Grainger appoints David Prescott as strategy and corporate finance director

Prescott, who has more than 10 years of real estate experience in sell-side, buy-side and advisory roles, will join the executive committee and work closely with chief executive Helen Gordon on strategy. He will oversee the company's commercial finance team, reporting into chief financial officer Vanessa Simms.

Prescott joins the company from Dutch investment bank Kempen, having previously worked as a research analyst at Barclays and Aviva Investors.

Gordon said: "I am pleased to announce the appointment of David Prescott as Grainger's director of strategy and corporate finance. David brings with him a great depth of experience and knowledge of the listed real estate sector, which will be valuable in Grainger's next stage of growth."

Prescott said: "The opportunity in front of Grainger in the UK private rented sector is very exciting and I am pleased to join at this critical point of transformational growth at the company and the wider sector."

Prescott is expected to join the company late next month.

At 1115 BST, the shares were up 0.4% to 305.40p.