Grainger to fund £55m Canning Town development
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UK residential landlord Grainger said it had agreed to forward fund a 132-home private development in London's Canning Town for £55.5m.
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The scheme, which also includes 11,000 square feet of commercial space, will be developed by Linkcity, with Bouygues UK the building contractor. This is the fifth scheme Linkcity and Bouygues UK will deliver for Grainger, the company said on Thursday.
The investment was expected to generate a gross yield on cost of 5.5% once stabilised, with completion anticipated in late 2024, it added.