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HCA approves Grainger's registered provider status

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HCA approves Grainger's registered provider status

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Published by Max Salsbury for 24dash.com in Housing and also in Central Government, Development

HCA approves Grainger's registered provider status HCA approves Grainger's registered provider status

Grainger plc has been given final approval by the Home and Communities Agency (HCA) to create a For Profit Registered Provider (RP) of social housing.

The global residential property business will develop 7,000 new properties, a portion of which will be affordable homes, over the next 15-20 years which its new RP could run, though it has said that it will continue to work with other social providers.

The new RP - which will be a subsidiary of Grainger plc - is to be called 'Grainger Trust', the company's original name when it was established in Newcastle in 1912. The name has been resurrected to celebrate the company's centenary.

The first scheme for which Grainger Trust will acquire affordable housing units is Grainger’s Berewood development, West of Waterlooville in Hampshire, which in total comprises 168 developable acres to be delivered across 13 phases.

The RP will own, rent out and manage affordable homes, using Grainger’s existing property and asset management platform, which currently manages over 40,000 homes across the UK and Germany.

Deborah Shackleton CBE has been appointed Chair of the Grainger Trust Board. Ms Shackleton is a Non-Executive Director of The Housing Finance Corporation and has over 30 years of experience in the housing sector and was previously CEO at The Riverside Group.

Ms Shackleton said: “I am delighted to take up this demanding new role as chair of Grainger Trust. The Trust will provide ground breaking, high quality service to a number of future communities over a long period of time.

"Housing associations continue to deliver excellent social housing provision, but in light of the UK’s desperate need for more housing, particularly social housing, I believe the sector will benefit from new ventures such as Grainger Trust, a commercially-minded organisation with a strong social purpose, and I am excited to be part of it.”

Grainger currently works in partnership with other select organisations such as the Ministry of Defence, Lloyds Banking Group, Haringey Council, Hammersmith and Fulham Council, Helical Bar plc and Development Securities.

Andrew Cunningham, Chief Executive of Grainger plc, said: “The creation of Grainger Trust, allowing us to operate as a social housing provider, will strengthen Grainger’s overall residential property offer and ensure the long-term success of the communities we create and work with. Grainger Trust is a natural extension of Grainger’s overall residential offer and it is fitting that its launch should coincide with our company’s centenary year. We are pleased to have Deborah Shackleton join us as chair of Grainger Trust, along with the other strong Board Directors, bringing their years of experience and understanding of this part of the housing sector to the table.”

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