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Grainger to go bargain hunting

By Daily Mail Reporter
Updated: 03:50 EDT, 12 August 2010

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Britain's largest residential landlord Grainger is hoping to take advantage of the ailing housing market to pick up bargains.

The group - which has £2.8bn in assets under management - said the gloom in the property market had allowed it to buy cheap sites among £67.6m worth of assets acquired in the year to the end of July.

Chief executive Andrew Cunningham said Grainger's recent purchases would produce 'good levels of return for our investors in the future'.

But shares edged down 2.4p to 111.9p.

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