LONDON (ShareCast) - (Sharecast News) - Residential property group Grainger has inked a partnership with Lewisham Council to deliver as many as 300 new purpose-built private rental properties in New Cross Gate, London.
As a result of the partnership, the duo formed a new 50/50 joint venture company, Lewisham Grainger Holdings, which will deliver a "ground-breaking new rental housing scheme" on Besson Street, including 35% affordable homes let at "London living rent" rates and long-term tenancies for Lewisham residents.

In addition to the 300 purpose-built private rented homes, the FTSE-250-listed outfit will also erect a new GP surgery and pharmacy for the local community, new office space for the New Cross Gate Trust and an outdoor gym.

Chief executive Helen Gordon, said: "This is an excellent project that will deliver high-quality homes and several additional facilities for the local community."

"Upon completion, residents will benefit from new homes and also Grainger's commitment to customer service and expertise as the market leader in modern homes for rent."

Grainger expects planning submission to be made at some point in 2019.

As of 0900 GMT, Grainger shares had picked up 1.13% to 286.40p.

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