It has been confirmed that the former chief executive of Barratt Developments, Mark Clare, will become the non-executive Chairman of the rapidly expanding Build to Rent company Grainger, as the company pushes on with its move into the Build to Rent side of the industry.
Grainger is currently the largest listed landlord in the UK, and following Clare’s retirement from his position at Barratt Developments in 2015 it seems like the perfect move for the newly-appointed Chairman, who comes with a vast amount of experience and expertise in the industry.
The company is planning to pump £850 million into the expansion of residential lettings, which will hopefully be achieved by 2020 after Grainger shareholders confirmed that the business is ahead of schedule in regards to its Build to Rent pipeline.
“We set very challenging requirements for Grainger’s new chairman and are very pleased that Mark Clare meets all of our criteria” commented Margaret Ford, the previous occupant of the Chairman role at Grainger. “Mark is an enormously experienced and respected business leader with a strong record in the residential sector. He will bring great leadership, integrity and knowledge to the role, supporting Grainger’s continued strategic transformation to deliver improved shareholder returns”
Grainger is a company that builds, buys and then runs apartment blocks predominately in London, but also in other major cities in the UK such as Bristol and Liverpool, and as the business is already a leading force in its industry, this appointment on top of the Build to Rent movement is only going to catapult it further into dominance.
The most recent scheme that was launched by the company was a £45.7 million development project at Bristol’s Finales Reach, and you can expect many more exciting projects to follow suit over the next few years, as the business looks to achieve its Build to Rent targets.