Listed residential landlord is forward funding the second phase of Redcliff Quarter in Bristol by paying £128m to acquire the build-to-rent element.
As contractor, Winvic Construction will be building 374 private rental (PRS) apartments, as well as 94 affordable homes and six commercial units.
Grainger has agreed to acquire the scheme from Redcliff MCC LLP, backed by ICG Real Estate in partnership with Madison Cairn.
Winvic previously built Grainger’s Brook Place development in Sheffield and is also building the Copper Works in Cardiff for Grainger.
In addition to the homes at Redcliff Quarter, the scheme includes 5,900 sq ft of internal residents’ amenity space; 21,200 sq ft of external amenity space; 8,500 sq ft of commercial space; but just 31 car parking spaces.
Construction is expected to start this summer, with practical completion targeted for early 2025.
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