Grainger plc: ‘Why did we invest in Derby? Because we invest in the best’

The chief executive of the UK’s largest listed provider of private rental homes has been explaining why her company decided to invest tens of millions of pounds in Derby.

Speaking at Marketing Derby’s recent London Embassy event, which took place at the Guildhall, Helen Gordon, chief executive of Grainger Plc, outlined the reasons why her company decided to invest in the city.

Grainger Plc is the company behind the city’s first ever purpose-built build-to-rent apartments scheme, known as The Condor.

Built as part of the first phase of the £200 million Becketwell regeneration scheme, it features 259 new build-to-rent apartments comprising a mix of stylish studios, one-bedroom and two-bedroom apartments.

Located on the former Debenhams site in Victoria Street, it is named after one of the first engines built by Rolls-Royce in 1918, Rolls-Royce Condor III.

Addressing audience at the London Embassy, which included a number of investors, she said: “There are 63 major towns and cities in the UK. We are a very research-led company, which means we look at 18 different economic success factors of each. Only then do we invest in the best.”

Helen went on to explain that since launching The Condor in August, it had enjoyed great success.

She told the Embassy: “The Condor is already 60% let. Normally, we allow a year for a new building to develop into a community.

“We think this new community will significantly benefit from the regeneration that’s going on in the Becketwell area.

“We also think that The Condor will revitalise the area because there will be permanent residents, supporting local amenities.”

Helen said that she hoped the success of The Condor would encourage more investors to consider Derby.

She said: “I think that sometimes Derby has been overlooked as an investible location.

“I’m fortunate that my investors are very patient and look at the long-term – and they will be hearing about how well The Condor is doing.

“We’re pleased to be part of Derby’s success and we hope that it helps to attract others to invest long-term into the city.”

Grainger Plc has produced a new video showcasing The Condor. To view it visit https://the-condor.co.uk/ .

To watch a new film about this year’s London Embassy visit Marketing Derby Embassy 2023 at the Guildhall – YouTube.