Grainger agrees to acquire build-to-rent investment in Bristol for €149m

Grainger has exchanged conditional contracts to forward fund and acquire the build-to-rent element of the second phase of Redcliff Quarter in Bristol which comprises 374 private rental (PRS) homes, as well as 94 affordable homes and six commercial units.

The seller was Redcliff MCC LLP, backed by ICG Real Estate in partnership with Madison Cairn. The sales price was £128 million (€149 million/$157 million)

In addition to the 374 PRS homes and 94 affordable homes at Redcliff Quarter, the scheme includes a total of 5,900 square feet of internal residents’ amenity space; 21,200 square feet of external amenity space; 8,500 square feet of commercial space; and 31 car parking spaces. A further six commercial units totaling 15,800 square feet have also been acquired as part of the transaction.

The site is located within the central Redcliffe district of Bristol and forms part of the second and final phase of Redcliff Quarter, a wider residential-led, mixed use ma