Grainger sees sustainability as an integral part of the way we run our business. We annually publish an online Corporate Responsibility report detailing Grainger’s activities in each ETHOS area and a shorter summary of performance PDF. We also include CR information within our Annual Report.
Except where specifically noted otherwise, Grainger’s CR reporting does not cover:
- German operations (due to a large degree of management outsourcing and divergent legal environment)
- Joint venture projects
- Suppliers’ activities (although contractor performance in regards to selected construction impacts are included)
- Property acquired or disposed of during the reporting year
There have been a number of significant changes to our company activities during 2010/11. These include:
- The acquisition of Sovereign Reversions in August 2010. It owned 1,038 home reversion assets with a market value of approximately £68m. In October 2010, Moorfield acquired a 50% stake in the vehicle.
- The acquisition of HI Tricomm, a corporate entity owning 317 houses let to the Ministry of Defence. Gross annual yield of 8.3% based on its acquisition price and existing long-term financing retained.
- The acquision of our JV partner’s (Genesis Housing Group) stake in these Grainger GenInvest LLPs to give us 100% ownership. The portfolios included c1,650 residential units in central London with a market value of £289m and a vacant possession value of £353m.
- The provision of G:RAMP for Lloyds Banking Group. By 30 September 2011 some 1,545 residential units were included in G:RAMP.
- Aldershot Urban Extension - the appointment as preferred developer by Defence Infrastructure Organisation and Homes and Communities Agency for 148 hectares of land which may result in up to 4,500 residential units.
- Waterlooville – outline planning consent obtained for 2,550 homes, 15–20 year pipeline of serviced land sales to housebuilders.
There are no significant changes from previous reporting periods in the scope, or boundary of the report. Restatements and changes to individual key performance indicators in measurement methods are stated in the data qualification notes alongside the KPI data as appropriate.