Grainger partners with Girlings to offer retirement rental properties

Grainger has appointed Girlings Retirement Options, the market leader in the retirement rental market, to exclusively let its portfolio of approximately 220 vacant Capital Appreciation Trust properties to the over 55s.

Grainger recently purchased the Capital Appreciation Trust and its partnership with Girlings will extend the company’s existing property portfolio into the retirement rentals market. Girlings will let the units on an Assured Tenancy basis – providing tenants with security of tenure in renting a property for life.

Girlings will be working in conjunction with Economic Lifestyle who will continue to offer the lifetime leases.

Grainger and the CAT board believe that in offering a choice of Assured Tenancies and lifetime lease to customers; they are broadening the provision of housing options available to retirees.

Peter Girling, Chairman and founder of Girlings comments, “The demand for retirement rentals is escalating, as more people learn about the multiple benefits of renting on an assured tenancy. We are delighted to partner with Capital Appreciation Trust and provide the retired community with more choice and living options. Last year, we witnessed a huge 78% rise in the numbers of people choosing to rent in retirement on assured tenancies. We are confident that working with CAT we will meet the demand for retirement rental properties in 2007 and beyond.”