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Grainger plc secures £62.8 million forward funding for Oxford’s first ever Build to Rent Scheme

17 11 22 Grainger plc secures forward funding for Oxfords first ever Build to Rent Scheme hero

Grainger plc has agreed to forward fund and acquire a 150-home Build to Rent (BTR) scheme at West Way Square in Botley, Oxford, marking this as the first BTR scheme in the city.


The 150-apartment development in West Way Square will be developed by BDC Phase 2 Ltd, a Joint Venture between Mace Group and Doric Properties.

Colliers’ Residential Capital Markets team facilitated the deal, which includes seven ground floor commercial units totalling over 10,000 sq ft, internal residents’ amenity space, a podium garden, roof terrace and 120 parking permits.

West Way Square, Botley, is a mixed-use development located 10 minutes from Oxford City Centre in close proximity to Oxford railway station. Gilbert Ash has been appointed as the main contractor on this second phase of the development, and construction is expected to start in late 2022 with practical completion targeted for late 2024. 

Mike Butler in the Residential Capital Markets team at Colliers comments: “Breaking into Oxford for investors has long been a target for many in the sector, with barriers to entry high given the dearth of available land. We’re thrilled to have facilitated this ground-breaking deal, particularly in a city in need of high quality rental homes for it’s ever growing population and economy, which offers outstanding long term prospects.”

Helen Gordon, Chief Executive Officer of Grainger, said: "We are delighted to secure our first scheme in Oxford, a key target city with robust underlying fundamentals and a great need for high quality rental homes. The convenient location and connectivity of West Way Square makes it attractive for those working in the city centre or at the many local business and science parks.”

Kirsten White, Finance Director (Develop) at Mace Group, said: "This is a great deal, which underlines the strength of our partnership working approach to urban regeneration in creating a new, high quality, mixed-use development. Phase One saw us work with the local community, the Council and our partners Doric Properties to deliver a vibrant new destination and attract residents and businesses into the area. With this funding in place for Phase Two, we can realise the overall vision for the development to leave a positive and lasting legacy for this thriving part of Oxford and for Grainger."

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Kristy Watt

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Mike Butler

Associate Director

Residential - BTR

London - West End

Mike works in the Build to Rent team, having joined the company as a graduate in 2016.

His role is to source, appraise and broker forward funding and forward commitment Build to Rent/PRS opportunities across the UK. 

View expert