Newspaper article The Journal (Newcastle, England)

Grainger in Mature Market; Stocks and Shares

Newspaper article The Journal (Newcastle, England)

Grainger in Mature Market; Stocks and Shares

Article excerpt

Byline: Anthony Peart

THE main news in the regional portfolio was announced by residential property company, Grainger Trust, for which Wise Speke acts as joint broker. The group confirmed that its subsidiary, Grainger Retirement Housing Limited, has made a pounds 71.6m cash offer for The Capital Appreciation Trust (CAT). CAT specialises in retirement properties and has around 912 units in its portfolio. The properties are mostly situated in the South of England and are usually one-bedroom flats in retirement complexes. Rupert Dickinson, Grainger's chief executive, said "This will be our first major acquisition in the increasingly important retirement home sector and fits in well with our existing home reversion business." Grainger's share price moved 1p higher over the day to finish the session at 656p.

Elsewhere in the market, it was a good day for the region's bus and train companies.

The Government seems to be gradually moving towards the idea of charging motorists for driving on the nation's road network as recommended in Sir Rod Eddington's Transport Study. …

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