Quinta do Lago Real Estate, the luxury residential resort in the Algarve, is delighted to announce its exclusive new partnership with Portugal Forbes Global Properties. Through this new partnership, properties in this premium location of Portugal will now be available through the luxury real estate platform Forbes Global Properties, sitting proudly alongside the world’s finest portfolio of high-end real estate.  

This innovative collaboration combines Quinta do Lago Real Estate’s years of local expertise with Forbes’ global recognition and prestige of Forbes’ luxury real estate agency in Portugal. Earlier this year, Forbes Global Properties expanded its international presence and opened in Portugal through luxury specialist, Modern, a full-service real estate agency assisting high net worth individuals, developers and investors in the luxury residential market. Focusing specifically on the top 1% of the market, Portugal Forbes Global Properties now represents the most coveted properties in desirable locations that include Cascais, Comporta, and, today, Quinta do Lago. 

According to Sean Moriarty, CEO of Quinta do Lago: “This partnership with Forbes is proof of our unwavering commitment to luxury, exclusivity, and offering unparalleled properties. The brand’s reputation and the demanding nature of Forbes’ high-end client network perfectly align with our lifestyle vision, strengthening our position as a unique destination for those seeking modern properties and quality of life.”

He adds: “This partnership highlights confidence in our expertise, reinforcing our position in the luxury real estate sector in Europe. Together, we are ready to redefine the lifestyle in the Algarve and elevate Quinta do Lago to new heights of global recognition.” 

Pedro Teixeira Santos, CEO of Modern and representative of Forbes Global Properties in Portugal, comments: “The partnership with Quinta do Lago is a significant achievement for Portugal Forbes Global Properties. Quinta do Lago is one of the best resorts in Europe, where local and international clients are attracted by the quality of the properties and the exclusive lifestyle offered. We found in Quinta do Lago Real Estate the ideal partner, who, as the developer of the resort, has an unparalleled level of local market expertise and shares the same service excellence philosophy our client’s demand. This strategic partnership reflects the joint commitment of both companies to raise the service quality in the luxury real estate market and meet the unique needs of clients,” he states. 

Considered one of the most highly regarded residential and golfing resorts in Europe, Quinta do Lago boasts a continuously developing real estate market with a premium portfolio of luxury properties ranging from resales to brand new developments. Despite boasting a variety of luxury homes that feature high-end amenities, the resort continues as a low-rise and low-density region that is ecologically driven and built with sustainability in mind. Quinta do Lago resort also boasts a state-of-the art high-performance centre, The Campus, along with three award-winning golf courses, a boutique hotel, called The Magnolia Hotel, its own Q Farm and a wide selection of restaurants. 

Established in 2020, Forbes Global Properties, founded and led by the world’s leading luxury residential brokers, is an exclusive consortium of top real estate firms representing many of the world’s finest homes and properties for sale.

For more information, please visit www.quintadolago.com/. 

For more information on Forbes Global Properties, please visit www.forbesglobalproperties.com/. 

·         Like-for-like PRS rental growth 8.4% YTD

·         Occupancy 97.2% (PRS)

·         Sales of regulated tenancy homes at prices 2.6% above valuations

·         Over 600 new homes delivering in H1

Grainger plc, the UK’s largest listed provider of private rental homes with a c.£3.3bn operational portfolio of c.10,200 homes and a £1.6bn pipeline of a further 5,634 build-to-rent homes, today provides an update on trading for the four months to the end of January 2024, alongside its AGM which is being held today at its head office in Newcastle upon Tyne. The Company will announce its half year results for the six-month period ending 31 March 2024 on 16 May 2024.

Helen Gordon, Chief Executive of Grainger, said:

“Positive momentum continues within the business, underpinned by our market leading operating platform. We are maintaining strong levels of rental growth with like-for-like rents in our PRS/Build-to-rent portfolio growing 8.4%, while maintaining healthy customer affordability levels. Occupancy remains high at 97.2%. Our forward-looking key performance indicators show continued high levels of rental demand over the coming months, supporting occupancy.

“Sales from our legacy regulated tenancy portfolio continue to perform well with strong liquidity and pricing. The sales market is proving robust with a high proportion of our sales going to ‘best and final’ bids. On average, we are achieving sales prices 2.6% above valuations.

“Since our year end results in November, we have completed 307 homes at The Copper Works in Cardiff and continue with the phased delivery of homes at Weavers Yard in Newbury, with leasing in line with our underwriting assumptions. In the next month we will see two new build-to-rent schemes launching in Birmingham and Bristol totalling 606 homes.

“In line with our stated strategy, we are continuing to build on our geographic clusters of PRS (build-to-rent) developments which delivers operational and financial efficiencies, and we are on track with the delivery of our committed pipeline which will deliver significant growth in EPRA Earnings over the coming years.”

Strong rental performance continues

Robust sales performance

·       Whilst an increasingly smaller part of the business (c.23% by value), sales generated from our regulated tenancy portfolio as it unwinds (vacant possession) continue to provide a reliable source of capital for our continued growth.

·       We are seeing good levels of liquidity in the residential sales market.

·       We continue to see strong pricing, achieving average sales prices 2.6% ahead of valuations.

·       As our regulated tenancy portfolio reduces in size, we would naturally expect to see volumes of sales reduce. Last year, our portfolio reduced by c.14% (now £760m as at September 2023 valuations), whilst our PRS portfolio grows (£2.5bn).

·       As previously stated, we continue our elevated asset recycling activity, selling tenanted properties, portfolios and land to reinvest the capital into our build-to-rent pipeline and new higher-yielding opportunities. We expect to deliver similar proceeds from sales for the full year, including asset recycling, compared to last year.

Strong earnings growth momentum continues

·       Two new build-to-rent schemes in Birmingham and Bristol launching in March, totaling 606 homes.

·       The operational leverage inherent in our business model ensures that we remain on track to deliver significant growth in EPRA Earnings over the coming years.

Outlook

The strong, compelling fundamentals of the UK residential rental market continue to underpin our investment case. Demand for renting, and our product specifically, remains exceptionally high. We continue to achieve record levels of rental growth, and should wage growth ameliorate later this year, we expect rental growth to continue be higher than historic averages, driven by our market-leading operational platform. With local and national elections later this year, we are comfortable that political and regulatory risk for our business is low and that our responsible approach to delivering high quality rental homes for the mid-market is very much aligned to the main political parties’ priorities.