UPP announces Financial Close on new £43m deal
University Partnerships Programme (UPP), the UK’s leading provider of on-campus residential and academic accommodation infrastructure, has successfully reached financial close on a deal worth £43 million with St Modwen Developments, Swansea University and Swan Global LLP for the acquisition of the freehold of 411 rooms at Bay Campus, where UPP will deliver a full facilities management service.
The deal takes the number of rooms operated by UPP on the Bay Campus to 2,432 and boosts UPP’s portfolio of over 35,000 rooms in operation or under construction through long-term partnerships with 15 leading UK universities.
It comes on the back of a c. £98 million transaction between St Modwen Developments, Swansea University and UPP in February 2018, where UPP acquired two companies from St Modwen Properties PLC to operate 2,021 study bedrooms on the University’s Bay Campus, as well as acquiring a freehold property interest in further accommodation …