SPH reports higher bookings to date for UK student dorms for next academic year
Singapore Press Holdings has reported good progress on bookings for its purpose-built student accommodation (PBSA) properties in the UK for the next academic year.
It said bookings for academic year 2020/2021 (AY20/21) to date are robust despite the ongoing Covid-19 situation in the UK. They are around 60 per cent, which is higher than this time last year for AY19/20, said the media and property group, which publishes The Straits Times and The Business Times.
Moreover, 65 per cent of the target revenue for AY20/21 has been achieved as a result of better than expected rental growth compared with last year – a reflection of the quality of the PBSA assets, SPH added …