Student Roost buys fifth Nottingham building
Student Roost has bought a new 703-bed building in Nottingham, taking its bed count in the city to over 3,100 …
Heathrow investor in Glide towards £200m student broadband firm
A giant American infrastructure fund is placing a bet on growing demand for high-speed internet services among Britain’s student population by striking a deal to buy a leading player in the sector.
Sky News has learnt that Connecticut-based Alinda Capital Partners has agreed to buy Glide Group, which provides fibre broadband to approximately 700 student halls of residence around the country.
Sources said the deal, which is expected to be announced this week, was an early signal of international investors’ willingness to put money to work in the UK, even as the economy braces for a protracted period of turbulence because of the coronavirus outbreak …
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Bolton fire: Crews tackle huge blaze at student flats
Firefighters have been tackling a huge blaze at a university student accommodation block.
Crowds of students were evacuated from The Cube in Bolton when the fire broke out at about 20:30 GMT on Friday.
At its height about 200 firefighters from 40 fire engines were tackling the blaze which was affecting every floor …
Blackrock-linked Entity Sells UK Student Digs To Far East Orchard For £66.5m
A subsidiary of the Far East Organization has reached an agreement to purchase assets from a BlackRock-linked entity. The deal includes a pair of student dorms in the UK that will be sold to the Singapore-listed property developer, Far East Orchard for £66.5 million ($85 million).
The new acquisition in Leeds and Sheffield brings Far East Orchard’s UK student housing portfolio to 3,260 beds across 11 dorms in six cities as indicated in company filing …
The Student Hotel secures 82M euros in green financing for Toulouse and Paris
The Student Hotel (TSH) has secured 82M euros for it’s two hotel projects in Paris and Toulouse …
TigerLime attend Class2020 Conference in Berlin
We attended the Class2020 Conference in Berlin, that brought together the worlds’ leading players in the student & co-living sectors.
CMA Approval for Liberty Living Acquisition by UNITE
The Unite Group plc, one of the UK’s leading owners, managers and developers of student accommodation, is pleased to announce that the UK Competition and Markets Authority (the ‘CMA’) has unconditionally approved the Company’s acquisition of Liberty Living Group plc (‘Liberty Living’) for total consideration of £1.4 billion from Liberty Living Holdings Inc. (‘CPPIB Holdco’), a wholly owned subsidiary of Canada Pension Plan Investment Board (the ‘Acquisition’).
Following the CMA’s approval, completion of the Acquisition is expected to occur at the end of November 2019, subject to satisfaction of the remaining conditions. Subject to completion, approximately 72.6 million consideration shares (the ‘Consideration Shares’) will be issued to CPPIB Holdco by Unite in connection with the Acquisition representing 20% of Unite’s enlarged share capital (the ‘Enlarged Group’). Applications will be made to the Financial Conduct Authority and to the London Stock Exchange for admission of the Consideration Shares. It is expected that admission of the Consideration Shares will become effective at 8.00 a.m. on the business day following completion.
The Company will publish a prospectus in relation to the admission of the Consideration Shares (the ‘Prospectus’), which will be filed with the FCA and made available to the public in accordance with the Prospectus Regulation Rules. The Company expects to publish the Prospectus in due course …
Empiric Student Property PLC Trading Update
The board of Empiric Student Property plc, the owner and operator of premium student accommodation across the UK, is pleased to provide the following update on trading.
Student revenue is expected to be approximately 10% up in full year 2019 compared to full year 2018, driven by an increase in the number of beds, increased occupancy and an increase in revenue generated per bed. The Company is continuing to reduce average cost per bed and expects a reduction of approximately 8% for full year 2019.
Bookings for the 2019/20 academic year are currently at 93%, in line with the corresponding point in the previous academic year. The Company anticipates similar opportunities to sell semester lets as achieved during the 2018/19 academic year, which successfully increased bookings to achieve 97% occupancy. The Company anticipates c. 3% growth in average rents for the 2019/20 academic year …
Student pods at UWE Bristol ‘not fit for humans’
University students housed in “tiny” temporary units have described them as shipping containers “not fit for humans”.
The 8x10ft (2.4x3m) “studio pods” were installed in a car park at the University of the West of England’s (UWE) Frenchay campus in September.
One student is moving out after complaining that living at the site near Bristol was “not mentally viable” …