SPH buying UK student housing portfolio for £180.5m
Singapore Press Holdings (SPH) has acquired a portfolio of 14 purpose-built student accommodation buildings across six towns and cities in the United Kingdom for about £180.5 million (S$321 million) cash, it announced early on Monday morning.
The buildings, acquired from the Unite Group, have a total capacity of 3,436 beds. They include 10 freehold assets and four leasehold assets, and are located in established university towns and cities with large full-time student populations, namely London, Birmingham, Bristol, Huddersfield, Plymouth and Sheffield.
SPH, which owns The Business Times, said that student accommodation in the UK has growth potential, with demand expected from both domestic and international students, driven by a rise in enrolment of first year, international and postgraduate students …