Imperial sells student housing to LGP in £116m sale and leaseback – London
Legal and General Property (LGP) has acquired a major student accommodation development from Imperial College London, in a £116 million sale-and-leaseback deal.
The deal, described as “an industry first” by LGP, will see the property firm acquire and then let Griffon Studios in Battersea back to Imperial on a 45-year inflation-linked lease, after which the ownership will revert to the university.
Griffon Studios, a joint venture between Imperial and student accommodation specialist Berkeley First, is designed to showcase Imperial’s ‘Gradpad’ brand, which delivers residences specifically for the postgraduate market …