GCP STUDENT LIVING
PLC
(the "Company" or,
together with its subsidiaries, the “Group”)
Completion of Apex House
Acquisition
Further to the announcement on 20 June
2016, the Directors of GCP Student Living plc, the UK's
first REIT focused on student residential assets, are pleased to
announce the Company has now completed on the site acquisition in
respect of the forward-funded development at Apex House,
London.
The Investment Manager, Gravis Capital Partners LLP, continues
to review a number of attractive assets which may be suitable for
the Company’s portfolio. Further, as announced on 15 April 2016 the Company has entered into a
conditional forward purchase agreement to acquire a high
specification, purpose-built, private student residential
accommodation residence offering c.170 studios and beds located
adjacent to Royal Holloway,
University of London, and which is
expected to be completed for the 2017/18 academic year.
For further information, please contact:
| Gravis Capital Partners LLP |
|
+44 20 7518 1490 |
| Tom Ward |
tom.ward@gcpuk.com |
|
| Nick Barker |
nick.barker@gcpuk.com |
|
| Dion Di Miceli |
dion.dimiceli@gcpuk.com |
|
|
|
|
| Stifel Nicolaus Europe Limited |
|
+44 20 7710 7600 |
| Neil Winward |
neil.winward@stifel.com |
|
| Mark Young |
mark.young@stifel.com |
|
| Tom Yeadon |
tom.yeadon@stifel.com |
|
|
|
|
| Buchanan |
|
+44 20 7466 5000 |
| Charles Ryland |
charlesr@buchanan.uk.com |
|
| Vicky Watkins |
victoriaw@buchanan.uk.com |
|
About GCP Student Living plc
The Company was the first student accommodation REIT in the UK.
The Company invests in modern, purpose-built, private student
residential accommodation and teaching facilities. Its investments
are located primarily in and around London where the Investment Manager believes
the Company is likely to benefit from supply and demand imbalances
for student residential accommodation.
The Company currently owns and operates c.2,000 beds across six
properties. Its assets are primarily occupied by international
students and offer new high specification facilities and
hotel-level concierge type services which the Investment Manager
believes are attractive to overseas students.