SPH acquires UK student accommodation portfolio for $321 mil

SINGAPORE (Sept 10): Singapore Press Holdings (SPH) has acquired a student accommodation portfolio in the UK for $321 million.

The portfolio comprises 14 buildings across 6 towns and cities in the UK and has a total capacity of 3,436 beds for student accommodation. The properties include 10 freehold assets and 4 leasehold assets, and are situated in established university towns and cities with large full-time student populations, including London, Birmingham, Bristol, Huddersfield, Plymouth and Sheffield.

On Friday, SPH, through its wholly-owned subsidiaries, Straits One (Jersey), Straits Two (Jersey) and Straits Three (Jersey), entered into a sale and purchase agreement to acquire a portfolio of Purpose-Built Student Accommodation (PBSA) in the UK from Unite Group PLC (Unite) for a cash consideration of approximately £180.5 million ($321 million).

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