SINGAPORE (May 2): Centurion Corporation has agreed to acquire four student accommodation assets in university cities in the United Kingdom for a total purchase consideration of £20.1 million ($38.9 million).
The assets – 37-bed Beechwood House and 140-bed Weston Court in Manchester, 157-bed Hotwells House in Bristol and 185-bed Garth Heads in Newcastle Upon Tyne – are located within the respective cities catering to students from reputable universities.
The two Manchester properties are both situated adjacent to the University of Manchester’s Fallowfield Campus. The properties are in the heart of a vibrant student community area with various amenities, and easy transportation access to the University of Manchester’s main campus and Manchester Metropolitan University.
Meanwhile, Garth Heads is located in the heart of the lively Newcastle student community and within walking distance to the campuses of Newcastle University and Northumbria University, Similarly, Hotwells House is located within walking distance to both University of Bristol and the City of Bristol College.
Centurion says the new assets will strengthen its student accommodation portfolio with the addition of another 519 beds, and bring its total number of student beds to 3,208 across the UK, Australia and Singapore.
All four accommodations, which offer a mix of non en-suite, en-suite cluster flats and studios, are long leaseholds properties of 125 years each.
Centurion last closed at 38 cents.