2nd May 2014 12:52
LONDON (Alliance News) - GCP Student Living PLC Friday its net asset value per share increased to 102.61 pence at March 31 compared with 97.00 pence at December 31.
The real estate investment trust operating in the student accommodation space said its portfolio is fully occupied for the 2013/14 academic year and direct lettings for the 2014/15 academic year are ahead of prior year bookings.
The portfolio is primarily occupied by international students, with 87% of the portfolio coming from students from outside of the UK. Undergraduates make up the largest student group at around 77%, with the remaining 23% coming from postgraduates.
Looking ahead the company said it has increased the size of its pipeline by entering into a forward purchase agreement to acquire Scape Guildford, a purpose-built, private student accommodation residence located adjacent to the University of Surrey.
The property will house 141 bedrooms and is also due for completion for the 2015/16 academic year.
The stock was trading at 106.00 pence Friday afternoon, down 0.25 pence or 0.3%.
By Anthony Tshibangu; [email protected]
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