22nd Jan 2021 16:46
GCP Student Living PLC - UK REIT focused on student accommodation - Says the pandemic has resulted in ongoing international and national travel restrictions and is impairing the ability of many students to occupy their rooms. The company says its buildings remain operational. For the 2020/21 academic year, the company allowed flexible start dates for students linked to their ability to travel and to university course start dates. Residents were also offered a four week rent free stay prior to the start of their tenancy to quarantine following international travel. In light of the recent changes in government guidance, GCP said students will be able to apply for up to 100% rental concession for a six-week period, commencing on January 5. Based on the number of rooms which have been booked but which remain unoccupied, the company says it estimates the maximum loss of rental income arising from this rent concession to be GBP1.9 million.
Current stock price: 143.40 pence, down 1.0% on Friday
Year-to-date change: up 0.1%
By Evelina Grecenko; [email protected]
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