GCP Student Living has announced that it has entered into a conditional forward purchase agreement to acquire, what it describes as, a high specification, purpose-built, private student accommodation residence adjacent to Royal Holloway, University of London. The property is expected to be completed for the 2017/18 academic year providing approximately 170 beds. The purchase price has not been disclosed. The new accommodation is in the same locality as ‘The Pad’, which is currently owned by the group. The Pad comprises two buildings with approximately 220 beds and is fully occupied on 51 week tenancies for the 2015/16 academic year. Royal Holloway is home to c.9,300 students from over 130 countries (c.22% from outside the European Union).
GCP Student Living to forward fund new ‘Royal Holloway’ residence : DIGS