On a purpose-built student accommodation portfolio in the UK by Singapore Press Holdings (SPH), they recorded a revaluation gain of 6.7%, or S$38.4m. With an initial investment of 180.5m Euros and it’s expansion in the student accommodation sector, SPH was able to record this gain within a year.
Real Estate agency Cushman & Wakefield also gave rise to the revaluation gain by valuing the portfolio at 361.2m Euros.
The Straits Times, which is owned by SPH, has reported that the UK student accommodation sector and the investor interest in this area is expected to remain strong with investments worth 3.5b Euros likely on their way this year.
SPH claims to have boosted their operational expertise while also expanding their spectrum by focusing on their marketing capabilities. They also have a marketing and sales office in China to capitalize on the demand by Chinese students who are willing to get higher education in the UK.
Shares of SPH were closed at $1.99 as of 9 Sep, ie. 0.51 per cent. The announcement was made after the market closed.