Singapore–headquartered Centurion is entering Nottingham with the acquisition of student accommodation block Castle Gate Haus for £10.2m.
The purchase of the 133-bed property is expected to complete next month, increasing Centurion’s UK portfolio to around 2,676 beds spread across ten student accommodation assets in five cities.
It will be managed by Centurion’s student accommodation brand, dwell.
The acquisition brings Centurion’s total student and workers accommodation portfolio to 29 assets globally, bringing the total number of beds under management to 55,615.
Mr Kong Chee Min, chief executive of Centurion, said: “We remain optimistic about the prospects of purpose-built student accommodation sector in UK.
“This acquisition of Castle Gate Haus will mark our entry into the city of Nottingham and continued expansion into other strong education hubs in the UK.”
“Together with our recent acquisition of the 127-bed Princess Street in Manchester in July this year, the group will add 260 beds, or about 11%, to our dwell portfolio in the UK. These new acquisitions allow us to further reap synergies to deliver better operating results for our portfolio through shared resources and expertise leveraging.”
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