Singapore Press Holdings is to acquire a £180m UK student accommodation portfolio.
SPH has agreed to buy Unite Group’s Mayflower portfolio, which comprises 13 buildings and around 3,500 affordable student beds.
The assets are located in six towns and cities, including London, Huddersfield, Plymouth and Sheffield.
The move is part of a trend of Asian investors diversifying by investing in real estate.
Last year, Hong Kong’s LKK Health Products Group acquired the Walkie Talkie, EC3, for £1.28bn.
The deal follows the release of Unite’s financial results, which showed the value of the group’s portfolio has reached £2.82bn during the first six months of 2018.
This represents a 9% increase since December 2017, when it was valued at £2.59bn.
JLL advised Unite on the Mayflower sale.
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
