Media Resouces
Mapletree Acquires Portfolio of Four Student Housing Assets in UK
August 30, 2021

The acquisition brings Mapletree’s overall student housing portfolio to more than 23,000 beds in the UK, US and Canada.

SINGAPORE – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) is pleased to announce it has purchased four Purpose-Built Student Accommodation (“PBSA”) assets in the United Kingdom (“UK”) for a total consideration exceeding GBP165 million (~S$300 million)1.

Totalling 917 beds, the acquired portfolio comprises PBSA assets in Exeter, Bristol, Leeds and Nottingham and will complement Mapletree’s growing student housing footprint in the UK. They are strategically located within walking distance to Russell Group Universities as well as in close proximity to amenities such as town centres and train stations.  

Said Mr Chua Tiow Chye, Mapletree’s Deputy Group Chief Executive Officer: “This acquisition of four high-quality assets will enhance the scale and reach of our PBSA presence in the UK. This also underscores our commitment to grow the student accommodation sector as a stable and resilient asset class, with growth anchored by strong underlying and positive demographic and student enrolment trends. In the aftermath of challenges faced by the sector last year during the Covid-19 pandemic, the PBSA markets in the UK and the United States (“US”) are experiencing robust recovery with schools re-opening for face-to-face lessons in the next academic year. The high vaccination rates and strong student enrolment figures in these two markets have also enabled strong pre-leasing rates of student beds for the next academic year to be achieved. Mapletree will continue to expand its global footprint in this asset class for its attractive long term growth prospects supported by strong fundamentals of domestic and international students’ demand.”

The assets were purchased from Vita Group, which will be engaged as the operator for the four assets under the Vita Student brand.  

Mr Mark Stott, Chief Executive Officer of Vita Group said: “We are excited to partner strategically with Mapletree, agreeing the sale of four assets. In securing this deal, it provides the business with the capital and the confidence to continue to develop the Vita Group platform to thrive, with an ever-increasing future pipeline of projects.”  

Including the latest acquisition, Mapletree’s student accommodation portfolio comprises 55 assets with over 23,000 beds located across 37 cities in the UK, the US and Canada. The total assets under management amount to approximately S$4 billion. About 60% of these beds are held by Mapletree’s private fund, Mapletree Global Student Accommodation Private Trust.

City

Property Name

Beds

Year Built

Distance to Universities

Exeter

Portland House

156

2014

University of Exeter: 1 km
Exeter College: 0.8 km

Bristol

Zed Alley

132

2014

University of Bristol: 0.3 km
City College of Bristol: 0.8 km

Leeds

Portland Crescent

308

2020

University of Leeds: 0.5 km
Leeds Beckett University: 0.1 km

Nottingham

Station Street

321

2020

University of Nottingham: 3 km
Nottingham Trent University: 1.2 km

 

 

Portland Crescent is a brand new building located directly next to Leeds Beckett University’s Business School and just a short walk from the University of Leeds.

Newly opened in 2020, Station Street is equipped with amenities including a cinema room, coffee lounge and bike storage area.

1 Based on exchange rate GBP1:S$1.86 as at 30 August 2021

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MEDIA CONTACTS

Xabryna Kek
   
Grace Lee
Assistant Manager, Corporate Communications
  Manager, Corporate Communications
Tel: +65 6377 4608 / +65 8183 3543
  Tel: +65 6377 6218 / +65 9750 6482
Email: xabryna.kek@mapletree.com.sg
  Email: grace.lee@mapletree.com.sg



ABOUT MAPLETREE
Mapletree Investments (“Mapletree”) is a leading real estate development, investment, capital and property management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.

As at 31 March 2021, Mapletree owns and manages S$66.3 billion of office, retail, logistics, industrial, data centre, residential, and lodging properties. The Group manages four Singapore-listed real estate investment trusts (“REITs”) and five private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (“UK”) and the United States (“US”).

The Group’s assets are located across 13 markets globally, namely Singapore, Australia, Canada, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

For more information, please visit www.mapletree.com.sg.