Centurion Corp Buy £20 Million of Student Accommodation in 3 Cities

Posted by Ross Jones-Morris in

Centurion Corp Ltd has traditionally worked in sectors of the accommodation industry not related to students, but right on trend the company has now decided to expand its presence in the booming British student market.

It won't be the first time Centurion have bought student accommodation though, as ever since they purchased the RMIT Village in Melbourne back in 2014 they have since expanded their portfolio with developments in Singapore and the UK. This week's agreement to purchase four sites in Manchester, Bristol and Newcastle will increase their student portfolio from 2,689 to 3,208 beds - a 20% increase in the number they hold.

The agreement will cost them £20.1 million, netting them two properties in Chester">ManChester (the 140 bed Weston Court and 37 bed Beechwood House), one property in Bristol (the 157 bed Hotwells House) and Newcastle (the 185 bed Garth Heads).

The leases on each of the properties still have over 100 years to run.

Image courtesy of Flickr, Creative Commons