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Centurion Corp Agree to Buy Nottingham Development

Posted by Ross Jones-Morris in

Image courtesy of Flickr, Creative Commons

Centurion Corp have agreed to buy the 133-bed Castle Gate Haus student housing development in Nottingham, for the price of £10.2 million.

The development, near Nottingham Trent University, is composed of 69 studio flats and 64 en-suite rooms. It will, if the purchase goes through, increase Centurion's portfolio to 29 student accommodation assets, with their total bedspace count rising to 55,615 globally.

Centurion will seek to manage Castle Gate Haus under its dwell Student Living brand. In talking about the acquisition, they cited a '2.1 to 1 student-to-bed ratio' in the Nottingham student housing market, and the growing student population in the city.

Kong Chee Min, Centurion's Chief Executive, said regarding the agreement: "We remain optimistic about the prospects of purpose-built student accommodation sector in UK. This acquisition of dwell Castle Gate Haus will mark our entry into the city of Nottingham and continued expansion into other strong education hubs in UK."

The deal is scheduled to go through in October.