GCP Acquire Guildford Scheme

GCP Student Living has entered into a forward purchase agreement to acquire purpose-built student accommodation in Guildford.

The property is located close to the company's existing Scape Surrey asset and is due to be delivered in time for the 2020-21 academic year.

Consisting of 403 beds it is close to the University of Surrey and is also within walking distance of the Academy of Contemporary Music, as well as Guildford's town centre.

Once complete, the Group's portfolio in Guildford will include 544 beds. The new residence provides the opportunity to take advantage of economies of scale, with the existing asset being fully occupied since its acquisition.

Scape also manage student accommodation in London, as well as Brisbane, Melbourne and Sydney.