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UPP Picks up Swansea Scheme

Posted by Richard Ward

Image courtesy of Flickr, Creative Commons

St Modwen has completed on the sale of its interest in a block of purpose-built student accommodation (PBSA) at Swansea University Bay Campus for £38 million.

The asset was picked up by University Partnership Programme (UPP), which provides on-campus accommodation.

The building has been occupied since January this year and consists of 411 bedrooms.

According to St Modwen, the disposal marks the latest milestone in the delivery of the Swansea University Bay Campus, which forms part of the wider regeneration of the former industrial area.

Guy Gusterson, managing director of Strategic Land & Regeneration at the company, said: "This latest success marks an important milestone for our regeneration of the Bay Campus and wider area, delivers a good return for the group and releases further capital to recycle into future developments."

"We are extremely proud of our valued relationship with Swansea University and what we have delivered together, and we remain keen to support and progress new developments to further enhance this region."