Summary:
- Singapore-based developer UOL has acquired Varley Park, a 771-bed student accommodation complex in Brighton, UK, for £43.5 million (S$75.6 million), marking its entry into the purpose-built student accommodation (PBSA) sector.
- The Varley Park property includes 22 blocks on over 2.8 hectares, featuring modern conferencing facilities and a dining hall, with a leaseback agreement in place with the University of Brighton, ensuring stable income.
- This acquisition aligns with UOL’s strategy to diversify and strengthen recurring income streams, leveraging its expertise in hospitality and residential development, and is funded through a mix of internal capital and external borrowings.
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