GCP Student Living plc (the "Company" or “Group”)
Dividend Declaration and Net Asset Valuation
The Board of GCP Student Living plc, the UK's first REIT focused
on student residential assets, is pleased to announce a first
interim dividend of 1.43 pence per
ordinary share, in respect of the quarter ended 30 September 2016. The first interim dividend
will be paid on 5 December 2016 to
ordinary shareholders on the register as at 4 November 2016. The dividend of 1.43 pence per ordinary share will be paid in
full as a REIT property income distribution ("PID") in respect of
the Group's tax exempt property rental business.
As at close of business on 30 September
2016, the unaudited estimated EPRA net asset value per
ordinary share of the Company was 137.41
pence. The EPRA net asset value includes income for the
period (cum-income) and does not include a provision for an accrued
dividend for the quarter to 30 September 2016.
The EPRA net asset value (ex-income) was 135.98 pence per ordinary share as at that
date.
As at 30 September 2016, the
valuation of the Company’s portfolio was £449.9 million.
27 October 2016
For further information please contact:
Gravis Capital Partners
LLP
+44 020 7518 1490
Tom Ward
tom.ward@gcpuk.com
Nick
Barker
nick.barker@gcpuk.com
Dion Di Miceli
dion.dimiceli@gcpuk.com
Stifel Nicolaus Europe
Limited
+44 020 7710 7600
Neil
Winward
neil.winward@stifel.com
Mark
Young
mark.young@stifel.com
Tom
Yeadon
tom.yeadon@stifel.com
Buchanan
+44 020 7466 5000
Charles Ryland
charlesr@buchanan.uk.com
Vicky Watkins
victoriaw@buchanan.uk.com
About GCP Student Living plc
The Company was the first student accommodation REIT in the UK.
The Company invests in modern, purpose-built, private student
residential accommodation and teaching facilities. Its investments
are located primarily in and around London where the Investment Manager believes
the Company is likely to benefit from supply and demand imbalances
for student residential accommodation.
The Company currently owns and operates c.2,000 beds across six
properties, which are fully occupied, and has secured a further
c.750 beds currently expected to be operational for the 2017/18
academic year. Its operational assets are primarily occupied by
international students and offer new high specification facilities
and hotel-level concierge type services which the Investment
Manager believes are attractive to overseas students.