GCP Student Living plc
(“GCP Student” or the “Company”, together with its subsidiaries
the “Group”)
LEI: 2138004J4ID66FK38H25
Net Asset Value and Dividend
Net Asset Value
GCP Student, the UK's first REIT focused on student residential
assets, today announces that at close of business on 30 September 2018, the unaudited estimated EPRA
net asset value per ordinary share of the Company was 153.02 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
2018.
The EPRA net asset value (ex-income) was 151.49 pence per ordinary share as at that date,
representing a quarterly increase of 2.6%.
Dividend
The Board is pleased to announce a first interim dividend of
1.53 pence per ordinary share, in
respect of the quarter ended 30 September
2018. The first interim dividend will be paid on
17 December 2018 to ordinary
shareholders on the register at 16 November
2018. The dividend will be paid as 1.13 pence per ordinary share as a REIT property
income distribution ("PID") in respect of the Group's tax exempt
property rental business and 0.40
pence per ordinary share as an ordinary UK dividend
(“non-PID”).
7 November 2018
For further information please contact:
Gravis Capital Management Limited
+44 020 3405 8500
Tom
Ward
tom.ward@graviscapital.com
Nick
Barker
nick.barker@graviscapital.com
Dion Di
Miceli
dion.dimiceli@graviscapital.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
Henry Wilson
henryw@buchanan.uk.com
About GCP Student
The Company was the first student accommodation REIT in the UK,
investing 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.
GCP Student’s property portfolio comprises ten assets with
c.3,600 beds, including one asset which is expected to complete
construction for the 2019/20 academic year. At 30 September 2018, its property portfolio was
valued at £816.8 million.
The Company’s standing properties are predominantly occupied by
international students and offer high specification facilities and
hotel-level concierge type services which the Investment Manager
believes are attractive to overseas students.