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 third
interim dividend of 1.43 pence per
ordinary share, in respect of the quarter ended 31 March 2017. The third interim dividend will be
paid on 5 June 2017 to ordinary
shareholders on the register as at 5 May
2017. The dividend will be paid as 1.11 pence per ordinary share as a REIT property
income distribution ("PID") in respect of the Group's tax exempt
property rental business and 0.32
pence per ordinary share as an ordinary UK dividend
(“non-PID”).
As at close of business on 31 March
2017, the unaudited estimated EPRA net asset value per
ordinary share of the Company was 138.43
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 31 March 2017.
The EPRA net asset value (ex-income) was 137.00 pence per ordinary share as at that
date.
As at 31 March 2017, the valuation
of the Company’s portfolio was £479.1 million. In addition, as at
that date the Company had exchanged contracts to acquire Woburn
Place, London WC1, which was
subsequently purchased on 5 April
2017 at a price of c.£135 million.
26 April 2017
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,
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.
The Company's standing assets are primarily 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.