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GCP Student Living Property Portfolio Now Fully Occupied

(Alliance News) - GCP Student Living PLC said Tuesday its operational property portfolio is now ...

Alliance News 3 September, 2019 | 2:13PM
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(Alliance News) - GCP Student Living PLC said Tuesday its operational property portfolio is now fully occupied for the 2019/2020 academic year.

The real estate investment trust said it average rental growth is 4.4% on a like-for-like basis compared to the previous academic year.

GCP Student Living clarified that full occupancy can be determined if a property is no less than 97% full.

At June 30, the valuation of the company's portfolio stood at GBP921.6 million, 87% of which was located in and around London. GCP Student's portfolio contained about 4,100 beds at the end of June with a net initial yield of 4.54%.

Shares in GCP Student Living were 0.1% higher in London on Tuesday afternoon at 162.98 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
GCP Student Living Ord 169.40 GBX -0.82 -

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