- GCP Student Living is considering an equity raise of between £80m and £100m to fund acquisitions.

The company has committed to acquire Scape Surrey (formerly Scape Guildford) and The Pad 2, located adjacent to Royal Holloway, University of London, and is in advanced negotiations for the acquisition of a c.550 bed new build asset in a prime London location.

These three developments, with an aggregate of c.800 beds, are close to completion for the start of the 2015-16 academic year.

Following the acquisition of these three assets, the Company will have a portfolio of properties located in and around London with an aggregate of c.1,800 beds.

It is currently envisaged that any such capital raise would be structured by way of an issue of convertible preference shares. Any issue of C Shares would be structured so as to not be dilutive to existing shareholders' NAV, with any costs directly attributable to such issuance being borne by subscribers to the C Share issue.

GCP Student Living plc, the first student accommodation REIT in the UK, also reported strong half year results with a total profit of £11.9m in te period to the end of December.

The group reports total shareholder returns for the period of 10%, including NAV per share growth of 7.8% to 110.77p.

At 2:17pm: [LON:DIGS] GCP Student Living Plc share price was 0p at 115p

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