- GCP Student Living has exchanged contracts for Woburn Place, a private student accommodation asset located at a prime central London position in Bloomsbury, WC1.

Woburn Place, which is currently owned and operated by Unite Students, is within short walking distance of University College London (c.38,000 students from 150 countries), SOAS University of London (c.5,000 students from 133 countries) and two teaching hospitals, University College Hospital and Great Ormond Street Hospital.

The London School of Economics, Kings College London, City University and University of the Arts, London, are also within walking distance, bringing the total number of students in close proximity to Woburn Place to c.100,000.

The purchase price for the asset is approximately £135m.

The acquisition, which is expected to complete in April 2017, will be funded through a mixture of the net proceeds of the recently completed placing and offer for subscription, as announced by the company on 22 February, and debt.

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