Singapore-based student housing developer Centurion has completed the purchase of its second property in Nottingham.
The group has bought Archer House, a 177-bedroom student property at 14-22 Castle Gate, for £15.1m.
The acquisition boosts Centurion’s total student portfolio to 33 assets globally, with more than 65,000 bedrooms. In the UK it currently has 11 purpose-built student blocks with 2,852 bedrooms.
In September, the firm bought the 133-bedroom Castle Gate Haus in Nottingham for £10.2m, its debut in the UK city.
Archer House will be managed under Centurion’s student accommodation brand, dwell.
Centurion chief executive Kong Chee Min said: “Our student accommodation portfolio in the UK has continued to benefit from the positive supply-demand dynamics of the student accommodation sector, and Nottingham is one of the key cities in which we are keen to expand. Dwell Castle Gate Haus has achieved close to full occupancy in the current academic year and we expect dwell Archer House to perform similarly well.
“With the addition of dwell Archer House we are poised to capitalise on rising demand for student housing in the UK. We remain selective in pursuing strategic acquisitions such as dwell Archer House to enhance our global portfolio of quality accommodation assets and recurring income for the group.”
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