St Modwen has completed the sale of a 411-bed purpose-built student block at Swansea University Bay Campus for £38m.
The building was sold to University Partnerships Programme, a provider of on-campus residential and academic accommodation infrastructure.
The building has been occupied by student residents since January 2019.
The planned disposal marks the latest milestone in the delivery of the Swansea University Bay Campus as part of St Modwen’s wider regeneration of the former industrial area into modern academic, residential and recreational space. It follows the disposal of a first phase of student accommodation, totalling 2005 rooms, to UPP in February 2018.
Guy Gusterson, managing director of strategic land and regeneration at St Modwen, said: “This latest success marks an important milestone for our regeneration of the Bay Campus and wider area, delivers a good return for the group and releases further capital to recycle into future developments.”
The deal takes the number of rooms operated by UPP on the Bay Campus to 2,432 and boosts UPP’s portfolio of over 35,000 rooms in operation or under construction through long-term partnerships with 15 UK universities.
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