GCP Student Living Novation of Investment Management Agreement
April 20 2017 - 4:24AM
UK Regulatory
TIDMDIGS
GCP Student Living plc
(the "Company")
Novation of Investment Management Agreement
20 April 2017
The Company has today approved the novation of its Investment Management
Agreement from Gravis Capital Partners LLP to Gravis Capital Management
Limited, as part of the transfer of the Investment Manager's fund management
and advisory business from a limited liability partnership to a
newly-incorporated limited company under substantially the same ownership.
All other contractual arrangements in the Investment Management Agreement
including fees, term, key persons and service provision remain unchanged.
For further information, please contact:
Gravis Capital Management Ltd +44 20 7518 1490
Tom Ward tom.ward@gcpuk.com
Nick Barker nick.barker@gcpuk.com
Dion Di Miceli dion.dimiceli@gcpuk.com
Stifel Nicolaus Europe Limited +44 20 7710 7600
Neil Winward neil.winward@stifel.com
Mark Young mark.young@stifel.com
Tom Yeadon tom.yeadon@stifel.com
Buchanan +44 20 7466 5000
Charles Ryland charlesr@buchanan.uk.com
Vicky Watkins victoriaw@buchanan.uk.com
About GCP Student Living plc
The Company was the first student accommodation REIT in the UK, investing in
modern, purpose-built, private student residential accommodation and teaching
facilities. Its investments are located primarily in and around London where
the Investment Manager believes the Company is likely to benefit from supply
and demand imbalances for student residential accommodation.
The Group has an estimated total asset value of c.GBP690 million including six
standing assets, providing c.2,000 modern studios and beds, and one
forward-funded development asset which will provide a further c.580 beds on
completion. A further asset, Woburn Place, will provide c.420 beds following
refurbishment.
The Company's standing assets are primarily occupied by international students
and offer high specification facilities and hotel-level concierge type services
which the Investment Manager believes are attractive to overseas students.
END
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