GIC, Unite Students acquire student village in UK

SINGAPORE'S sovereign wealth fund GIC and UK-based manager and developer of student accommodation Unite Students have jointly acquired Aston Student Village (ASV) for £227 million (S$403 million) in a 50:50 joint venture.

In a joint statement, both parties said that ASV represents the first major on-campus acquisition of GIC and Unite Student's London Student Accommodation Joint Venture.

ASV comprises 3,067 beds across five large, detached properties on Aston University's campus in central Birmingham.

It is the only accommodation offered to students at Aston University, which has a student population of 11,000, with no additional accommodation available either under direct ownership or through nominations agreements. The modern, high-quality accommodation is reportedly fully occupied.