(Sharecast News) - St Modwen has completed the sale of its interest in a purpose-built student accommodation building at Swansea University Bay Campus for £38m.
The 411-bedroom accommodation was sold to University Partnerships Programme, which provides on-campus residential and academic accommodation infrastructure.
Following completion of the building, the accommodation has been occupied by student residents since January 2019.
St Modwen said the planned disposal marks the latest milestone in the delivery of the Swansea University Bay Campus as part of its wider regeneration of the former industrial area into modern academic, residential and recreational space.
Guy Gusterson, managing director of Strategic Land & Regeneration at the company, 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.
"We are extremely proud of our valued relationship with Swansea University and what we have delivered together, and we remain keen to support and progress new developments to further enhance this region."
22 Nov 2019 08:04
UPDATE 1-Land Securities names St. Modwen Properties' Mark Allan CEO
(Adds executive comment, details on Allan's salary)Nov 22 (Reuters) - British property developer Land Securities Group on Friday named St. Modwen Properties' top boss Mark Allan as its new chief executive officer, replacing Robert Noel, who will s...
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