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20 Aug 2021 16:10
GCP Student Living plc
("GCP Student" or the "Company", together with its subsidiaries the "Group")
LEI: 2138004J4ID66FK38H25
Bookings update
Following A-Level results day on Tuesday 10th August, bookings continue to increase across the portfolio. Marketing continues with a limited amount of discounting being used for certain room types at some of the assets.
As at 20th August, bookings for the 2021/22 academic year are currently at 56%. This compares with 95% at the same point in 2019, the most recent pre-pandemic year, and 63% at the same point in 2020.
The Company continues to anticipate the 2021/22 booking season being condensed and back-ended. However, the Company also continues to believe that total bookings for the 2021/22 academic year will be impacted by global travel restrictions.
For further information please contact:
GCP Student Living via Gravis / Jefferies / Buchanan
David Hunter
Gravis Capital Management Limited +44 020 3405 8500Nick Barker Joe McDonagh
Jefferies International Limited +44 020 7029 8000 Philip Noblet
Tom Yeadon
Rishi Bhuchar
James Thomlinson
Buchanan / Quill +44 020 7466 5000Helen Tarbet Henry Wilson
About GCP Student
The Company is the only UK REIT focused on modern, purpose-built private student accommodation in and around London .
Its investments are located where the Investment Manager believes the Company is likely to benefit from supply and demand imbalances for student residential accommodation. GCP Student's property portfolio comprises eleven operational assets with c.4,100 beds. At 30 June 2021, its property portfolio was valued at £1.14 billion.
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