University Partnerships Programme (UPP), a provider of academic accommodation, has acquired interests in a purpose-built student accommodation building at Swansea University Bay Campus for £38 mln (€45 mln) from regeneration specialists St. Modwen.
The recently completed 411-bed property has been occupied by student residents since January 2019.
'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,' said Guy Gusterson, managing director of strategic land & regeneration at St. Modwen.
St. Modwen has led on the transformation of the former industrial area into modern academic, residential and recreational space.
The deal follows the disposal of a first phase of student accommodation, totalling 2005 rooms, to UPP in February 2018.