12 May 2021 | 09:36am
StockMarketWire.com - Real estate investment company GCP Student reported a rise in quarterly earnings growth as a strengthening in investment markets and an improving environment for students booted its portfolio valuation.
For the quarter ended 31 March 2021, EPRA net tangible assets increased by 4.5% to 179.07 pence from the December quarter.
At 31 March 2021, the valuation of the company's portfolio was £1.06 billion.
'There are encouraging signs for the next academic year with total UCAS applications up 8% nationally and strong growth in applications from domestic, mature and non-EU international students alike,' the company said.
'Whilst applications from EU students have declined in the immediate aftermath of Brexit, it remains difficult to assess whether this represents a longer term trend. Approximately 13% of the Group's direct let portfolio was occupied by EU students pre-pandemic.