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Metro and friends are buying the Dean Street Works in Bristol
Singaporean property group Metro Holdings has added a second asset to its student housing fund with the purchase of a 181-bed accommodation near the University of Bristol in southwest England.
The fund, Paideia Capital UK Trust, bought the six-storey Dean Street Works for a total consideration of £30.1 million ($41.2 million), including the purchase consideration for the property of £29.4 million and related taxes, fees and expenses of £700,000.
The acquisition in the largest city in England’s southwest is the latest in a series of overseas student housing investments by Singaporean firms including Singapore Press Holdings and Mapletree Investments as institutions seek high yielding opportunities in a time of compressing yields.
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