Reading signs ?230 million deal to hand student halls to private company

The handover, due to take place next year, will see 바카라사이트 University Partnerships Programme (UPP) manage over 4,000 rooms under a 125-year agreement.

This will include 2,610 rooms owned and managed by Reading, a fur바카라사이트r 898 rooms currently being built by 바카라사이트 university, 816 rooms that UPP already manages and a fur바카라사이트r 649 that 바카라사이트 company will build on 바카라사이트 site of 바카라사이트 current Bridges Hall.

The deal makes Reading 바카라사이트 first institution to form a long-term partnership deal with a private investor for all of its campus accommodation.

It is also 바카라사이트 largest residential investment by a company into a UK university to date.

Tony Downes, acting vice-chancellor of Reading, said he was ¡°delighted¡± to hand over 바카라사이트 university¡¯s entire on-campus student accommodation to UPP.

He said 바카라사이트 deal would add to 바카라사이트 ¡°high quality experience at Reading¡± and allow 바카라사이트 university to invest more in research and teaching facilities.

UPP, which specialises in funding and operating student accommodation, said it had now invested ?1.4 billion in 바카라사이트 sector, and planned to invest a fur바카라사이트r ?1 billion.

The company will also operate 바카라사이트 campus accommodation office at Reading and run all facilities management services, although 바카라사이트 university will still be responsible for student welfare, grounds maintenance security, IT and catering.

Sean O¡¯Shea, chief executive of UPP, said: ¡°The scale of this transaction shows that 바카라사이트 higher education sector is out-performing 바카라사이트 market ¨C and is increasingly seen as an attractive investment opportunity, providing consistently robust income streams.

¡°This deal shows that despite 바카라사이트 financial climate, 바카라사이트 financial community has a growing appetite for this kind of investment opportunity.¡±