Archive for category: Misc

SINGAPORE (July 8): UOL Group has acquired the student accommodation complex, Varley Park, for $75.7 million. This marks the company’s first investment in the student accommodation sector and signifies its growth in key markets.Under the sale and purchase agreement (SPA) with the University of Brighton, UOL has acquired the property, which includes 771 operational beds across 22 blocks. Additionally, the asset comes with a leaseback agreement with the university.“We recognize the potential in the purpose-built student accommodation (PBSA) segment, as it is a resilient asset class with strong fundamentals. This acquisition aligns with our strategy to expand our portfolio and presence in key markets,” says Liam Wee Sin, CEO of UOL Group.Looking to diversify your investment portfolio? Consider exploring projects available for sale in various countries around the world.

UOL Group has recently announced the successful acquisition of Varley Park, a student accommodation complex, for a total of GBP43.5 million. This move marks the company’s first entry into the student accommodation sector, as it continues to expand its portfolio in key markets.

The acquisition was made through a sale and purchase agreement with the University of Brighton. As part of the agreement, the university will lease back the property from UOL. The company’s chief executive, Liam Wee Sin, sees strong potential in the purpose-built student accommodation (PBSA) segment, as it is a resilient asset class with strong fundamentals. He goes on to say that this investment also aligns with their core business model, which focuses on hospitality and residential development.

Located at Coldean Lane in Brighton, Varley Park is in close proximity to the University of Brighton’s Falmer campus and the University of Sussex. It also has transportation links to both universities. The property is part freehold and part long leasehold, with a remaining leasehold term of 175 years. It covers an area of approximately 28,500 square meters and includes modern conferencing facilities and a dining hall.

A deposit of GBP4.35 million was paid upon the signing of the contract of sale. UOL’s CEO believes that their expertise in hospitality and residential development can be leveraged in growing their presence in the broader living sector, which includes PBSA, build-to-rent, and serviced apartments.

For those seeking a charming and picturesque dining experience, there is no shortage of options near the Orchid Country Club. Nestled near the club is a plethora of delightful restaurants and cafes, boasting stunning views of either the golf course or the Serletar Reservoir. These dining destinations offer the perfect setting for a casual and enjoyable meal. Regardless of whether you reside in the area or are a member of the club, you will find something to suit your taste buds, including Chinese seafood restaurants, bistros, and lounges. Moreover, with the recent development of Miltonia Close, there are even more choices to choose from, providing an even larger variety for visitors to indulge in. Don’t forget to check out Miltonia Close when planning your next dining experience near the Orchid Country Club.

Shares in UOL closed at $7.30 on Aug 14, rising by 1.96%. With this latest acquisition, UOL is set to continue its growth in key markets and solidify its position as a leader in the property development industry.