Saying they were negatively surprised by the year-on-year decline in media revenue at SPH, CGS CIMB recently said that Singapore Press Holdings is now anchored by property.
“The property segment now forms 2/3 of SPH’s profits and delivered higher steady income stream from the recent acquisitions of SPH Reit , Figtree Grove in Australia and the Rail Mall. SPH has also expanded its UK student accommodation portfolio to S$369m with two smaller assets in Lincoln and Glasgow; we expect more sizeable ones in the pipeline. The residential component of Woodleigh Residences is scheduled for official sales launch by May 2019.
Following CGS-CIMB’s report that Singapore Press Holdings is now being anchored by property, Singapore Press Holdings Limited on April 16 announced that it will acquire a portfolio of Purpose-Built Student Accommodation in the United Kingdom. Woodleigh Residences sells 60 per cent of 50 units released for sale at soft launch
Adding to the recent acquisition of 380 beds in Lincoln and Glasgow, SPH’s PBSA portfolio has a total capacity of over 5,000 beds across 20 assets in 10 cities. The AUM is now in excess of S$600 million, establishing SPH as a leading PBSA player in the UK. Sales and marketing capabilities have also been expanded, with a centralised marketing and sales office. A community portal is also being developed for the 2019/2020 academic year, supported with backend business processes and booking systems. The portal is envisaged to define the students’ experience and be the connection through which Capitol Students partners the institutions and parents on the students’ lifeshaping campus journey.
Source: News Formal (newsformal.com)
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