St Modwen sells student accommodation scheme in £38m deal

St Modwen has completed the sale of its interests in a purpose-built student accommodation building at Swansea University Bay Campus in a deal worth £38m.

The 411-bedroom accommodation was sold to University Partnerships Programme (UPP Group), a leading provider of on-campus residential and academic accommodation infrastructure.

The accommodation has been occupied by student residents since January.

Guy Gusterson, managing director of strategic land & regeneration at St Modwen, said: “This latest success marks an important milestone for our regeneration of the Bay Campus and wider area, delivers a good return for the Group and releases further capital to recycle into future developments. We are extremely proud of our valued relationship with Swansea University and what we have delivered together, and we remain keen to support and progress new developments to further enhance this region.”