Singapore’s UOL buys PBSA asset in the UK for €50m

Singapore’s UOL Group Limited (UOL) is making its first venture into student housing by acquiring Varley Park in Brighton, UK, from the University of Brighton for £43.5 mln (€49.9 mln). 

Varley Park

Varley Park consists of student residences with 771 beds across 22 buildings and includes a leaseback agreement with the university. 
UOL sees this acquisition as an opportunity to expand its student accommodation portfolio in key markets, particularly given the sector's strong growth in the UK due to rising student numbers, limited housing supply, and stable income. 
The complex, situated on over seven acres, includes a modern amenity block with conference facilities and a dining hall. 
This purchase, funded by internal resources and external loans, supports UOL's strategy to diversify its assets and build reliable, recurring income streams.
UOL Group chief executive Liam Wee Sin said: “We see strong potential in the Purpose-Built Student Accommodation (PBSA) segment as it is a resilient asset class with strong fundamentals and provides opportunities for us to grow the portfolio in key markets. We also believe that we are able to leverage our strengths in hospitality and residential development in the broader living sector, comprising PBSA, build-to-rent and serviced apartments as it is a natural extension of our core business model.”
The Singapore-listed property and hospitality group already has three income-generating properties in the UK: Pan Pacific London, 120 Holborn Island, and 110 High Holborn. The addition of Varley Park will bring their total UK investment property count to four.
UOL Group’s holdings span across various regions, including Asia, Oceania, Europe, North America, and Africa, and encompass a diverse range of assets, such as development projects, investment properties, hotels, and serviced apartments.