GCP Student Living : Dividend Declaration and Net Asset Valuation

Released : 31/01/2017 15:02

GCP Student Living plc (the 'Company' or 'Group')


Dividend Declaration and Net Asset Valuation

The Board of GCP Student Living plc, the UK's first REIT focused on student
residential assets, is pleased to announce a second interim dividend of 1.43
pence per ordinary share, in respect of the quarter ended 31 December 2016. The
second interim dividend will be paid on 6 March 2017 to ordinary shareholders
on the register as at 10 February 2017. The dividend of 1.43 pence per ordinary
share will be paid in full as a REIT property income distribution ('PID') in
respect of the Group's tax exempt property rental business.

As at close of business on 31 December 2016, the unaudited estimated EPRA net
asset value per ordinary share of the Company was 138.17 pence. The EPRA net
asset value includes income for the period (cum?income) and does not include a
provision for an accrued dividend for the quarter to 31 December 2016.

The EPRA net asset value (ex-income) was 136.74 pence per ordinary share as at
that date.

As at 31 December 2016, the valuation of the Company's portfolio was £465.7
million.

31 January 2017


For further information please contact:

Gravis Capital Partners LLP                                 [phone]

Tom Ward                [e-mail]
Nick Barker              [e-mail]
Dion Di Miceli          [e-mail]

Stifel Nicolaus Europe Limited                             [phone]

Neil Winward            [e-mail]
Mark Young              [e-mail]
Tom Yeadon            [e-mail]

Buchanan                                                             +44 020
7466 5000

Charles Ryland        [e-mail]
Vicky Watkins          [e-mail]


About GCP Student Living plc

The Company was the first student accommodation REIT in the UK, investing in
modern, purpose?built, private student residential accommodation and teaching
facilities. Its investments are located primarily in and around London where
the Investment Manager believes the Company is likely to benefit from supply
and demand imbalances for student residential accommodation.

The Group has an estimated total asset value of c.£530 million including six
standing assets, providing c.2,000 modern studios and beds, and one
forward-funded development asset which will provide a further c.580 beds on
completion.

The Investment Manager is currently reviewing and conducting due diligence on
assets in the Company's core markets totalling c.2,800 beds and in respect of
which c.980 beds in and around London are under future contractual
arrangements. The Company's standing assets are primarily occupied by
international students and offer high specification facilities and hotel-level
concierge type services which the Investment Manager believes are attractive to
overseas students.