UK: Housing association Sanctuary has announced the sale of its £400 million student accommodation portfolio, with Global Student Accommodation (GSA) ready to complete the deal.
In October 2024, Sanctuary Housing Association announced that it was seeking a buyer for 5,600 bedrooms across 21 of its student schemes.
The sale contributes to Sanctuary’s aim to unlock and recycle capital for new investment within its existing affordable homes.
The 125,000-home association is selling the assets in eight different locations: Manchester, Salford, London, Brighton, Bradford, Falmouth, Liverpool, Preston and Ormskirk.
Sanctuary, which provides homes in England and Scotland to a quarter of a million people, said it aims to build affordable homes and sustainable communities in desirable areas.
The company’s bigger properties have on-site teams, and all its sites provide residential access to a 24-hour support network.
The support team includes caretakers, online reporting and a maintenance helpline for any emergency repairs.
In May 2025, Sanctuary reported a deficit of around £30 million in its 2024/25 accounts, which was attributed to property revaluations and a development write-down.
The £30 million deficit compares to a surplus of £207 million the previous year, the latter figure inflated by a £162 million gain from the acquisition of Johnnie Johnson Housing Trust.
In a statement, Sanctuary Housing Association said: “The group will report a deficit before tax in the region of £30 million. This is due, in the main, to downward revaluation movements on the group’s student and commercial properties, and a write-down in the carrying value of a development site.”
Highlights:
– Sanctuary announced the sale of £400 million student housing portfolio to GSA
– The deal covers 5,600 student beds across 21 UK sites including Manchester, London, and Brighton
– The asset sale will support Sanctuary’s affordable housing investment strategy
