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UK: Housing association Sanctuary is continuing to look at selling part of its student housing portfolio as part of a review of its property business, according to its latest audited accounts.
The registered provider, which owns and manages more than 125,000 homes, said it is still looking to sell some of its student accommodation. Last year, it was reported that Sanctuary had entered into a £400 million agreement with investor GSA, but the group has not confirmed the reports.
Sanctuary said in its latest accounts: “We continued to take a strategic, long-term view of our asset portfolio to ensure it supports our core social purpose. As part of this, we are actively pursuing the sale of some of our student portfolio.”
The organisation manages more than 10,000 student beds across the UK. It is also considering the sale of 2,000 shared ownership homes to create funds to invest in current homes and services.
The accounts showed Sanctuary returned to a £61.3 million surplus, compared with a £29.7 million deficit the previous year. Turnover also grew by three per cent to £1.22 billion, with student housing income up by £9.3 million.
During the year, Sanctuary completed 790 new homes and invested £126.5 million in improving its existing properties.
Highlights:
- Sanctuary is continuing plans to sell part of its student housing portfolio as it reviews its property assets, according to its latest audited financial accounts
- The housing provider manages more than 10,000 student homes and is also considering the sale of 2,000 shared ownership properties to fund future investment
- Sanctuary reported a £61.3 million surplus for the year, compared with a £29.7 million deficit the previous year, while turnover increased to £1.22 billion
- Reports suggested Sanctuary agreed a £400 million deal with investor GSA for its student accommodation portfolio, although the housing provider has not confirmed the reports
- During the year, Sanctuary completed 790 new homes and invested £126.5 million in improving its existing housing portfolio
