20 December 2021: iQ Student Accommodation (“iQ”) and Scape Living (“Scape”) have today completed the acquisition of GCP Student Living plc (“GCP”). GCP owns a high-quality portfolio of 11 student accommodation properties located in London and the South of England. The portfolio will be divided between Scape and iQ – with six properties transferring to iQ and five properties transferring to Scape.
The six properties being acquired by iQ are located in Mile End and Greenwich in London, as well as Brighton, Egham and Bristol. They will be integrated into iQ’s portfolio and rebranded as iQ in the first half of 2022. The acquisition takes iQ’s portfolio to 76 properties, comprising over 30,000 rooms across 29 university towns and cities across the U.K.
Matt Merrick, CEO of IQ, commented: “We are delighted to be adding six new sites to iQ’s growing portfolio. As one of the leading owner-operators of purpose-built student accommodation in the U.K., we are looking forward to integrating the new properties into the iQ platform and welcoming new team members. We are committed to providing students with a high-quality living experience and this acquisition will enable us to bring our offer to more students across the U.K.”
iQ owns and operates all of its sites across the U.K. It offers a range of high quality and well-located homes for students, and delivers a differentiated student living experience that prioritises wellbeing and a sense of community through shared social and study spaces, free gym facilities, and a programme of events that promotes social connections and make it easier for students to settle in. This customer-centric approach has led to improved satisfaction scores year-on-year, and strong rebooking rates, demonstrating iQ’s sustained commitment to the student experience and the overall quality of the accommodation offering.