Centurion Corporation is spending £41 million ($71 million) to acquire a site that marks its entry into the student dorm market of London.
The company is buying the William Road site via a 99-1 joint venture with US real estate firm Landmark Properties.
The property to be developed will have accommodation space for 225 beds plus office space.
Centurion believes this site is ideal as it is within a 10-minute walk from the likes of The University of London’s Bloomsbury Campus, home to University College London, Birkbeck College, and the School of Oriental and African Studies, as well as University College London Hospital.
London will be the company's sixth UK city.
The London property will be Centurion’s first EPIISOD-branded student dormitory in the UK, and the second property under its new premium student accommodation brand following EPIISOD Macquarie Park in Sydney, Australia, which will be ready in 1Q 2026.
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Centurion says this deal signals its ability to efficiently deploy proceeds from the recent spin-off listing into acquisition and development opportunities.
This acquisition underscores its confidence in this market, which is still in a demand-supply imbalance.
"This acquisition reflects our disciplined capital recycling as we actively reinvest proceeds from the Centurion Accommodation REIT spin-off into strategic opportunities in living accommodation assets that enhance the group’s portfolio quality and income visibility," says CEO Kong Chee Min.
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"We continue to evaluate a robust pipeline across our core markets and are prepared to deploy capital where our development and management expertise can create longterm value for stakeholders," he adds.
Centurion Corp shares closed at $1.42 on Oct 14, down 2.74% for the day but up 48% year to date.
