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      Bidwells advise Aberdeen Standard on £68.8m prime Central London student block purchase

      Bidwells has advised Standard Life Pooled Property Pension Fund in acquiring Grosvenor House - a student accommodation block on Covent Garden’s Drury Lane - from GH Partnership Limited for £68.8 million.

      03 Sep 2018 1 MINUTE READ

      Grosvenor House is currently let to the London School of Economics and Political Science (LSE) until September 2027. 

      Comprising 46,627 sq ft over a basement, ground floor and six upper floors, Grosvenor House serves as accommodation for graduate students of the university. 

      Colin Summers, Partner, Capital Markets, Bidwells, said: “We were delighted to be involved in the acquisition of this ultra-prime student accommodation let to the London School of Economics. Located adjacent to Freemason’s Hall and a stone’s throw from the Royal Opera House, in our view, this is as prime as student gets.”

      David Stewart, Fund Manager for Aberdeen Standard Investments, said: “The purchase of Grosvenor House is aligned with the fund’s strategy of increasing its exposure to alternatives through the acquisition of high-quality assets in prime locations with the potential for active asset management.” 

      Savills acted for GH Partnership Limited. 

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