London SE1 community website

Bahrainis sell LSE’s Sidney Webb House to Unite

London SE1 website team

Sidney Webb House, a 446-bed student hall of residence in Great Dover Street, has been sold by its Bahraini owners as part of a wider £271 million deal.

Bahrainis sell LSE’s Sidney Webb House to Unite

The seven-storey building provides accommodation for students of the London School of Economics.

Ahli United Bank of Bahrain bought the building in 2011 for £23 million.

Now it is part of a 2,100 bed student accommodation portfolio purchased by Unite UK Student Accommodation Fund for £271 million.

Unite Group plc has a 22 per cent stake in the fund.

"Following its recent capital raising, we are delighted that USAF has been able to complete the acquisition of one of the highest quality portfolios in the market," said Mark Allan, CEO of Unite Students.

"The portfolio is highly complementary to USAF's existing portfolio and we see real opportunities to drive additional value through the introduction of our brand and operating platform as well as specific asset management opportunities."

The SE1 website is supported by people like you
We are part of
Independent Community News Network
Email newsletter

For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.

Archive
News archive from February 1999 to January 2001
Got a story for us?
Contact us with your tip-offs and story ideas.