GCP Student Living plc (the "Company" or "Group")
     

    Dividend Declaration and Net Asset Valuation

    The Board of GCP Student Living plc, the UK's first REIT focused on student
    residential assets, is pleased to announce a second interim dividend of 1.43
    pence per ordinary share, in respect of the quarter ended 31 December 2016. The
    second interim dividend will be paid on 6 March 2017 to ordinary shareholders
    on the register as at 10 February 2017. The dividend of 1.43 pence per ordinary
    share will be paid in full as a REIT property income distribution ("PID") in
    respect of the Group's tax exempt property rental business.

    As at close of business on 31 December 2016, the unaudited estimated EPRA net
    asset value per ordinary share of the Company was 138.17 pence. The EPRA net
    asset value includes income for the period (cum?income) and does not include a
    provision for an accrued dividend for the quarter to 31 December 2016.

    The EPRA net asset value (ex-income) was 136.74 pence per ordinary share as at
    that date.

    As at 31 December 2016, the valuation of the Company's portfolio was £465.7
    million. 

    31 January 2017
     

    For further information please contact:

    Gravis Capital Partners LLP                                 +44 020 7518 1490

    Tom Ward                tom.ward@gcpuk.com     
    Nick Barker              nick.barker@gcpuk.com         
    Dion Di Miceli          dion.dimiceli@gcpuk.com      

    Stifel Nicolaus Europe Limited                             +44 020 7710 7600

    Neil Winward            neil.winward@stifel.com        
    Mark Young              mark.young@stifel.com    
    Tom Yeadon            tom.yeadon@stifel.com         

    Buchanan                                                             +44 020
    7466 5000

    Charles Ryland        charlesr@buchanan.uk.com    
    Vicky Watkins          victoriaw@buchanan.uk.com


    About GCP Student Living plc

    The Company was the first student accommodation REIT in the UK, investing in
    modern, purpose?built, private student residential accommodation and teaching
    facilities. Its investments are located primarily in and around London where
    the Investment Manager believes the Company is likely to benefit from supply
    and demand imbalances for student residential accommodation.

    The Group has an estimated total asset value of c.£530 million including six
    standing assets, providing c.2,000 modern studios and beds, and one
    forward-funded development asset which will provide a further c.580 beds on
    completion.

    The Investment Manager is currently reviewing and conducting due diligence on
    assets in the Company's core markets totalling c.2,800 beds and in respect of
    which c.980 beds in and around London are under future contractual
    arrangements. The Company's standing assets are primarily occupied by
    international students and offer high specification facilities and hotel-level
    concierge type services which the Investment Manager believes are attractive to
    overseas students.