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IQ Student Accommodation

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iQ company logo
Broderick House, Birmingham, an IQ student building

IQ Student Accommodation is a British student housing company that owns 66 halls of residence with 28,000 bedrooms. Its majority shareholders are the bank Goldman Sachs and the charity Wellcome Trust.[1]

History

In 2016, the Wellcome Trust merged its student accommodation business with Prodigy Living, owned by Goldman Sachs and Greystar Real Estate Partners, thereby founding the company.[2]

In December 2017, IQ bought Pure Student Living from LetterOne Treasury Services for £869 million, adding 11 sites in London, Edinburgh, York, Bath and Brighton.[3]

As of February 2018, IQ owned 66 student halls,[2] with 28,000 bedrooms, and a valuation of about £3 billion.[3] IQ is the UK's largest provider of purpose-built student accommodation by value, and second largest by number of bedrooms (after Unite Students).[2] IQ has the largest London portfolio, with 6,700 rooms in 15 sites.[3]

In February 2018, Penny Hughes was appointed as chair, joining Rob Roger who was the chief executive (CEO).[2]

In June 2019, it was announced that IQ Student Accommodation was planning to build a cohabitation development in Manchester, not specifically aimed at students.[1][4] This would be the first development of this kind in Manchester.[1]

In February 2020, Blackstone announced plans to purchase the company for £4.66 billion.[5]

References

  1. ^ a b c "Goldman Sachs: Manchester's new landlord". ftalphaville.ft.com. Retrieved 2020-01-19.
  2. ^ a b c d Curry, Rhiannon (18 February 2018). "RBS director to chair UK's largest student digs company". The Telegraph. The Daily Telegraph. Retrieved 10 September 2018 – via www.telegraph.co.uk.
  3. ^ a b c Lynch, Russell (19 February 2018). "London student digs giant iQ eyes float after £870m buy". Evening Standard. Retrieved 10 September 2018.
  4. ^ Armstrong, Kate (2019-06-12). "Investing in the UK: Where to look". Investors Chronicle. Retrieved 2019-07-12.
  5. ^ "Blackstone to buy British student housing group iQ for $6 billion". Reuters. 2020-02-26. Retrieved 2020-09-18.{{cite news}}: CS1 maint: url-status (link)
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