Centurion Corporation’s Strategic Entry into London: £41 Million PBSA Acquisition to Expand UK Portfolio and Unlock Shareholder Value

Key Highlights

• Major Acquisition: Centurion Corporation Limited acquires a prime central London Zone 1 land site for £41 million (~S\$71 million) to develop a c.225-bed Purpose-Built Student Accommodation (PBSA) under its new premium brand, EPIISOD.
• London Market Entry: This marks Centurion’s first foray into London, expanding its UK portfolio to six cities and strengthening its position in the global student accommodation sector.
• Joint Venture Structure: The acquisition is executed through Centurion’s wholly-owned subsidiary, Centurion Overseas Investments Pte. Ltd., partnering with Landmark Properties (US-based), with Centurion holding 99% equity in the JV.
• Portfolio Expansion: The acquisition follows Centurion’s recent listing of Centurion Accommodation REIT (CAREIT) on SGX in September 2025, highlighting efficient capital recycling and strategic reinvestment.
• Strong Market Fundamentals: The UK PBSA market faces a persistent supply-demand imbalance, especially in London, where over 100,000 additional beds are needed. Occupancy rates and rental growth remain strong, driven by robust domestic and international student demand.
• Brand Diversification: The London site will be Centurion’s first EPIISOD-branded PBSA in the UK and its second globally, following the Sydney asset slated to open in 1Q 2026.
• Asset Details: The development will include 225 beds (studio and en suite cluster units) across basement, ground, and 14 upper floors, plus 341 sqm of amenity space. An adjacent building to be refurbished into 1,090 sqm of affordable office space.

Detailed Analysis and Investor Implications

Centurion Corporation Limited has made a significant stride in its international expansion strategy by acquiring a prime development site at William Road, Euston, London for £41 million. The site, located within a 10-minute walk of University College London’s Bloomsbury campus and other top-tier institutions, is ideally positioned to attract strong student demand thanks to its central Zone 1 location and excellent transport connectivity.

This acquisition is executed via a joint venture with Landmark Properties, a respected US real estate firm, in which Centurion retains a dominant 99% equity stake. The development will include a c.225-bed PBSA offering a mix of studio and cluster en suite units, designed to appeal to both domestic and international students seeking quality, professionally managed accommodation. The scheme will feature 341 sqm of communal amenities, and the adjacent Euston Two building will be refurbished into 1,090 sqm of affordable office space, further enhancing asset value and potential revenue streams.

Strategically, this move follows the successful listing of Centurion Accommodation REIT (CAREIT) on the SGX in September 2025, demonstrating Centurion’s ability to efficiently redeploy capital and reinforce its asset-light growth model. The London acquisition is poised to enlarge Centurion’s Assets Under Management (AUM), diversify its revenue base, and strengthen its competitive position in the global accommodation market.

Market fundamentals are highly favorable: London’s student accommodation sector is experiencing a pronounced supply shortfall, with a current student-to-bed ratio of 2.9 and a need for over 100,000 new beds. This ensures sustained demand and resilient rental growth, aligning with Centurion’s focus on premium, professionally managed accommodation assets.

From a branding perspective, this asset will be the first in the UK under Centurion’s premium EPIISOD brand, following the EPIISOD Macquarie Park launch in Sydney (due 1Q 2026), furthering Centurion’s move up the value chain and targeting higher-margin segments.

Why Shareholders Should Pay Attention

• Potential Share Price Catalyst: The acquisition marks Centurion’s entry into London, one of the world’s most lucrative and undersupplied student accommodation markets. This could drive future revenue growth, improve portfolio quality, and enhance shareholder value.
• Efficient Capital Deployment: Proceeds from the CAREIT spin-off are being actively reinvested into high-potential assets, signalling disciplined capital management and strategic intent.
• Brand and Market Expansion: The introduction of the EPIISOD premium brand in London is likely to attract higher-paying tenants, strengthen Centurion’s market positioning, and offer higher yields.
• Robust Pipeline: Management has indicated a strong pipeline of acquisition and development opportunities in core markets, suggesting continued growth momentum.
• Resilient Demand: London’s persistent PBSA demand-supply gap and high occupancy rates underpin medium-term rental growth, asset value appreciation, and potential upside for shareholders.

About Centurion Corporation

Centurion is a leading provider of purpose-built worker and student accommodation in Asia-Pacific, the UK, US, and China, with 43 operational assets totalling 77,443 beds as of September 2025. The Group manages assets under the Westlite Accommodation and Dwell brands, and has launched EPIISOD as its premium PBSA offering. Centurion is also the sponsor of CAREIT, a real estate investment trust focusing on accommodation assets, further supporting an asset-light growth strategy.

Conclusion

Centurion Corporation’s strategic expansion into London with the £41 million PBSA acquisition is a major development for the company and its shareholders. The move is likely to drive future growth, improve portfolio quality, and unlock new revenue streams, supported by robust market fundamentals and disciplined capital deployment. Investors should closely monitor further updates on development progress, occupancy rates, and yield enhancements as this asset comes online.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with financial advisors before making any investment decisions related to Centurion Corporation Limited or its securities.

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