IQ Student Accommodation

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]

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

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. "Goldman Sachs: Manchester's new landlord". ftalphaville.ft.com. Retrieved 2020-01-19.
  2. 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. 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.
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