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Birkin Student Homes

  • BY: Andrew Hore |
  • POSTED: 26/01/2016 |

Student accommodation-focused REIT Birkin Student Homes is planning to join Aim in early February.

The holding company was set up on 9 December 2015 and a number of apparently related companies were set up by chief executive, and currently 99.9% shareholder, Brandon Smith-Hilliard just prior to this. The focus of Birkin is purpose built accommodation outside of London and sites in Nottingham, Newcastle and Bournemouth have been acquired with more to follow. These areas have a shortage of student accommodation and high initial yields. The properties will normally be acquired as a long-term investment.

The accounting year end is August.

The shares will be issued at 100p each, which values Brandon Smith-Hilliard’s stake at £500,000.

One of the early successes on AIM was student accommodation developer and investor Unite Group. Unite joined Aim in June 1999 when it was valued at £20.5m. It moved to the Main Market the following year when it was valued at £90m and it is currently capitalised at £1.4bn.

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