I'm very surprised no one picked this up. I guess valad didnt...

I'm very surprised no one picked this up. I guess valad didnt want to announce this until it was actually sold.
I think worse case they will sell it for aud$160m. 3 bidders left so looks like the sale will be executed soon!

http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3133802
Valad halls sale at £80m
13.02.09
Valad has put a student accommodation portfolio up for sale for around £80m to raise cash after writedowns, redundancies and a share price plunge

The beleaguered Australian company, which two weeks ago revealed plans for a debt-for-equity swap with Kevin McCabe’s Scarborough Group, is marketing almost all of the assets in its University Capital Trust student housing fund. Properties in the fund are located across the UK. It is thought that three bidders are left in the running, among them established student residence providers and new entrants to the market.

Other providers, such as Unite, are also disposing of non-core assets.