Unite Group PLC Planning Consent for Central Coventry Development (4868I)
March 26 2015 - 3:00AM
UK Regulatory
TIDMUTG
RNS Number : 4868I
Unite Group PLC
26 March 2015
Press release
26 March 2015
THE UNITE GROUP PLC
("Unite Students", "Unite", the "Group", or the "Company")
UNITE SECURES PLANNING APPROVAL FOR CENTRAL COVENTRY
DEVELOPMENT
The Unite Group plc, the UK's leading developer and manager of
student accommodation, has received planning approval by officers
under a delegated decision for a 2.1 acre site in central Coventry.
The new building will provide a 'Home for Success' for 286 students
and completion is anticipated in time for the 2016/17 academic
year.
The property will have a total development cost of GBP17 million
and is expected to deliver returns in line with Unite's targets for
regional development.
The site, acquired from Complex Development Projects (CDP) in
partnership with the Council, is located on Far Gosford Street
adjacent to an existing Unite property, and once complete will form
part of a 1,000 strong student complex close to the University.
Coventry University continues to perform strongly, rising 19
places in The Times and Sunday Times Good University Guide 2015 to
be ranked no. 42, and is home to over 24,000 students.
Richard Simpson, Managing Director of Property for Unite,
commented:
"We are delighted to have received planning consent in Coventry,
as we continue to progress our regional development pipeline.
Achieving planning through delegated decision reflects the
confidence Coventry has in Unite and will enable us to continue
supporting the University by providing a safe, secure home for the
city's growing student population."
Note to Editors
For interviews with Richard Simpson, Managing Director of
Property or Jagdeep Bhogal, Design and Planning Director at Unite
Students please contact:
Unite Students
Rebecca Murch, Corporate Communications Manager Tel: +44 117 302 7081
Bell Pottinger
Victoria Geoghegan / Nick Lambert / Elizabeth Snow Tel: +44 20
3772 2562
About Unite Students
Unite Students is the UK's leading manager and developer of
student accommodation. We provide a home for over 43,000 students
in 125 purpose built properties across 25 of the UK's strongest
university towns and cities. We have over 1,000 employees and work
in partnership with over 50 higher education providers, as well as
renting rooms directly to students.
Our culturally-diverse customers are at the heart of our
business and we aim to provide a home for students that supports
their success, whether defined as academic achievement, personal
growth or employability. Our properties provide high quality,
well-located, safe accommodation that is close to university
campuses, transport and local amenities. Our rent includes a study
bedroom, all bills, insurance, 24-hour security and high speed
Wi-Fi throughout our buildings.
Founded in 1991, Unite Group is a FTSE 250 company listed on the
London Stock Exchange. We are pursuing a sustainable growth
strategy designed to make the most of the resilient nature of the
student accommodation sector. We aim to maintain the strongest
brand in the sector and operate the highest quality portfolio
through consistent investment in and improvement to our operating
platform, highly selective development activity, asset management
initiatives and portfolio recycling.
In addition to our wholly owned properties, we are also invested
in and operate a small number of specialist funds and joint
ventures with institutional investment partners, the largest of
which is the GBP1.5 billion Unite UK Student Accommodation Fund
(USAF).
The Group's charitable trust, the Unite Foundation, supports
widening access to higher education, integrating students into the
community and employability. It provides scholarships for
disadvantaged students at seven universities and volunteering
opportunities for our students and employees through partner
organisations.
For more information visit our corporate website:
www.unite-group.co.uk or www.unite-students.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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