Unite Group PLC (The) Planning Approval for Nottingham Development (0036T)
March 22 2021 - 3:00AM
UK Regulatory
TIDMUTG
RNS Number : 0036T
Unite Group PLC (The)
22 March 2021
PRESS RELEASE
22 March 2021
THE UNITE GROUP PLC
('Unite Students', 'Unite', the 'Group', or the 'Company')
PLANNING APPROVAL FOR NOTTINGHAM DEVELOPMENT
Unite Students, the UK's leading owner, manager and developer of
student accommodation, has received resolution to grant planning
permission for its 700-bed student accommodation development at
Derby Road in Nottingham.
The direct-let development, which is located adjacent to the
University of Nottingham campus, will open in time for the 2023/24
academic year. We have been successful in securing additional beds
for the scheme through the planning process, resulting in total
development costs of GBP57 million. The scheme will deliver a
development yield in line with the Company's stated targets .
The development will target a BREEAM Excellent rating and net
zero carbon in operations through optimised design, integration of
solar panels at roof level and an all-electric heating solution,
including high efficiency air-source heat pumps. The development
will also deliver a substantial biodiversity improvement, through
opening and improving access to the River Leen.
Nick Hayes, Group Property Director, commented :
"'We are delighted to have secured planning approval for this
exciting development, which allows us to deliver high quality,
student accommodation that complements the surrounding area.
The University of Nottingham is one of the UK's leading
Universities and we are delighted to support their future growth.
The development reflects our strategy of increasing our alignment
to the strongest Universities and will help to deliver operational
efficiencies through greater scale in Nottingham."
ENDS
For further information, please contact:
Unite Students
Joe Lister / Michael Burt Tel: +44 117 302 7005
Unite press office Tel: +44 7754 749 301
Powerscourt
Justin Griffiths / Victoria Heslop Tel: +44 20 7250 1446
About Unite Students
Unite Students is the UK's largest owner, manager and developer
of purpose-built student accommodation, serving the country's
world-leading Higher Education sector. We provide homes to 76,000
students across 180 properties in 27 leading University towns and
cities. We currently partner with over 60 Universities across the
UK.
Our people are driven by a common purpose: to provide a 'Home
for Success' for the students who live with us. Unite's
accommodation is safe and secure, high quality and affordable.
Students live predominantly in ensuite study bedrooms, with rents
covering all bills, insurance, 24-hour security and high-speed
Wi-Fi. We also hold a five-star British Safety Council audit
rating.
Founded in 1991 in Bristol, Unite Group is an award-winning Real
Estate Investment Trust (REIT), listed on the London Stock Exchange
and a member of the FTSE 250 Index. Unite is invested in and
operates two specialist funds and joint ventures with institutional
investment partners: the GBP3 billion Unite UK Student
Accommodation Fund (USAF) and the GBP1 billion London Student
Accommodation Vehicle (LSAV).
For more information, visit:
Unite's corporate website www.unite-group.co.uk
The student site www.unitestudents.com
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END
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