Unite Group PLC New University Partnership (2105P)
October 09 2019 - 2:00AM
UK Regulatory
TIDMUTG
RNS Number : 2105P
Unite Group PLC
09 October 2019
PRESS RELEASE
9 October 2019
THE UNITE GROUP PLC
("Unite Students", "Unite", the "Group", or the "Company")
NEW UNIVERSITY PARTNERSHIP WITH UNIVERSITY OF LEEDS
The Unite Group plc, one of the UK's leading owners, developers
and managers of student accommodation, announces that it has agreed
commercial terms with the University of Leeds for a 30-year
nominations agreement for its White Rose View development in
Leeds.
The agreement covers 559 of the 976 beds in the development,
which will open in time for the 2020/21 academic year. Unite has
worked in partnership with the University of Leeds to support the
scheme through planning and developing its design. The agreement
underpins a development yield in line with the Company's stated
targets.
White Rose View is located in Leeds city centre, near to the
University of Leeds and Leeds Beckett University. The agreement
extends Unite's existing relationship with the University of Leeds,
helping to meet the accommodation needs of its 38,000 students.
Richard Smith, Chief Executive of Unite Students, commented:
"The University of Leeds is a highly valued partner of Unite
with our relationship dating back more than 15 years. This latest
partnership agreement supports our focus on the quality and
security of our income, by aligning with mid and high-tariff
Universities where there is strong demand for affordable,
high-quality student accommodation. We continue to target one to
two new University Partnership deals per year."
ENDS
For further information, please contact:
Unite Students
Richard Smith / Joe Lister / Paul Richmond Tel: +44 117 302
7005
Powerscourt
Justin Griffiths / Victoria Heslop Tel: +44 20 7250 1446
About Unite Students
Unite Students is one of the UK's largest owners, managers and
developers of purpose-built student accommodation serving the
country's world-leading higher education sector. We currently
provide homes for over 50,000 students in circa 130 properties
across 22 leading university towns and cities in England and
Scotland. Unite also has a strong development pipeline, which will
deliver around 5,000 beds in the next three years.
Our 1,400 people are driven by a common purpose: to provide the
students who live with us a 'Home for Success' and to be the most
trusted brand in the sector. We do this through quality service,
quality people and quality properties, all designed on the basis of
an excellent insight into students' needs and preferences.
Unite's accommodation is high quality, safe and secure, and
located where students want to live. Students live predominantly in
en-suite study bedrooms with rents covering all bills, insurance,
24-hour security, fortnightly cleaning services and high-speed
Wi-Fi. MyUnite, our mobile app, provides practical support such as
instant messaging and maintenance requests.
Our commitment to customer service is powered by an innovative,
in-house operating platform. It provides a wide range of benefits
to our students, such as an optimised online booking process, as
well as providing us with a unique ability to drive value from our
portfolio through scale efficiencies and revenue management.
Alongside delivering quality service, our other strategic
priority is delivering growing and sustainable earnings,
underpinned by a strong capital structure. A key part of this
strategy is growing the number of beds let through partnerships
with mid and high tariff universities which are experiencing record
levels of student demand. We currently partner with 60 higher
education institutions, guaranteeing that approximately 60% of our
rooms are let under 'nomination agreements' providing high
visibility of forward occupancy and rental growth.
Unite is invested in and operates two specialist funds and joint
ventures with institutional investment partners: the GBP2 billion
Unite UK Student Accommodation Fund (USAF), and the GBP1 billion
London Student Accommodation Vehicle (LSAV).
Unite is the founder of and major donor to the Unite Foundation,
a charitable trust established to support talented students facing
challenging financial circumstances through the provision of free
accommodation annual scholarships. The Foundation has so far
provided scholarships for 250 young people working in close
collaboration with 29 partner universities.
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.
For more information, please visit Unite's corporate website
www.unite-group.co.uk, the student site www.unite-students.com or
the Unite Foundation www.unitefoundation.co.uk
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END
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