Unite Group PLC Acquisition (9861V)
November 09 2017 - 1:00AM
UK Regulatory
TIDMUTG
RNS Number : 9861V
Unite Group PLC
09 November 2017
09 November 2017
THE UNITE GROUP PLC
("Unite Students", "Unite", the "Group", or the "Company")
UNITE STUDENTS ACCOMMODATION FUND (USAF) ACQUIRES 437-BED
PROPERTY IN SHEFFIELD
Unite Students, the UK's leading manager and developer of
student accommodation, announces that Unite Students Accommodation
Fund (USAF) has acquired Brass Founders in Sheffield for GBP35.5
million (Unite share GBP8.4 million).
Brass Founders is located on Scotland Street, a few minutes'
walk from both the University of Sheffield and Sheffield city
centre. The 437 beds are fully let for the 2017/18 academic
year.
The acquisition supports Unite's strategy of aligning alongside
high quality Universities in the UK. The University of Sheffield is
ranked 13(th) in the UK in the 2018 Times Higher Education rankings
and was awarded a silver Teaching Excellence Framework (TEF)
rating.
Richard Simpson, Group Property Director at Unite Students
said:
"This acquisition demonstrate our strategy of building and
acquiring quality student property close to high-ranking
universities, where student numbers are growing. We have strong
existing relationships with universities in Sheffield and we are
confident that Brass Founders will provide students with a quality,
affordable home in a great location."
-ENDS-
For further information, please contact:
Unite Students
Joe Lister, Chief Financial Officer Tel: +44 117 302 7005
Candice Macdonald, Head of Communications Tel: +44 7525 592521
Notes to editors:
About Unite Students
Unite Students is the UK's largest and most established manager
and developer of purpose-built student accommodation. It provides a
home for around 50,000 students, in more than 140 properties,
across 28 leading university cities in England and Scotland. Unite
works in partnership with more than 60 Higher Education
institutions and also lets rooms directly to students.
Unite's purpose is to provide a home to its culturally diverse
customers, offering them a strong foundation for academic and
personal success. The accommodation is high quality, safe and close
to university campuses, transport links and local amenities.
Students live in ensuite study bedrooms with rents covering all
bills, insurance, 24-hour security, fortnightly cleaning of
communal kitchens and bathrooms and high-speed Wi-Fi.
Founded in 1991 in Bristol, the Unite Group plc is a FTSE250
company, listed on the London Stock Exchange, employing more than
1,250 people. It pursues a sustainable growth strategy, designed to
make the most of the resilient nature of the student accommodation
sector. Unite is focused on maintaining its position as the leading
provider of student accommodation in the UK, by having the best
brand, operating the highest quality portfolio and maintaining the
strongest capital structure in the sector. This is achieved with
consistent investment in, and improvement to, the operating
platform; highly selective development activity and asset
management initiatives.
Unite is invested in and operates a 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 and major donor of the Unite Foundation.
The Foundation provides 160 young people in the UK who lack family
support with free student accommodation and financial support.
For more information, you can 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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