Unite sells in Bristol at 55 basis points below June valuation
Student accommodation developer and manager Unite has exchanged contracts to sell and lease back Unite House in Bristol to the M&G Secured Property Fund for £21.5m.
It has agreed the sale at a yield of 6.07% – which equates to a 55 basis point improvement on its June valuation of 6.62%.
Unite will take a 25-year lease and will continue to operate the 395 student bed property – providing M&G with £1.38m annual rent …