Unite Students – Trading Update and Q3 Fund Valuations
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces an update on current trading. We also provide quarterly property valuations for the Unite UK Student Accommodation Fund (‘USAF’) and the London Student Accommodation Joint Venture (‘LSAV’) as at 30 September 2021.
Richard Smith, Chief Executive of Unite Students, commented:
“We have seen record demand for UK universities from UK school leavers and non-EU students, particularly for the strongest universities to which we are strategically aligned, although higher grade attainment and restrictions around international travel as a result of the pandemic have impacted occupancy in a small number of cities. There remains a strong outlook for student demand driven by demographic growth, rising participation rates and increasing demand from non-EU markets. This underpins our confidence in a rapid recovery in earnings and total returns, driven by sustainable rental growth, our substantial development pipeline and further opportunities to deploy capital.” …