Unite Group sales exceed pre-pandemic levels in Q2 2022
Unite Group shares were up 1.4% to 1,122p in early morning trading on Friday following a confirmation of high demand in sales over Q2 2022, with 90% of student rooms sold for the 2022 to 2023 academic year, exceeding pre-pandemic levels of 89%.
The student accommodation firm reported positive pricing progress, particularly as the impact of Omicron eased, with progress driven by inflation-linked rental uplifts for its multi-year nomination agreements and strong demand for direct-let beds.
Unite commented it expected to deliver occupancy rates of 97% for the next academic year and hit rental growth at the top end of its guidance at 3% to 3.5% …