Disposal of six properties for £184m
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces the sale of six properties to PGIM Real Estate for £184 million (Unite Students share: £76 million).
The properties, comprising 2,948 beds, are located in Birmingham, Cardiff, Leicester, Liverpool, Nottingham and Sheffield and have an average age of 18 years (Unite Students average: 13 years). 31% of beds are let on short-term nomination agreements (Unite Students: 53%, 5.8 years average remaining term).
The disposal is part of the Group’s portfolio management strategy to increase alignment to high and mid-ranked universities which have the strongest outlook for student demand and support sustainable rental growth …