UNITE – TRADING UPDATE AND Q2 FUND VALUATIONS
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces an update on current trading and quarterly property valuations for the Unite UK Student Accommodation Fund (‘USAF’) and the London Student Accommodation Joint Venture (‘LSAV’) as at 30 June 2023.
Richard Smith, Unite Students Chief Executive Officer, commented:
“Reservations for the 2023/24 academic year remain at record levels, with 98% of rooms now sold, reflecting strong demand from both students and universities and the attractiveness of our fixed-priced all-inclusive offer. This supports an improvement in our rental growth guidance to around 7% for the 2023/24 academic year. Our strong leasing performance will continue to support our property valuations as the market adjusts to an environment of higher interest rates …
The supply of purpose-built student accommodation cannot keep pace with growing student demand at the same time as HMO landlords are leaving the sector. Unite is uniquely positioned to address this housing need through our best-in-class operating platform, university relationships development and asset management capabilities.”