UNITE – Trading update and Q1 fund valuations
Strong demand and rental growth underpinning property values
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 31 March 2024.
Highlights
- Continued strong demand with 86% of beds sold for the 2024/25 academic year (2023/24: 90%)
- Confident in delivering rental growth of at least 6% for the 2024/25 academic year
- Planning approvals for 1,450 new beds in London and Bristol
- Property values stable in Q1 (USAF: (0.5%), LSAV 0.8%) with rental growth offsetting the loss of Multiple Dwellings Relief …