Unite Group PLC - Quarterly Valuation Update
THE UNITE GROUP PLC
('Unite Students', 'Unite', the 'Group', or the 'Company')
QUARTERLY VALUATION UPDATE FOR THE UNITE
Unite Students, the
LSAV's investment portfolio was independently valued at
The Q4 valuations reflect the removal of the temporary reduction in stamp duty for residential properties, which is due to come to an end on
Overall the USAF portfolio is valued at an average yield of 5.3% and the LSAV portfolio is valued at an average yield of 4.4%, both unchanged over the quarter.
Across the Group's entire property portfolio, 57% of rooms are now sold for the next academic year (64% at the same time last year). We expect strong student demand for 2021/22 from both domestic and international students, but anticipate a later sales cycle than a typical year as a result of current uncertainty relating to Covid-19. As a result, we have increased our focus on retaining existing direct-let customers, which has led to an increased share of sales to re-bookers.
"The USAF and LSAV portfolios have both delivered a robust performance in 2020, despite the challenging environment resulting from Covid-19. Bookings for the 2021/22 academic year have started positively with 57% of rooms already sold and success in retaining existing customers. We continue to see strong demand for places at the high-quality Universities with which we partner."
For further information, please contact:
Unite press office Tel: +44 7754 749 301
About Unite Students
Unite Students is the
Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Unite's accommodation is safe and secure, high quality and affordable. Students live predominantly in ensuite study bedrooms, with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi. We also hold a five-star British Safety Council audit rating.
Founded in 1991 in
For more information, visit:
Unite's corporate website www.unite-group.co.uk
The student site www.unitestudents.com
Quick facts: Unite Group
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