Student accommodation group disposes of six properties for £184m

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Student accommodation provider, The Unite Group, is disposing of six of its UK properties, for a combined total of £184m.

It said some of the proceeds would be used to to acquire new investment opportunities.

The Bristol-based group is selling sites in Birmingham, Cardiff, Leicester, Liverpool, Nottingham and Sheffield to the global PGIM Real Estate business.

The Nottingham site is the 808-bed St Peter’s Court, which is close to the University of Nottingham’s Jubilee Campus.

Unite will receive £76m from the overall proceeds, with the rest attributable to Unite Students Accommodation Fund (USAF).

The properties comprise 2,948 beds and have an average age of 18 years (Unite average: 13 years).

Thirty one per cent of beds are let on short-term nomination agreements (Unite: 53%, 5.8 years average

 link source - The Business Desk

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