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Unite Group updates on USAF, LSAV quarterly valuations

10 April 2017 07:14

The Unite Group said that, at March 31, Unite UK Student Accommodation Fund's property portfolio was independently valued at £2.08bn, representing a rise of 0.5% during the quarter.

The USAF portfolio comprised 24,176 beds in 68 properties across 23 University towns and cities in the UK.

It added that the London Student Accommodation Joint Venture investment portfolio was independently valued at £1.08bn (after the acquisition of Aston Student Village and recent portfolio disposal), up 0.6% in the quarter on a like for like basis.

LSAV's investment portfolio comprised 8477 beds across 13 properties in London and Aston Student Village in Birmingham.

"The increase in valuations is driven by rental growth with yields remaining stable in the quarter. The overall USAF portfolio is valued at an average yield of 5.6% and LSAV's portfolio at 5.0%," said The Unite Group.

Reservations for the 2017/18 academic year were at record levels with 77% of the rooms booked (74% at the same point last year), at prices that support our full year rental growth outlook of 3.0-3.5%.

"The strong reservations performance reflects our continued focus of working alongside the UK's strongest Universities."

Story provided by StockMarketWire.com

Related Company: UTG

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