Share Prices & Company Research

Market News

30 Mar 2021 | 07:55

Unite Students sells 8 properties for £133m

(Sharecast News) - Accommodation provider Unite Students said it had sold eight properties to Aventicum Real Estate for £133m.

The company on Tuesday said the portfolio comprised 2,284 beds and its disposal was part of the group's management strategy which would see it exit "a number of subscale markets, while improving alignment to high and mid-ranked universities".

The disposals are priced at a net operating income yield of 6.5% and a 2% discount to prevailing book value.

Chief executive Richard Smith said the sale was part of Unite's plan to dispose of £200m - £300m of assets in 2021.

"The sale is consistent with our strategy of increasing our exposure to high and mid-ranked Universities where demand is strongest, while delivering operational efficiencies that contribute towards our target for an improvement in our EBIT margin to 74% by the end of 2023," he added.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.