Unite on track to hit targets as reservation rates rise

(Sharecast News) - Student accommodation group Unite said it is on track to hit full-year guidance with reservations for the 2026/27 academic year in line with expectations. The company, which has 208 properties across 29 university towns and cities in the UK, said that 79% of beds are now reserved for the upcoming academic year, more or less in line with this time last year (80%), with direct-let sales ahead of last year due to targeted pricing initiatives in some markets. As of 31 March, the reservation rate was 74%.

Sales progress for 2026/27 remains in line with the guidance, albeit at the lower end of 93-96% occupancy and 2-3% rental growth.

Meanwhile, bookings for the Hello Student portfolio, which was acquired through the Empiric acquisition which completed in January, are progress in line with expectations, with 47% of rooms now reserved for 2026/27. Unite continues to expect Hello Student to achieve occupancy of around 85% for the academic year.

"Sales and trading performance through the first four months of the year have been in-line with our expectations and supports our guidance for adjusted EPS of 41.5-43.0p in FY2026," the firm said.

Commenting at the company's AGM on Friday, chief executive Joe Lister said: "We are increasing our disposal plans and working with advisors to explore options to further accelerate our transition to a more focused, higher-quality portfolio.

"This will release surplus capital for reinvestment into share buybacks or University Partnerships consistent with our capital allocation framework."

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