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  5. Unite acquires 270 bed site in Nottingham

Pin to quick picksUnite Share News (UTG)

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Share Price Information for Unite (UTG)

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Share Price: 976.50
Bid: 976.50
Ask: 977.50
Change: -2.00 (-0.20%)
Spread: 1.00 (0.102%)
Open: 980.50
High: 983.50
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Unite acquires 270 bed site in Nottingham

Mon, 24th Jan 2022 07:47

(Sharecast News) - Student accommodation developer Unite said it had bought a 270-bed development site in Nottingham's city centre.



Total development costs for the scheme, which would open for the 2024/25 academic year, were estimated to be £34 million, the company said.

Unite said the direct-let development was expected to deliver a yield on cost of 7%, reflecting lower risks for a project with planning approval already secured.

The company already owns and manages around 1,900 student accommodation beds in Nottingham with a further 970 beds to be added in the city across the new city centre site and the company's 700-bed consented development at Derby Road, due for delivery in 2023.



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