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Pin to quick picksUnite Share News (UTG)

Share Price Information for Unite (UTG)

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Share Price: 969.50
Bid: 969.00
Ask: 970.00
Change: 4.50 (0.47%)
Spread: 1.00 (0.103%)
Open: 983.00
High: 983.00
Low: 963.00
Prev. Close: 965.00
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Unite Group In Partnership Talks; Gets Permission To Convert Building

Thu, 23rd Jan 2020 08:16

(Alliance News) - Unite Group PLC on Thursday said it has secured planning approval for its 416-bed student accommodation development in Bristol city centre.

The manager and developer of student accommodation said it plans to convert the former Georgian hospital building into 62 rented residential homes. The conversion is expected to be delivered for the start of the 2021/22 academic year.

Unite Group also said it is in advanced discussions with the University of Bristol for a long-term nomination agreement on the scheme, which forms part of a wider university partnership discussion, covering around 3,000 beds.

"We are delighted to be working towards an exciting partnership with the University of Bristol, which strengthens our long-standing and valuable relationship," said Unite Students Chief Executive Richard Smith.

"Our priority is the needs of our students, ensuring they all have access to accommodation which provides them with real value for money. We believe the new arrangements with Unite will help provide this surety," added Simon Bray, director of Campus Operations at University of Bristol.

Unite Group shares were trading 0.5% lower in London on Thursday morning at 1,295.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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19 Feb 2024 08:28

IN BRIEF: Unite Group inks Newcastle University redevelopment deal

Unite Group PLC - Bristol-based student accommodation provider - Enters into joint venture with Newcastle University for the development of 2,000 new student beds for delivery in 2027 and 2028. Unite says it will close the existing accommodation at the Castle Leazes site on the university grounds, commencing demolition in the summer of 2024 before beginning the redevelopment programme. Total development costs will come to around GBP250 million, Unite says, of which the company's share will be GBP128 million. Unite's equity commitment is expected to be around GBP70 million for a 51% stake in the joint venture. Entry into the joint venture is subject to planning approval, for which Unite says it plans to apply by the end of the first quarter of 2024.

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