Student lodging agency Unite Group sees report demand for beds

Unite Group stated it has skilled a robust begin to 2024 12 months with continued demand for scholar beds.

The UK-based proprietor, supervisor and developer of scholar lodging stated it had already offered a report 71 per cent of its beds for the 2024/25 educational 12 months, up barely from 70 per cent the earlier 12 months.

The London-listed agency additionally stated it was assured in delivering rental development of not less than 5 per cent within the 2024/25 interval. 

The London-listed agency stated it was assured in delivering rental development of not less than 5 per cent within the 2024/25 educational 12 months

Unite owns and operates 70,000 scholar beds in cities and cities throughout the UK. 

Joe Lister, chief government officer of Unite Students, stated: ‘We have seen a robust begin to the 2024/25 gross sales cycle, reflecting the continued attraction of our fixed-priced, all-inclusive provide. 

‘The letting efficiency highlights the continued energy of demand from college students and universities and underpins a constructive outlook for rental development for the 2024/25 educational 12 months.’

In a press release, the group stated: ‘We have been inspired by significantly robust demand from college companions with 4,000 further beds reserved in comparison with the identical stage of the 2023/24 gross sales cycle.

‘We are conscious of value of dwelling pressures for college students and oldsters and stay focussed on providing value-for-money lodging, whereas additionally delivering sustainable rental development to mitigate margin strain from rising employees and utility prices and to assist vital ongoing funding into our properties.’

The group additionally revealed it was transferring ahead with 4 growth schemes in London, Bristol, Edinburgh and Nottingham, totalling 2,000 beds, for supply between 2024 and 2026. 

It has benefited from a development in the direction of non-public landlords offloading their properties resulting from greater mortgage prices.  

Lister added: ‘We will proceed to play a number one function in growing the provision of a lot wanted scholar lodging at a time when HMO landlords are leaving the market at tempo and the brand new provide of purpose-built scholar lodging slows. 

‘We are dedicated to working intently with our college companions to make sure college students have entry to top quality, reasonably priced lodging.’

Unite Group shares had been down 0.67 per cent to 1,039p in late afternoon buying and selling on Tuesday.