Unite acquires major Liverpool student site
STUDENT accommodation provider Unite said it has acquired a major development site in central Liverpool.
It did not disclose the vendor or the location in a stock market announcement, but said the scheme, together with one in Aberdeen, would add around 1,250 beds.
Both projects should be finished for the 2017-18 academic year, and have a combined development cost of £80m.
Unite’s managing director of property Richard Simpson said: “We are delighted to have secured two more excellent sites in strong regional locations in line with our development strategy. The new schemes will enhance our presence in two of our best performing markets and provide much needed accommodation capacity for the growing student populations.
“The acquisition of these sites means that we have now secured approximately 60% of our target 2017 pipeline, providing greater visibility of our future earnings growth.”