Increasing number of 18-year-olds puts student developer on track to hit expected grades
Student housing group Unite is “on track” to achieve its targets in what is expected to be a busier year for university applications.
A growing population of 18-year-olds and “improving trends” in international student underpin Unite’s confidence despite a shift towards later bookings.
Joe Lister, Unite Students chief executive, said: “Reservations have accelerated in recent weeks, in line with our expectations for a later leasing cycle, and are underpinned by nomination agreements from our university partners.
“We remain on track to deliver rental growth of 4-5% and occupancy of 97-98% for the 2025/26 academic year.”
Bristol-based Unite started out converting outdated office blocks in the city into student flats in the 1990s. Today it provides homes to 68,000 students in 23 towns and cities, making it the UK’s largest owner, manager, and developer of purpose-built student accommodation.
It has sold 75% of its beds for the next academic year, compared with 84% at the same point last year.
The group is continuing to plan for further growth. It said it is in “the advanced stages” of agreeing a new joint venture with Manchester Metropolitan University to develop 2,300 beds in Manchester city centre for delivery in 2029 and 2030.
It is already on site at a 934-bed development in Glasgow, which is scheduled to be finished for 2027/28, and a planning application for its Newcastle University joint venture is expected to go to committee next month.
However Unite’s planned 605-bed development at TP Paddington has now been called in by the Mayor of London, following rejection by the local planning committee in February.
