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Unite Group rental growth tracking in line with 3.0%-to-3.5% target
StockMarketWire.com
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Student accommodation provider Unite Group said full year rental growth from its portfolio was tracking in line its its 3.0%-to-3.5% target.
The company also said it was 98% let across its portfolio for the 2018/19 academic year.
The separate valuations of its UK and London portfolios had risen 1.1% and 1.6% in the third quarter, respectively.
Unite also announced that it had priced a £275m senior unsecured bond with a term of 10 years.
The bond would bear interest at a rate of 3.5% per annum.
'It's great to see the momentum we achieved at the half year continuing,' chief executive Richard Smith said.
'The supportive market dynamics are underpinned by a portfolio focused on universities where demand is strongest and our growing university partnerships.'
'We have delivered on our efficiency targets in 2018.'
'Going forward, we expect to deliver further efficiency gains, primarily through growing the scale of the portfolio under management.'
Story provided by StockMarketWire.com
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