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Unite gets planning approval for £57m student housing development in Nottingham

StockMarketWire.com

Student accommodation provider Unite said it had received planning approval for a 700-bed development at Derby Road in Nottingham, estimated to cost £57 million to develop.

The direct-let development, located adjacent to the University of Nottingham campus, would open in time for the 2023/24 academic year.

Unit said the scheme would deliver a development yield in line with the company's stated targets.

'The University of Nottingham is one of the UK's leading universities and we are delighted to support their future growth,' property director Nick Hayes said.

'The development reflects our strategy of increasing our alignment to the strongest universities and will help to deliver operational efficiencies through greater scale in Nottingham.'



Story provided by StockMarketWire.com