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Unite sees valuation, reservation increases as lockdowns ease
StockMarketWire.com
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Student accommodation provider Unite said the value of its two property funds had increased over the March quarter.
The Unite UK Student Accommodation Fund was independently valued at 31 March at £2.76 billion, reflecting a 0.5% increase on a like-for-like basis during the quarter.
The London Student Accommodation Joint Venture portfolio was independently valued at £1.34 billion, reflecting a 1.3% increase on a like-for-like basis.
Unite had seen a 'strong' sales performance for 2021/22 reservations since its preliminary results on 16 March, reflecting increased confidence from UK and international students as lockdowns ease.
It added that 73% of rooms were now reserved for the 2021/22 academic year across its entire portfolio, with the deficit in sales to prior year continuing to narrow over recent weeks.
'Our positive sales momentum reflects strong demand for the 2021/22 academic year and increasing confidence over a return to face-to-face teaching,' chief financial officer Joe Lister said.
'Based on our expectation of an enhanced campus experience for students and a relaxation of international travel restrictions, we anticipate a return to full occupancy and 2-3% rental growth in 2021/22.'
Story provided by StockMarketWire.com
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