|
Unite Group PLC on Tuesday said it expects to benefit from a pick-up in UK university admission numbers, amid a jump in student visa applications in the first five months of the year. The Bristol, England-based student accommodation provider hailed ‘continuing momentum’, as it anticipates an increase in admissions for the upcoming academic year. Unite Group reiterated 2025 guidance of adjusted EPRA earnings per share between 47.5 pence and 48.25p. For 2024, the firm had reported 46.6p in adjusted EPS, and 44.0p in EPRA EPS. Unite updated on current trading and quarterly property valuations for the Unite UK Student Accommodation Fund and the London Student Accommodation Joint Venture. The JV is operated alongside GIC, the Singaporean sovereign wealth fund. The USAF property portfolio was independently valued at £2.94 billion at the end of June, a 0.6% like-for-like increase over the quarter. The LSAV portfolio was valued at £2.09 billion, a 0.7% rise on a like-for-like basis over the quarter. Unite highlighted that more restrictive policy in the UK’s main competitor markets were making the UK a more attractive destination. Further, the company does not expect the immigration white paper published by the UK government in May to have a material impact on student demand, especially for high-tariff universities. The outlook for student demand was ‘strong’, it added, noting a 2% rise in applications from UK 18-year-olds, while student visa applications were up 29% on-year over the first five months of 2025. The white paper ‘emphasised the significant contribution made by international students to the UK economy and research in the higher education sector, while introducing measures to raise standards for student visas,’ Unite said. ‘Student numbers are expected to increase for the 2025/26 academic year due to a growing UK 18-year-old population and improving trends in international student recruitment. Sales momentum has picked up in recent weeks, in-line with our expectations for a later sales cycle, and we continue to target occupancy of at least 97%,’ Unite Students Chief Executive Officer Joe Lister said. He added: ‘Demand for our accommodation remains underpinned by our alignment to the UK’s strongest universities and nomination agreements with our university partners.’ The company said 85% of beds have been sold for 2025/26. Unite shares fell 0.9% to 811.00 pence each on Tuesday morning in London, giving it a market capitalisation of £3.97 billion. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
