Unite Group PLC (The)
30 September 2026
PRESS RELEASE
30 September 2026
THE UNITE GROUP PLC
('Unite Group', 'Unite', the 'Group', or the 'Company')
£60M SALE OF DEVELOPMENT SITE
Unite Group, the UK's leading owner, manager and developer of student accommodation, today announces the sale of its 444-bed King's Place development site to an affiliate of Far East Orchard for £60 million.
The disposal is part of the Group's strategy to realise value from development land and other non-student assets. The sale is priced at a 3% discount to its June 2026 book value and is expected to complete in mid-October.
The Group has now agreed or completed disposals in 2026 totalling £200 million at a weighted average NOI yield of 3.0% (Unite share), including a number of non-income producing sites.
The Group has a number of further disposal processes underway to support our strategy of increasing alignment to the UK's strongest universities. As a result, we remain on track to deliver £300-400 million (Unite share) of disposals in 2026.
The disposal was incorporated into the Group's adjusted earnings guidance of 41.5-43.0p for FY2026, which remains unchanged.
Joe Lister, Unite Group Chief Executive Officer, commented:
"The sale of King's Place is evidence of our capital discipline and proactive capital recycling programme. It successfully realises value from a development project which no longer meets our return requirements and reflects our focus on delivering the best outcomes for shareholders. We are moving at pace to further increase our alignment to the strongest universities and remain on track to deliver £300-400 million of disposals this year."
ENDS
For further information, please contact:
Unite Group
Joe Lister / Mike Burt / Saxon Ridley Tel: +44 117 302 7005
Press office Tel: +44 117 450 6300
Kekst CNC
Tom Climie Tel: +44 7760 160 248
About Unite Group
Unite Group is the UK's largest owner, manager and developer of purpose-built student accommodation (PBSA) serving the country's world-leading higher education sector. Its property portfolio includes the Unite Students and Hello Student brands. We provide homes to 72,000 students across 207 properties in 29 leading university towns and cities. We currently partner with over 60 universities across the UK.
Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Our accommodation is safe and secure, high quality and affordable. Students live predominantly in en-suite study bedrooms with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi.
We are committed to raising standards in the student accommodation sector for our customers, investors and employees. Our Sustainability Strategy includes a commitment to become net zero carbon across our operations and developments by 2030.
Founded in 1991 in Bristol, the Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange. For more information, visit www.unitegroup.com, www.unitestudents.com or www.hellostudent.co.uk.
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