Unite pleased with 2008/09 reservations
Student accommodation specialist Unite Group is pleased with progress in 2008, with room reservations for the forthcoming academic year at 77% so far, up 9% on a year ago.
"Unite has continued to make good progress in delivering its strategy against a backdrop of challenging market conditions," said chairman Geoffrey Maddrell.
"The reservations performance, in particular, underlines the continued strong demand for student accommodation and further demonstrates the sector's economic resilience," added the group.
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Capital raising for the UNITE UK Student Accommodation Fund is on track to hit its target of £125m of new equity, it said. The firm already has applications for capital commitments of £77m from existing investors.
Meanwhile, a number of proposed sales to form part of a £100m disposal programme are now said to be at an advanced stage.
