IN BRIEF: Unite Group exchange contracts for Stratford development
Unite Group PLC - Bristol, England-based student accommodation provider - Agrees to sell the academy school at Hawthorne House in Stratford for GBP40.7 million. Under the deal, Unite will retain ownership of the 719-bed student accommodation element of the newly completed Hawthorne House. While Unite says contracts have been exchanged, it does not name the buyer. The sale is priced at a 4.9% yield, the company says. The development is fully let for the 2026/27 academic year, with a long-term nomination to University of the Arts London for more than half the beds. Chief Executive Officer Joe Lister says: "The sale of the academy school at Hawthorne House is evidence of our capital discipline and proactive capital recycling programme. We are moving at pace to further increase our alignment to the UK's strongest universities and remain on track to deliver GBP300 million to GBP400 million of disposals this year." Read More