16th May 2016 06:31
LONDON (Alliance News) - Student accommodation provider Unite Group PLC Monday said it has exchanged contracts with Portsmouth City Council to acquire a new development site which will house around 480 students when it is delivered by 2018.
Unite will acquire, subject to planning permissions, the Chaucer House site on Isambard Brunel road in Portsmouth, and the total cost of development including the purchase price is expected to be around GBP30.0 million, the company said.
Unite said the purchase will build its relationship with the University of Portsmouth. All of Unite's 2,200 beds in the city will be operated under agreements with the university this year, as the 15-year relationship between the two parties continues to grow.
By Joshua Warner; [email protected]; @JoshAlliance
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