11th Jan 2016 08:07
LONDON (Alliance News) - Student accommodation developer and manager The Unite Group PLC on Monday said the valuations on its UK Student Accommodation Fund and London Student Accommodation Joint Venture both increased in the fourth quarter and for the full year.
FTSE 250-listed Unite said the USAF property portfolio was valued at GBP2.07 billion at the end of December, up 2.3% on a like-for-like basis in the fourth quarter to the end of December and up 14% for the full year.
The LSAV portfolio, meanwhile, was valued at GBP738.0 million, up 2.5% on a like-for-like basis in the fourth quarter and up 17% for the full year.
The growth in the valuations was driven by rental growth and yield compression in both portfolios, the company said.
"USAF and LSAV have performed well during 2015 with property valuation growth of 14% and 17% respectively. Returns have been delivered through levels of high occupancy, rental growth and have been enhanced by yield compression," said Unite Students Chief Financial Officer Joe Lister.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Unite