8th Jul 2015 06:55
LONDON (Alliance News) - Unite Group PLC on Wednesday said its property portfolio valuation rose in the second quarter on a like-for-like basis in both the Unite UK Student Accommodation Fund and the London Student Accommodation Joint Venture.
The FTSE 250-listed student accommodation provider said the USAF portfolio was valued at GBP1.98 billion at the end of June, a 4% rise on a like-for-like basis in the quarter and an 8.5% rise in the six months to the end of the first half. The portfolio now has 26,813 beds across 24 university towns and cities in the UK, Unite said.
The LSAV portfolio is now valued at GBP612 million, up 5.6% on a like-for-like basis in the quarter and up 12.5% since the start of the year.
Unite said its letting performance across the portfolios has remained robust, with reservations in place across 86% of its rooms at the end of June, up from 80% a year earlier. This underpins the group's guidance for 3% to 4% rental growth for the full year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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