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Unite Group Makes a £24 Million Move in Coventry

Posted by Ross Jones-Morris in

Last week it was announced that Goldman Sachs and The Wellcome Trust were joining forces to form Vero Group, a move that made the newly formed £2 billion venture the closest competitor yet to market leader Unite Group.

But in the face of newly strengthened competition Unite have stretched their asset lead even further. Yesterday it was announced that they have bought a new student accommodation site in Coventry, with plans for 370 new student beds for the 2017/18 academic year.

The site is extremely close to Coventry University's campus, in a move that they say will help meet the rising demand for student accommodation in the area. Last week a report said that student properties in the city had increased by 25% landlords in 2015 as private landlords picked up most of the slack.

The development is pencilled in to cost £24 million.

Image courtesy of Flickr, Creative Commons