Singapore Press Holdings Adds Thousands of Beds to Its Portfolio
18th Apr 2019
Unite Students has released its latest quarterly valuation update for the Unite UK Student Accommodation Fund (USAF) and the London Student Accommodation Joint Venture (LSAV).
As of 31st March 2019, USAF's property portfolio was valued at £2,266 million, representing a like-for-like increase of 0.5% during the quarter.
The portfolio consists of 23,483 beds split across 63 properties in 21 University towns and cities in the UK.
Meanwhile, the LSAV portfolio was valued at £1,262 million, representing an increase of 1.5% in the quarter. The portfolio comprises of 8,354 beds across 12 properties in London, as well as the Aston Student Village in Birmingham.
The company attributed the increase in valuations to rental growth across the portfolio, which is in line with the first quarter of 2018 and supports Unite's outlook of 3.0-3.5% growth for the whole of 2019.
The USAF and LSAV portfolios have been valued at an average yield of 5.3% and 4.5% respectively.
Unite has also said that reservations for the 2019-20 academic year are at 79%, versus 77% at the same time last year.
Commenting on the results, Joe Lister, Unite Students Chief Financial Officer, said: "Unite Students has delivered another strong performance in the first quarter of 2019. Reservations for the 2019/20 academic year are in line with last year's run rate and support a positive rental growth outlook."
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