Unite Group acquires prime Coventry site

Unite Group has bought a development site in the centre of Coventry that will provide a home for around 370 students and is scheduled to open in time for the 2017/18 academic year.

The student accommodation manager said the total development cost, including the cost of the land, is expected to be approximately £24m.

It added that the delivery of the scheme will continue to drive group earnings visibility and net asset value growth.

The site is close to the campus of Coventry University, which is home to over 25,000 students, with UCAS acceptances up 14% this year.

Richard Simson, managing director of property for Unite Students, said: “We are delighted to have acquired a further site in Coventry for delivery in 2017.

“Coventry University has continued to perform strongly, driving high levels of demand for good quality, well located purpose built student accommodation."