Unite Students buys Edinburgh property for £24m
Unite Group
857.00p
15:45 15/11/24
0.71%
6.00p
Student accommodation provider Unite said it had bought a 331 bed property in Edinburgh for £24m, representing an acquisition yield of 6%.
FTSE 250
20,508.75
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
Real Estate Investment Trusts
2,144.53
15:44 15/11/24
0.62%
13.29
The site, located close to the University of Edinburgh's campus on Prince's Street, is 100% let for the 2017/2018 academic year, Unite said.
"The transaction supports Unite's strategy of aligning its property portfolio with high-ranking universities in the UK where student numbers are growing, and creating further earnings growth and visibility," bit said in a statement, adding that the acquisition increased its total number of beds in Edinburgh to 1,680.