Unite announces new project with Oxford Brookes

Student accommodation developer Unite Students has exchanged contracts on a development site in Oxford and agreed commercial terms with Oxford Brookes University for a 25-year nominations agreement covering the site, which will extend its partnership with Unite to 1,350 beds.

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Planning consent for the development has been granted subsequent to exchange.

The new development is expected to provide 885 new beds and will be delivered for the 2019/20 academic year with total development costs expected to be around £75m. Anticipated returns are in line with Unite's stated targets for University Partnerships.

Chief executive officer Richard Smith said: "This acquisition represents another exciting step in Unite's strategy of building long term partnerships with high quality universities. It also shows our ability to continue adding to our market-leading portfolio of buildings in locations where there is a shortage of affordable high quality student accommodation and we can exploit our service platform to drive operating efficiencies."