Planning Consent for Central Coventry Development

RNS Number : 4868I

Unite Group PLC

26 March 2015

 

Press release 26 March 2015

THE UNITE GROUP PLC

("Unite Students", "Unite", the "Group", or the "Company")

UNITE SECURES PLANNING APPROVAL FOR CENTRAL COVENTRY DEVELOPMENT ‎

The Unite Group plc, the UK's leading developer and manager of student accommodation, has received planning approval by officers under a delegated decision for a 2.1 acre site in central Coventry. The new building will provide a 'Home for Success' for 286 students and completion is anticipated in time for the 2016/17 academic year.

The property will have a total development cost of £17 million and is expected to deliver returns in line with Unite's targets for regional development.

The site, acquired from Complex Development Projects (CDP) in partnership with the Council, is located on Far Gosford Street adjacent to an existing Unite property, and once complete will form part of a 1,000 strong student complex close to the University.

Coventry University continues to perform strongly, rising 19 places in The Times and Sunday Times Good University Guide 2015 to be ranked no. 42, and is home to over 24,000 students.

Richard Simpson, Managing Director of Property for Unite, commented:

"We are delighted to have received planning consent in Coventry, as we continue to progress our regional development pipeline.

Achieving planning through delegated decision reflects the confidence Coventry has in Unite and will enable us to continue supporting the University by providing a safe, secure home for the city's growing student population." 

Note to Editors

For interviews with Richard Simpson, Managing Director of Property or Jagdeep Bhogal, Design and Planning Director at Unite Students please contact:

Unite Students

Rebecca Murch, Corporate Communications Manager                        Tel: [phone]

Bell Pottinger

Victoria Geoghegan / Nick Lambert / Elizabeth Snow                             Tel: [phone]

About Unite Students

Unite Students is the UK's leading manager and developer of student accommodation. We provide a home for over 43,000 students in 125 purpose built properties across 25 of the UK's strongest university towns and cities. We have over 1,000 employees and work in partnership with over 50 higher education providers, as well as renting rooms directly to students.

Our culturally-diverse customers are at the heart of our business and we aim to provide a home for students that supports their success, whether defined as academic achievement, personal growth or employability. Our properties provide high quality, well-located, safe accommodation that is close to university campuses, transport and local amenities. Our rent includes a study bedroom, all bills, insurance, 24-hour security and high speed Wi-Fi throughout our buildings.

Founded in 1991, Unite Group is a FTSE 250 company listed on the London Stock Exchange. We are pursuing a sustainable growth strategy designed to make the most of the resilient nature of the student accommodation sector. We aim to maintain the strongest brand in the sector and operate the highest quality portfolio through consistent investment in and improvement to our operating platform, highly selective development activity, asset management initiatives and portfolio recycling.

In addition to our wholly owned properties, we are also invested in and operate a small number of specialist funds and joint ventures with institutional investment partners, the largest of which is the £1.5 billion Unite UK Student Accommodation Fund (USAF).

The Group's charitable trust, the Unite Foundation, supports widening access to higher education, integrating students into the community and employability. It provides scholarships for disadvantaged students at seven universities and volunteering opportunities for our students and employees through partner organisations.

For more information visit our corporate website: www.unite-group.co.uk or www.unite-students.com.

 

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