Planning Consent

RNS Number : 5483Y

Unite Group PLC

02 December 2014

 



Press release 2 December 2014

THE UNITE GROUP PLC

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

Unite Students secures planning approval for Aberdeen development

Unite Students, the UK's leading developer and manager of student accommodation, has received planning approval for the development of a one acre site in the centre of Aberdeen. Completion of the site is expected in time for the 2016/17 academic year and will provide a home for 399 students.

The scheme is expected to have a development cost of c. £20 million and deliver a development yield in line with Group target levels.  The site is being acquired from Aberdeen City Council and is currently occupied by a derelict, listed school building. 

Situated in the centre of Aberdeen, close to Unite's existing investment portfolio, the wholly owned development is in close proximity to the University of Aberdeen and has good transport links to Robert Gordon University. 

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

"We are very pleased to have received planning consent for this site as our development pipeline continues to progress well. This is our fifth site in Aberdeen, where we already provide a home for over 1,300 students.

"Causewayend will provide a safe and secure home for students and will help to strengthen our relationships with University of Aberdeen and Robert Gordon University and meet the accommodation demands of Aberdeen's growing student population, whilst contributing to the regeneration of the area."

For further information, please contact:

Unite Students

Rebecca Murch, Corporate Communication 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 130 purpose built properties across 23 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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