Record Occupancy Levels
Unite Group PLC
14 October 2002
Date: 14 October 2002
On behalf of: The UNITE Group plc ('UNITE')
Embargoed until: 0700hrs
UNITE ANNOUNCES RECORD OCCUPANCY LEVELS
The UNITE Group plc, the UK's leading specialist provider of student and key
worker accommodation, today announces record occupancy levels. The 2002/3
academic term has started with occupancy of 98.1% of all available student rooms
compared with the same time last year of 94.8%, which is in line with our
forecast for the academic year.
Following completion of this year's build programme, UNITE now has over 14,000
completed bed spaces in 30 towns and cities across the UK, with a further 11,000
secured for development. Take up of rooms this year has been particularly
strong in UNITE's city centre properties such as Liverpool, Manchester,
Aberdeen, Bristol and London.
The Company's unsecured pipeline remains strong and the Group is on track to
secure a further 8,500 beds next year to meet the growing demand for
purpose-built student accommodation. This increasing demand is reflected in
record numbers of students applying to universities and colleges coupled with a
growing shortage of quality, affordable accommodation.
Nicholas Porter, Chief Executive Officer of UNITE, said:
'UNITE is committed to destroying the perception that affordable accommodation
has to be poor quality and to stamping out the need for many students to start
their academic life in the unacceptable conditions offered by many private
landlords.
'Against this background, we are delighted to report record occupancy levels
which are ahead of target and well up on figures for this time last year. The
UNITE brand is becoming widely recognised as the accommodation of choice and is
particularly strong in those target towns where we have critical mass, which is
a key element of our roll-out strategy.'
- ends -
Enquiries to:
The UNITE Group plc
Nicholas Porter, Chief Executive Officer Tel: 020 7902 5055
Emma Kane Tel: 020 7955 1410
Redleaf Communications Mob: 07876 338339
• Publication photographs are available for download at www.redleafpr.com
• Further information on The UNITE Group plc is available at:
www.unite-group.com
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