Unite gets a boost as student numbers rise

 
Marion Dakers
STUDENT property company Unite has filled 90 per cent of its rooms for the new academic year as a rising number of university enrolments coupled with a housing shortage boost its earnings.

Unite expects total student numbers to be 30,000 higher than in 2013-14, which the company said should translate to three per cent rental growth.

For the six months to the end of June, Unite posted a 3.1 per cent in adjusted net asset value and pledged to raise its dividend from 1p to 1.6p per share.

“The demand/supply dynamics of our sector remain supportive, our competitive position and brand are strong and we have capital available to invest selectively in attractive opportunities,” said chief executive Mark Allan in a statement.