Unite on hunt for more student sites in London

City A.M. Reporter
UNITE, the student halls specialist, yesterday said it was in exclusive talks to acquire new London sites that would add another 1,200 beds to its portfolio, helping it to hit a target of 4,000 by 2014.

Britain’s largest listed student landlord said it is on track to hit its full-year targets and its profit could beat market expectations, as it posted a five per cent rise in first-half net asset value (NAV) to 310p and reinstated its dividend.

“We’re seeing particularly strong demand for our rooms for the 2011-12 academic year, that means rental growth will be firmly in the three-to-four per cent range, possibly towards the top of the range,” chief executive Mark Allan said.

“We are firmly on track, on the profit side arguably there’s some potential to outperform,” he said.