Unite Students offloads £212m portfolio 

The PBSA provider has sold nine properties totalling 3,656 beds to Lone Star Funds, including Clarence Dock Village and The Tannery in Leeds, and The Anvil in Sheffield.

It has also sold three assets in Leicester, one in Nottingham, and both of its Aberdeen accommodations.

Unite said that the disposal is part of its strategy to focus on high-ranking universities with strong rental growth prospects, with proceeds being recycled back into investments.

This includes the recently approved £274m Castle Leazes student accommodation in Newcastle.

Unite’s share of the sale is expected to be around £140m.

Joe Lister, chief executive of Unite, said: “These disposals increase the alignment of our portfolio to the strongest university cities and continues our disciplined approach to recycling capital.

“Purpose-built student accommodation continues to attract institutional capital as the growing UK 18-year-old population and improving trends in international recruitment underpin demand for high-quality student accommodation.”