Unite Group Reports Strong H1 Performance Amid Strategic Portfolio Restructuring
Unite Group (LON:UTG), a UK-based student accommodation provider, reported first-half performance in line with expectations. The company is focusing on reshaping its portfolio by concentrating around stronger universities and accelerating asset sales to fund development projects, partnerships, and share buybacks. High-tariff university applications have grown 7%, the fastest rate in over a decade, supporting strong occupancy rates of 95%–97%. Unite plans to reduce its current 72,000-bed portfolio across two brands down to 55,000–60,000 beds by disposing of 15,000–20,000 beds over the next year or two. The company has already sold £130 million in assets and is marketing an additional £500 million across 12 sales processes. It reiterated its target for £300 million to £400 million of disposals this year but emphasized it would not sell at any price, prioritizing returns over quick deals. Unite's occupancy rates are rising due to disciplined pricing and improved marketing strategies, with direct-let bookings up significantly compared to last year. The Hello Student brand, acquired in January 2026 through the Empiric acquisition, is performing well, achieving an 88%–90% expected occupancy rate. A Mandarin-speaking international sales team has contributed nearly £22 million in six months of operations.
Topics: asset sales portfolio strategy real estate student housing