Unite Students

The Unite Group (trading as Unite Students) is a British developer, owner and operator of purpose built student accommodation (PBSA). The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.[3]

History

The Unite Group was founded by Nicholas Porter in Bristol, England, in 1991.[4] Aged 21 and following research with the University of the West of England, he recognised a growing demand for student accommodation.[5] After a period of expansion within Bristol, in 1998 Unite opened its first properties in London. It listed on the Alternative Investment Market the following year.[6]

In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.[7] During the following decade, Unite created investment vehicles to secure growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF[8]) is Europe's largest fund focusing solely on direct-let student accommodation.[9] In 2006, Porter announced he was stepping down as chief executive. He was succeeded at the end of the year by chief financial officer Mark Allan.[10]

By 2011 the business had grown to 40,000 beds. It remains the UK's largest provider of student accommodation by capacity,[11] but second to IQ Student Accommodation by value of its portfolio of property.[12]

In 2012 it founded charitable trust The Unite Foundation, which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances".[13] In April 2014 Unite renamed itself "Unite Students". Simultaneously, it launched its "Home for Success" corporate philosophy; which it describes as its "business purpose". The Home for Success announcement included a £40m reinvestment of profits into the business and 16 "signature commitments", all of which relate to an improved student experience.[14]

Unite Group converted to a real estate investment trust with effect from 1 January 2017.[15]

In November 2019, the Competition and Markets Authority approved the proposed acquisition by the company of its competitor, Liberty Living, for £1.4 billion.[16] The transaction was completed in December 2019.[17]

In August 2025, it was announced that Unite Group would buy Empiric Student Property in a deal worth £634 million, covering 68 buildings in 22 cities with accommodation for 7,700 students.[18]

In 2026, following a drop in international students coming to the UK, Unite Group lowered its profit outlook and announced it would reduce future student housing builds. It also announced the sale of a 571-bed St Pancras Way property in London to Unite UK Student Accommodation Fund (a joint venture between Unite and Singapore's sovereign wealth fund). It also stated that it would be concentrating on accommodation in cities with high-tariff universities.[19]

Operations

As of 2024, the company provides residential accommodation to around 68,000 students across 152 buildings across the UK,[20] and is the largest and oldest PBSA provider in the country.[21]

In addition to owning a portfolio of its own properties, Unite operates properties on behalf of two investment funds that it part owns:[22]

• UK Student Accommodation Fund (USAF), which has a portfolio of 61 properties, owned by a consortium of investors (29% Unite).
• London Student Accommodation (LSAV), which has a portfolio of 14 properties, owned 50:50 by Unite and GIC (Singapore's sovereign wealth fund).

Notable properties

External links

• Official site