Unite disposes of 14 properties

Student accommodation developer Unite Students has disposed of 14 properties, raising money for new investments.

The firm has agreed to sell the properties to Singapore Press Holdings, with completion due later this month.

Under the agreement, 3,436 beds will be transferred for a total value of £180.5m, of which Unite's share is £84.7m. The portfolio is a combination of properties from Unite’s UK Student Accommodation Fund and its London Student Accommodation Joint Venture with the Government of Singapore Investment Corporation Real Estate.

“The transaction provides the investment capacity for our highly accretive development pipeline and target acquisitions that enhance our portfolio and support our earnings growth,” said Unite Students chief executive, Richard Smith.