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The Unite Group (trading as Unite Students) provides purpose built student accommodation (PBSA) across the United Kingdom.
The company is listed on the London Stock Exchange as a constituent of the
The Unite Group was founded by Nicholas Porter in Bristol, England, in 1991. Aged 21 and following research with the University of the West of England, he recognised a growing demand for student accommodation. 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.
In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth. 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) is Europe's largest fund focusing solely on direct-let student accommodation. In 2006, Porter announced he was stepping down as chief executive. He was succeeded at the end of the year by
Official site
{{Authority control Real estate companies established in 1991 Companies based in Bristol Companies listed on the London Stock Exchange Student housing 1991 establishments in England Real estate investment trusts of the United Kingdom
FTSE 100 Index
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index of the 100 companies listed on the London Stock Exchange with (in principle) the highest market ...
.
History
The Unite Group was founded by Nicholas Porter in Bristol, England, in 1991. Aged 21 and following research with the University of the West of England, he recognised a growing demand for student accommodation. 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.
In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth. 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) is Europe's largest fund focusing solely on direct-let student accommodation. In 2006, Porter announced he was stepping down as chief executive. He was succeeded at the end of the year by chief financial officer
The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financ ...
Mark Allan.
Former National Express chief executive Phil White became non-executive chairman in May 2009, succeeding Geoffrey Maddrell, after ten years in the role. By 2011 the business had grown to 40,000 beds. It remains the UK's largest provider of student accommodation by capacity, but second to IQ Student Accommodation
IQ Student Accommodation is a British student housing company that owns 70 halls of residence with 30,000 bedrooms. It is owned by Blackstone, one of the world’s largest real estate investment firms.
History
In 2016, the Wellcome Trust merg ...
by value of its portfolio of property.
In 2012 it founded charitable trust The Unite Foundation
The Unite Foundation is a UK registered charitable trust founded by student accommodation provider Unite Students in 2012.
The charity provides free university accommodation and a cost-of-living scholarship to young people who have earned a ...
, which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances". 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.
Unite Group converted to a real estate investment trust with effect from 1 January 2017.
In November 2019, the Competition and Markets Authority approved the proposed acquisition by the company of its competitor, Liberty Living, for £1.4 billion. The transaction was completed in December 2019.
On 1 June 2022, it was announced that it will be promoted from the FTSE 250, and became a constituent of the FTSE 100 Index
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index of the 100 companies listed on the London Stock Exchange with (in principle) the highest market ...
effective on 20 June.
Operations
The company provides residential accommodation to around 74,000 students across 123 buildings across the UK, and is the largest and oldest PBSA provider in the country.Notable properties
* Grand Central - Liverpool * Sky Plaza - Leeds * Liberty Park -Leicester
Leicester ( ) is a city status in the United Kingdom, city, Unitary authorities of England, unitary authority and the county town of Leicestershire in the East Midlands of England. It is the largest settlement in the East Midlands.
The city l ...
References
External links
Official site
{{Authority control Real estate companies established in 1991 Companies based in Bristol Companies listed on the London Stock Exchange Student housing 1991 establishments in England Real estate investment trusts of the United Kingdom