Unite Group

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The UNITE Group plc
Type Public (LSEUTG)
Industry Student accommodation
Founded 1991
Headquarters Bristol, United Kingdom
Key people Phil White CBE, (Chairman)
Mark Allan (CEO)
Joe Lister (CFO)
Products Student accommodation (halls of residence)
Services Property investment and development
Revenue £101.6 million (2013)[1]
Operating income £70.8 million (2013)[1]
Net income £79.3 million (2013)[1]
Website www.unite-group.co.uk

The UNITE Group plc is a British student accommodation company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

The Company was founded in 1991 by Nicholas Porter, who at that time of increasing student numbers saw an opportunity to make money based on student accommodation.[2] It was first listed on the London Stock Exchange in 2000.[3]

Operations[edit]

In 2004, UNITE introduced a modular manufacturing facility in Stroud, Gloucestershire, called UNITE Modular Solutions (UMS) supplying modular accommodation suites for its own accommodation and external markets.[4]

In 2006 UNITE was announced winner of the Management Today and Unisys Service Excellence Awards in the retail and consumer services category.[5]

In March 2009, The UNITE Group plc and Connaught plc came together with a joint venture called UCS or UNITE Connaught Services to outsource planned reactive and life cycle maintenance services to UNITE's student accommodation company.[6]

In 2011 it was announced that Richard Simpson and Richard Smith had been appointed to the Group Board from 1 January 2012. Richard Simpson leads the Property business as Managing Director, Property and his remit covers Fund Management, Asset Management and Property Development across the Group. Richard Smith leads the Operations business as Managing Director, Operations and is responsible for the operating performance of the Groups 40,000 student bed spaces.

Corporate Structure[edit]

Unite appears to limit its legal liability through a web of holding companies.[7] Namely, USAF Management 8 Ltd which as of 3 October 2012 had £1 to its name; is the receiver of deposits released from deposit protection schemes to Unite.

Notably, USAF Management 6 Ltd has liabilities (debt) of over £1million, with assets of £60,000 [8] which is indicative of a common method of limiting a company's legal liability should one entity collapse.

Other such companies include but are not limited to: Usaf Gp No.7 Ltd Usaf Nominee No.7 Ltd USAF Management 6 Ltd Usaf Nominee No.6 Ltd, all under umbrella holding groups (e.g. Usaf Holdings B Limited) of which there are around 6.

This is only a few of the companies involved.

Notable properties[edit]

References[edit]

  1. ^ a b c Preliminary Results 2013
  2. ^ "Unite founder sells £3m of shares". QCK.com. 10 March 2008. Retrieved 17 March 2012. 
  3. ^ "Unite Group". London Stock Exchange. Retrieved 17 March 2012. 
  4. ^ "Stonehouse-based UNITE Modular Solutions is revolutionising the way buildings are constructed". This is Gloucestershire. 1 May 2009. Retrieved 17 March 2012. 
  5. ^ "UK Customer Experience Awards: Previous Winners". Customer Experience Awards. Retrieved 2007-11-02. [dead link]
  6. ^ "UNITE forms partnership with Connaught". Contract Journal. Retrieved 2009-06-02. 
  7. ^ "USAF MANAGEMENT 8". companiesintheuk. Retrieved 2013-07-17. 
  8. ^ "USAF MANAGEMENT 6". duedil. Retrieved 2013-07-17. 
  9. ^ "Grand Central". Emporis. Retrieved 2010-03-29. 
  10. ^ "Worlds Tallest Student Block Completes In Leeds". Skyscraper News. 2009-06-26. Retrieved 2012-03-17. 

External links[edit]