Jump to content

Unite Students

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 2a02:c7f:1811:ec00:c148:ecbc:7ced:c6b7 (talk) at 11:13, 25 July 2020 (→Operations). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Unite Group Plc
Company typePublic
LSE: UTG
IndustryStudent accommodation#Off campus residences
Founded1991
FounderNicholas Porter
Headquarters
Bristol
,
United Kingdom
Key people
Phil White CBE, (Chairman)
Richard Smith (CEO)
Joe Lister (CFO)
ProductsStudent accommodation (halls of residence)
ServicesProperty investment and development
Revenue£156.2 million (2019)[1]
£(170.9) million (2019)[1]
£(87.6) million (2019)[1]
Number of employees
1,400 (2019)[2]
Websitewww.unite-group.co.uk

Unite Students provides purpose built student accommodation (PBSA) across the United Kingdom. Unite Students is the trading name for The Unite Group Plc, a London Stock Exchange listed Real estate investment trust and a constituent of the FTSE 250 Index.

History

A Unite Students facility near Tottenham Hale station

The Unite Group was founded by Nicholas Porter in Bristol in 1991.[3] Aged 21 and following research with the University of the West of England, he recognised a growing demand for student accommodation.[4] 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.[5]

In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.[6] 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[7]) is Europe's largest fund focusing solely on direct-let student accommodation.[8] 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.[9]

Former National Express chief executive Phil White became non-executive chairman in May 2009, succeeding Geoffrey Maddrell, after ten years in the role.[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 December 2019, Unite Students completed its acquisition of competing student housing provider Liberty Living.[16] The deal, worth £1.4 billion, was approved by the Competition and Markets Authority the previous month.[17]

Operations

The company provides residential accommodation to around 50,000 students in circa 140 buildings across the UK,[18] and is the largest and oldest PBSA provider in the country.[19]

Notable properties

References

  1. ^ a b c "Annual Results 2019" (PDF). Unite Students. Retrieved 5 March 2020.
  2. ^ "About us". Unite Students. Retrieved 20 March 2019.
  3. ^ "Bristol Post Business Awards: Unite Students take top award". South West Business. 6 July 2016. Retrieved 28 April 2017.
  4. ^ "Nicholas Porter - The Sunday Times". thesundaytimes.co.uk. Retrieved 3 April 2015.
  5. ^ "This week: PNC Tele.com, Unite Group, Axiomlab". This is Money. Retrieved 3 April 2015.
  6. ^ "Our story so far". Unite Students. Retrieved 3 April 2015.
  7. ^ "UNITE UK Student Accommodation Fund". www.aref.org.uk. Retrieved 29 March 2020.
  8. ^ "Bedell". bedellgroup.com. Retrieved 3 April 2015.
  9. ^ "Student digs chief steps down with honours". Property Week. Retrieved 3 April 2015.
  10. ^ "Unite Group taps Phil White as new chairman". propertyeu.info. Retrieved 3 April 2015.
  11. ^ "Unite Students set for 399-bed Aberdeen development". Property Week. Retrieved 3 April 2015.
  12. ^ Curry, Rhiannon (18 February 2018). "RBS director to chair UK's largest student digs company". The Daily Telegraph. Retrieved 10 September 2018 – via www.telegraph.co.uk.
  13. ^ "About Us". unitefoundation.co.uk. Retrieved 3 April 2015.
  14. ^ "Home for Success". unite-group.co.uk. Retrieved 3 April 2015.
  15. ^ "Notice of General Meeting for REIT Conversion and Trading Update". unite-group.co.uk. Retrieved 6 November 2017.
  16. ^ Beech, Adam (29 November 2019). "Unite Group Completes Liberty Living Acquisition". Insider Media. Retrieved 15 April 2020.{{cite web}}: CS1 maint: url-status (link)
  17. ^ Clark, Jessica (6 November 2019). "Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living". City A.M. Retrieved 15 April 2020.{{cite web}}: CS1 maint: url-status (link)
  18. ^ "Unite lights touchpaper in the search for fire security innovation". BFM Magazine. 28 April 2017.
  19. ^ "Unite snaps up Cordea Savills' £137m student housing portfolio". Financial Times. Retrieved 3 April 2015.
  20. ^ "Grand Central". Emporis. Retrieved 29 March 2010.
  21. ^ "Worlds Tallest Student Block Completes In Leeds". Skyscraper News. 26 June 2009. Retrieved 17 March 2012.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Unite_Students&oldid=969430760"