Unite Students launched their annual report this morning and it makes positive reading. They are the UK’s largest owner, manager and developer of purpose-built student accommodation (PBSA).
Annual rents increased by 8.2% on a like-for-like basis for 2024/25 academic year, which was above their initial expectations. The company also saw strong growth across both its direct-let and nominated beds.
Unite Students’ property portfolio saw a 4.9% increase in valuations on a like-for-like basis during the year, as strong rental growth more than offset the loss of Multiple Dwellings Relief (MDR) and increases in property yields.
Operational highlights
- Opened their lowest embodied carbon new build, Bromley Place.
- Record customer satisfaction score of +50.
- Record higher education trust score of +37.
- Invested £32m refurbishing 11 properties.
- Launch of a new student app and website.
- Awarded Investors in People gold.
Joe Lister, Chief Executive, Unite Students
“A huge thank you to our colleagues for their contributions, hard work, and passion as we continue to deliver a Home for Success through our three strategic priorities of great place to live, work, and invest. Without you, none of this would be possible.”
Outlook for 2025/26
Unite Students continues to see strong demand from students and universities for its well located, value-for-money student accommodation.
The business observed a normalisation in leasing trends over the course of 2024, which they expect to continue for the 2025/26 sales cycle with more bookings made later in the cycle.
They have seen strong demand from universities for the coming year, as they look to secure accommodation to meet student demand, resulting in nomination agreements 57% of beds for 2025/26.
These agreements deepen relationships with universities and underpin occupancy each year, providing income security at rental levels comparable with direct-let sales.
“The business performed strongly in 2024 and demonstrated resilience in a challenging market. We continue to deliver growth in our earnings over the year and our record development pipeline supports this into the medium term.”
Joe Lister, Chief Executive, Unite Students
