Property Acquisition

Unite Group PLC
5 February 2002

Date:          05 February 2002

Embargoed:     0700hrs

                       UNITE ACQUIRES £44M ACCOMMODATION

              CREATING OVER 1,000 NEW STUDENT AND KEY WORKER BEDS

                             IN THREE NEW LOCATIONS

In line with its stated ambition of achieving 60,000 secured beds by the end of
2003, The UNITE Group plc, the UK's leading specialist provider of student and
key worker accommodation, today announces three new accommodation schemes with
an aggregate completion value in excess of £44 million. The schemes, in
Southampton, Nottingham and Stoke-on-Trent, will create more than 1,076 new beds
for students and NHS key workers and are prime examples of the Government's
proposals for urban regeneration allowing the redevelopment of redundant sites
in central areas for high-density residential use.

Southampton

Orions Point, Southampton, currently comprises three office buildings adjoining
the Royal South Hants Hospital, immediately to the north of Southampton
Institute and close to the city centre leisure and nightlife area. UNITE has
acquired this large property complex from Lattice Property Holdings and subject
to planning, will convert two out of the three blocks into 414 rooms. It is
planned that the rooms will accommodate second and third year students as well
as NHS key workers. Work is anticipated to start on the property in mid 2002
with occupation scheduled for September 2003.

Nottingham

UNITE will provide a 301 bed new build student accommodation facility at St.
Peters Street, situated close to the University of Nottingham Jubilee campus,
completion is due for the Autumn term of 2003.

Stoke-on-Trent

The student residential scheme in Stoke-on-Trent will be targeted to students at
Staffordshire University. The accommodation is to be built close to the
University and will offer affordable 345 en-suite study rooms. The scheme is
expected to be completed in time for the 2002 student in-take.

Each scheme has been designed to meet UNITE's brand of high quality, affordable
accommodation and will offer fully fitted kitchens, on-site laundry, bike store
and state of the art security. They will be managed by UNITE's specialist
accommodation services operation, delivering a comprehensive property management
and customer service that includes a 24-hour help-line, with welfare and
pastoral support.

Nicholas Porter, Chief Executive of The UNITE Group plc, said:

'These schemes demonstrate both our continued geographical expansion into new
locations across the UK and our success in developing long term partnerships to
provide residential accommodation solutions for both students and NHS Trust
health service staff.'

                                     -ENDS-

Press Enquiries to:

Nicholas Porter, Chief Executive, UNITE                     Tel: [phone]

Emma Kane/Scott Convoy                                     Tel: [phone]

Redleaf Communications Ltd                                 Mob: [phone]

Regional Student Market

  • Total Full Time Students - Southampton = 24,210
  • Total Full Time Students - Nottingham = 31,580
  • Total Full Time Students - Stoke-on-Trent (University of Staffordshire) =
    11,740

Source of Data:


  • Higher Education Statistical Association (published 2001)



Notes to Editors:


  • UNITE was founded in 1991 by Nicholas Porter

  • UNITE is fully listed on the London Stock Exchange

  • UNITE is the UK's leading specialist provider of accommodation services
    for students and key workers.

  • Further information is available at the Company's website at
    www.unite-group.co.uk

  • In December, UNITE announced new accommodation schemes worth £51m on
    completion


                      This information is provided by RNS
            The company news service from the London Stock Exchange