SECURE 6,092 BEDS IN 9 CITIES
Unite Group PLC
8 May 2002
Date: 8 May 2002
On behalf of: The UNITE Group plc ('UNITE')
UNITE INCREASES LONDON BED NUMBERS BY 75% AND SECURES 6,092 BEDS ACROSS NINE
CITIES
The UNITE Group plc, the student and key worker accommodation provider, today
announces that it has secured a further 6,092 student and key worker beds across
the UK. The properties, in London, Liverpool, Glasgow, Birmingham,
Huddersfield, Southampton and for the first time in Leicester, Cardiff and
Preston, have a completion value of £265 million including commercial elements.
On completion of these schemes, UNITE will be operational in 30 towns and
cities, of which nine will comprise over 1,000 beds.
Nicholas Porter, Chief Executive Officer of UNITE, commented:
'We are delighted to have expanded the choice of high quality, affordable
accommodation for students and key workers. These new developments are all in
prime areas and are helping us to build critical mass and deliver economies of
scale. With two new locations and further presence in London we remain on track
to deliver our stated objectives.'
The 6,092 new beds are being created in the following nine towns and cities:
London
• 1,158 new student and key worker beds, bringing UNITE's total
secured beds in London to 2,711
• 75% increase in bed numbers since March 2002 when UNITE took
full control of the Peabody UNITE joint venture in London which
comprised 1,553 secured beds
• Five new properties in Fulham, Elephant and Castle, South
Tottenham, Colliers Wood and Stockwell
• Occupation from 2003
Liverpool
• 1,382 beds acquired, subject to planning
• Brings total number of UNITE beds in Liverpool to 2,354
• UNITE now operates beds for 8% of university students in Liverpool
• Phased occupation from September 2003
Glasgow
• 656 new student beds
• Second UNITE development in Glasgow
• Brings total number of UNITE beds in Glasgow to 1,062
• Occupation from September 2003
Leicester
• 803 new student beds, subject to planning
• Two schemes are UNITE's first in Leicester
• Occupation from September 2003
Southampton
• 653 student rooms, subject to planning
• UNITE's second in Southampton
• Brings total number of beds in Southampton to 1,067
• Occupation from September 2004
Cardiff
• Two sites comprising 641 beds, subject to planning
• First developments for UNITE in Cardiff
• Occupation from September 2003
Preston
• 424 student rooms
• First development for UNITE in Preston
• Occupation from September 2002
Birmingham
• 175 student and NHS worker beds
• Redevelopment of redundant office building
• Occupation from September 2002
Huddersfield
• 200 new student beds
• Second UNITE scheme in Huddersfield
• Brings total UNITE beds in Huddersfield to 627
• Occupation from September 2002
All properties reflect UNITE's commitment to high quality and affordability and
several schemes will be developed at UNITE's modular manufacturing facility in
Gloucestershire, where completed bedroom and bathroom modules are prefabricated
under factory conditions. These are then combined with traditional construction
process on site to create accommodation that provides guaranteed quality
control, improved speed of construction and cost efficiencies.
Ends
Press Enquiries to:
Nicholas Porter, CEO Tel: 020 7902 5054
The UNITE Group plc
Emma Kane/Scott Convoy Tel: 020 7955 1410
Redleaf Communications Mob: 07876 338339
Notes to Editors:
• The UNITE Group plc (UTG) is listed on the London Stock Exchange
• Further information on UNITE is available at the Company's website
at www.unite-group.co.uk
• Photographs are available - please call 020 7955 1410
• Full time university student numbers: Source: HESA
- Liverpool 31,070
- Glasgow 43,980
- Birmingham 34,980
- Huddersfield 10,430
- Preston 13,730
- Leicester 26,100
- Southampton 24,210
- Cardiff 23,200
- London 179,920
This information is provided by RNS
The company news service from the London Stock Exchange
IDIIF