£41m Sale of Academy School
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PRESS RELEASE
23 October 2026
THE UNITE GROUP PLC
(‘Unite Group’, ‘Unite’, the ‘Group’, or the ‘Company')
£41M SALE OF ACADEMY SCHOOL
Unite Group, the UK’s leading owner, manager and developer of student accommodation, today announces it has exchanged contracts for the sale of the academy school at Hawthorne House for £40.7 million.
The academy school is part of the Group’s newly completed Hawthorne House development in London, and the Group retains ownership of the 719-bed student accommodation element of the site. Hawthorne House is fully let for the 2026/27 academic year with a long-term nomination agreement to the University of the Arts London for over half the beds. The disposal is in line with our business plan for the development and is part of the Group’s disposal strategy, which includes the release of value from non-PBSA assets. The sale is priced at a 4.9% yield, representing a 2% discount to its June 2026 book value and is expected to complete shortly.
The academy school was included in the £225 million of assets under offer in the Group’s Q3 trading update. Proceeds from the sale will initially be applied to reducing leverage.
Joe Lister, Unite Group Chief Executive Officer, commented:
“The sale of the academy school at Hawthorne House is evidence of our capital discipline and proactive capital recycling programme. We are moving at pace to further increase our alignment to the UK’s strongest universities and remain on track to deliver £300-400 million of disposals this year.”
ENDS
For further information, please contact:
Unite Group
Joe Lister / Mike Burt / Saxon Ridley Tel: +44 117 302 7005
Press office Tel: +44 117 450 6300
Kekst CNC
Tom Climie Tel: +44 7760 160 248
Lucy Besser Tel: +44 7779 873 440
About Unite Group
Unite Group is the UK's largest owner, manager and developer of purpose-built student accommodation (PBSA) serving the country's world-leading higher education sector. Its property portfolio includes the Unite Students and Hello Student brands. We provide homes to 72,000 students across 207 properties in 29 leading university towns and cities. We currently partner with over 60 universities across the UK.
Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Our accommodation is safe and secure, high quality and affordable. Students live predominantly in en-suite study bedrooms with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi.
We are committed to raising standards in the student accommodation sector for our customers, investors and employees. Our Sustainability Strategy includes a commitment to become net zero carbon across our operations and developments by 2030.
Founded in 1991 in Bristol, the Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange. For more information, visit www.unitegroup.com, www.unitestudents.com or www.hellostudent.co.uk.
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