Member Article

Student accommodation provider expect Olympic boost

Bristol based, student accommodation provider, UNITE Group plc has said it expects an Olympic income boost of up to £1.75m.

Publishing its interim management statement, the organisation is in the final stages of preparation to manage 3,600 of our rooms for LOCOG for an eight-week period up to and including the Olympic Games.

The statement also shows positive peformance, with 72% of rooms let for the 2012/2013 academic year, compared to 59% at the beginning of March 2012, and 73% at the same point in 2011.

As the company undertakes development schemes, 1,822 new beds have been brought to the market for 2012/13 academic year, and a further 1,514 beds are to be delivered in 2014.

Mark Allan, Chief Executive of The UNITE Group, said: “Building on our strong operational performance in 2011 we have continued to make good progress against our strategic objectives in 2012.

UNITE Group has now completed the sale of £18m non-core assets from its own balance sheet, with a further £35m proceeding through due diligence.

This was posted in Bdaily's Members' News section by Tom Keighley .