Unite Group acquires student accommodation competitor to accelerate growth

Unite Group plc has completed the acquisition of Liberty Living Group plc from Liberty Living Holdings Inc.

Richard Smith, Unite’s chief executive officer, said: “I am delighted that we have completed the transformational acquisition of Liberty Living, reinforcing our position as a leading provider of purpose-built student accommodation in the UK.

“This deal brings together two complementary businesses who share a commitment to providing high quality, affordable student accommodation with a focus on service and welfare and a strategic alignment to universities where student demand is strongest.”

Unite has revealed that, with effect from completion, Thomas Jackson, nominated by CPPIB, has been appointed as a non-executive director of the company.

Richard added: “The deal will accelerate our earnings, driving meaningful accretion from 2020 onwards.

“It also gives us enhanced scale which, combined with our best-in-class operating platform, means we are well-placed to meet the substantial market opportunity from the 1.5 million students requiring accommodation each year.”