Unite Group plc (LON: UTG), one of the UK’s leading owners, developers and managers of student accommodation, announced today that it has agreed commercial terms with the University of Leeds for a 30-year nominations agreement for its White Rose View development in Leeds.
The agreement covers 559 of the 976 beds in the development, which will open in time for the 2020/21 academic year. Unite has worked in partnership with the University of Leeds to support the scheme through planning and developing its design. The agreement underpins a development yield in line with the Company’s stated targets.
White Rose View is located in Leeds city centre, near to the University of Leeds and Leeds Beckett University. The agreement extends Unite’s existing relationship with the University of Leeds, helping to meet the accommodation needs of its 38,000 students.
Richard Smith, Chief Executive of Unite Students, commented:
“The University of Leeds is a highly valued partner of Unite with our relationship dating back more than 15 years. This latest partnership agreement supports our focus on the quality and security of our income, by aligning with mid and high-tariff Universities where there is strong demand for affordable, high-quality student accommodation. We continue to target one to two new University Partnership deals per year.”