UNITE Group buys Bristol development sites
Student accommodation provider UNITE Group has acquired two development sites in the centre of Bristol with potential for about 900 student beds.
Total development costs, including the cost of the land, will be about £85m. The sites are subject to necessary approvals, including planning consents.
The Bristol-headquartered company expects them to provide returns in line with its target for regional development and to be delivered in 2019.
UNITE said the sites were well located to house students from both of the Universities in the city and would enable it to further strengthen relationships with two long term partners.
Richard Simpson, managing director of property for Unite Students, said: “We are delighted to have acquired two high quality sites in Bristol. We look forward to developing these sites and adding more high quality student accommodation to our existing estate in a strategically important city.
The UNITE Group currently houses 45,000 students in 132 purpose built properties across 28 locations …