Unite Students, the owner, manager and developer of student accommodation, has sold a portfolio of nine properties, comprising 3,656 beds for £212 million, to an affiliate of Lone Star Funds.
The disposal portfolio includes assets in Aberdeen, Leicester, Leeds, Nottingham and Sheffield. It includes The Tannery and Clarence Dock Village in Leeds and The Anvil in Sheffield.
The disposal is part of the group’s strategy to increase alignment to high and mid-ranked universities and those properties with the strongest prospects for sustainable long-term rental growth.
Contracts have been exchanged with completion due in August 2025.
Since 2022, the group has now sold 12,000 beds, recycling over £700 million into its strongest markets and new investment opportunities.
Joe Lister, Unite Students chief executive, said: “These disposals increase the alignment of our portfolio to the strongest university cities and continues our disciplined approach to recycling capital.
“Purpose-built student accommodation continues to attract institutional capital as the growing UK 18-year-old population and improving trends in international recruitment underpin demand for high-quality student accommodation.”
