Unite has exchanged contracts to acquire a 620-bed student scheme on Derby Road in Nottingham.
The £48m scheme is pending planning consent and Unite expects it will be open in time for the 2022/23 academic year.
The acquisition will increase Unite’s presence in the city, which is home to two large universities, the University of Nottingham and Nottingham Trent University.
Nick Hayes, Unite’s group property director, said: “This latest acquisition reflects our strategy of aligning our business with mid and high-tariff universities in cities where there is strong demand for affordable, high-quality student accommodation.”
Unite has around 130 properties in 22 cities. It has a development pipeline of 6,000 beds and a target to deliver 2,000 beds a year over the next three years.
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