Unite advances Bristol scheme and university partnership talks

Unite Group has received resolution to grant planning permission for its 416-bed student accommodation scheme in Bristol city centre. Unite said it was in advanced talks with the University of Bristol for a long-term nomination agreement on the scheme. The development, known as Old BRI, will also incorporate the conversion of a former Georgian hospital building into 62 rented residential homes. It will generate a yield of around 6%. The rented residential portion of the scheme includes 20% affordable units. Unite will deliver the residential portion of the scheme with the option of retaining or disposing of the homes on completion. Unite said the scheme formed part of a wider university partnership discussion with the university, covering around 3,000 beds. The partnership will include a large proportion of Unite’s existing operational assets in the city following targeted investments and the company’s 650-bed development in close proximity to the university’s new Temple Quarter campus. “Bristol is one of the UK’s leading university cities and continues to see strong growth in student numbers,” said Unite Students chief executive Richard Smith. “Old BRI creates new supply in a city centre location where there is an acute shortage of high-quality affordable student accommodation.” Simon Bray, director of campus operations at the University of Bristol, added that the university has had a relationship with Unite for accommodation in the city for more than 20 years. “Our priority is the needs of our students, ensuring they all have access to accommodation which provides them with real value for money. “We believe the new arrangements with Unite will help provide this surety.”   To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette