Student accomodation developer Unite has sold off £181m of properties including its last remaining sites in Plymouth and Huddersfield as it shifts focus towards “high and mid-ranked” universities, mostly in major cities.
The FTSE 250 company has agreed to sell 14 properties with 3,436 bedrooms to Asian media giant Singapore Press Holdings, which has been looking to expanding its overseas property investments.
Unite, which builds and manages private student halls, will receive around £85m of the proceeds. The rest will flow into the Unite Student Accommodation Fund, an investment vehicle it set up, and the London Student Accommodation Joint Venture, a partnership with the Singaporean government.
