YOUNIQ AG is further strengthening its position as a leading provider of high-quality student apartments in Germany with the acquisition of two new sites in Bayreuth and Lübeck.
From April 2012, a total of 236 student apartments are to be created in Bayreuth, and a total of 187 in Lübeck, entailing a rentable space of around 9,100 m².
The 5,800 m² (Bayreuth) and 5,200 m² (Lübeck) land plots are both located directly next to university campuses. YOUNIQ AG is investing around 28 million into the new projects.
The company anticipates that the construction and subsequent rentals will be completed by the 2013/14 winter semester. Both projects are to be recognized in profit or loss statement of the fiscal year 2011.
Rainer Nonnengässer, CEO of YOUNIQ AG, commented as follows on these new acquisitions: "We have gained two renowned and up-and-coming university locations with Bayreuth and Lübeck. Our growth strategy and focus on our core student housing business have proved correct and groundbreaking.
"We have achieved our 2011 business targets, having now completed five acquisitions since the capital increase in June. We take a positive view of the coming 2012 year, and we will continue to work further on YOUNIQ AG's expansion."
Along with high rent levels and a low number of competing student residences, the locational benefits offered by the Bayreuth and Lübeck sites include their proximity to their respective campuses, and direct access to shopping and other amenities.
The number of students in Bayreuth is also to be boosted to more than 15,000 over the coming years, compared with currently around 10,500, according to a target agreement between the federal state of Bavaria and the university. This represents an increase of more than 10% per year.
These new projects will raise the number of apartments that YOUNIQ AG manages or is currently constructing to a total of 3,264 units.
Source: YOUNIQ AG
