Unite has raised a c. €348.5m to fund two large development schemes. Earlier this year Unite bought a site in London Stratford, known as Jubilee House, for its next major project. It has full planning consent for a 36-storey tower providing 716 beds for students at a total development cost of €223m.
The development in Farthingale Walk will be built by RG Group and also incorporate 6,000m2 of academic space.
Unite is also advancing two schemes in Bristol totalling over 1200 rooms with a combined development cost of c. €191.6m. These are the Temple Quarter and Freestone Island projects, due to be completed for the 2025 and 2026 academic years respectively.
Also in the pipeline but for completion in 2027, Unite has plans for c. €174.2m London Paddington scheme of nearly 600 beds at a former Travis Perkins builders’ merchant site and in East London c. €232.3m project of 950 beds known as Meridian Square.
Richard Smith, chief executive officer of Unite, said: “The successful completion of this fundraising is further evidence of the strong investor support for Unite, our future prospects and the structurally attractive supply and demand dynamics of the student accommodation sector.”
