With 98% full occupancy, Unite is running out of student beds

Before the commencement of the academic year, the student accommodation provider Unite Students have run out of student beds. As per multiple sources, the reservation rate for Unite this year is at a record high, which has led to the full occupancy of the student accommodation. 

Unite is providing beds to approximately 70,000 students across 157 properties. As per CEO Richard Smith, “The supply of purpose-built student accommodation cannot keep pace with growing student demand at the same time as HMO landlords are leaving the sector.”

Unite Students is one of the leading student housing companies that provides accommodation to students in around 23 cities in the UK. Unite has seen growth in its main portfolio’s value, up by 1.2% to £2.9 billion; however, its London joint venture in itself has seen a growth of 1.1% which comes across £1.9 billion. 

This is a matter of concern for students who were depending on Unite to reserve their spots. The new academic session is yet to start, amidst which this student housing news has raised a major issue for many students and their families. 

Furthermore, as per Unite’s CEO, Richard Smith, “Unite is uniquely positioned to address this housing need through our best-in-class operating platform, university relationships development and asset management capabilities.”

This situation is considered a sign and opportunity for growth for this student housing company as this will further result in the rental growth of the company leading to an increase in the quarterly fund valuations. 

Unite has a strong presence in London, covering 23 leading university towns and cities by providing high-quality and affordable student housing options to students. Unite is working day in and out to raise its standard across the student housing sector and is on a new mission to achieve net-zero carbon operations and developments by 2030. 

Amber has tied up with Unite to make the search for student housing easy and flexible. With these years of bond, amber is making sure that students are getting rooms as per their needs and preferences.