Planning Approval for Nottingham DevelopmentSource: RNS
22 March 2021
THE UNITE GROUP PLC
('Unite Students', 'Unite', the 'Group', or the 'Company')
PLANNING APPROVAL FOR NOTTINGHAM DEVELOPMENT
Unite Students, the UK's leading owner, manager and developer of student accommodation, has received resolution to grant planning permission for its 700-bed student accommodation development at Derby Road in Nottingham.
The direct-let development, which is located adjacent to the University of Nottingham campus, will open in time for the 2023/24 academic year. We have been successful in securing additional beds for the scheme through the planning process, resulting in total development costs of £57 million. The scheme will deliver a development yield in line with the Company's stated targets.
The development will target a BREEAM Excellent rating and net zero carbon in operations through optimised design, integration of solar panels at roof level and an all-electric heating solution, including high efficiency air-source heat pumps. The development will also deliver a substantial biodiversity improvement, through opening and improving access to the River Leen.
Nick Hayes, Group Property Director, commented:
"'We are delighted to have secured planning approval for this exciting development, which allows us to deliver high quality, student accommodation that complements the surrounding area.
The University of Nottingham is one of the UK's leading Universities and we are delighted to support their future growth. The development reflects our strategy of increasing our alignment to the strongest Universities and will help to deliver operational efficiencies through greater scale in Nottingham."
For further information, please contact:
Joe Lister / Michael Burt Tel: +44 117 302 7005
Unite press office Tel: +44 7754 749 301
Justin Griffiths / Victoria Heslop Tel: +44 20 7250 1446
About Unite Students
Unite Students is the UK's largest owner, manager and developer of purpose-built student accommodation, serving the country's world-leading Higher Education sector. We provide homes to 76,000 students across 180 properties in 27 leading University towns and cities. We currently partner with over 60 Universities across the UK.
Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Unite's accommodation is safe and secure, high quality and affordable. Students live predominantly in ensuite study bedrooms, with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi. We also hold a five-star British Safety Council audit rating.
Founded in 1991 in Bristol, Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange and a member of the FTSE 250 Index. Unite is invested in and operates two specialist funds and joint ventures with institutional investment partners: the £3 billion Unite UK Student Accommodation Fund (USAF) and the £1 billion London Student Accommodation Vehicle (LSAV).
For more information, visit:
Unite's corporate website www.unite-group.co.uk
The student site www.unitestudents.com