THE UNITE GROUP PLC
("Unite Students", "Unite", the "Group", or the "Company")
9 May 2019
BOARD CHANGE - RETIREMENT OF NON-EXECUTIVE DIRECTOR
The Unite Group plc, the UK's leading manager and developer of student accommodation, announces that Andrew Jones, a Non-Executive Director, stepped down from the Board on Thursday, 9 May 2019 after serving for six years.
Andrew's intention of stepping down at the AGM and retirement from the Board and its Committees was disclosed in the 2018 Annual Report & Accounts.
Phil White, Chairman of the Company commented:
"It has been my great pleasure to work with Andrew over the last six years. We have all benefited from his sound judgement and wealth of experience of UK REITS and the wider property market. I would like to thank him for his contribution to Unite and we wish him the very best for the future."
For further information, please contact:
Candice Macdonald, Head of Communications
Powerscourt (PR adviser to Unite)
Justin Griffiths or Victoria Heslop
Tel: +44 7525 592 521
Tel: +44 207 250 1446
About Unite Students
Unite Students is the UK's largest manager and developer of purpose-built student accommodation serving the country's world-leading higher education sector. We currently provide homes for almost 50,000 students in circa 130 properties across 22 leading university towns and cities in England and Scotland. Unite also has a strong development pipeline, which will deliver more than 6,000 beds in the next three years.
Our 1,400 people are driven by a common purpose: to provide the students who live with us a 'Home for Success' and to be the most trusted brand in the sector. We do this through quality service, quality people and quality properties, all designed on the basis of an unrivalled insight into students' needs and preferences.
Unite's accommodation is high quality, safe and secure, and located close to university campuses, transport links and local amenities. Students live predominantly in en-suite study bedrooms with rents covering all bills, insurance, 24-hour security, fortnightly cleaning services and high-speed Wi-Fi. MyUnite, our mobile app, provides practical support such as instant messaging and maintenance requests.
Our commitment to customer service is powered by an innovative, in-house operating platform. It provides a wide range of benefits to our students, such as an optimised online booking process, as well as providing us with a unique ability to drive value from our portfolio through scale efficiencies and revenue management.
Alongside delivering quality service, our other strategic priority is delivering growing and sustainable earnings, underpinned by a strong capital structure. A key part of this strategy is growing the number of beds let though partnerships with mid and high tariff universities which are experiencing record levels of student demand. We currently partner with 60 higher education institutions, guaranteeing that approximately 60% of our rooms are let under multi-year, 'nomination agreements' providing high visibility of forward occupancy and rental growth.
Unite is invested in and operates two specialist funds and joint ventures with institutional investment partners: the £2 billion Unite UK Student Accommodation Fund (USAF), and the £1 billion London Student Accommodation Vehicle (LSAV).
Unite is the founder of and major donor to the Unite Foundation, a charitable trust established to support talented students facing challenging financial circumstances through the provision of free accommodation annual scholarships. The Foundation has so far provided scholarships for 250 young people working in close collaboration with 28 universities.
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.
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Quick facts: Unite Group
Market Cap: £3.47 billion
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