Developer Unite poised to benefit as 100,000 students flood to the UKComments Off on Developer Unite poised to benefit as 100,000 students flood to the UK
Relaxed government regulations have given English universities the option to recruit as many students as they like from the UK and EU in the forthcoming academic year.
As a result, an extra 100,000 people will be studying here within the next two years, Unite chief executive Mark Allan predicts.
He told the Standard this should lead to reservations for some of the group’s 45,000 beds between now and university start dates jumping to 98% from 90%, while rental income could climb 4% by the end of 2015.
The forecast follows a strong six months to June 30 for the business. Pre-tax profit rose to £29.6 million from £20.4 million last year, while its share of rent income increased 20% to £77 million.
Demand for its London accommodation, including in Tottenham Hale, Islington and Stratford, was high from international pupils.
A note from JPMorgan said Unite’s performance “surpassed what we felt were pretty positive expectations”.
The company’s shares rose by 3.72p to 648.2p.