Unite moves into regional market for future developments

Author: David Howells - 13 May 2013

Student halls builder Unite is set to move its focus outside of London to new projects in Bristol and Huddersfield, investgate.co.uk reports.

After claiming that land costs and rival schemes were impacting its operational value in the capital, Unite opted to move to regional projects, with Bristol and Huddersfield marking the first such operations. It is hoped the move will enable Unite to continue working in the robust student accommodation industry whilst moving away from such a competitive market.

The change could also bring new investments to smaller cities around the UK, whilst also boosting the profile of its student accommodation and making such places a more attractive option for prospective students.

In Bristol, the firm is looking to build 500-room halls at the site of an old ice rink on Trenchard Street. Huddersfield, meanwhile, has seen Unite buy a 378-bed development with planning permission. Each is expected to see a modern student-centred development which could also include the likes of cycle shelters and steel benches to promote a more societal feel amongst the students who come to move in.

Commenting on the decision to move away from London, Unite chief executive Mark Allan told constructionenquirer.com: "The demand outlook for student accommodation is robust and there are clear signs of enhanced investor appetite in the sector which should underpin investment yields.

"The outlook for development activity remains compelling and... we are starting to see a small number of specific regional locations offering appealing opportunities on a highly selective basis. Similar opportunities are emerging in a select number of other regional locations with strong market fundamentals and we will continue to examine these on a highly selective basis."