거래 업데이트 및 1분기 펀드 평가
보도자료
9 4월 2024
유나이트 그룹 PLC
('학생단결', '단결', '그룹' 또는 '회사')
거래 업데이트 및 1분기 펀드 평가
강한 수요 AND RENTAL GROWTH UNDERPINNING PROPERTY VALUES
Unite Students, the UK's leading owner, manager and developer of student accommodation, today announces an update on current trading and quarterly property valuations for the Unite UK Student Accommodation Fund ('USAF') and the London Student Accommodation Joint Venture ('LSAV') as at 31 March 2024.
하이라이트
· 86/2024학년도 침대의 25%가 판매되는 등 강한 수요 지속(2023/24: 90%)
· Confident in delivering rental growth of at least 6% for the 2024/25 academic year
· Planning approvals for 1,450 new beds in London and Bristol
· Property values stable in Q1 (USAF: (0.5%), LSAV 0.8%) with rental growth offsetting the loss of Multiple Dwellings Relief
Unite Students의 CEO인 Joe Lister는 다음과 같이 말했습니다.
"Student demand is strong for the 2024/25 sales cycle, reflecting the continued appeal of our fixed-priced, all-inclusive offer and a growing shortage of high-quality student homes. Together with our alignment to the UK's strongest universities, this supports a positive outlook for rental growth for the 2024/25 academic year and underpins our property valuations.
"We continue to progress the delivery of our record £1.3 billion development pipeline, securing planning approvals on two schemes in London and Bristol. These projects will deliver much needed new student homes in two of the UK's strongest university cities."
현재 거래
2024/25 렛츠 성과
Demand for the Group's accommodation remains strong, with good progress in sales since our preliminary results. Across the Group's portfolio, 86% of rooms are now reserved for the 2024/25 academic year, ahead of our typical leasing pace and slightly below the record reservation rates last year (2023/24: 90%). Demand from universities continues to grow with a further 1,000 beds secured via nomination agreements since our preliminary results. Demand from international students remains robust despite recent changes to UK visa rules for dependents of postgraduate taught students. International direct-lets for 2024/25 currently account for 13% of rooms, broadly in-line with the 15% let at the same stage last year.
The ongoing strength of student demand supports our confidence in delivering rental growth of at least 6% and full occupancy for the 2024/25 academic year. Our balanced approach to rental growth will ensure sustainable returns over the long term, while also remaining good value for students.
속성 업데이트
We have achieved planning approvals on two development projects in recent weeks. Our 500-bed Freestone Island project in Bristol, which is located close to the University of Bristol's new Temple Quarter Enterprise Campus, has now received full planning consent. We expect to acquire the land in the coming weeks, which supports delivery of the scheme in time for the 2026/27 academic year.
Meridian Place, Stratford has received resolution to grant planning permission at committee and we anticipate securing full planning consent in the coming months. We now expect to deliver the 952-bed project for the 2028/29 academic year, following delays in our planning timetable.
At Castle Leazes in Newcastle, our joint venture with Newcastle University, a planning application has now been submitted to demolish the existing buildings. We expect to submit a planning application for around 2,000 new beds in April, which supports entry into the joint venture in Q4 this year.
We are tracking further opportunities for development, university partnerships and acquisitions in London and strong regional markets at attractive returns and expect to add to our pipeline in H1 2024.
폐기 업데이트
We continue to recycle capital to improve the quality of our portfolio and provide funding for reinvestment in new growth opportunities. We are in the advanced stages of selling a £180 million portfolio (Unite share: £75 million), which is expected to complete during Q2.
Multiple Dwellings Relief (MDR)
As part of the Spring Budget, the Government announced the abolition of MDR for residential property transactions in England with effect from 1 June. MDR provided relief for Stamp Duty Land Tax when purchasing two or more dwellings valued at £250,000 or less, which benefitted a number of our properties.
Our independent valuers have fully reflected the increase in purchasers' costs in the 31 March fund valuations, which has resulted in a £61 million (2.0%) and £6 million (0.3%) reduction in value for USAF and LSAV respectively. USAF is more significantly impacted due to the lower average value of dwellings (cluster flats or studios) for its portfolio.
Valuations for the Wholly Owned portfolio at 30 June will also reflect the loss of MDR. In isolation, we expect removal of MDR to reduce the Group's EPRA NTA by around £70 million (16p) in the first half, equivalent to a 1.3% reduction in asset values at Unite share.
분기별 펀드 평가
At 31 March 2024, USAF's property portfolio was independently valued at £2,982 million, a 0.5% reduction on a like-for-like basis during the quarter. The valuation loss reflects the one-off impact of MDR being abolished, partially offset by quarterly rental growth of 1.7%. Property yields were unchanged over the quarter at 5.3% . The portfolio comprises 27,922 beds in 71 properties across 19 university towns and cities in the UK.
LSAV's property portfolio was independently valued at £1,938 million, a 0.8% increase on a like-for-like basis during the quarter. The valuation increase in LSAV is driven by quarterly rental growth of 1.3%, partially offset by the abolition of MDR. Property yields were unchanged over the quarter at 4.5%. LSAV's investment portfolio comprises 9,716 beds across 14 properties in London and Aston Student Village in Birmingham.
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| LfL 자본 성장의 동인(1분기) | ||||
| 평가 월 2024 | 임대 성장 | Loss of Multiple Dwelling Relief | 항복 움직임 (bps) | Capital growth* |
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USAF | £ 2,982m | 1.7% | (2.0의 %) | - | (0.5의 %) |
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LSAV | £ 1,938m | 1.3% | (0.3의 %) | - | 0.8% |
| |
* Capital growth presented net of capital expenditure
ENDS
자세한 내용은 문의하시기 바랍니다 :
학생들을 단결
Joe Lister / Mike Burt / Saxon Ridley Tel: +44 117 302 7005
연합 언론사무실 Tel: + 44 117 450 6300
파워스코트
Justin Griffiths / Victoria Heslop Tel: +44 20 7250 1446
유나이트 스튜던트 소개
Unite Students는 영국의 세계 최고의 고등 교육 부문에 서비스를 제공하는 특수 목적 학생 숙소(PBSA)의 영국 최대 소유주, 관리자 및 개발자입니다. 우리는 70,000개의 주요 대학 도시와 도시의 157개 건물에서 23명의 학생들에게 집을 제공합니다. 현재 영국 전역의 60개 이상의 대학과 파트너 관계를 맺고 있습니다.
우리 직원들은 우리와 함께 사는 학생들에게 '성공을 위한 가정'을 제공한다는 공통의 목적을 가지고 있습니다. Unite Students의 숙소는 안전하고 고품질이며 저렴합니다. 학생들은 모든 청구서, 보험, 24시간 보안 및 고속 Wi-Fi를 포함하는 임대료와 함께 욕실이 딸린 학습 침실에서 주로 생활합니다. 우리는 또한 지난 감사에서 별 XNUMX개 영국 안전 위원회(British Safety Council) 등급을 획득했습니다.
우리는 고객, 투자자 및 직원을 위해 학생 숙소 부문의 표준을 높이기 위해 최선을 다하고 있습니다. 이것이 바로 2021년에 시작된 당사의 지속 가능성 전략에 2030년까지 당사의 운영 및 개발 전반에 걸쳐 탄소 순 제로가 되겠다는 약속이 포함되어 있는 이유입니다.
1991년 브리스톨에서 설립된 Unite Group은 수상 경력에 빛나는 부동산 투자 신탁(REIT)으로 런던 증권 거래소에 상장되어 있습니다. 자세한 내용은 유나이트 그룹의 기업 웹사이트를 참조하세요. www.unitegroup.com 또는 Unite Students의 사이트 www.unitestudents.com
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