Unite Students provides Purpose Built Student Accommodation (PBSA) across the United Kingdom. 'Unite Students' is the trade name for The Unite Group Plc, a London Stock Exchange listed Real estate investment trust and a constituent of the FTSE 250 Index.
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History
The Unite Group was founded by Nicholas Porter in Bristol in 1991. The business was founded by Nicholas Porter who, aged 21 and following research with the University of the West of England, recognised a growing demand for student accommodation. After a period of expansion within Bristol, in 1998 Unite opened its first properties in London. It became a listed company on the Alternative Investment Market the following year.
In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth. During the following decade Unite created investment vehicles to secure rapid growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF) is Europe's largest fund focusing solely on direct-let student accommodation. In 2006 founder Nicholas Porter announced he was stepping down as Chief Executive. He was replaced at the end of the year by Chief Financial Officer Mark Allan.
Former National Express Chief Executive Phil White CBE became Non-Executive Chairman in May 2009, replacing Geoffrey Maddrell who had previously announced his departure after 10 years in the role. By 2011 the business had grown to 40,000 beds. It remains the UK's biggest provider of student accommodation by capacity. In 2012 it founded charitable trust The Unite Foundation, which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances". In April 2014 Unite renamed itself 'Unite Students'. Simultaneously, it launched its 'Home for Success' corporate philosophy; which it describes as its "business purpose". The Home for Success announcement included a £40m reinvestment of profits into the business and 16 "signature commitments," all of which relate to an improved student experience.
Unite Group converted to a real estate investment trust with effect from 1 January 2017.
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Operations
The company provides residential accommodation to around 50,000 students in circa 140 buildings across the UK. Unite Students is the largest and oldest PBSA provider in the UK.
Notable properties
- Grand Central - Liverpool, Merseyside
- Sky Plaza - Leeds, West Yorkshire
- Stratford ONE - Stratford, London
Source of the article : Wikipedia
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