Unite fund growth slows to 1.6% in second quarter

8th Jul 2014 09:02

Student accommodation operator Unite said its UK Student Accommodation Fund (USAF) grew net assets 1.6% in the second quarter of the year, slowing from 2.8% growth in the first. Lettings for the forthcoming academic year were proceeding and rents increasing, with 76% of the portfolio now reserved, ahead of the 73% level at the same point in 2013.Further uplifts are anticipated in the third quarter as the 2014/15 academic year lettings cycle is completed.The NAV was £866.9m at June 30th, up from £853.6m at the end of March. This has led to an increase in underlying gross property portfolio value on a like for like basis of 0.9%.Shares in Unite were down 2.38p, or 0.60%, to 396.62p by 08:55 on Tuesday. OH