Unite Group disposes of six properties in Aberdeen

21st Sep 2022 07:47

(Sharecast News) - Student accommodation provider Unite Group has disposed of a portfolio of six properties in Aberdeen for £33.0m, in line with prevailing book value and reflecting a passing net operating income yield of 6.0% for the 2022-23 academic year.

Unite Group said on Wednesday that it had sold the portfolio, which was made up of 1,050 beds, to Clearbell Property Partners III, a fund managed by Clearbell Capital.

The FTSE 100-listed group highlighted that the disposal sees it exit several "smaller and less operationally efficient assets", whilst retaining 911 beds across two properties in close proximity to each other in Aberdeen.

United added that it has now completed the sale of a total of £339.0m worth of properties in 2022, wrapping up its planned disposal activity for the year.

Reporting by Iain Gilbert at Sharecast.com