Unite rental growth to be 7-10%

15th May 2009 09:55

Student accommodation firm Unite said rental growth will be in the range of 7-10% across its assets on a like for like basis in 2009/2010.The group said there is continued strong lettings performance for the 2009/2010 academic year with reservations on a like for like basis up 1% to 74%.It added that whilst the student accommodation sector has not been immune to outward yield movements, asset values have fallen at a rate of approximately one third of the level shown by broader market indices over the past two quarters. "The group is, of course, ever mindful of the prevailing economic and market conditions and continues to manage the business and its finances prudently to preserve and - where possible - enhance value," said Unite."At the same time, with the benefit of its market-leading position and skilled and experienced management, it constantly evaluates opportunities presented by the current market conditions to create future value for shareholders."