Unite to redevelop site for student housing in Portsmouth

30th May 2014 07:02

Unite, which builds and manages student accommodation in the UK, is to buy and redevelop a site in Portsmouth to create 830 new beds for those studying in the city.The company said that the 0.77-acre site, subject to planning permissions, "will help address the shortage of purpose built student accommodation in the city".Portsmouth City Council currently owns the asset on Greetham Street, in the centre of the city. Unite said it will be one of the most significant student accommodation developments in Portsmouth in recent years.No financial information regarding the deal was given."This is an excellent example of how we are deploying the funds raised earlier in the year by investing in regions where there is short supply and strong demand for student accommodation," said Unite Students' Managing Director of Property, Richard Simpson."The new development will incorporate Unite's new look and feel which includes a series of innovations and improvements that will create a genuine home for students that help them succeed at university."Unite, having operated in the city for over a decade, already provides accommodation for 1,400 students across three properties associated with the University of Portsmouth. These comprise around half of the university's current accommodation. BC