Unite Students: Difference between revisions
Adding short description: "British real estate company" (Shortdesc helper) |
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{{Short description|British real estate company}} |
{{Short description|British real estate company}} |
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{{Use dmy dates|date= |
{{Use dmy dates|date=October 2023}} |
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{{Use British English|date=July 2013}} |
{{Use British English|date=July 2013}} |
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{{Infobox company |
{{Infobox company |
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|name = |
| name = The Unite Group plc |
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|logo= |
| logo = Logo Unite Students.svg |
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|logo_size=150px |
| logo_size = 150px |
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|type=[[Public company|Public]] |
| type = [[Public company|Public]] |
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|traded_as = {{ubl|{{lse|UTG}}|[[FTSE |
| traded_as = {{ubl|{{lse|UTG}}|[[FTSE 100 Index|FTSE 100]] component}} |
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|foundation=1991 |
| foundation = 1991 |
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|founder=Nicholas Porter |
| founder = Nicholas Porter |
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|location = [[Bristol]], England, UK |
| location = [[Bristol]], England, UK |
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|industry=[[ |
| industry = [[Dormitory#Off-campus residence|Student accommodation]] |
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|products=Student accommodation ([[halls of residence]]) |
| products = Student accommodation ([[halls of residence]]) |
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|services=[[real estate|Property investment]] and [[property development|development]] |
| services = [[real estate|Property investment]] and [[property development|development]] |
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| revenue ={{increase}} [[Pound sterling|£]] |
| revenue = {{increase}} [[Pound sterling|£]]276.1 million (2023)<ref name=results>{{cite web|url=https://www.unitegroup.com/wp-content/uploads/2024/02/Unite-Group-2023-Financial-Results-Prelims-Statement.pdf|title=Annual Results 2023|publisher=Unite Students|access-date=28 February 2024}}</ref> |
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| operating_income ={{increase}} [[Pound sterling|£]] |
| operating_income = {{increase}} [[Pound sterling|£]]154.7 million (2023)<ref name=results/> |
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| net_income ={{ |
| net_income = {{decrease}} [[Pound sterling|£]]103.6 million (2023)<ref name=results/> |
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| num_employees = |
| num_employees = 2,000 (2024)<ref>{{cite web|url=https://www.brightnetwork.co.uk/graduate-employer-company/unite-students/|title=Unite Students|publisher=Bright Network|access-date=12 February 2024}}</ref> |
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|homepage={{URL|https://www.unite-group.co.uk}} |
| homepage = {{URL|https://www.unite-group.co.uk}} |
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|key_people=Phil White [[Order of the British Empire|CBE]], ([[Chair (official)|Chairman]])<br>Richard Smith ([[CEO]])<br>Joe Lister ([[CFO]]) |
| key_people = Phil White [[Order of the British Empire|CBE]], ([[Chair (official)|Chairman]])<br>Richard Smith ([[CEO]])<br>Joe Lister ([[CFO]]) |
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}} |
}} |
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'''The Unite Group''' (trading as '''Unite Students''') provides purpose built student accommodation (PBSA) across the United Kingdom. |
'''The Unite Group''' (trading as '''Unite Students''') provides purpose built student accommodation (PBSA) across the United Kingdom. |
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The company is listed on the [[London Stock Exchange]] as |
The company is listed on the [[London Stock Exchange]] as a constituent of the [[FTSE 100 Index]]. |
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==History== |
==History== |
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[[File:Tottenham Hale station MMB 07.jpg|thumb|240px|A Unite Students facility near [[Tottenham Hale station]]]] |
[[File:Tottenham Hale station MMB 07.jpg|thumb|240px|A Unite Students facility near [[Tottenham Hale station]]]] |
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The Unite Group was founded by Nicholas Porter in [[Bristol]], England, in 1991.<ref>{{cite web|url=http://www.southwestbusiness.co.uk/regions/bristol/bristol-post-business-awards--unite-students-take-top-award-06072016140643/|title=Bristol Post Business Awards: Unite Students take top award|date=6 July 2016|publisher=South West Business|access-date=28 April 2017}}</ref> Aged 21 and following research with the [[University of the West of England]], he recognised a growing demand for student accommodation.<ref>{{cite web|url=http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article163853.ece|archive-url=https://web.archive.org/web/20141222132733/http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article163853.ece|url-status=dead|archive-date=22 December 2014|title=Nicholas Porter |
The Unite Group was founded by Nicholas Porter in [[Bristol]], England, in 1991.<ref>{{cite web|url=http://www.southwestbusiness.co.uk/regions/bristol/bristol-post-business-awards--unite-students-take-top-award-06072016140643/|title=Bristol Post Business Awards: Unite Students take top award|date=6 July 2016|publisher=South West Business|access-date=28 April 2017}}</ref> Aged 21 and following research with the [[University of the West of England]], he recognised a growing demand for student accommodation.<ref>{{cite web|url=http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article163853.ece|archive-url=https://web.archive.org/web/20141222132733/http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article163853.ece|url-status=dead|archive-date=22 December 2014|title=Nicholas Porter – The Sunday Times|work=thesundaytimes.co.uk|access-date=3 April 2015}}</ref> After a period of expansion within Bristol, in 1998 Unite opened its first properties in London. It listed on the [[Alternative Investment Market]] the following year.<ref>{{cite web|url=https://www.egi.co.uk/news/dtz-loses-bristol-director-to-student-housing-specialist/|title=DTZ loses Bristol director to student housing specialist|date=9 June 1999|publisher=Radius Data Exchange|access-date=3 March 2021}}</ref> |
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In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.<ref>{{cite web|url=http://www.unite-students.com/about-us/our-story-so-far|title=Our story so far|work=Unite Students|access-date=3 April 2015}}</ref> During the following decade, Unite created investment vehicles to secure growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF<ref>{{Cite web|url=https://www.aref.org.uk/funds/unite-uk-student-accommodation-fund.html|title=UNITE UK Student Accommodation Fund|website= |
In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.<ref>{{cite web|url=http://www.unite-students.com/about-us/our-story-so-far|title=Our story so far|work=Unite Students|access-date=3 April 2015}}</ref> During the following decade, Unite created investment vehicles to secure growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF<ref>{{Cite web|url=https://www.aref.org.uk/funds/unite-uk-student-accommodation-fund.html|title=UNITE UK Student Accommodation Fund|website=aref.org.uk|access-date=2020-03-29}}</ref>) is Europe's largest fund focusing solely on direct-let student accommodation.<ref>{{cite web|url=http://www.bedellgroup.com/news-item.aspx?Document_ID=11919&FriendlyID=Bedell-Cristin-acts-for-the-Unite-UK-Student-Accommodation-Fund-USAF|title=Bedell|work=bedellgroup.com|access-date=3 April 2015}}</ref> In 2006, Porter announced he was stepping down as chief executive. He was succeeded at the end of the year by [[chief financial officer]] Mark Allan.<ref>{{cite web|url=http://www.propertyweek.com/student-digs-chief-steps-down-with-honours/3064377.article|title=Student digs chief steps down with honours|work=Property Week|access-date=3 April 2015}}</ref> |
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Former [[National Express]] chief executive Phil White became non-executive chairman in May 2009, succeeding Geoffrey Maddrell, after ten years in the role.<ref>{{cite web|url=http://www.propertyeu.info/index-newsletter/unite-group-taps-phil-white-as-new-chairman/|title=Unite Group taps Phil White as new chairman|work=propertyeu.info|access-date=3 April 2015}}</ref> By 2011 the business had grown to 40,000 beds. It remains the UK's largest provider of student accommodation by capacity,<ref>{{cite web|url=http://www.propertyweek.com/news/unite-students-set-for-399-bed-aberdeen-development/5071750.article|title=Unite Students set for 399-bed Aberdeen development|work=Property Week|access-date=3 April 2015}}</ref> but second to [[IQ Student Accommodation]] by value of its portfolio of property.<ref name="Daily Telegraph">{{cite web|url=https://www.telegraph.co.uk/business/2018/02/18/former-rbs-director-chair-uks-largest-student-digs-company/|title=RBS director to chair UK's largest student digs company|first=Rhiannon|last=Curry|date=18 February 2018 |
Former [[National Express]] chief executive Phil White became non-executive chairman in May 2009, succeeding Geoffrey Maddrell, after ten years in the role.<ref>{{cite web|url=http://www.propertyeu.info/index-newsletter/unite-group-taps-phil-white-as-new-chairman/|title=Unite Group taps Phil White as new chairman|work=propertyeu.info|access-date=3 April 2015}}</ref> By 2011 the business had grown to 40,000 beds. It remains the UK's largest provider of student accommodation by capacity,<ref>{{cite web|url=http://www.propertyweek.com/news/unite-students-set-for-399-bed-aberdeen-development/5071750.article|title=Unite Students set for 399-bed Aberdeen development|work=Property Week|access-date=3 April 2015}}</ref> but second to [[IQ Student Accommodation]] by value of its portfolio of property.<ref name="Daily Telegraph">{{cite web|url=https://www.telegraph.co.uk/business/2018/02/18/former-rbs-director-chair-uks-largest-student-digs-company/|title=RBS director to chair UK's largest student digs company|first=Rhiannon|last=Curry|date=18 February 2018|access-date=10 September 2018|work=The Daily Telegraph|location=London}}</ref> |
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In 2012 it founded charitable trust [[The Unite Foundation]], which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances".<ref>{{cite web|url=http://www.unitefoundation.co.uk/about-us|title=About Us|work=unitefoundation.co.uk|access-date=3 April 2015}}</ref> 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.<ref>{{cite web|url=http://www.unite-group.co.uk/our-accommodation/living-with-unite|title=Home for Success|work=unite-group.co.uk|access-date=3 April 2015}}</ref> |
In 2012 it founded charitable trust [[The Unite Foundation]], which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances".<ref>{{cite web|url=http://www.unitefoundation.co.uk/about-us|title=About Us|work=unitefoundation.co.uk|access-date=3 April 2015}}</ref> 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.<ref>{{cite web|url=http://www.unite-group.co.uk/our-accommodation/living-with-unite|title=Home for Success|work=unite-group.co.uk|access-date=3 April 2015}}</ref> |
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In November 2019, the Competition and Markets Authority approved the proposed acquisition by the company of its competitor, Liberty Living, for £1.4 billion.<ref>{{Cite web|url=https://www.cityam.com/competition-and-markets-authority-approves-1-4bn-unite-students-acquisition-of-liberty-living/|title=Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living|last=Clark|first=Jessica|date=6 November 2019|website=City A.M.|access-date=15 April 2020}}</ref> The transaction was completed in December 2019.<ref>{{Cite web|url=https://www.insidermedia.com/news/south-west/unite-group-completes-liberty-living-acquisition|title=Unite Group Completes Liberty Living Acquisition|last=Beech|first=Adam|date=29 November 2019|website=Insider Media|access-date=15 April 2020}}</ref> |
In November 2019, the Competition and Markets Authority approved the proposed acquisition by the company of its competitor, Liberty Living, for £1.4 billion.<ref>{{Cite web|url=https://www.cityam.com/competition-and-markets-authority-approves-1-4bn-unite-students-acquisition-of-liberty-living/|title=Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living|last=Clark|first=Jessica|date=6 November 2019|website=City A.M.|access-date=15 April 2020}}</ref> The transaction was completed in December 2019.<ref>{{Cite web|url=https://www.insidermedia.com/news/south-west/unite-group-completes-liberty-living-acquisition|title=Unite Group Completes Liberty Living Acquisition|last=Beech|first=Adam|date=29 November 2019|website=Insider Media|access-date=15 April 2020}}</ref> |
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On 1 June 2022, it was announced that it will be promoted from the FTSE 250, and became a constituent of the [[FTSE 100 Index]] effective on 20 June.<ref name="The Guardian">{{cite news |last1=Wearden |first1=Graeme |title=ITV and Royal Mail to drop out of FTSE 100 in reshuffle |url=https://www.theguardian.com/business/2022/jun/01/itv-and-royal-mail-to-drop-out-of-ftse-100-in-reshuffle |access-date=2 June 2022 |work=The Guardian |date=2 June 2022}}</ref> |
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==Operations== |
==Operations== |
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The company provides residential accommodation to around 74,000 students across 123 buildings across the UK,<ref>{{cite web|url=https://highereducation.unite-group.co.uk/|title=Higher Education|publisher=Unite Students|date=7 July 2021}}</ref> and is the largest and oldest PBSA provider in the country.<ref>{{cite web|url=http://www.ft.com/cms/s/0/d1442ab8-06ca-11e4-b0d3-00144feab7de.html#axzz3Mcjvn7yr|title=Unite snaps up Cordea |
The company provides residential accommodation to around 74,000 students across 123 buildings across the UK,<ref>{{cite web|url=https://highereducation.unite-group.co.uk/|title=Higher Education|publisher=Unite Students|date=7 July 2021}}</ref> and is the largest and oldest PBSA provider in the country.<ref>{{cite web|url=http://www.ft.com/cms/s/0/d1442ab8-06ca-11e4-b0d3-00144feab7de.html#axzz3Mcjvn7yr|title=Unite snaps up Cordea Savills' £137m student housing portfolio|work=Financial Times|location=London|access-date=3 April 2015}}</ref> |
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==Notable properties== |
==Notable properties== |
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* [[Unite Grand Central|Grand Central]] |
* [[Unite Grand Central|Grand Central]] – [[Liverpool]]<ref>{{cite web|url=http://www.emporis.com/en/wm/cx/?id=117066|archive-url=https://web.archive.org/web/20070603171747/http://www.emporis.com/en/wm/cx/?id=117066|url-status=dead|archive-date=3 June 2007|title=Grand Central|publisher=Emporis|access-date=2010-03-29}}</ref> |
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* [[Sky Plaza]] |
* [[Sky Plaza]] – [[Leeds]]<ref name="Skyscraper News">{{cite web|url=http://www.skyscrapernews.com/news.php?ref=2178|title=Worlds Tallest Student Block Completes in Leeds|publisher=Skyscraper News|date= 2009-06-26|access-date=2012-03-17}}</ref> |
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* [[Liberty Park]] – [[Leicester]]<ref name="Skyscraper News"/> |
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==References== |
==References== |
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{{reflist |
{{reflist}} |
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== External links == |
== External links == |
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{{Real estate in the United Kingdom}} |
{{Real estate in the United Kingdom}} |
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{{FTSE |
{{FTSE 100 Index constituents}} |
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{{Authority control}} |
{{Authority control}} |
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[[Category: |
[[Category:Real estate companies established in 1991]] |
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[[Category:Companies based in Bristol]] |
[[Category:Companies based in Bristol]] |
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[[Category:Companies listed on the London Stock Exchange]] |
[[Category:Companies listed on the London Stock Exchange]] |
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[[Category:Student housing]] |
[[Category:Student housing]] |
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[[Category:1991 establishments in |
[[Category:1991 establishments in England]] |
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[[Category:Real estate investment trusts of the United Kingdom]] |
[[Category:Real estate investment trusts of the United Kingdom]] |
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[[Category:Companies in the FTSE 100 Index]] |
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[[Category:Halls of residence in the United Kingdom]] |
Latest revision as of 11:28, 28 February 2024
Company type | Public |
---|---|
Industry | Student accommodation |
Founded | 1991 |
Founder | Nicholas Porter |
Headquarters | Bristol, England, UK |
Key people | Phil White CBE, (Chairman) Richard Smith (CEO) Joe Lister (CFO) |
Products | Student accommodation (halls of residence) |
Services | Property investment and development |
Revenue | £276.1 million (2023)[1] |
£154.7 million (2023)[1] | |
£103.6 million (2023)[1] | |
Number of employees | 2,000 (2024)[2] |
Website | www |
The Unite Group (trading as Unite Students) provides purpose built student accommodation (PBSA) across the United Kingdom.
The company is listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
History[edit]
The Unite Group was founded by Nicholas Porter in Bristol, England, in 1991.[3] Aged 21 and following research with the University of the West of England, he recognised a growing demand for student accommodation.[4] After a period of expansion within Bristol, in 1998 Unite opened its first properties in London. It listed on the Alternative Investment Market the following year.[5]
In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.[6] During the following decade, Unite created investment vehicles to secure growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF[7]) is Europe's largest fund focusing solely on direct-let student accommodation.[8] In 2006, Porter announced he was stepping down as chief executive. He was succeeded at the end of the year by chief financial officer Mark Allan.[9]
Former National Express chief executive Phil White became non-executive chairman in May 2009, succeeding Geoffrey Maddrell, after ten years in the role.[10] By 2011 the business had grown to 40,000 beds. It remains the UK's largest provider of student accommodation by capacity,[11] but second to IQ Student Accommodation by value of its portfolio of property.[12]
In 2012 it founded charitable trust The Unite Foundation, which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances".[13] 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.[14]
Unite Group converted to a real estate investment trust with effect from 1 January 2017.[15]
In November 2019, the Competition and Markets Authority approved the proposed acquisition by the company of its competitor, Liberty Living, for £1.4 billion.[16] The transaction was completed in December 2019.[17]
On 1 June 2022, it was announced that it will be promoted from the FTSE 250, and became a constituent of the FTSE 100 Index effective on 20 June.[18]
Operations[edit]
The company provides residential accommodation to around 74,000 students across 123 buildings across the UK,[19] and is the largest and oldest PBSA provider in the country.[20]
Notable properties[edit]
References[edit]
- ^ a b c "Annual Results 2023" (PDF). Unite Students. Retrieved 28 February 2024.
- ^ "Unite Students". Bright Network. Retrieved 12 February 2024.
- ^ "Bristol Post Business Awards: Unite Students take top award". South West Business. 6 July 2016. Retrieved 28 April 2017.
- ^ "Nicholas Porter – The Sunday Times". thesundaytimes.co.uk. Archived from the original on 22 December 2014. Retrieved 3 April 2015.
- ^ "DTZ loses Bristol director to student housing specialist". Radius Data Exchange. 9 June 1999. Retrieved 3 March 2021.
- ^ "Our story so far". Unite Students. Retrieved 3 April 2015.
- ^ "UNITE UK Student Accommodation Fund". aref.org.uk. Retrieved 29 March 2020.
- ^ "Bedell". bedellgroup.com. Retrieved 3 April 2015.
- ^ "Student digs chief steps down with honours". Property Week. Retrieved 3 April 2015.
- ^ "Unite Group taps Phil White as new chairman". propertyeu.info. Retrieved 3 April 2015.
- ^ "Unite Students set for 399-bed Aberdeen development". Property Week. Retrieved 3 April 2015.
- ^ Curry, Rhiannon (18 February 2018). "RBS director to chair UK's largest student digs company". The Daily Telegraph. London. Retrieved 10 September 2018.
- ^ "About Us". unitefoundation.co.uk. Retrieved 3 April 2015.
- ^ "Home for Success". unite-group.co.uk. Retrieved 3 April 2015.
- ^ "Notice of General Meeting for REIT Conversion and Trading Update". unite-group.co.uk. Retrieved 6 November 2017.
- ^ Clark, Jessica (6 November 2019). "Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living". City A.M. Retrieved 15 April 2020.
- ^ Beech, Adam (29 November 2019). "Unite Group Completes Liberty Living Acquisition". Insider Media. Retrieved 15 April 2020.
- ^ Wearden, Graeme (2 June 2022). "ITV and Royal Mail to drop out of FTSE 100 in reshuffle". The Guardian. Retrieved 2 June 2022.
- ^ "Higher Education". Unite Students. 7 July 2021.
- ^ "Unite snaps up Cordea Savills' £137m student housing portfolio". Financial Times. London. Retrieved 3 April 2015.
- ^ "Grand Central". Emporis. Archived from the original on 3 June 2007. Retrieved 29 March 2010.
- ^ a b "Worlds Tallest Student Block Completes in Leeds". Skyscraper News. 26 June 2009. Retrieved 17 March 2012.