Unite Students: Difference between revisions
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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 250 Index|FTSE 250]] component}} |
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| foundation = 1991 |
| foundation = 1991 |
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| founder = Nicholas Porter |
| founder = Nicholas Porter |
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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 a constituent of the [[FTSE |
The company is listed on the [[London Stock Exchange]] as a constituent of the [[FTSE 250 Index]]. |
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==History== |
==History== |
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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== |
Revision as of 21:42, 2 June 2022
File:Unite Students logo - yellow.jpg | |
Company type | Public |
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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 | £266.9 million (2021)[1] |
£256.7 million (2021)[1] | |
£344.5 million (2021)[1] | |
Number of employees | 1,900 (2022)[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 250 Index.
History
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
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
References
- ^ a b c "Annual Results 2021" (PDF). Unite Students. Retrieved 23 February 2022.
- ^ "Home for success". Unite Students. Retrieved 17 February 2022.
- ^ "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". www.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. Retrieved 10 September 2018 – via www.telegraph.co.uk.
- ^ "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. Retrieved 3 April 2015.
- ^ "Grand Central". Emporis. Retrieved 29 March 2010.
- ^ "Worlds Tallest Student Block Completes In Leeds". Skyscraper News. 26 June 2009. Retrieved 17 March 2012.
- ^ "Worlds Tallest Student Block Completes In Leeds". Skyscraper News. 26 June 2009. Retrieved 17 March 2012.