# Unite Students disposes of six properties in Aberdeen for £33 million

- Link: https://www.directorstalkinterviews.com/unite-students-disposes-of-six-properties-in-aberdeen-for-33-million/4121083215
- Published: 2022-09-21T08:20:16+01:00
- Author: Amilia Stone

**Unite Group plc** (LON:UTG) Unite Students, the UK’s leading owner, manager and
developer of student accommodation, today announces the disposal of a portfolio 
of six properties in Aberdeen, comprising 1,050 beds for £33 million (Unite share:
£20 million) to Clearbell Property Partners III LP, a fund managed by Clearbell 
Capital LP.

The disposal is priced in line with prevailing book value, which reflects a passing
NOI yield of 6.0% for the 2022/23 academic year. This disposal sees the Group exit
several smaller and less operationally efficient assets whilst retaining 911 beds
across two properties in close proximity to each other in Aberdeen. The Group has
now completed the sale of a total £339 million (Unite share: £256 million) of properties
in 2022, completing the Group’s planned disposal activity for the year.

> **Nick Hayes, Group Property Director of Unite Students, commented:**
> “This disposal of six small and less operationally efficient assets further enhances
> our alignment to the strongest markets where demand is highest. The proceeds will
> be used to help enhance our existing portfolio and to deliver on our record £1
> billion secured development pipeline.

The Unite Group is a United Kingdom-based owner, manager and developer of purpose-
built student accommodation. 

Share on: