Business
Trading update and Q4 Fund Valuations
Unite Students reiterates its FY2025 adjusted EPS guidance of 47.5-48.25p and announces a £100 million share buyback program, funded by reduced off-campus development. While 64% of beds are sold for the 2026/27 academic year, slightly behind last year's 67%, the company anticipates continued demand and rental growth of 2-3% for the upcoming academic year, compared to 4.0% in 2025/26. Q4 property valuations saw modest reductions, with USAF down 0.7% and LSAV down 1.4%, though full-year valuations for both funds showed slight increases. The acquisition of Empiric Student Property is expected to complete by late January 2026. Disclaimer*
About this update from Unite Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nFOR IMMEDIATE RELEASE\n9 January 2026\nTHE UNITE GROUP PLC\n('Unite Students', 'Unite', the 'Group', or the 'Company')\nTRADING UPDATE AND Q4 FUND VALUATIONS\n \nUnite Students, the UK's leading owner, manager and developer of student accommodation, today announces an update on current trading and quarterly property valuations for the Unite UK Student Accommodation Fund ('USAF') and the London Student Accommodation Joint Venture ('LSAV') as at 31 December 2025.\n \nJoe Lister, Unite Students Chief Executive Officer, commented:\n\"Sales progress to date is consistent with our guidance for occupancy of 93-96% and rental growth of 2-3% for the 2026/27 academic year (2025/26: 95.2% and 4.0%). Our conversations with our university partners show continued demand for our high-quality, value-for-money accommodation, notwithstanding a slower start to the 2026/27 sales cycle.\n \nConsistent with the revised capital allocation policy set out at our recent investor event, we are today launching a £100m share buyback programme to return surplus capital to shareholders. This will initially be funded through reduced off-campus development activity, which maintains our high-quality balance sheet. We will continue to invest where we see the strongest risk-adjusted returns and expect to generate further surplus capital over the year ahead as we make progress with planned disposals.\n \nWe are focused on delivering on our strategic priorities, namely driving operational excellence and optimising capital allocation. These underpin our medium-term outlook and our path to return to earnings growth from 2027.\"\n \nHighlights\n· Reiteration of FY2025 guidance for adjusted EPS of 47.5-48.25p\n· Continued demand with 64% of beds sold for the 2026/27 academic year (2025/26: 67%)\n· Funding complete and construction underway at Newcastle University joint venture\n· Launch of share buyback programme of up to £100 million given high-quality balance sheet\n· Modest reduction in Q4 valuations (USAF: (0.7%), LSAV: (1.4%), FY2025: +0.7% and +0.5%)\n \nThe Company will host a conference call for investors and analysts this morning at 08:30am GMT. Dial-in details are:\nTitle &...