Unite Students has confirmed the disposal of Greetham Street, Portsmouth and Gosford Gate, Coventry to USAF for a combined value of £88.4m. Both properties, comprising 1,122 beds, were completed in 2016 and are fully let for the 2016/17 academic year on nominations agreements to Portsmouth University and Coventry University, generating an income yield on cost of 9.3%. The disposals increase sales in the year to over £110m on a see-through basis and support Unite's strategy to recycle capital and maintain leverage at our target level in the mid-30% range. The blended valuation yield on the disposals was 5.65%, in line with valuation yields at the 30 June valuation date.
+9.00p (+1.60%)delayed 18:15PM