Unite Group acquires site for £195m London development
Source - SMW
Unite Group has agreed to acquire a close to 1,000 bed development site in London estimated to cost around £195m to build.
The acquisition is subject to achieving a planning consent and is being supported through planning by Kings College London.
Located in Middlesex Street, the new building is planned to be completed for the 2021/22 academic year. It is estimated to generate a development yield of around 6.25%, in line with Unite Group's target for University partnership transactions.