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(Sharecast News) - Student accommodation provider Unite Group held annual guidance and said 74% of beds for the new academic year had been reserved as it also looked to speed up asset sales.
The company on Friday said it still expected occupancy and rental growth at lower end of 93-96% and 2-3% ranges for 2026/27 and was on track to deliver guidance for 300-400m of asset disposals in 2026 as it focused on a pivot to what it called "the strongest universities".
"As we generate proceeds from our disposal programme, we expect to commit to additional share buybacks out of surplus capital. At our upcoming annual general meeting, we are seeking authority to repurchase up to 14.99% of share capital in anticipation of progressing disposals," Unite said.
The company has 130m of disposals completed or under offer and marketing a further 500m of assets for disposal in the next six to 12 months. Advisers have been appointed to support acceleration of further sales to reposition Unite towards a "higher-quality portfolio aligned to the strongest universities".
Reporting by Frank Prenesti for Sharecast.com
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