Investing.com -- The Q1 trading update from UNITe Group revealed a continuation in the sales momentum for the 2025/26 academic year. The company has sold 75% of its beds, which is in line with the expected later leasing cycle for the current year.
Shares rose 1.6% in early London trade Tuesday.
This figure is slightly lower than the 84% recorded for the 2024/25 academic year. UNITe Group, also known as UTG, is on track to achieve a rental growth of 4-5% and an occupancy rate of 97-98% for the 2025/26 academic year.
In addition to its Q1 trading update, UTG is progressing with a new joint venture (JV) with Manchester Metropolitan University. The JV will see the development of 2,300 beds at the university's Cambridge Halls site located in the city center of Manchester. The delivery of these beds is scheduled for 2029 and 2030.
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Joe Lister, CEO of UNITe Group, commented on the update. He said, "Reservations have accelerated in recent weeks, in line with our expectations for a later leasing cycle, and are underpinned by nomination agreements from our university partners. We remain on track to deliver rental growth of 4-5% and occupancy of 97-98% for the 2025/26 academic year."
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