Unite Group cuts rents at some universities and raises cash by selling London site to joint venture for £186m
A drop in the number of international students coming to the UK has hit the student housing provider Unite Group, which lowered its profit outlook for the third time in four months as weaker demand prompted it to cut rents in some cities.
Shares in the FTSE 250-listed company – which says it is the UK’s biggest student housing provider – fell more than 12% to the lowest level since early 2015. It said it would build far less student housing, after the completion of Hawthorne House in Stratford with 719 beds, expected in June.
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