Unite Students

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The Unite Group was founded by Nicholas Porter in Bristol, England, in 1991.{{cite web|url=http://www.southwestbusiness.co.uk/regions/bristol/bristol-post-business-awards--unite-students-take-top-award-06072016140643/|title=Bristol Post Business Awards: Unite Students take top award|date=6 July 2016|publisher=South West Business|access-date=28 April 2017}} Aged 21 and following research with the University of the West of England, he recognised a growing demand for student accommodation.{{cite web|url=http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article163853.ece|archive-url=https://web.archive.org/web/20141222132733/http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article163853.ece|url-status=dead|archive-date=22 December 2014|title=Nicholas Porter – The Sunday Times|work=thesundaytimes.co.uk|access-date=3 April 2015}} After a period of expansion within Bristol, in 1998 Unite opened its first properties in London. It listed on the Alternative Investment Market the following year.{{cite web|url=https://www.egi.co.uk/news/dtz-loses-bristol-director-to-student-housing-specialist/|title=DTZ loses Bristol director to student housing specialist|date=9 June 1999|publisher=Radius Data Exchange|access-date=3 March 2021}}

In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.{{cite web|url=http://www.unite-students.com/about-us/our-story-so-far|title=Our story so far|work=Unite Students|access-date=3 April 2015}} During the following decade, Unite created investment vehicles to secure growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF{{Cite web|url=https://www.aref.org.uk/funds/unite-uk-student-accommodation-fund.html|title=UNITE UK Student Accommodation Fund|website=aref.org.uk|access-date=2020-03-29}}) is Europe's largest fund focusing solely on direct-let student accommodation.{{cite web|url=http://www.bedellgroup.com/news-item.aspx?Document_ID=11919&FriendlyID=Bedell-Cristin-acts-for-the-Unite-UK-Student-Accommodation-Fund-USAF|title=Bedell|work=bedellgroup.com|access-date=3 April 2015}} In 2006, Porter announced he was stepping down as chief executive. He was succeeded at the end of the year by chief financial officer Mark Allan.{{cite web|url=http://www.propertyweek.com/student-digs-chief-steps-down-with-honours/3064377.article|title=Student digs chief steps down with honours|work=Property Week|date=16 March 2006 |access-date=3 April 2015}}

By 2011 the business had grown to 40,000 beds. It remains the UK's largest provider of student accommodation by capacity,{{cite web|url=http://www.propertyweek.com/news/unite-students-set-for-399-bed-aberdeen-development/5071750.article|title=Unite Students set for 399-bed Aberdeen development|work=Property Week|date=2 December 2014 |access-date=3 April 2015}} but second to IQ Student Accommodation by value of its portfolio of property.{{cite web|url=https://www.telegraph.co.uk/business/2018/02/18/former-rbs-director-chair-uks-largest-student-digs-company/|title=RBS director to chair UK's largest student digs company|first=Rhiannon|last=Curry|date=18 February 2018|access-date=10 September 2018|work=The Daily Telegraph|location=London}}

In 2012 it founded charitable trust The Unite Foundation, which provides free accommodation and a cost-of-living allowance to students from "challenging circumstances".{{cite web|url=http://www.unitefoundation.co.uk/about-us|title=About Us|work=unitefoundation.co.uk|access-date=3 April 2015}} In April 2014 Unite renamed itself "Unite Students". Simultaneously, it launched its "Home for Success" corporate philosophy; which it describes as its "business purpose". The Home for Success announcement included a £40m reinvestment of profits into the business and 16 "signature commitments", all of which relate to an improved student experience.{{cite web|url=http://www.unite-group.co.uk/our-accommodation/living-with-unite|title=Home for Success|work=unite-group.co.uk|access-date=3 April 2015}}

Unite Group converted to a real estate investment trust with effect from 1 January 2017.{{cite web|url=http://ppe.unite-group.co.uk/media/news/08-11-16/notice-of-general-meeting-for-reit-conversion-and-trading-update|title=Notice of General Meeting for REIT Conversion and Trading Update|work=unite-group.co.uk|access-date=6 November 2017}}

In November 2019, the Competition and Markets Authority approved the proposed acquisition by the company of its competitor, Liberty Living, for £1.4 billion.{{Cite web|url=https://www.cityam.com/competition-and-markets-authority-approves-1-4bn-unite-students-acquisition-of-liberty-living/|title=Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living|last=Clark|first=Jessica|date=6 November 2019|website=City A.M.|access-date=15 April 2020}} The transaction was completed in December 2019.{{Cite web|url=https://www.insidermedia.com/news/south-west/unite-group-completes-liberty-living-acquisition|title=Unite Group Completes Liberty Living Acquisition|last=Beech|first=Adam|date=29 November 2019|website=Insider Media|access-date=15 April 2020}}

On 1 June 2022, it was announced that it will be promoted from the FTSE 250, and became a constituent of the FTSE 100 Index effective on 20 June.{{cite news |last1=Wearden |first1=Graeme |title=ITV and Royal Mail to drop out of FTSE 100 in reshuffle |url=https://www.theguardian.com/business/2022/jun/01/itv-and-royal-mail-to-drop-out-of-ftse-100-in-reshuffle |access-date=2 June 2022 |work=The Guardian |date=2 June 2022}}

The company provides residential accommodation to around 74,000 students across 123 buildings across the UK,{{cite web|url=https://highereducation.unite-group.co.uk/|title=Higher Education|publisher=Unite Students|date=7 July 2021}} and is the largest and oldest PBSA provider in the country.{{cite web|url=http://www.ft.com/cms/s/0/d1442ab8-06ca-11e4-b0d3-00144feab7de.html#axzz3Mcjvn7yr|title=Unite snaps up Cordea Savills' £137m student housing portfolio|work=Financial Times|location=London|access-date=3 April 2015}}

• Artisan Heights – Manchester
• Bridgewater Heights – Manchester
• Dorset House – Oxford
• Grand Central – Liverpool{{cite web|url=http://www.emporis.com/en/wm/cx/?id=117066|archive-url=https://web.archive.org/web/20070603171747/http://www.emporis.com/en/wm/cx/?id=117066|url-status=usurped|archive-date=3 June 2007|title=Grand Central|publisher=Emporis|access-date=2010-03-29}}
• Newgate Court – Newcastle upon Tyne
• Rushford Court – Durham
• Sky Plaza – Leeds{{cite web|url=http://www.skyscrapernews.com/news.php?ref=2178|title=Worlds Tallest Student Block Completes in Leeds|publisher=Skyscraper News|date= 2009-06-26|access-date=2012-03-17}}
• Tŷ Pont Haearn – Cardiff

{{reflist}}

• [https://www.unite-group.co.uk Official site]

{{Real estate in the United Kingdom}}

{{FTSE 100 Index constituents}}

{{Authority control}}

Category:Real estate companies established in 1991

Category:Companies based in Bristol

Category:Companies listed on the London Stock Exchange

Category:Student housing

Category:1991 establishments in England

Category:Real estate investment trusts of the United Kingdom

Category:Companies in the FTSE 100 Index

Category:Halls of residence in the United Kingdom