Unite Students
| File:Unite Students logo - yellow.jpg | |
| Public (LSE: UTG) | |
| Industry | Student accommodation#Off campus residences |
| Founded | 1991 |
| Headquarters | Bristol, United Kingdom |
|
Key people
|
Phil White CBE, (Chairman) Mark Allan (CEO) Joe Lister (CFO) |
| Products | Student accommodation (halls of residence) |
| Services | Property investment and development |
| Revenue | £108.5 million (2014)[1] |
| £74.9 million (2014)[1] | |
| £104.8 million (2014)[1] | |
| Website | www.unite-group.co.uk |
Unite Students provides Purpose Built Student Accommodation (PBSA) across the United Kingdom. ‘Unite Students’ is the trade name for The Unite Group Plc, a London Stock Exchange listed business and a constituent of the FTSE 250 Index.
Unite Students is the largest and oldest PBSA provider in the UK.[2] It owns and maintains 130 properties across 23 towns and cities, with the capacity to home over 43,000 students.[3]
Contents
History
The Unite Group was founded in Bristol in 1991, and remains headquartered in the city.
The business was founded by Nicholas Porter who, aged 21 and following research with the University of the West of England, recognised a growing demand for student accommodation.[4] Unused office buildings in Bristol’s centre were converted into flats, opening to their first students in 1992.
After a period of expansion within Bristol, in 1998 Unite opened its first properties in London. It became a listed company on the Alternative Investment Market the following year.[5]
In 2000 the business moved its share register to the London Stock Exchange, and opened properties in Manchester, Liverpool and Portsmouth.[6]
During the following decade Unite created investment vehicles to secure rapid growth in London, across England and into Scotland. Of these vehicles, The Unite UK Student Accommodation Fund (USAF) is Europe’s largest fund focusing solely on direct-let student accommodation.[7]
In 2006 founder Nicholas Porter announced he was stepping down as Chief Executive. He was replaced at the end of the year by Chief Financial Officer Mark Allan.[8]
Former National Express Chief Executive Phil White CBE became Non-Executive Chairman in May 2009, replacing Geoffrey Maddrell who had previously announced his departure after 10 years in the role.[9]
By 2011 the business had grown to 40,000 beds. It remains the UK’s biggest provider of student accommodation by capacity.[10]
In 2012 it founded charitable trust The Unite Foundation, which provides free accommodation and a cost-of-living allowance to students from “challenging circumstances”.[11]
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.[12]
Leadership and operational structure
The Unite Group is led by a small executive team of Chief Executive Mark Allan, Chief Financial Officer Joe Lister, Managing Director of Property Richard Simpson and Managing Director of Operations Richard Smith.
Unite Students employs over 1,000 people, with about 250 in their central Bristol headquarters and the remainder in the 23 towns and cities in which they operate.
Notable properties
- Grand Central - Liverpool, Merseyside[13]
- Sky Plaza - Leeds, West Yorkshire[14]
- Stratford ONE - Stratford, London [15]
References
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