- International students key to rental income
- Pre-tax profit more than doubles
School's out for summer and investors in Unite (UTG) will be pleased to see that UK university applications hit a record high this year. Just shy of 684,000 applied before the 30 June deadline – the highest number since Ucas started recording the data in 2009 – and this has translated into a surge in demand for student accommodation. The company’s rental income has risen to £128mn for the six months to 30 June, which is not only more than the equivalent pre-pandemic period in 2019, but double it.