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Unite hindered by student exodus

The student accommodation developer offered refunds for the summer term
Unite hindered by student exodus

The UK’s student population seized upon Unite Group’s (UTG) offer of rent refunds for the summer term as coronavirus threatened to sweep through accommodation blocks. Unite expects income for the 2019/20 academic year to drop by around 15 per cent, with a £139m valuation loss driving a collapse in the student landlord’s interim pre-tax profits. It anticipates losing 10 to 20 per cent in revenue for the upcoming academic year.

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