Unite Group PLC said Monday that it will offer student rental discounts due to the latest coronavirus lock and that more than half of its rooms are reserved for the next academic year.
The FTSE 250 student accommodation provider said students can apply for a 50% discount on their rent for up to four weeks and will be given a free four-week extension of tenancies to stay away. -summer. The company expects EPRA earnings to reduce each share by 2 pence for fiscal 2021 as a result, but said it expects to continue to comply with all debt contracts.
Approximately 57% of rooms are now sold for the academic year from 2021 to 2022, down from 64% in the same period a year earlier. Strong demand from domestic and international students is expected but a sales cycle is expected at a later date due to uncertainty over the coronavirus, the company said.
Unite said its holding portfolio at 31 December was independently valued at 2.80 billion pounds ($ 3.80 billion), down 1.8% year-on-year and up 0.3% quarterly. The company reacted to the fallout to remove the temporary lift in stamp duty thresholds for residential properties, ending March 31st.
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