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PRIVACY
Commercial Property

Student accommodation portfolio sold for more than 拢300m

The portfolio includes properties in Sheffield, Reading, Leicester, Bedford, Liverpool, Birmingham, Bristol and Leeds

Unite Students has properties across the country(Image: Unite Group)

A portfolio of 11 student accommodation properties with almost 4,500 beds has been sold for more than £300m.

Unite Students has sold the buildings to an affiliate of Lone Star Funds for £306m.

The portfolio includes properties in Sheffield, Reading, Leicester, Bedford, Liverpool, Birmingham, Bristol and Leeds.

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A Unite Students statement said: "The disposal is part of the group's proactive portfolio management strategy, resulting in increased alignment to high and mid-ranked universities that deliver the greatest quality and value to students.

"It also sees the group exit certain smaller, less operationally efficient assets in cities such as Bristol and Leeds."

Completion is expected on March 15 on four of the properties while the remaining sites will be sold on August 31.