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Unite Group Backs Rental Growth Targets For 2019/20 And 2020/21

Unite Group plc. (UTG.L), a provider of student accommodation, said Wednesday it expects student intake in 2019/20 to be in line with the record levels seen over the past few years. It also remains confident in delivering rental growth of 3.0-3.5 percent for 2019/20 and 2020/21, including improved utilization.

The Group also expects to see growth in the University cities where Unite operates. Unite Students has achieved a strong lettings performance across its portfolio with 98 percent of bed spaces let.

In addition, Unite Group said the Competition and Markets Authority, or the CMA, has confirmed the start of its Phase 1 merger inquiry in relation to its proposed 1.4 billion pounds acquisition of Liberty Living.

The Group also remains confident of delivering the prior outlined cost synergies of 4 million pounds in 2020 and 15 million pounds p.a. from 2021.

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