Coronavirus put the kibosh on the annual tradition of freshers’ week parties, but Unite Group is still nursing a hangover.
Not only did the UK’s biggest provider of student accommodation lose out financially last year after waiving rents over the summer, but it faces pressure on revenues this year after promising tenants a 50 per cent discount in the latest lockdown.
If the persistence of the pandemic prevents undergraduates and others from physically going into college or university for another term, it’s hard to imagine it not feeling compelled to do the same thing again.
Meanwhile, the crisis depressed valuations across its property portfolio, marked down last year as a result of lost rental revenues and the emergency stamp duty holiday. The group’s shares, which
