Unite Group sells academy school at Hawthorne House, keeps student housing
Unite sells the academy school at its new Hawthorne House scheme at a 4.9% yield, retaining the 719-bed student housing block, per TradingView.
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what happened
TradingView, citing Sharecast, reports that Unite has agreed to sell the academy school inside its newly finished Hawthorne House project. The company keeps the 719-bed student housing block, which is fully leased for 2026/27 and backed by a long-term nomination deal giving the University of the Arts London access to over half the rooms.
The academy disposal carries a 4.9% yield and a 2% discount to the asset's book value at June 2026. Completion is expected shortly.
The school was among the £225m of assets under offer flagged in the Q3 trading statement, with sale proceeds first directed toward cutting borrowing. CEO Joe Lister described the deal as evidence of disciplined capital management. At 09:00 BST the FTSE 250 firm's shares were 0.13% higher at 454.60p.
why it matters
The sale supports management's target of raising between £300m and £400m from disposals this year, which matters for a heavily indebted FTSE 250 landlord. The deal is modest in size, but it shows the company's continuing effort to rotate capital toward leading university cities.
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- Unite sells academy school at newly completed Hawthorne House development — TradingView, 23 October 2026 at 08:02 UTC
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