StockMarketWire.com - Student accommodation developer Unite Group said the value of its Unite UK student accommodation fund increased by 1.2% in the first quarter to £2.32bn.

The portfolio comprised 25,218 beds in 71 properties across 23 university towns and cities in the UK.

London student accommodation joint venture was independently valued at £1.20bn, up 2.5% in the quarter.

That investment portfolio comprised 8,477 beds across 13 properties in London and Aston Student Village in Birmingham.

The increase in valuations was driven by rental growth and an average two basis points of yield compression in USAF and six basis points of yield compression in LSAV.

The overall USAF portfolio was valued at a blended yield of 5.4% and LSAV's portfolio at 4.6%.



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