The value of the Unite Student Accommodation Fund rose in the second quarter – but reservation rates are down slightly on last year.
The group reported that estimated net asset value (NAV) of the fund at 30 June 2012 had increased by 3.8% to £660 million (31 March 2012: £635.6 million).
Unite said that the fund’s portfolio had seen reservations of 71% for the 2012-13 academic year – slightly down from 73% in 2011-12.
But the group reported that it had “strong rental growth” in the quarter.
The fund’s portfolio, comprising 21,280 beds in 59 UK properties, was independently valued at £1.270 billion at the end of the quarter (31 March 2012: £1.279 billion).