Unite Students buys Edinburgh property for £24m

Student accommodation provider Unite said it had bought a 331 bed property in Edinburgh for £24m, representing an acquisition yield of 6%.

The site, located close to the University of Edinburgh's campus on Prince's Street, is 100% let for the 2017/2018 academic year, Unite said.

"The transaction supports Unite's strategy of aligning its property portfolio with high-ranking universities in the UK where student numbers are growing, and creating further earnings growth and visibility," bit said in a statement, adding that the acquisition increased its total number of beds in Edinburgh to 1,680.