Unite Group (UTG.L): 2Q trading update: 86% of beds booked for AY26/27, guidance reaffirmed

Research evidence excerpt

Unite Group (UTG.L): 2Q trading update: 86% of beds booked for AY26/27, guidance reaffirmed

Equity Research

8 July 2026 | 7:03AM BST

Unite Group (UTG.L): 2Q trading update: 86% of beds booked for

AY26/27, guidance reaffirmed

Unite released a 2Q trading and valuation update today (July 8). Unite has booked Rebecca Parker

+44(20)7051-6646 |

86% of beds for AY 2026/27 (2025/26: 85%). This was compromised of 53% of beds rebecca.x.parker@gs.com

Goldman Sachs International

let under nomination agreements and 33% through direct-let (2025/26: 58% and

Jonathan Kownator

27% respectively). Guidance for adjusted earnings of 41.5-43.0p remains unchanged +44(20)7051-2974 |

for FY2026. jonathan.kownator@gs.comGoldman Sachs International

Kuber Sood, CFAAcross the Unite Students portfolio, whilst guidance for like-for-like income growth +1(332)245-7812 | kuber.sood@gs.com

of 0-2% remains unchanged, Unite now expects this to be driven by higher Goldman Sachs India SPL

occupancy of 94-96% and lower rental growth of 1-2% (previously: lower end of

93-96% occupancy and 2-3% rental growth).

Hello Student bookings are tracking at 71% for AY 2026/27 (2025/26: 61%), with

Unite commenting that there has been strong sales performance in recent weeks

reflecting enhancements to Empiric’s sales platform and targeted sales incentives.

Occupancy for AY 2026/27 is now expected to be at least 87% (previously: 85%),

and rental growth is expected to be in line with Unite’s portfolio.

Unite commented that they are on track to deliver the £300-£400m disposal target

for FY26, given the £130m of disposals completed and a further £500m of assets

being actively marketed over a dozen of active processes. Unite stipulated that a

number of transactions are at advanced stages which they expect to complete in the