The UNITE UK Student Accommodation Fund (USAF) grew by almost 7% in 2013, the student property group has announced.
The fund, which owns and manages a portfolio of 59 student properties, was valued at £727 million at the end of 2013. That’s up from £678.5 million in 2012.
The total return for the year, including payment of income distributions, was 12.6%.
The Unite Group, which manages and holds a stake in the fund, credited growth to rising rental incomes. It said that government plans to uncap student numbers in 2015 also augured well for USAF.