Phil White, Chairman of the Board, commented:
“2019 was another successful year for Unite, building on our strong foundations for growth. Our high-quality, well-located portfolio produced a strong year of operational performance, delivery across all of our key metrics. In addition, we leveraged our best-in-class operating platform to make the transformational acquisition of Liberty Living’s 24,000-bed portfolio. This is made possible by our value-for-money product, our customer service, highly committed people and our positive and growing reputation with students and Universities.”
- Transformative acquisition of Liberty Living for £1.4 billion
- Strong financial position with £298 million of disposals, reflecting strong investor appetite
- Earnings growth underpinned by University relationships, operating platform and development pipeline
1 The financial statements are prepared in accordance with International Financial Reporting Standards (IFRS). These financial highlights are based on the European Public Real Estate Association (EPRA) best practice recommendations and these performance measures are published as they are intended to help users in the comparability of these results across other listed real estate companies in Europe. The metrics are also used internally to measure and manage the business and align to the performance related conditions for Directors’ remuneration.*
2 2015 and 2016 EPS is based on an adjusted EPRA earnings. A full reconciliation of the financial statements to the EPRA performance measures is set out in note 2.2 of the financial statements.
* A full glossary of definitions is available on pages 235 and 236.