Unite Group has agreed a deal to sell the academy school at its Hawthorne House development in London for £40.7m.
The disposal is in line with Unite’s business plan for the development and is part of the group’s disposal strategy, which includes the release of value from non-PBSA assets. The sale to an unnamed purchaser is priced at a 4.9% yield and represents a 2% discount to its June 2026 book value.
Unite retains ownership of the 719-bed student accommodation element of the scheme, with Hawthorne House fully let for the 2026/27 academic year.
Joe Lister, chief executive officer of Unite Group, said: “The sale of the academy school at Hawthorne House is evidence of our capital discipline and proactive capital recycling programme. We are moving at pace to further increase our alignment to the UK’s strongest universities and remain on track to deliver £300m to £400m of disposals this year.”
