Student housing group Unite expects to forgo rent for up to 65% of beds

Unite Group said on Wednesday it would see a reduction in income for this academic year of around 16-20% as it plans to forgo rent on 43,000-46,000 beds for the summer semester due to the closure of universities and students giving up their accommodation in the coronavirus crisis.

The student housing specialist, which also said it was now fully drawn on its credit facilities and expects to qualify for Bank of England-backed financing, also made further cuts in management wages and benefits.