News / Acquisitions
Scrutiny looms over Unite’s multimillion pound takeover of rival firm
Unite’s takeover of a rival company could come under scrutiny from the UK’s competition watchdog.
The £723m acquisition of the London-based Empiric Student Property by Unite Students, agreed in August, may be investigated by the Competition and Markets Authority (CMA), which is currently gathering submissions from interested parties until September 30.
Unite, which was founded in Bristol 34 years ago, is the UK’s largest provider of purpose-built student accommodation, operating 68,000 beds across 23 towns and cities.
In the first half of the year it reported earnings of £144.2m, up from £125.3m a year earlier, reflecting strong occupancy and rental growth.
Empiric, which owns 7,685 beds across 23 locations, has focused its investment on high-demand university towns where student numbers are growing fastest.
The merger is expected to create a £10.5bn portfolio.
The deal is presented as an opportunity to consolidate the market and expand its reach in cities with Russell Group universities.
The scheme is due to complete in the second quarter of 2026.
Unite, which was founded in Bristol 34 years ago, is the UK’s largest provider of purpose-built student accommodation, operating 68,000 beds across 23 towns and cities – photo: Unite
The CMA, however, may assess whether the pairing risks reducing competition in the student housing market, where Unite already holds a dominant position.
Unite currently operates 14 buildings in the Bristol area. The new student accommodation at Freestone Island near Temple Quarter Enterprise Campus is scheduled to open in September 2026.
Unite was approached for comment.
Unite student digs at Bond Street South in Old Market – photo: Milan Perera
Main photo: Milan Perera
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