Unite Students plans to redevelop landmark property

• Unite Students is to submit a planning application to redevelop Mercury Point in Southampton
• The 810-bed property would replace the existing 560-bed building, freeing up privately rented homes
• As part of the plans, the current building will close to students in summer 2025
• Unite Students has invested £90 million over the past year to upgrade its properties and improve service levels

Unite Students, the UK’s largest provider of student accommodation, is to submit a planning application to redevelop one of its key properties in Southampton.

Unite Students’ Mercury Point CGI

The new development, which will replace Mercury Point in Duke Street, will be an exciting addition to the city’s skyline, with 810 beds across two blocks connected by an elevated outdoor terrace. The increase in beds from the current 560 beds will provide the city with much-needed purpose-built student housing, freeing up privately rented homes.

To enhance the student living experience, Unite Students has invested £90million over the past year to upgrade properties across its portfolio and improve service levels, and this continues to be a key priority. In July, the business raised a further £450million from investors to help fund new developments and refurbishments of its existing portfolio.

Unite Students considered several options, including a renovation of the existing building, and has taken the decision to redevelop the property and close it to students from summer 2025, once this year’s residents have checked out.

CGI of Mercury Point

The new property will fully adhere to Unite Students’ sustainable construction framework, which aims to achieve net-zero carbon in construction and operation.

The scheme will aim to achieve a BREEAM Excellent sustainable building certification and include solar panels to generate renewal energy, air-source heat pumps for heating and hot water, and high-performance glazing to help reduce thermal losses.

Tom Brewerton, Group Development Director at Unite Students, said:

 “We’re excited about the planned redevelopment works at one of our key properties in Southampton as we work to continuously improve the student experience across our portfolio. We’ve worked closely in consultation with the council, the local community and Southampton University to develop these plans.

“We’re trusted by parents, students and universities to provide high-quality, safe and affordable accommodation and the planned increase in bed numbers will help free up privately rented homes in the city for families.”

ENDS

About Unite Students

Unite Students is the UK’s largest owner, manager, and developer of purpose-built student accommodation (PBSA) serving the country’s world-leading higher education sector. We provide homes to 68,000 students across 151 properties in 23 leading university towns and cities. We currently partner with over 60 universities across the UK.

Our people are driven by a common purpose: to provide a ‘Home for Success’ for the students who live with us. Unite Students’ accommodation is safe and secure, high quality, and affordable. Students live predominantly in en-suite study bedrooms with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi.

We are committed to raising standards in the student accommodation sector for our customers, investors, and employees. Our Sustainability Strategy includes a commitment to become net zero carbon across our operations and developments by 2030. It includes our Sustainable Construction Framework, which outlines our approach for reducing embodied carbon.

Founded in 1991 in Bristol, the Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange. For more information, visit Unite Group’s corporate website www.unitegroup.com or the Unite Students’ site www.unitestudents.com.