Student lettings and management company Uni2 Rent has expanded its business with the acquisition of Nottingham West Lettings, for an undisclosed figure.
Through the acquisition, Uni2 Rent – which was founded in Nottingham in 2012 – has acquired an additional 204 student rooms across 50 properties, mostly HMOs, expanding the number of student rooms under its management to over 1,200 across the city.
Uni2 Rent’s founder and managing director Ed Henderson says: “This strategic acquisition is a firm statement of how strong the student HMO market is and has allowed us to work with more landlords to further our investment in this sector.
“Students remain at the heart of our business and the demand for our high-quality rooms and the transparent service we offer, enables us to grow and innovate. The acquisition of Nottingham West Lettings was a natural step for us as we look to further expand our business and presence in Nottingham.
“Our strategy is to look at similar deals with other businesses in the near future – the Tenant Fees Act coming into force has affected some small agencies and if any are looking to sell, we’re perfectly placed to take on further acquisitions.
“Market-wise, we have seen a five per cent rental increase across our portfolio over the last 12 months which illustrates that Nottingham continues to be a fantastic investment opportunity for landlords. We are lucky and proud to operate in such an amazing city and our letting figures outline the level of demand we continue to see for quality student accommodation.”