Q: WHAT MAKES THE EMPIRIC ACQUISITION SIGNIFICANT? A: The purpose-built student accommodation (PBSA) sector is growing up and student demand and choices are changing. Students are seeking a more independent living experience in their second and third year. This is what makes the Empiric acquisition so exciting, as it broadens our offering and means we’re able to support students all the way through their university journey. We believe there’s a huge amount of value we can unlock from Empiric by leveraging our position as the UK’s largest PBSA provider, as well our market leading technology and operating platform. Our deep sales expertise and extensive network of international agents also gives us the opportunity to reach a much larger customer base. Q: WHAT OPPORTUNITIES DOES THE ACQUISITION CREATE FOR THE BUSINESS? A: It will enable us to attract more students across the university lifecycle and retain those who are already living with us. There are around one million students living in traditional Houses of Multiple Occupancy (HMOs) and the sector continues to face significant pressure from changes in policy and regulation. The acquisition gives us the ability to target that market in a meaningful way. The overall quality of the Empiric portfolio is very high, properties are full of character, and there’s an opportunity for us to convert some of our existing buildings into homes for second- and third-year students. The two portfolios complement each other extremely well and we’ll be able to drive operating synergies of £17 million through our best-in-class operating platform and 35 years’ worth of experience managing and operating student accommodation. We are supporting students throughout their university journey. “ Greater uncertainty around the supply and availability of privately rented homes means universities want viable alternatives for second- and third-year students.” Q&A with Katherine Grafton, Group Finance Director THE UNITE GROUP PLC Annual Report and Accounts 2025 20