Empiric Plans Bristol Student Development

Posted by Kristina Murkett in

A site in central Bristol has just been acquired by Empiric Student Property PLC, who will be
developing a 75-bed student accommodation asset alongside regional property developer Urban

The project, which is located a 5 minute walk away from the main University of Bristol campus, will
cost £7.87 million to complete but should be ready for the 2016/17 academic year. Empiric added
that its proximity to another 84-bed student plot, College Green, will mean that they can save costs
by combining operations and thus achieving economies of scale.

Empiric's chief executive Paul Hadaway commented that: "Bristol was one of the first cities in which
the Empiric team invested and, with a student population of some 47,000, it remains a target city for
the Group."

He also added that: "We are pleased to be working again with Urban Creation, from whom we
acquired our London Road, Southampton property. This acquisition is in line with Empiric's
investment criteria and returns profile."

Empiric seems to be going from strength to strength, as the company's stock has gained about two
percent year-to-date, and four percent on an annual basis.

Image courtesy of Flickr, Creative Commons.