Empiric Eyes a Bright Future as it Looks to Grow Year on Year Into 2019

Posted by Ross Jones-Morris in

Empiric Student Property has announced year on year portfolio growth, as well as saying it experienced a strong financial performance in 2015.

After several major acquisitions in 2015 they claim their portfolio is up £110.4 million from £251.4 million in December 2014 to £361.7 million in December 2015. They also claimed a gross annual income from their assets of £25.1 million for 2015, up from £8.4 million in 2014.

They have attibuted this performance to investment in a market that is becoming "increasingly vibrant" after student cap numbers were removed. It has also said that its increased investment was due to "limited competition" in the cities in which it wished to invest.

To take full advantage of the current climate Empiric is looking to grow its portfolio to 10,000 by June 2019. To help it achieve this target the company is planning to raise £90 million by issuing 165 million new shares over the next 12 months.

Image courtesy of Flickr, Creative Commons