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Empiric Buy Two Student Developments for £23 Million

Posted by Ross Jones-Morris in

After buying going on somewhat of a buying-spree in 2015, Empiric Student Property have snapped up two new student accommodation developments in Reading and Chester">ManChester to end the first quarter of 2016 strong.

The first development is a £13 million, 83-bed property in Reading called Saxon Court. They have now finalised the purchase from Bywater Properties after the block opened, fully-let, for the 2015-16 academic year. The property is reportedly letting well for next year too.

The second block, Ladybarn House, has been purchased from Accrue Capital for £10.3 million, meaning they now hold the leasehold on 117 new beds in Manchester too. The block was also fully let for the current academic year with Empiric forecasting strong let going into 2016-17 also.

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