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Empiric Spend £30 Million to Expand Their Presence in Manchester

Posted by Ross Jones-Morris in

Empiric have bought another student accommodation block in Manchester, and in doing so have added to their selection in the city just a month after snapping up Ladybarn House for £10.3 million.

Victoria Point is a 561-bed scheme which this week Empiric have bought for £29.5 million from MCR Property Group. The deal means that they now hold the 999 year lease on the property dating back to March 2007.

The development is spread across 6 blocks on a site of 3.5 acres, with the 561 on-site beds spread across 2, 3 and 4 bedroom apartments. Unlike many student accommodation blocks built in recent years the development also benefits from a large amount of parking spaces (197 in fact).

Chief Executive of Empiric Student Property, Paul Hadaway, explained Empiric's continued interest in Chester">ManChester as follows, “With its large student population – the third largest in the UK with 61,990 full-time students in 2014/15 according to HESA statistics – we are pleased to have made this further significant purchase in Chester">ManChester, taking our presence in the city to 765 beds."

Image courtesy of Flickr, Creative Commons