ESP : Empiric buys in Hatfield
Empiric Student Property has exchanged contracts to acquire a 199 year lease on a direct-let, premium student accommodation property in Hatfield, Hertfordshire, for a consideration of £9.4m. The deal should complete on or about 17 December 2014.
The property, Curzon Point, is an operating, purpose-built student accommodation property on The Common in Hatfield. It was completed in August 2013, comprises 116 beds arranged in both individual studios and apartment configurations with communal facilities and has been fully occupied since completion. The property also includes a retail unit on the ground floor which is let to Pizza Hut on a 20 year lease. Empiric say it is situated in a good, central location and is currently the only existing private-sector direct-let scheme available to students at the University of Hertfordshire