Empiric Student property expands in Cardiff

Empiric Student Property is paying £40m to acquire Windsor house in Cardiff. The property, which is Empiric’s fourth acquisition in Cardiff, is located directly opposite the Group’s existing Summit House property on Windsor Place, in the city centre within a ten-minute walk from the University of Cardiff.  Cardiff is also home to Cardiff Metropolitan University and the University of South Wales.

The new-build student accommodation property is currently under construction and will comprise 314 beds across a mix of studios and two bed apartments, with communal facilities.  This will increase the Group’s presence in Cardiff to 519 beds, representing approximately 2% of the full-time student population in Cardiff.

The property, which will be acquired with a first year rental guarantee, is currently owned by the developer, Fusion Students, and is expected to be operational by August 2016, in time for the 2016/17 academic year.

ESP : Empiric Student property expands in Cardiff