Overview
Empiric Student Property has an investment objective to provide Shareholders with regular, sustainable and growing long-term dividends (which it will seek to grow at least in line with the RPI inflation index) together with the potential for capital appreciation over the medium to long term.
Empiric Student Property is focused on investing in, and developing, high quality self-contained residential accommodation in locations where the Executive Directors believe attractive opportunities exist for the Company to exploit demand for student residential accommodation at the higher end of the quality scale. To deliver the high quality and high-end experience, the individual sizes of the assets are generally expected to be between 50 to 200 beds. In addition, each property will generally have:
- studios and 1 – 3 bedroom apartments;
- generous space per student bed;
- all rooms with en-suite bathroom and kitchen facilities; and
- communal facilities to typically include: a cinema room, study rooms, a gym and break-out areas
you can access the company’s website here
Fundamentals
Price
Research History
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22 Jan 2024 10 min read
QuotedData’s Real Estate Annual Review – 2023
Real Estate Annual Review Kindly sponsored by abrdn Things can only get better The real estate sector endured a tough 2023, with much of the year characterised by falling values amid the high interest rate landscape. Values have since stabilised across sub-sectors. Optimism returned in the final couple of months of the year, on promising […]
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17 Oct 2023 8 min read
QuotedData’s Real Estate Quarterly Review – Third Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Chinks of light It has been another quarter of pain for real estate investment trusts (REITs) and listed property companies, with share price weakness continuing and average falls of 13.7% across the sector (as shown in the chart to the right). There are chinks of light appearing […]
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13 Oct 2023 12 min read
QuotedData’s Real Estate Monthly Roundup – October 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data September’s biggest movers in price terms are shown in the charts below. Investor sentiment towards property stocks continues to wane, with the median share price of REITs and listed property companies down another 2.4% over the month of September – and 14.8% in the year to […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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17 min read
QuotedData’s Real Estate Monthly Roundup – September 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data August’s biggest movers in price terms are shown in the charts below. The property sector remains in a state of limbo as investors await signs that interest rates have peaked. The median share price of REITs and listed property companies was down 2.4% over the month […]
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19 Jul 2023 9 min read
QuotedData’s Real Estate Quarterly Review – Second Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Discounted indiscriminately Stubbornly high inflation in the UK has raised the prospect of higher for longer interest rates, with the base rate hitting 5.0% in the UK dashing any hopes of a recovery in commercial property values for the foreseeable future. This negative outlook was reflected in […]
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25 Apr 2023 8 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Headwinds mount up The headwinds facing commercial real estate continued to mount up in the first quarter of 2023, reflected in an 8.9% average share price fall across the sector. Already reeling from the impact of higher interest rates on valuations, the collapse of Silicon Valley Bank […]
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06 Apr 2023 13 min read
QuotedData’s Real Estate Monthly Roundup – April 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks tumbled further in March as stubborn inflation and a further interest rate hike was announced by the Bank of England. The median average share price fall across the sector was 7.9%. Perhaps […]
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82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
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24 Jan 2023 10 min read
QuotedData’s Real Estate Annual Review – 2022
Real Estate Annual Review Kindly sponsored by abrdn The year the rug was pulled out 2022 will be remembered as the year that the rug was pulled from under the property sector. Having benefitted from decades of low interest rates, which had fuelled debt-ladened deals and piqued the appetite of global investors looking for more […]
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05 Jan 2023 11 min read
QuotedData’s Real Estate Monthly Roundup – January 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data December’s biggest movers in price terms are shown in the charts below. 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however. […]
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14 Oct 2022 8 min read
QuotedData’s Real Estate Quarterly Review – Third Quarter 2022
Real estate quarterly report Kindly sponsored by abrdn Choppy waters ahead High interest rates is a killer for real estate, and so the chancellor’s disastrous ‘mini budget’ at the end of September – which spooked gilt markets and saw interest rate forecasts for next year top 6% – had a catastrophic impact on the listed […]
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07 Sep 2022 11 min read
QuotedData’s Real Estate Roundup – September 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data August’s biggest movers in price terms are shown in the charts below. AIM-listed small cap fund manager and investor First Property Group tops the list of best performing property companies in August. It was the only company to see a double-digit rise in its share price, […]
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12 Apr 2022 7 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2022
Real Estate Quarterly Review Kindly sponsored by Abrdn Value to be found in topsy-turvy market The first three months of 2022 have been full of significant events. Investor caution followed Russia’s invasion of Ukraine and put paid to a London-listed property company with a portfolio of Russian assets (see page 6 for details). The cost-of-living crisis […]
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06 Apr 2022 15 min read
QuotedData’s Real Estate Roundup – April 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks generally rallied in March, perhaps due to the relative inflation hedge they can provide. There were two outliers in Dublin office specialist Hibernia REIT and small-cap South East of England landlord McKay […]
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09 Mar 2022 11 min read
QuotedData’s Real Estate Roundup – March 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the charts below. The geopolitical uncertainty caused by the Russian invasion of Ukraine has hit markets hard. On the whole, the property sector suffered losses during February, but there were a few companies that saw […]
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06 Dec 2021 13 min read
QuotedData’s Real Estate Roundup – December 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the charts below. November ended under a cloud of uncertainty, with the discovery of the Omicron coronavirus variant threating a return of restrictions that have wreaked havoc in the property sector over the past two […]
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09 Sep 2021 9 min read
QuotedData’s Real Estate Roundup – September 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. Traditionally a quiet month, August was anything but for property companies. While takeovers, IPO activity and large investment deals dominated the headlines, Tritax Big Box REIT continued its impressive performance. After reporting […]
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06 Aug 2021 10 min read
QuotedData’s Real Estate Roundup – August 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data July’s biggest movers in price terms are shown in the chart below. It was no surprise that GCP Student Living topped the table for best performing property companies in July after it received a takeover bid 30% above its share price during the month. […]
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09 Jul 2021 10 min read
QuotedData’s Real Estate Roundup – July 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data June’s biggest movers in price terms are shown in the chart below. In a month when Boris Johnson announced the easing of restrictions would be pushed back as COVID cases rose, only a handful of property companies saw share price gains. Topping the list […]
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14 Apr 2021 11 min read
QuotedData’s Real Estate Roundup – April 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data March’s biggest movers in price terms are shown in the chart below. Drum Income Plus REIT saw its share price rally 75% in March following the announcement that its board was undertaking a strategic review to consider the future of the company, which it […]
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22 Jan 2021 12 min read
QuotedData’s Real Estate Annual Review – 2020
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Riding out the COVID rollercoaster The 2020 rollercoaster saw more downs than ups and at times felt like a pandemic induced freefall. Lockdowns, tiers and plenty of U-turns meant investing in property was not for the faint hearted. Positivity returned at the end of the […]
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17 Dec 2020 12 min read
QuotedData’s Real Estate Roundup – December 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the chart below. The eagerly awaited news of a successful vaccine candidate came at the start of November, boosting the stock market. Property companies that had seen their share price battered over the past eight […]
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12 Nov 2020 9 min read
QuotedData’s Real Estate Roundup – November 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. October finished with the threat of a second lockdown looming over the UK as COVID-19 cases continued to rise. However, this did not dampen demand for shares in some of the companies […]
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16 Oct 2020 8 min read
QuotedData’s Real Estate Quarterly Review – Q3 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments Toughing it out It has been another challenging quarter for the real estate sector as the COVID-19 pandemic continues to take its toll. The economy bounced back in the early part of the quarter after the national lockdown was lifted, while government schemes such as […]
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09 Oct 2020 10 min read
QuotedData’s Real Estate Roundup – October 2020
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10 Sep 2020 8 min read
QuotedData’s Real Estate Roundup – September 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. There were some interesting price rises during the month of August as investors’ search for returns took them to property companies that have seen their share prices severely depressed during the Covid-19 […]
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13 Aug 2020 9 min read
QuotedData’s Real Estate Monthly Roundup – August 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data July’s biggest movers in price terms are shown in the chart below. A number of REITs and property companies saw big share price gains over the month of July as covid-19 restrictions started to ease across the UK and greater economic stimulus was revealed. […]
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07 Jul 2020 12 min read
QuotedData’s Real Estate Roundup – July 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data June’s biggest movers in price terms are shown in the chart below. Uncertainty caused by the covid-19 pandemic continued to weigh on property stocks in June and we had the first real casualty in Intu Properties, which collapsed into administration. A number of companies […]
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08 Jun 2020 7 min read
QuotedData’s Investment Companies Roundup – June 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over May: GCP Infrastructure – […]
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07 May 2020 11 min read
QuotedData’s Real Estate Roundup – May 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data April’s biggest movers in price terms are shown in the chart below. Following two months of heavy falls as the covid-19 pandemic took hold and the UK was put on lockdown, many property companies saw a bounce in their share price in April, although […]
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07 Apr 2020 11 min read
QuotedData’s Real Estate Roundup – April 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data March’s biggest movers in price terms are shown in the chart below. Property stocks took a hammering in March as the covid19 pandemic took hold. The UK was put on lockdown to stop the spread of the coronavirus resulting in the enforced closure of […]
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30 Jan 2020 12 min read
QuotedData’s Real Estate Annual Review – 2019
Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]
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18 Sep 2019 7 min read
QuotedData’s Real Estate Roundup – September 2019
Real Estate Roundup Performance data August’s biggest movers in price terms are shown in the chart below. The month of August has traditionally been a quiet period for news and announcements in the property sector, and this year is no different. Central London landlord Shaftesbury, which owns Carnaby Street as well as huge swathes of […]
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11 Sep 2019 3 min read
QuotedData’s economic roundup – September 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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05 Apr 2019 4 min read
QuotedData’s economic roundup – April 2019
Kindly sponsored by Polar Capital Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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10 Nov 2017 1 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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16 May 2017 1 min read
QuotedData’s economic round up – May 2017
QuotedData’s economic round up – May 2017 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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14 Feb 2017 1 min read
QuotedData investment companies roundup – February 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2017. Kindly sponsored by Baillie Gifford. February Investment Companies Roundup
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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2016. december-investment-companies-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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17 Oct 2024 3 min read
Empiric Student Property raises £56.1m for new acquisitions and refurb projects
Empiric Student Property has raised £56.1m in a placing and retail offer as it looks to take advantage of favourable market conditions for the student accommodation sector. A total of 59,686,950 new ordinary shares representing 9.9% of the company’s existing share capital have been placed at a price of 93p, raising proceeds of £55.5m. In […]
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15 Aug 2024 1 min read
QuotedData’s morning briefing 15 August 2024 – MPO, ESP, MPLF
In QuotedData’s morning briefing 15 August 2024: Macau Property Opportunities (MPO) has seen a 12.2% slide in its NAV over the quarter ended 30 June 2024. It blames local developers discounting properties to boost their cash flow. It says that it continues to comply with all banking covenants and Loan to Value ratios. Empiric Student […]
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14 Mar 2024 1 min read
Empiric Student Property delivers strong rental growth
Empiric Student Property has delivered a strong set of results with earnings growth of 17.6% and a net asset value (NAV) uplift of 4.6%. The company’s EPRA earnings per share jumped to 4.0p (from 3.4p) in the year to 31 December 2023, allowing it to increase its dividend by 27% to 3.5p. Revenue was up […]
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18 Aug 2023 1 min read
QuotedData’s weekly news update 18th August 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Thomas Lloyd Energy Impact (0:57) • Riverstone Energy (18:40) • Bluefield Solar (22:25) • NextEnergy Solar (27:16) • Ediston Property (30:16) • Empiric Student […]
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2 min read
Empiric Student Property seeks joint venture partner to expand
Empiric Student Property is exploring bringing on board a joint venture partner to grow its portfolio of student accommodation. The company, which reported strong half-year results yesterday, said in an analyst briefing that it had engaged PwC to look at options to expand its portfolio. Chief executive Duncan Garrood said that traditional methods of growing […]
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17 Aug 2023 2 min read
QuotedData’s morning briefing 17 August 2023 – ABD, AAIF, ESP, EPIC
In QuotedData’s morning briefing 17 August 2023: In its final set of annual results (before it is absorbed by Asia Dragon), abrdn New Dawn (ABD) returned -6.8% in NAV terms for the 12 months ended 30 April 2023, and -7.3% in share price terms, both lagging the -5.2% return generated by the benchmark MSCI AC […]
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30 Jun 2023 3 min read
QD view – University challenge
As the UK continues to grapple with high inflation and interest rates, investing in property is not for the faint-hearted. One of the strongest options, however, appears to be student accommodation. The fundamentals supporting growth in the sector are striking. University applications continue to rise – both from domestic students and more rapidly from overseas […]
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16 Mar 2023 2 min read
Good year for Empiric Student Property
Empiric Student Property has posted a 8.2% uplift in EPRA net tangible assets (NTA) in annual results to the end of 2022. The student accommodation specialist said EPRA NTA was 115.4p at the end of the year, up from 106.7p. This was in part due to a 7.3% like-for-like increase in the value of its […]
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12 Dec 2022 3 min read
QuotedData’s morning briefing 12 December 2022
In QuotedData’s morning briefing 12 December 2022: SME Credit Realisation Fund (SCRF) has announced that it has completed its asset realisation strategy, initiated in 2019 following consultation with shareholders accounting for over two-thirds of the register, through the sale of all of its remaining UK and continental European (Germany and Netherlands) loans to a third-party […]
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11 Aug 2022 1 min read
QuotedData’s morning briefing 11 August 2022
In QuotedData’s morning briefing 11 August 2022: Princess Private Equity (PEY) notes that Kohlberg & Company is acquiring a 50% stake in United States Infrastructure Corporation, the leading North American provider of utility location services. Clients of Partners Group including Princess will retain a 50% co-lead interest. The transaction values Princess’ stake at approximately $34.4m versus […]
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15 Feb 2022 1 min read
Empiric Student Property buys £19m digs in Bristol
Empiric Student Property has acquired a new 92-bed purpose-built studio asset in Bristol city centre for £19.0m, reflecting a net initial yield of 4.75%. The property, which was completed in September 2021, has 100% of the beds let for the current academic year. Empiric has two other operational assets in Bristol (159 beds), with a […]
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13 Aug 2021 2 min read
QD view – More property companies in crosshairs of private equity
The bumper spell of merger and acquisition (M&A) activity in the UK listed real estate sector has some way to play out yet, with several companies still looking like attractive targets. The share prices of many property companies have yet to return to pre-pandemic days – perhaps understandably when rent collection rates are still below […]
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12 Aug 2021 1 min read
QuotedData’s morning briefing 12 August 2021
In QuotedData’s morning briefing 12 August 2021: Riverstone Credit Opportunities (RCOI) says its end June NAV was $1.03, unchanged from end December 2020. It has declared dividends totalling 3.5 cents for the first six months of the year. It concluded four deals over the first half of 2021, two of which – a water infrastructure company (Blackbuck […]
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07 Jun 2021 2 min read
QuotedData’s morning briefing 7 June 2021
In QuotedData’s morning briefing 7 June 2021 – Augmentum Fintech (AUGM) says that it continues to see a strong pipeline of investment opportunities. It is considering the issue of new ordinary shares to fund additional investments, with any potential fundraise likely to follow the publication of an updated NAV. Further details will be announced in […]
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10 Sep 2020 2 min read
QuotedData’s morning briefing 10 September 2020
In QuotedData’s morning briefing 10 September 2020: Capital & Counties has sold a block of property, that it has dubbed “the Wellington block”, for £76.5m. The block comprises 25-31 Wellington Street, 23 Wellington Street, 15 Exeter Street, 12 & 14 Burleigh Street and Burleigh House, currently providing approximately 66,000 square feet of lettable space. The buyer […]
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14 Aug 2020 2 min read
University challenge may come good
On the same morning that the farcical A-level results were announced this week, student accommodation specialist Empiric Student Property released half-year numbers that revealed bookings for the upcoming academic year was at 65%, compared to 85% at the same period last year. On first look that does seem a startling drop, but given the disruption […]
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13 Aug 2020 1 min read
Empiric Student Property hit by decline in international students
A decline in international student bookings has left Empiric Student Property with just 65% of rooms booked for the 2020/21 academic year, compared to 85% at the same point last year. The company, which owns 95 student accommodation properties across the UK with 9,401 beds, reported half-year results today in which EPRA net asset value […]
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26 Jun 2020 1 min read
Empiric Student Property appoints chief executive
Empiric Student Property, the owner and operator of student accommodation across the UK, has appointed a new chief executive. It has hired Ten Entertainment Group’s current chief executive Duncan Garrood to the role. As well as Ten Entertainment Group, which is the UK’s second largest operator of family entertainment centres, Garrood has also held the […]
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06 May 2020 1 min read
Empiric Student Property expects £8m hit on income
Empiric Student Property has said it expects a reduction of income for the current academic year of up to 12% or £8m, in a trading update this morning. The loss of income from students being released from their rent obligations for the summer semester is below the company’s worst-case scenario of a £21m reduction in income. […]
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31 Mar 2020 1 min read
Empiric Student Property suspends dividend
Empiric Student Property has suspended payment of its dividend to cover an expected hit on income due to the coronavirus pandemic. The group said in a worst case scenario it could lose up to £21m of revenue this academic year, as it allows students to exit their rental agreements early due to the enforced lockdown. […]
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18 Mar 2020 1 min read
Empiric Student Property chief executive to step down
Empiric Student Property’s chief executive Tim Attlee will step down from the role in June 2020. The company made the announcement alongside full year results today. It said Attlee would remain in the position until the end of June 2020 and the board would commence an immediate search for his successor. Attlee co-founded and helped […]
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1 min read
Empiric Student Property’s international student bookings not impacted by Covid-19
Student accommodation provider Empiric Student Property said it had so far not seen a “negative impact on reservations from international students for the 2020/21 academic year” as a result of the Covid-19 pandemic. In full year results for 2019, the group said as of today, bookings for the 2020/21 academic year were “very much in […]
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26 Feb 2020 1 min read
Blackstone buys student accommodation company in £4.7bn deal
US private equity giant Blackstone has backed the UK student property sector with the £4.7bn acquisition of a student accommodation company. It has agreed a deal to buy IQ Student Accommodation from Goldman Sachs and Wellcome Trust, in a deal that is said to be the UK’s largest-ever private real estate transaction. IQ owns and […]
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31 Oct 2019 1 min read
Empiric Student Property anticipating 10% increase in student revenues
Empiric Student Property anticipating 10% increase in student revenues – Empiric Student Property (ESP) has provided a trading update: ESP say that student revenue is expected to be approximately 10% up in full year 2019 compared to full year 2018, driven by an increase in the number of beds, increased occupancy and an increase in revenue […]
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20 Mar 2019 2 min read
2018 a year of progress for Empiric Student Property
2018 a year of progress for Empiric Student Property – Empiric Student Property (ESP) has announced full year results to 31 December 31 2018. These re-affirm the fundamentally strong shape UK higher education is in on the demand side. Current occupancy stands at 97%, up 5% from year-end 2017. Key highlights from the fund’s financial […]
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21 Mar 2018 2 min read
Empiric Student Property NAV slips on over distribution
Empiric Student Property NAV slips on over distribution – Over the course of 2017, Empiric Student Property’s EPRA NAV fell from 106.2p to 104.5p. The portfolio value at 31 December 2017 was £890.1m. EPRA earnings per share rose from 0.4p to 0.7p, still well short of the 5.55p of dividends that they declared (and their 6.1p target) and this hit […]
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16 Mar 2018 1 min read
Empiric Student Property reports death of chairman
Empiric Student Property reports death of chairman – The Board of Empiric Student Property plc says that it is deeply saddened to announce that its non-executive chairman has died. Stuart Beevor, a non-executive director of the company, has agreed to assume the role of acting non-executive chairman with immediate effect. Mr Beevor said: “We are all deeply […]
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12 Feb 2018 1 min read
Empiric buys Southampton’s Emily Davies Hall
Empiric buys Southampton’s Emily Davies Hall – Empiric Student Property has acquired the freehold of a 240 bed student accommodation property in Southampton, the Emily Davies Halls of Residence, for GBP10.6 million (excluding costs). The property comprises affordable student accommodation configured in three and four bed apartments with 65 commercially let car parking spaces. The […]
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12 Dec 2017 1 min read
Empiric Student Property parts ways with chief executive
Empiric Student Property parts ways with chief executive – the board of Empiric Student Property plc, has announced that Paul Hadaway, the company’s chief executive officer, has received notice to terminate his employment with the Company. Accordingly, Mr Hadaway has ceased to be a director of the company with immediate effect. Tim Attlee, co-founder and chief […]
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17 Oct 2017 1 min read
Empiric Student Property makes rare sale
Empiric Student Property makes rare sale – The Board of Empiric Student Property plc says that the group has exchanged contracts to sell the freehold of a site in Forthside Way, Stirling for GBP2.0 million (excluding costs). The disposal is expected to complete on 27 November 2017. This site was acquired by the group in August […]
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14 Aug 2017 1 min read
Empiric funding 166 bed development in Edinburgh
Empiric funding 166 bed development in Edinburgh – The Board of Empiric Student Property says that the Group has acquired land with planning permission and entered into a forward funded agreement for a 166 bed premium student accommodation development in Edinburgh for a total funding commitment of GBP26.56 million (excluding costs). The Property will be valued post-completion and […]
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09 Aug 2017 1 min read
Investment Trust Insider on new issues
James Carthew: the relentless rise of new income funds Investors are still pouring money into UK property, despite last year’s post-referendum jitters. If we look at the money raised by the investment companies sector in July, I reckon that of £1.2 billion raised, about £500 million was destined for UK property funds. This included new […]
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07 Aug 2017 2 min read
Empiric will convert St Mary’s hospital Bristol to student housing
Empiric will convert St Mary’s hospital Bristol to student housing – The Board of Empiric Student Property has announced that the Group has acquired, on an unconditional basis, the freehold of the former St Mary’s Hospital in Bristol for GBP8.08 million (excluding costs). The current site comprises a 3,400 sq m former hospital building and 65 […]
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03 Aug 2017 2 min read
Empiric buys Hahnemann building in Liverpool
Empiric buys Hahnemann building in Liverpool – The Board of Empiric Student Property has announced that the Group has exchanged contracts to acquire the freehold of the Hahnemann Building (the “Property”) in Liverpool for GBP10.8 million (excluding costs). The acquisition is expected to complete in October 2017. The Hahnemann Building is a Grade II listed building […]
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06 Mar 2017 1 min read
Empiric Student Property agrees a new unsecured £10m loan facility
Empiric Student Property has announced that it has agreed a new unsecured term loan facility of £10 million with First Commercial Bank Limited. The Facility is available to draw down in full over the next 12 months. It is repayable three years from the date of agreement with an all-in cost of 2.15% per annum. […]
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17 Jan 2017 1 min read
Empiric Student Property acquires Foss Studios in York for £23.3m
Empiric Student Property (Empiric) has announced that it has acquired the freehold of a 220 bed student accommodation scheme, Foss Studios, in York for £23.3m (excluding costs). Empiric says that Foss Studios was completed for the 2015/16 academic year and comprises 220 large, well specified, studio rooms across three purpose built buildings. The scheme is […]
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28 Nov 2016 1 min read
Empiric Student Property is investing in Leicester
Empiric Student Property has entered into three forward funding arrangements with a Leicester-based property company to develop a total of 170 beds in Leicester across three properties for an aggregate investment of GBP15.975 million. 134 New Walk and 140-142 New Walk are located immediately to the west and east, respectively, of the Group’s recently acquired standing […]
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07 Oct 2016 2 min read
Empiric buys five more properties
The Board of Empiric Student Property plc has acquired the freeholds of five operating properties, one in Exeter, two in Leicester and two in Portsmouth, with a total of 464 beds, for an aggregate cash consideration of GBP26.69 million (excluding acquisition costs) from assets managed by LaSalle Investment Management. All the properties were fully let […]
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14 Sep 2016 2 min read
Empiric Student Property doubles in size
Empiric Student Property has announced its annual results for the year ended 30 June 2016. The company grew its portfolio significantly during the year, from £251.3m to £523.9m, funded by £286.4m of gross equity proceeds and a further £120m of debt. As a result, the company says that its portfolio of purpose-built student accommodation increased […]
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02 Sep 2016 1 min read
Empiric Student Property to forward fund ‘The Emporium’ scheme, Birmingham, for £19.53m
Empiric Student Property (Empiric) has announced that it has entered into a forward funding arrangement, with Linford CZero Ltd, to develop a 185 bedroom scheme, The Emporium, in central Birmingham for a total investment of £19.53m. The scheme is expected to be delivered in spring 2018, in time for the 2018/19 academic year and is […]
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01 Sep 2016 1 min read
Empiric Student Property acquires Pavilion Court in Canterbury for £9.2m
Empiric Student Property has announced that it has acquired the freehold of a 79 bed student accommodation property, Pavilion Court (pictured), in Canterbury, for £9.2m (excluding acquisition costs). The property, which is the company’s first acquisition in Canterbury, comprises 79 beds in a mix of studios and one, two, three and four-bed apartments. It was […]
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16 Aug 2016 2 min read
Empiric expands in London and Exeter
Empiric Student Property has acquired the freeholds of three operating properties, two in London and one in Exeter, with a total of 213 beds, for an aggregate cash consideration of GBP21.5 million (excluding acquisition costs) from CBRE Global Investors. Isca Lofts, Exeter – GBP4.73 million Isca Lofts, Longbrook Street, Exeter, is a direct-let student accommodation […]
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19 Jul 2016 1 min read
Empiric Student Property puts financing in place for five forward funded assets
Empiric Student Property has announced that it has agreed a new £32.8m loan facility with AIB Group (UK). The Facility, which is secured against a portfolio of five forward funded assets, is a development loan which will be drawn down in agreed stages. The practical completion of all five forward funded assets expected by July […]
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18 Jul 2016 1 min read
Empiric Student Property acquires its fifth property in Bath
Empiric Student Property has announced that it has acquired the freehold of a 31 bed student accommodation property, 2 Oolite Road, in Bath for £2.6m (excluding costs). The property is the fifth student accommodation property in Bath and it has been acquired from IESIS Limited, an established local developer and operator of purpose-built student accommodation […]
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09 Jun 2016 1 min read
Empiric Student Property acquires Pennine House, Leeds, for £17.8m
Empiric Student Property has announced that it has acquired Pennine House, a 127 bed student accommodation property in Leeds, for £17.8 million (excluding costs). The property comprises a mix of studios and two-bed en-suite apartments across eight floors together with communal facilities including a gym, cinema room, study rooms and a common room. The property […]
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31 May 2016 1 min read
Empiric buys in Leicester
The Board of Empiric Student Property has announced that the Group has acquired the freeholds of three operational, direct-let, premium student accommodation properties in Leicester, comprising a total of 106 beds, for a consideration of GBP8.8 million (excluding acquisition costs). Bede Park (completed in 2012) is a conversion of a 1900s two storey industrial unit, with […]
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17 May 2016 1 min read
Empiric Student Property signs nomination agreement for Maritime Studios in Falmouth
Empiric Student Property has announced that it has entered into a nomination agreement with Falmouth Exeter Plus, which delivers all shared services, including accommodation, to the students of Penryn Campus, in respect of the Group’s existing 137 bed operating property in Falmouth, Maritime Studios (pictured). The duration of the Nomination Agreement is for three years […]
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04 May 2016 1 min read
Empiric buys Exeter development site
Empiric Student Property says it has exchanged contracts to acquire, subject to planning, the freehold of a site on Well Street, Exeter, at a cost of £1.5 million (excluding fees). The Company is in the process of applying for planning permission with Exeter City Council for a premium student accommodation development on the site, comprising […]
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29 Apr 2016 1 min read
Empiric Student Property acquires Falmouth development site
Empiric Student Property has announced that they haves exchanged contracts to acquire, subject to planning, the freehold of a site on Pendennis Rise, Falmouth, at a cost of £2.3 million (excluding fees). The company is in the process of applying for planning permission with the Cornwall County Council for a 287 bed premium student accommodation development […]
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27 Apr 2016 1 min read
Empiric Student Property to forward fund Europa House development in Portsmouth
Empiric Student Property has announced that it has acquired a site, on a 199 year lease, and entered into a forward funding arrangement in relation to a development in Portsmouth, known as Europa House (pictured). The company say that the project comprises a 242 bed redevelopment to create a new premium student accommodation scheme, for […]
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25 Apr 2016 2 min read
Empiric buys accommodation blocks in Manchester and Southampton
Empiric Student Property has acquired the long leasehold (999 years from March 2007) of a 561 bed scheme in Manchester for £29.5m. Victoria Point, Manchester was constructed in 2009 by the vendor as a private residential scheme comprising apartments and duplexes across six separate blocks of accommodation on a 3.5 acre site. The property has […]
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06 Apr 2016 2 min read
Empiric enters into a nomination agreement with the University of Bath and secures new loan facility
Empiric Student Property has announced that it has entered into a nomination agreement with the University of Bath in respect of three operating properties and two forward committed assets in Bath. The three operating properties are Piccadilly Place (pictured), Canal Bridge and Widcombe Wharf, whilst the two forward committed assets (due for completion in September 2016) […]
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01 Apr 2016 1 min read
Empiric makes first Oxford acquisition – Stonemason House for £4.5m
Empiric Student Property has announced that it has acquired the freehold of a 44 bed student accommodation property, Stonemason House, in Oxford for £4.5m (excluding costs). Stonemason House, which is the company’s first acquisition in Oxford, was built in 2011 as a new build scheme in time for the 2011/12 academic year. The property comprises […]
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31 Mar 2016 2 min read
Empiric buys into development in York
The Board of Empiric Student Property has announced that the group has acquired the land and entered into a forward funded development agreement for a 115 bed, premium student accommodation development in York for a total funding commitment of £11.1m. The property, Empiric’s first in York, is located between York city centre and the University of […]
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01 Mar 2016 1 min read
Empiric Student Property looking to hit 10,000 bed target ahead of schedule
Empiric Student Property has published its interim results covering the six months ended 31 December 2015. The Group’s basic EPRA earnings per share for the period were 0.70p per share (31 December 2014: 0.11p per share). The basic EPRA NAV per share as at 31 December 2015 was 105.6p (30 June 2015: 103.4p). They have […]
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24 Dec 2015 1 min read
Empiric acquires Ayton House in St Andrews
Empiric Student Property has announced that it has acquired the freehold of Ayton House, a 241 bed, student accommodation property in St Andrews for £26.0m (excluding costs). Ayton House is Empiric’s first acquisition in St Andrews and was newly completed for the 2015/16 academic year. The property, which is located in a prominent position in […]
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14 Dec 2015 1 min read
Empiric to acquire Provincial House development in Sheffield for £11m
Empiric Student Property has announced that it has exchanged contracts to acquire Provincial House, a 107 bed forward funded development in Sheffield, for a total investment of £11m. Empiric is to acquire the freehold to the site, which is located in central Sheffield, immediately next to the University of Sheffield’s north campus. The existing property […]
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13 Nov 2015 1 min read
Empiric Student Property to acquire 155 George Street in Glasgow
Empiric student property has announced that it has exchanged contracts, subject to planning, on a forward funded development in Glasgow. The scheme, known as 155 George Street (pictured), is an 89 bed premium student accommodation development. The total investment is £9.6m, which is to be invested in stages against development milestones. Empiric is to acquire the […]
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09 Nov 2015 1 min read
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 […]
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29 Sep 2015 1 min read
A look at Student property funds
Investing in halls of residence can be tricky though high yielding Empiric Student Property and GCP Student Living have made it work. http://citywire.co.uk/money/student-property-trusts-pass-the-test-as-income-funds/a835627
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15 Sep 2015 1 min read
Empiric Student Property results
Empiric Student Property has published results covering the year to the end of June 2015. At the end of June the NAV was 103.2 pence per share, a 5.2% increase from an opening NAV of 98.1 pence as at 30 June 2014 and net of all property acquisition costs. £218.8m of the portfolio valuation was attributable to operating assets, […]
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11 Sep 2015 1 min read
Empiric buys in Newcastle and Glasgow
In Newcastle Empiric Student Property will acquire on practical completion the freehold of a turnkey student accommodation and retail scheme, Metrovick House (pictured), in central Newcastle for £7.4m (excluding costs). The property, which is the Group’s second acquisition in Newcastle, is located in the city centre with excellent transport links and is walking distance from the City’s […]
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08 Sep 2015 1 min read
Empiric Student property expands in Exeter
Empiric Student Property is expanding in Exeter with the acquisition, subject to planning, of a site on Bonhay Road, Exeter, for a price of £2.5m. The site is to be developed into a 139 bed new-build premium student accommodation scheme and a forward funding development agreement is expected to be entered into shortly. The Group […]
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20 Aug 2015 1 min read
Empiric buys development in Bath
Empiric Student Property has exchanged contracts to acquire on practical completion the freehold on a site to be developed into a high quality turnkey student accommodation scheme on James Street West, in Bath, for a total investment of £25m (excluding acquisition costs). The property is currently owned and is being developed by James House Limited […]
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17 Aug 2015 1 min read
Empiric buys student block in Falmouth
Empiric Student Property is buying the freehold of a high quality purpose-built student accommodation scheme on Pendennis Rise, in Falmouth, for £8.1m (excluding costs). The property is located next to the Falmouth Docks, within a few minutes’ walk to the Woodlane campus of Falmouth University and the marine School, and with good public transport links […]
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14 Aug 2015 1 min read
Empiric Student Property acquires new build scheme in Sheffield for £10.7m
Empiric Student Property has acquired the freehold to a 134 bed new-build premium student accommodation scheme, in Sheffield, for £10.7m. Portobello House, as the development is known, is located in the heart of the University of Sheffield campus and within a 10 minute walk to the city centre and Sheffield Hallam University. The scheme comprises a mix of […]
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22 Jun 2015 2 min read
Empiric Student Property buys in Liverpool and Stoke
Empiric Student Property has acquired the freeholds of a portfolio of seven operational, direct-let, premium student accommodation properties in Liverpool and Stoke-on-Trent, comprising a total of 502 beds, for over £40m. They are paying cash of £22.8m (excluding acquisition costs) and taking on responsibility for the existing debt on the properties of £18.8m which has been retained […]
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27 May 2015 2 min read
Empiric Student Property acquisition spree continues
Empiric Student Property has been busy in recent days, acquiring a development site in Huddersfield (Oldgate House, pictured) for £11m and a portfolio of five operational, direct-let, premium student accommodation properties in Lancaster and Leicester from CityBlock, comprising a total of 381 beds, bought for £26.5m – this is on top of the deal they […]
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22 May 2015 1 min read
Empiric Student Property acquires St. Margaret’s Flats in Durham
Empiric Student Property has announced the acquisition of St Margaret’s Flats (pictured) – a freehold, operational, direct-let, student accommodation property in Durham for £5.1m (excluding acquisition costs). Built in 1994, the property has 109 beds, principally comprising 5-bed flats, across five blocks and was refurbished for the 2011/12 academic year. This included the replacement of all kitchens, bathrooms […]
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08 May 2015 1 min read
Empiric invests £11m in Newcastle
Empiric Student Property has announced the acquisition of Claremont Place in Newcastle, a terrace of Grade II listed buildings being converted to a luxury, direct-let, student accommodation property by specialist developer, Ziggurat Student Living. The building is expected to be operational by September 2015, in time for the 2015/16 academic year. The property is immediately adjacent to […]
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05 May 2015 1 min read
Empiric Student Property expands in Exeter and Manchester
Empiric Student Property is buying a 61 bed direct-let, premium student accommodation scheme in Exeter for £6.1m and is paying £1m for the freehold of a site for a 93 bed residential development in Manchester. In Exter, they will acquire the freehold to the site which was previously home to the Exeter library and is a […]
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30 Mar 2015 1 min read
Empiric buys in Leeds
Empiric Student Property has announced the acquisition of St Mark’s Court in Leeds. This property, which was completed in 2009, is a high-quality, modern purpose-built student accommodation scheme comprising 85 large self-contained studios with communal facilities and secure parking spaces. Empiric’s Board believes that there is scope to extract further value through asset management, including a […]
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10 Mar 2015 1 min read
Empiric continues spending spree with Aberdeen buy
Empiric Student Property has acquired a student accommodation development in Aberdeen: Spital Court Studios. The deal is to buy the freehold of a forward funded development in Aberdeen currently being developed into purpose-built student accommodation by local developer, Scape Homes. The site is located on the corner of St Peter Street and St Peter Lane, within half a mile […]
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09 Mar 2015 1 min read
Empiric buys the Ballet School in Glasgow
Empiric Student Property’s acquisition spree continues with the £11.92m purchase of the Ballet School in Glasgow. The Ballet School is a conversion of the listed former home of the Scottish Ballet, on Willowbank Crescent, comprising 103 self-contained studios of various sizes, which was completed in 2013. The property has been bought from the developer, CCG (Scotland) […]
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04 Feb 2015 1 min read
Empiric Student Property invests in Camberwell
Empiric Student Property has made its first acquisition in London with the purchase of a student accommodation block from Brandeaux Accommodation Funds for £13.25m. The announcement says the property, Liberty Fields in Camberwell, South London, is a high-quality conversion of an attractive building, which was part built in the 1930s and the 1970s and is part […]
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22 Dec 2014 1 min read
Empiric buys Algernon Firth in Leeds
Empiric Student Property has bought the Algernon Firth student accommodation block in Leeds for £7.2m. Algernon Firth has 111 beds arranged as a mixture of en-suite flats and loft-style studios. The apartments sit within in a Grade II listed building that was originally built for the University of Leeds in 1933 and is named after Yorkshire Industrialist, […]
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02 Dec 2014 1 min read
Empiric Student Property invests in Exeter
Empiric Student Property has announced it has made a further investment in Exeter. It is spending £4.5m to buy Dean Clarke Lofts, a 30 bed, loft-style student accommodation block. It is a conversion of a Grade 2 listed, Georgian building on Southernhay Gardens in Exeter. It was completed in August 2013 and comprises 30 beds […]
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27 Nov 2014 1 min read
Empiric buys in Hatfield
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 […]
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20 Nov 2014 1 min read
Empiric raises £65m and invests in Huddersfield
ESP : Empiric raises £65m and invests in Huddersfield Empiric Student Property has just raised £66m from investors through a placing and offer for subscription of shares and has already spent some of this on a new student accommodation block in Huddersfield. 65m shares were placed with institutional investors or sold through an offer for […]
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30 Oct 2014 2 min read
Empiric Student Property raising £66m cash to fund further asset purchases
ESP: Empiric Student Property raising £66m cash to fund further asset purchases Empiric Student Property has published a prospectus to raise up to £66m initially through an open offer and placing of 65m shares, with the potential to issue up to 300m shares during the next 12 months. ESP IPO’d on the London Stock Exchange on 30 June […]
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29 Sep 2014 1 min read
Empiric Student Property adds to Southampton exposure
ESP : Empiric Student Property adds to Southampton exposure Empiric Student Property has announced that it is paying £3.5m for a student accommodation property in Southampton. The property is on London Road in in central Southampton, close to Southampton Solent University and between the city centre and the University of Southampton and has 46 beds arranged […]
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25 Sep 2014 1 min read
Empiric invests in Nottingham
ESP : Empiric invests in Nottingham Empiric Student Property is buying a 98 bed student accommodation property in Nottingham. Talbot Studios opened in 2012 and is a purpose built property with 98 self-contained studio apartments together with various communal facilities. Empiric is paying £8.2m for the property. They say they’ll publish a trading update next […]
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03 Sep 2014 1 min read
Empiric expands into Aberdeen
ESP : Empiric expands into Aberdeen Empiric Student Property is expanding its portfolio with the acquisition of a 56 bed student accommodation property in Aberdeen. They are paying Scape Homes £6.5m for Centro Court, a purpose built block on Loch Street which has 56 studio apartments, bike storage facilities, communal entertainment and laundry areas.
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22 Aug 2014 1 min read
Empiric Student Property acquires Edge Apartments, in Selly Oak, Birmingham, for £8.9m
ESP : Empiric Student Property acquires Edge Apartments, in Selly Oak, Birmingham, for £8.9m Empiric Student Property has announced that it has acquired Edge Apartments (pictured), in Selly Oak, Birmingham, for £8.94m. Edge Apartments is a purpose built, 77 bed, student accommodation property which also benefits from rental income from a Sainsbury’s store (which is […]
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17 Jul 2014 1 min read
Empiric Student Property Acquires additional Birmigham student accomodation for £12m
Empiric Student Property acquires additional Birmigham student accomodation for £12m. Empiric Student Property has exchanged contracts to acquire an 106 bed, student accommodation property, on Bristol Road, Selly Oak, Birmingham for £12m. Located within five minutes walk of the University of Birmingham, the freehold “Mansion Brook” property is next to “Edge Apartments” that ESP has also agreed to purchase. Collegiate […]
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09 Jul 2014 1 min read
Empiric Student Property : ESP – new project in Southampton
Empiric Student Property has entered into a 50:50 joint venture with Revcap advisors to acquire a project that is building a 158 bed student accommodation project in Southampton. The building, Brunswick House on Brunswick Place, Southampton, is a former commercial property. The joint venture is paying £3.575m for the building which will be redeveloped and is […]
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07 Jul 2014 1 min read
Empiric Student Property : ESP – acquisition
Empiric Student Property has bought a development of an 86 bedroom student accommodation block being constructed on the site of a former cinema in Buccleuch Street in Edinburgh (next to the University of Edinburgh). Empiric has bought the freehold of the site from Cruden Homes (East) who are building the project for a cost of […]
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01 Jul 2014 1 min read
Empiric Student Property : ESP
Empiric Student Property has made its first acquisition since listing on 30 June. It has announced that it spent £31m on three properties – College Green in Bristol (an 84 bed long leasehold property bought for £9.97m at a net initial yield of 6.4%); Picturehouse Apartments in Exeter (a 102 bed freehold property, pictured, acquired […]
In The Press
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16 Oct 2023 1 min read
Do the Reit thing
Richard Williams, property analyst, QuotedData in Portfolio Adviser Magazine, October 2023: If, as the data suggests, inflation is coming under control and interest rates have hit a peak, Reits could be in for a re-rating. Languishing on discounts to NAV of 30-40%, the end of the interest rate escalator cannot come soon enough for the […]
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26 Jul 2021 1 min read
Trust Watch: ‘Cheap’ biotech & a 6%-yielding property play
Lots in this week’s review with strong updates from private equity trusts 3i and NBPE, biotech funds showing value and Waverton lining up a launch. By Gavin Lumsden, Investment Trust Insider, 23 Jul, 2021 3i and NBPE impress Fifth-placed 3i Group (III) rallied over 8% in the week to Thursday, half of it coming yesterday after the UK private […]
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12 Jul 2021 1 min read
Investment trust insider on student accommodation
Investment trust insider on student accommodation – James Carthew: DIGS drama raises my hopes for Empiric As a shareholder in Empiric Student Property (ESP), I got slightly over-excited on 2 July when GCP Student Living (DIGS) announced it had received a number of proposals from a consortium of investors including Scape Living and funds advised […]