13th Jan 2025 10:12
(Alliance News) - Empiric Student Property PLC on Monday said it gained permission to greatly increase the number of beds at Victoria Point in Manchester as it completed the purchase of Tatton House in the English city.
The London-based owner and operator of student accommodation in the UK said it is now able to add additional beds to Victoria Point, as Manchester City Council granted detailed planning permission for the comprehensive redevelopment and reconfiguration of the site.
The company is allowed to increase the number of beds to 876 from just 310. Empiric Student expects implementation to begin at earliest in late 2026.
Further, Empiric said it completed the acquisition of Tatton House, a 136-bed all-studio scheme, for around GBP19.8 million. It is opposite to Victoria Point.
Empiric Student shares were up 0.1% at 80.30 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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