4th Nov 2015 09:27
LONDON (Alliance News) - Empiric Student Property PLC on Wednesday said it has bought the freeholds on three direct-let student accommodation properties in Bath for GBP9.2 million.
The three properties, comprising Canal Bridge, Widcombe Wharf and Piccadilly Place, have been acquired from developer Iesis Group, which will manage the sites on behalf of Empiric.
"The acquisition of this portfolio is the group's third investment in Bath and on completion of Empiric's two assets currently under development, will result in Empiric owning a total of 354 operating beds in this attractive student city at the start of the 2016/17 academic year," said Empiric Chief Executive Paul Hadaway.
Shares in Empiric were up 0.9% to 109.213 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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