4th Jun 2025 09:31
(Alliance News) - Empiric Student Property PLC on Wednesday said it "remains in great shape," as its pace of reservations for the next academic year is ahead of the wider market.
The London-based owner and operator of student accommodation in the UK said it is encouraged that its portfolio will "again be effectively full" in the 2025/26 academic year, with an occupancy rate of at least 97%.
It expects like-for-like growth in average weekly rents to exceed inflation at between 4% and 5%.
Three newly converted and refurbished schemes in Bath, Sheffield and Southampton are on track to open in September 2025, with a property in Bristol scheduled to open in early 2026.
Empiric Student Property added that work is ongoing to facilitate a phased implementation plan for the redevelopment of its Victoria Point site in Manchester after it received planning permission in January.
It expects work to begin in late 2026, and it noted a "good degree of lender appetite" for the scheme.
The last of its non-core properties is under offer and progressing towards sale, the company added.
It declared an interim dividend of 0.925 pence per share, and said it is on track to deliver its minimum full-year dividend of 3.7p for 2025, unchanged from the previous year.
Shares in Empiric Student Property were up 0.7% at 98.00 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
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