8th May 2015 07:24
LONDON (Alliance News) - Empiric Student Property PLC Friday said it has struck a deal to acquire the Claremont Place student accommodation property in Newcastle for GBP11 million.
It has acquired the building from developer Ziggurat Student Living and expects the site to be operational in time for the 2015-16 academic year.
"Newcastle is an ideal target city for Empiric - an exciting student city with two popular universities. Newcastle University is a Russell Group university which attracts some 23,000 students from around the world and with a high proportion of post-graduate students," said Paul Hadaway, Empiric's chief executive.
Shares in Empiric were up 0.2% to 105.7 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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