Member Article

Empiric Student Property acquires buildings in Liverpool

Empiric Student Property has acquired a student property portfolio of buildings in Liverpool and Stoke-on-Trent from Urban Sleep.

The total cash consideration is for £22.8m and includes 502 beds.

The portfolio in Liverpool is of six individual buildings, five of which are within close proximity to each other, on or just off Myrtle Street.

Myrtle Street is a prime central location forming the southern boundary of the University of Liverpool’s main campus and is less than a five minute walk from Liverpool John Moores University’s Mount Pleasant campus.

Chief executive of Empiric Student Property, Paul Hadaway, said: “The acquisition of this portfolio from Urban Sleep represents an efficient deployment of equity capital in one transaction and provides Empiric with exposure to two new university cities with top 40 universities.

“The Liverpool and Stoke-on-Trent properties are very well located and the Liverpool portfolio also provides the Group with six high quality properties close to each other in line with our ‘city clustering’ strategy.

“The acquisition is in line with Empiric’s investment criteria and returns profile.”

This was posted in Bdaily's Members' News section by Sophia Taha .