Empiric Student Property Expands Manchester Portfolio with Strategic Investments

Empiric Student Property ( (GB:ESP) ) has provided an update.

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Empiric Student Property has announced the successful deployment of proceeds from its October 2024 Equity Fundraise, having acquired Tatton House in Manchester and planning a second acquisition. The company is also investing over £10 million in converting existing sites for postgraduate accommodations with high expected returns. Moreover, Empiric has received planning permission for a substantial expansion at Victoria Point, further strengthening its position in top-tier university locations. These strategic initiatives are aligned with Empiric’s goal of expanding its portfolio amidst undersupply in premium student housing.

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More about Empiric Student Property

Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation serving key UK universities. The company focuses on premium studio-led accommodation and operates through its Hello Student platform. Empiric is a real estate investment trust listed on the London Stock Exchange, emphasizing investments in both operating and development assets for affluent student segments.

YTD Price Performance: -3.95%

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Average Trading Volume: 1,204,645

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £532.5M

For an in-depth examination of ESP stock, go to TipRanks’ Stock Analysis page.