Empiric Student Property Expands Manchester Portfolio with Strategic Investments

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

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.

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%

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.