Empiric Student Property buy £40m Cardiff property
Empiric Student Property has spent £40m on a housing development in Cardiff which is under construction.
The new-build property, located on Windor Place, will comprise 314 beds across a mix of studios and two bed apartments, with communal facilities.
The building, which will be acquired with a first year rental guarantee, is currently owned by the developer Fusion Students. It is expected to be operational by August 2016 in time for the 2016/17 academic year.
Paul Hadaway, chief executive of Empiric Student Property, said: This acquisition is our fourth in Cardiff, a vibrant student city with three universities and some 44,000 full-time higher education students, with above average numbers of international and postgraduate students …