Empiric Student Property Share Discussion Threads

[rjd123] 12/6/2015 15:17

Lots of buys going through but no real share price movement, any thoughts?

[aishahq] 05/5/2015 12:27

Hi! Quite interested in the company but struggling on how to value it? What are the profits for 2015 forecast to be? And what is their net debt?

Or am I looking at this all wrong...? Thanks

[ryandj2222] 16/3/2015 21:16

Yes I think they're tradeable from tomorrow and should be there by 8 am! I just wondered if anyone had received 'em yet.

[swordfish7] 16/3/2015 14:52

Tomorrow 8am isn't it?

[ryandj2222] 16/3/2015 14:48

Anyone get their offer shares yet?

[novision] 13/3/2015 10:08

Offer over-subscribed and raised 85m instead of 75m. Should be a good sign.

[mngf] 25/2/2015 09:08

Long term tuck away this, 6p dividend target announced today

[jakedog2] 05/2/2015 16:22

From NT blog today.....

Coming up late in the evening at the seminar was an interesting one: Empiric (ESP)

I like the idea of this business - buys up property and turns it into decent student accommodation - you can see from its website how cleverly it makes a small space look very desirable.

I'm in at around the current price at 105.87 - my expected timetable on it is probably at least a two year hold for decent capital gains and a nice dividend too.

[jonwig] 10/1/2015 09:41

The property manager of the Mansion Student Accommodation Fund is seeking to liquidate the fund after redemptions were suspended for more than a year.

More:

(This, of course, is an open-ended structure.

I'd imagine Empiric, GCP and Unite will be eyeing the sale, hopefully getting a discount.
A capital raise on the cards here?

[qs99] 09/1/2015 12:24

am in....looks an interesting one to tuck away in the ISA IMO....

[daveofdevon] 08/12/2014 16:47

Today I can report a happy ending to the saga of 10,000 share minimum in the recent open offer when I only wanted 6,000.

I took the plunge and bought the 10,000 and my wife did the same. This afternoon when the price rose we each sold 4,000 shares making a few quid profit after dealing costs and arrived at our intended holding. Phew.... happy days

[gswredland] 09/11/2014 09:05

Blimey. I would buts 1000 but not ten- won't be investing

[stemis] 06/10/2014 10:58

I don't really understand why the directors are interested here. They've basically sold some properties and made a lot of money, then they've invested a tiny bit of it in shares in this company for which they also get a bit of a salary. Why are they bothering (other than as an exit for their investment in the properties)?

i.e. Paul Hadaway receives £8.6 million, invests £250k in shares and gets £250k salary. Attlee receives £7.8 million, invests £250k in shares and gets £250k salary. Now if they'd invested all their interest in the properties for shares then that would be a different matter. But they've basically taken 95% plus off the table.

Maybe that's why institutional backing for the company was so lukewarm.

Also can't see them paying a 6% dividend at the moment. Maybe 4.5%. Rents are £6.1m. Knock off £500k for CPMA (marketing/collecting rent), £1m for directors salaries, £200k for 'investment advice' and maybe £400k running costs, leaves about £4m, which is 4.7p per share.

So relatively average yield, premium to net assets and slightly worrying directors commitment. Not at the moment thanks.......

[losos] 26/9/2014 12:54

Skinny - "you can now deal online with HL."

Thanks Skinny, I would have had the same problem as DAVEOFDEVON (I also use HL)'tho I didn't actually try. I've decided to just watch these for a while and try to see the 'trend' my wife also has an ISA with similar holdings so no rush to get in just yet. Nice divi 'tho.

[skinny] 09/7/2014 07:23

ESP enters joint venture to acquire development project in Southampton

The Board of Empiric Student Property plc (LSE: ESP) is pleased to announce that the Company, in a 50:50 joint venture arrangement with Revcap Advisors Limited ("Revcap") (the "JV Entity"), has exchanged contracts to acquire a direct development project in Southampton. The project comprises the redevelopment of a commercial property into a direct-let, premium student accommodation scheme and has planning permission for 158 studio beds.

The JV Entity has agreed to purchase the freehold of Brunswick House, on Brunswick Place, Southampton from Bannerdale Estates Limited for consideration of £3.575m (excluding VAT). The acquisition is expected to complete on 28 July 2014. The proposed opening target date for the development is September 2015.

Paul Hadaway, Chief Executive of Empiric Student Property plc, commented:

"Brunswick House is a significant student accommodation development scheme in central Southampton, close to Southampton Solent University and between the city centre and the University of Southampton. We look forward to working with Revcap to develop this project in time for the 2015/16 academic year."

[skinny] 07/7/2014 07:25

From last week :-



ESP acquires first three student accommodation properties for c.£31m

The Board of Empiric Student Property plc (LSE: ESP) is pleased to announce that, following the successful completion of its recent IPO, it has now completed the acquisition of its first three student accommodation properties for a total consideration of c. £31m, as set out below:

· College Green, Bristol (84 bed long leasehold property, acquired for £9.97m at a net initial yield of 6.4%);
· Picturehouse Apartments, Exeter (102 bed freehold property, acquired for £11.41m at a net initial yield of 6.5%); and
· Summit House, Cardiff (87 bed freehold property, acquired for £9.58m at a net initial yield of 6.5%).

In addition, the Board expects to complete the acquisition of Edge Apartments, Birmingham (77 bed freehold property) at an acquisition price of £8.94 million, by mid-August 2014 (upon practical completion of the building). Following this, the aggregate consideration paid for all four initial student accommodation properties will be c. £40m, representing almost 48 per cent. of the net proceeds from the IPO.




ESP acquires forward funded property in Edinburgh

The Board of Empiric Student Property plc (LSE: ESP) is pleased to announce that the Company has entered into an agreement in relation to the acquisition of a forward funded development of an 86 bed direct-let, premium student accommodation scheme in Edinburgh.

The Company has agreed to purchase the freehold of the site, part of a listed former cinema building, located on Buccleuch Street, Edinburgh, from Cruden Homes (East) Limited for a total consideration of c. £8.52m. Cruden Homes (East) Limited will be managing the construction of the property on behalf of ESP, with practical completion scheduled for May 2016.

[daveofdevon] 30/6/2014 13:57

OK and thanks but have decided to keep powder dry for a day or three

[skinny] 30/6/2014 13:49

DAVEOFDEVON - you can now deal online with HL.

[jonwig] 30/6/2014 12:15

GCP Student Living had a successful recent secondary fundraising, and just the other week Brandeaux was forced to pull its £400m student accommodation IPO, but that's a long-standing tale of woe.

I wonder if both of these, for different reasons, have had an effect.

DIGS (which I hold) had a more modest issue both times (about £50m each), and its prospectus has a target dividend yield of 5.5% and total return of 8 - 10%. Also, DIGS is in London, so you'd think it would have better total return prospects (though there might be oversupply).
DIGS stands at a 4% premium to its NAV. So this is in line for the present.

[spob] 30/6/2014 12:15

sure

Regarding property boom outside London


It says in their prospectus that student rental yields have tripled since 1995


I suppose you could say we are in a student rental boom

I guess money is no object when you are living off a student loan that you will never pay off :)

[wirralowl] 30/6/2014 12:00

Just seen your posts, Spob. They are pretty ambitious targets that I suspect they'll have to scale back somewhat, now!

[wirralowl] 30/6/2014 11:53

No problem, DAVEOFDEVON.

I note from the IC article below from May, they say they were targeting £110m, so not necessarily that far off their initial target?



As they indicate in their prospectus, and in common with other property co's they will almost certainly come back to mkt for more funds in time, but it shouldn't be a problem for them though to purchase the £40m internal seed portfolio that IC refer to.

I'm also wondering if they're being pretty smart in purposefully targeting properties outside of London, as there are still large swathes of the country that haven't experienced much of the property boom the press keep banging on about..?

[spob] 30/6/2014 11:43

If they do get to 10000 beds in a few years, I wonder what are the chances of the total number of shares staying at 85m

[spob] 30/6/2014 11:38

regarding the 8000 to 10000 target

At the end of this year they are aiming for around 1100 beds using float proceeds

so that would be some leap to get to 10,000 over a few years