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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Empiric Student Property Plc | LSE:ESP | London | Ordinary Share | GB00BLWDVR75 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.30 | 0.33% | 90.00 | 89.80 | 90.00 | 90.20 | 89.30 | 90.00 | 1,137,841 | 16:35:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 80.5M | 53.4M | 0.0885 | 10.15 | 541.76M |
TIDMESP
RNS Number : 7529T
Empiric Student Property PLC
17 October 2017
17 October 2017
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries, the "Group")
Empiric to sell student accommodation development site in Stirling: Forthside Way
The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, is pleased to announce that the Group has exchanged contracts to sell the freehold of the Forthside Way site (the "Property") in Stirling for GBP2.0 million (excluding costs). The disposal is expected to complete on 27 November 2017.
This site was acquired by the Group in August 2015, subject to achieving a student accommodation planning approval. The site of approximately 0.30 ha (0.75 acres) has detailed planning permission for a 208 bed student accommodation development granted on appeal in October 2016 following an application by the Group.
Paul Hadaway, Chief Executive of Empiric Student Property plc, commented:
"The sale of Forthside Way site follows an operational review. Whilst we will continue to identify opportunities for the development of premium Purpose Built Student Accommodation, our current focus is on building critical mass in our target cities. The Forthside Way site was our only asset in Stirling. The Property has been sold with the benefit of the planning approval obtained by the Group, which has resulted in a substantial uplift in value above the original acquisition price."
For further information on the Company, please contact:
Empiric Student Property plc (via Newgate below) Paul Hadaway (Chief Executive) Tim Attlee (Chief Investment Officer) Lynne Fennah (Chief Financial Officer) Akur Limited (Joint Financial Tel: 020 7493 3631 Adviser) Tom Frost Anthony Richardson Siobhan Sergeant Jefferies International Limited Tel: 020 7029 8000 (Joint Financial Adviser and Broker) Gary Gould Stuart Klein Newgate (PR Adviser) Tel: 020 7680 6550 James Benjamin Em: empiric@newgatecomms.com Anna Geffert Lydia Thompson
Further information on Empiric can be found on the Company's website at www.empiric.co.uk.
Notes:
Empiric Student Property plc is a leading provider and operator of modern, direct-let, nominated or leased student accommodation across the UK. Investing in both operating and development assets, Empiric is a multi-niche student property company focused on, (i) providing good quality first year accommodation managed through its Hello Student(R) operating platform in partnership with universities, (ii) offering a variety of second and third year purpose built accommodation options for individual students and those wanting a group living environment, and (iii) continuing to expand the Group's existing premium, studio-led accommodation portfolio which is attractive to international and postgraduate students.
The Company, an internally managed real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
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October 17, 2017 02:00 ET (06:00 GMT)
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