Empiric pays £8.2m for student property in Nottingham
Empiric Student Property has exchanged contracts to acquire the freehold of Talbot Studios, an operating, direct-let, premium student accommodation property in Nottingham, for consideration of £8.2m.
The purpose-built student accommodation property, which opened in 2012, is to be acquired from Romiga Studios. It comprises 98 self-contained studio apartments together with various communal facilities.
The property is let for 51 weeks of the year and is 100% let for the 2014/15 academic year. The property will continue to be managed by Corporate Residential Management …