Empiric has acquired the freehold of William & Matthew House, a student accommodation development in Bristol.
The group is to forward fund the development of the site into a 75-bed student accommodation block by regional developer Urban Creation. The full investment required for the development is £7.8m.
Practical completion is expected in time for the 2016/17 academic year.
Paul Hadaway, chief executive of Empiric, said: “We are pleased to be working again with Urban Creation, from whom we acquired our London Road, Southampton property. This acquisition is in line with Empiric’s investment criteria and returns profile.”
