Empiric Student Property has exchanged contracts to acquire on practical completion a 169-bed scheme in Bath for £25m.
The property on James Street West is currently owned and being developed by James House. It is due to reach practical completion in September 2016.
The property is located in central Bath, to the west of the city centre, and within a short walk to Bath Spa railway station. It is equidistant from Bath’s two universities, the University of Bath and Bath Spa University.
The proposed new-build development will comprise three blocks of up to four storeys around a central courtyard area, with 169 beds in a mix of multi-bed townhouses and self-contained studios, with communal facilities.
James House, together with CRM as letting agent, will be responsible for the marketing and letting of the scheme for the 2016-17 academic year.
Paul Hadaway, chief executive of Empiric, said: “This is Empiric’s first investment in Bath, a prime target university city for the company, with two key universities and a number of other higher education institutions, resulting in full-time student population of over 20,000.”
