Empiric Student Property has exchanged contracts to purchase a site off Forthside Way in Stirling to turn into a direct-let student accommodation scheme.
Empiric paid £650,000 for the site. It has consent for 214 flats and is located in the Forthside Regeneration Area.
Empiric chief executive Paul Hadaway said: “Stirling is a thriving, compact and welcoming city with a wide range of commercial and cultural facilities. The University of Stirling has over 11,000 students, of whom over 30% are postgraduates. This is the group’s first investment in Stirling, which has a very limited supply of purpose-built student accommodation. The city is also a 45-minute train journey to Glasgow, which will facilitate joint management opportunities with the group’s operations located there. The acquisition is in line with Empiric’s investment criteria and returns profile.”
