Empiric Student Property has acquired the freehold in a purpose-built student accommodation scheme known as Maritime Studios in Falmouth, Cornwall, for £8.1m.
The property on Pendennis Rise comprises 146 self-contained studio flats, 14 of which have been sold on long leases.
Empiric chief executive Paul Hadaway said: “This is Empiric’s first acquisition in Falmouth, home to Falmouth University, one of the leading modern universities with a highly regarded multi-arts focus.
“The nearby Penryn Campus is shared by Falmouth University and the University of Exeter, a Russell Group university. While the current student population in Falmouth is just over 5,000, Falmouth University has published plans to increase its intake to a total of 8,000 by 2018 and there is a limited supply of new purpose-built student accommodation.”
