Empiric top of the class with record year

Empiric Student Property said its “transformation plan” has helped it deliver a record year in its latest set of results. The company posted revenue of £80.5m and profit of £53.4m for 2023. The company’s portfolio valuation of £1.09bn was up 3% like for like. Rental growth stood at 10.5% for the academic year. Chief executive Duncan Garrood said: “During what has been another record year for the company, we have delivered strong rental growth and filled our rooms earlier than ever before. Customer satisfaction improved further… Combined with ongoing undersupply of high-quality, well-located student accommodation in prime cities, this dynamic continues to drive increased re-bookings and greater demand for our rooms. This momentum has continued into the new sales year and positions us well for growth.” Image © Empiric Student Property/Spike Global