Released:07/10/201607:00
RNSNumber:9447L
EmpiricStudentPropertyPLC
07October2016
7October2016
EmpiricStudentPropertyplc
("Empiric"orthe"Company"or,togetherwithitssubsidiaries,the"Group")
Alltheproper eswerefullyletforthe2015/16academicyearandare100%preletforthe2016/17academicyear.The
opera onsarecurrentlymanagedbyCampbellPropertywhichwillcon nuetomanagetheproper esonbehalfofthe
GroupbeforeoperationsareintegratedontotheHelloStudentoperatingplatform.
BishopBlackallSchool(8.02million)Exeter
BishopBlackallSchool,Exeter,wasconvertedin2011fromanEdwardianschoolandheadmaster'shouseintoadirectlet
studentaccommoda onpropertywith113bedsacrossamixoftwotoeightbedroomapartments,eachofwhichhasits
ownkitchenandlivingarea.Thepropertyisa10minutewalktotheUniversityofExetercampusandsevenminutesfrom
thecitycentre.ItiswithineasyreachofEmpiric'ssixotherproper esinthecity,facilita ngopera onaleconomiesof
scale.
TheHosieryFactory(5.61million)andTheShoeandBootFactory(8.86million)Leicester
TheHosieryFactory,Leicester,whichwasconvertedin2015,isadirectletstudentaccommoda onpropertywith107beds
acrossamixofthreetoninebedroomapartments,eachofwhichhasitsownkitchenandlivingarea.
TheShoeandBootFactory,Leicesterisadirectletstudentaccommoda onpropertywith173bedsacrossamixoffourto
eightbedroomapartments,eachofwhichhasitsownkitchenandlivingarea.Thebuildingwasconvertedfromtheoriginal
factoryin2013andretainsmanyoftheoriginalfeatures.Twonewbuildstructureshavecreatedacourtyardamenityspace.
Theproper es,whicharelocatedoppositeeachother,arewellsituatedinthecitycentre,athreeminutewalktoDe
Mon ordUniversityanda15minutewalktotheUniversityofLeicester,andwithineasyreachofEmpiric'sotherve
proper esinthecity,facilita ngopera onaleconomiesofscale.
ElmGroveLibrary(1.11million)andKingswayHouse(3.09million)Portsmouth
ElmGroveLibrary,Portsmouth,whichwasconvertedfromaformerlibrarybuildingin2012,isadirectletstudent
accommoda onpropertywith19bedsacrossamixofthreetovebedroomapartments,eachofwhichhasitsownkitchen
andlivingarea.
KingswayHouse,Portsmouth,isadirectletstudentaccommoda onpropertywith52bedsacrossamixofthree,four,
sevenandeightbedroomapartments,eachofwhichhasitsownkitchenandlivingarea.Thebuildingwasconvertedfrom
aformerNHSocebuildingin2014andhasbeenredesignedtocreateacentrallivingarea,withtheoriginalconcrete
claddinghavingbeenreplacedwithamoremodernfaade.
Theproper es,whicharelocatedoppositeeachother,aresituatedinthestudenthubinSouthsea,a15minutewalktothe
UniversityofPortsmouthanda20minutewalktotheGunwharfQuaysshoppingcentre.
PaulHadaway,ChiefExecu veofEmpiricStudentPropertyplc,commented:
"Theacquisi onofthispor olioincreasesourpresenceinExetertoapproximately595bedsacrosssevenproper es,in
Leicesterto560bedsacrosssevenproper esandinPortsmouthto354acrossfourproper es.Thepurchaseofsmall,
complementarypor oliosofproper esenablesustodeploytheGroup'scapitalinamorecostecientmanner,the
benetofwhichaccruestoourshareholders.Thisacquisi onisinlinewithEmpiric'sinvestmentcriteriaandreturns
prole."
Forfurtherinforma onontheCompany,pleasecontact:
EmpiricStudentPropertyplc
(viaNewgatebelow)
PaulHadaway(ChiefExecu ve)
TimA lee(ChiefInvestmentOcer)
MichaelEnright(ChiefFinancialOcer)
AkurLimited(JointFinancialAdviser)
Tel:02074933631
TomFrost
AnthonyRichardson
SiobhanSergeant
StuartKlein
Newgate(PRAdviser)
Tel:02076806550
JamesBenjamin
Em:empiric@newgatecomms.com
ZoePocock
AlexShilov
LydiaThompson
Furtherinforma ononEmpiriccanbefoundontheCompany'swebsiteatwww.empiric.co.uk.
Notes:
EmpiricStudentPropertyplcisaleadingproviderandoperatorofmodern,directlet,premiumstudentaccommoda on
acrosstheUKandiscommi edtoprovidingshareholderswithregular,sustainableandgrowing(atleastinlinewithRPI)
dividends,togetherwiththepoten alforcapitalapprecia onoverthemediumtolongterm.Inves nginbothopera ng
anddevelopmentassets,theCompanyfocusesonquality,withassetsgenerallyinprimecentralloca onsintopuniversity
ci esandtownsintheUK,a rac nginterna onalstudentsand/orthosestudyingbeyondrstyear,inpar cular,
postgraduates.Forthe2015/16academicyear,Empiric'scustomerbasecomprises69%interna onalstudentsfrom98
countries.78%oftheCompany'scustomersarestudentsbeyondtheirrstyearofstudy.
TheCompany,aninternallymanagedrealestateinvestmenttrust("REIT")incorporatedinEnglandandWales,listedonthe
premiumlis ngsegmentoftheOcialListoftheFinancialConductAuthorityandwasadmi edtotradingonthemain
marketforlistedsecuri esoftheLondonStockExchangeinJune2014.TheCompanyisacons tuentoftheFTSEAllShare
andFTSEEPRA/NAREITindices.
ThisinformationisprovidedbyRNS
ThecompanynewsservicefromtheLondonStockExchange
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