The REIT has acquired the Selly Oaks Apartments which grows its total operational cluster of beds in the city to 430.

This PBSA has been acquired fully let for the 2024/25 academic year and is expected to deliver a yield in excess of 6% from September 2025.

This is Empiric’s second acquisition following its equity fundraise in October 2024, with the remaining funds allocated to its postgraduate refurbishment pipeline.

Elsewhere, Empiric has secured planning permission to convert a property in Bristol into a 57-bed, studio student accommodation scheme for postgraduates.

Bristol City Council has greenlit the conversion of College House, a former office building acquired in February 2024, into student accommodation.

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This builds upon initial residential permission for a 32-bed conversion granted in June 2024.

The property is expected to be completed and available for occupation from early 2026.

“The company continues to improve the quality and resilience of its portfolio - since March 2021 it has sold nearly £150m of non-core assets and will continue to dispose of non-aligned properties when market opportunities and appropriate pricing allows,” said Duncan Garrood, CEO of Empiric Student Property.

“This acquisition, together with the planning consent achieved to expand our Bristol cluster, supports the strategy outlined in the October equity raise of growing a portfolio of high-quality buildings which enhance shareholder returns and benefit from increasing alignment to top-tier universities (currently at 87%).”