LONDON (ShareCast) - Empiric Student Property is set to acquire a premium student accommodation scheme in Edinburgh for £8.52m, making it the group’s fourth acquisition since its flotation in June.

The firm said it has entered into an agreement to purchase an 86-bed direct-let property on Buccleuch Street.

The building is next to the University of Edinburgh, which the group expects will help boost “attractive returns”, in line with its investment parameters.

Crudden Homes is anticipated to be managing the construction of the property on behalf of Empiric with completion set for May 2016.

As of 13:40 the share price was unchanged at 100p.

WS

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