LONDON (ShareCast) - (ShareCast News) - Student accommodation provider Empiric Student Property has acquired Maritime Studios, a purpose-built facility in Falmouth for £8.1m.
In a short statement released on Monday, the London-listed company said the facility, which comprises 146 studio apartments, was a high yield property which was fully let for the 2014/15 academic year and is already 100% pre-let for the 2015/16 academic year.

However, 14 of the studios have been sold off on long leases, leaving 132 beds under the company's ownership.

"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," said group chief executive Paul Hadaway.

"This acquisition is in line with Empiric's investment criteria and returns profile."

Empiric shares were up 0.26% to 109.53p at 1052 BST on Monday.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE