Empiric Student Property Plc secure 109 beds in Durham
Empiric Student Property plc annouce the acquistion of St Margaret's in Durham.
The direct-let, student accommodation property has been added to their student accommodation investment portfolio for consideration of £5.1 million (excluding acquisition costs).
The scheme was built in 1994, originally as a residence for the University of Durham comprising of 109 beds, arranged in 5-bed flats, across five blocks.
The property is in an excellent location in central Durham close to the popular Crossgate area, a short distance from the city centre.
The property is managed by CRM Students Limited, and such is the demand for student accommodation in Durham all rooms are already fully let for the 2015/16 academic year