Empiric Student Property plc forward fund Huddersfield development
Empiric Student Property the most active student property investment fund, has forward funded a development in Huddersfield, known as Oldgate House, for a total investment of £11m
Empiric, acquired the freehold to the site on Oldgate, located only five minutes walk from the main campus of the University of Huddersfield and very close to the city centre.
The development is a conversion of Oldgate Housea 1970s built office block, the completed scheme will comprise of 179 beds across a range of different size studios, together with communal space for students.
Forshaw Land and Property Group Limited will undertake the redevelopment of the property on behalf of Empiric.
The full £11m investment to purchase the development will be used in stages in accordance with strategic milestones.
The development is scheduled for to be completed by summer 2016.