Empiric Student Property has purchased a 136-bedroom purpose-built student accommodation (PBSA), from WUKPG, on behalf of a group of Chinese investors, for £19.75m.
Cushman & Wakefield represented Empiric Student Property and Slater Heelis acted for the syndicate of Chinese investors.
Tatton House on Hathersage Road in Manchester, is located opposite Victoria Point, another student scheme where Empiric Student Property has planning permission for a comprehensive redevelopment project.
The company’s ambition is to reconfigure the existing six blocks at Victoria Point and increase the number of beds by 310 to 876 overall.
Last year, Manchester City Council decided in favour of the Victoria Point scheme. Under the proposals, Empiric will reconfigure four blocks on the site off Hathersage Road and demolish another two. Those that are demolished will be replaced with one four-storey and another 12-storey building.
Tatton House was developed in 2016 by Solidagent Investment and was designed by Condy Lofthouse Architects. The addition of Tatton House to Empiric Student Property’s PBSA portfolio takes the number of beds it owns on Hathersage Road to over 1,000.
