Empiric Student Property plc has secure planning approval from Bristol City Council to transform the College House office building in Bristol into a purpose-built student accommodation (PBSA) scheme. The company acquired the building in February 2024.
Planning approval improves upon the initial 32-bed residential permission obtained in June 2024. The new planning approval for the transformation of College House will now see the delivery of a 57-bed, all-studio student accommodation scheme for postgraduate students.
Proceeds from the company’s equity fundraise will be deployed towards the property’s transformation, which is expected to complete and be available for occupation in early 2026.
Located moments from the University of Bristol campus, College House is adjacent to Empiric’s existing College Green site, providing access to extensive amenity and study areas within our existing cluster of accommodation in the city.
Today, Empiric also announced its acquisition of Tiger Developments’ Selly Oak Apartments PBSA scheme, which is managed by Host. It marks a significant step in the company’s strategy to expand its studio-led student accommodation portfolio near top-tier universities.
The acquisition also forms part of its broader growth strategy – which was successful in 2024 – supported by the proceeds from its October 2024 equity fundraise.
“The Company continues to improve the quality and resilience of its portfolio. Since March 2021 it has sold nearly £150m of non-core assets and will continue to dispose of non-aligned properties when market opportunities and appropriate pricing allows.
“This acquisition, together with the planning consent achieved to expand our Bristol cluster, supports the strategy outlined in the October equity raise of growing a portfolio of high-quality buildings which enhance shareholder returns and benefit from increasing alignment to top-tier universities (currently at 87%).”
Duncan Garrood, Chief Executive Officer, Empiric Student Property
