Empiric completes acquisition of Willowbank development asset in Glasgow
24th December 2014
ESP announces that planning approval and listed building consent has been received to redevelop the former Willowbank Primary School ("Willowbank") into direct-let premium student accommodation. The acquisition has been completed and ownership of the property has been transferred to Empiric (Glasgow) Limited.
Planning permission has been received to develop a scheme comprising 178 beds (increased from the 158 beds originally envisaged) in a mix of studio, two and three bed apartments. The Willowbank development is targeted to be completed in time for the start of the 2016/17 academic year. As a result of the increased number of beds, the purchase price for the site has increased by ￡100,000 to ￡1,925,000.
Questions? Get in touch using the contact details below.
Questions? Get in touch.
Empiric Head Office
Empiric Student Property plc
Swan House, 17-19 Stratford Place, London W1C 1BQ
+44 (0)20 3828 8700
+44 (0)20 7379 5151
Managing Director, Corporate Broking
Jefferies International Ltd
+44 (0) 20 7029 8000