Investor information
Investment Overview

Investment Overview

Investment overview

Empiric Student Property plc (LSE: ESP), a UK REIT, is a leading provider and operator of modern, direct-let, nominated or leased student accommodation located in prime city centre locations in top university towns and cities in the UK. The Company listed on the Main Market (Premium Listing) of the London Stock Exchange in June 2014.

 

Financial highlights 

• As at 31 December 2018, our portfolio was valued at £970.6m (31 December 2017: £890.1m).
• We have paid out dividends in respect of the year ended 31 December 2018 equating to 5.00p per share (year to 31 December 2017: 5.55p per share).
• Our adjusted earnings per share was 3.20p per share for the year ended 31 December 2018 (1.86p per share for the year to 31 December 2017).

 

Operational Highlights 

  • Current occupancy of 96% for academic year 2018/19 (2017/18: 92%), benefiting from rigorous focus on driving revenue, although below our target for the year of 97%. Further action taken to enhance sales capabilities and attract short-term lets
  • All properties brought onto the Hello Student® platform from 1 September 2018
  • Facilities management for 27 assets brought in-house ahead of the 2018/19 academic year, with remainder bought in-house by 1 April 2019
  • Wide range of other improvements to enhance operational performance and reduce costs, helping to ensure our business is fit for the long term
  • 95 assets with 9,397 beds contracted as at 31 December 2018 (31 December 2017: 94 assets with 9,158 beds)
  • 91 revenue-generating assets at the year-end (31 December 2017: 85 assets), with an average valuation yield of 5.64% (31 December 2017: 5.70%)

Notes
* The Company budgets and models on the basis of 97% occupancy. Occupancy or income of the operational portfolio to this level and in excess is considered fully let.

In this section

Share price chart, regulatory news, reports and more...

9%

The growth of full-time student numbers in ESPs locations vs 5% nationally over 5 years

165,965

The excess number of applicants who were not accepted to a UK University in 2017-18, indicating the continued demand for the UK’s quality Universities

18.4%

Rental costs up 18.4% between 2012 and 2016, significantly outperforming RPI

25%

The increase in full-time student population in the last ten years

Questions? Get in touch.

Contact Us

Empiric Head Office
Empiric Student Property plc
Swan House, 17-19 Stratford Place, London W1C 1BQ

info@empiric.co.uk
+44 (0)20 3828 8700

Media Contact

James Benjamin
Partner
Maitland/AMO

empiric-maitland@maitland.co.uk
+44 (0)20 7379 5151

Broker

Stuart Klein
Managing Director, Corporate Broking
Jefferies International Ltd

stuart.klein@jefferies.com
+44 (0) 20 7029 8000