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Sign in Sign up for a FREE subscriptionSingapore investor buys asset in England
Empiric Student Property PLC has sold Emily Davies House, located in Southampton, England, to Singapore-based Far East Orchard Ltd for £13.9 million (€16.2 million/$17 million).
“The sale of Emily Davies is in line with our non-core disposal program and releases capital for recycling into our core portfolio refurbishment program. Against the backdrop of wider macro-economic uncertainty, this sale demonstrates the continued attractiveness and resilience of purpose-built student accommodation,” said Duncan Garrood, Empiric Student Property CEO.
Emily Davies House comprises three- to four-bedroom apartments with shared bathrooms and kitchens and is configured to provide 180 beds. Far East Orchard is part of Singaporean real estate developer Far East Organization.
