Shared 11 June, 2025
Unite Group has proposed buying smaller developer Empiric in a deal that would be worth £719m.
The former, which posted turnover of nearly £400m last year, submitted a proposal to buy Empiric Student Property of which 28% would consist of cash. The possible offer values each Empiric share at 107.0 pence.
A Unite spokesperson said the group believes the possible offer represents an opportunity to increase its appeal to students “for the duration of their academic journey in the UK, including in the returner and postgraduate segments”.
With the potential synergies that could be unlocked by Unite’s operating platform, it added the possible offer has the potential to deliver accretion to earnings and shareholder returns while maintaining balance sheet strength.
Empiric is the owner of the Hello Student brand. It has more than 80 purpose built student accommodation buildings, located in 28 cities in the UK. More than 8,000 students live with them and this is growing as it expands in 2023 and beyond.
Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.
*Offer ends on Friday, 7th February.
