The Board of Directors of Empiric Student Property plc is pleased to announce that the Group has entered into a nomination agreement with the University of Bath (the “Appointment Agreement”) for the Group`s three operational properties (Piccadilly Place, Canal Bridge and Widcombe Wharf) and two committed assets to be completed in September 2016 (1-3 James Street West and James House) in Bath, is complete. The duration of the appointment agreement is five years from the beginning of September 2016 (with the exception of the 141 James House studios, which are covered by the appointment agreement for one year from the beginning). “Even lenders on the main streets lend to student dormitories backed by an appointment agreement,” says Jonathan Fewster. This nomination agreement requires that any new construction program (regardless of the number of units) and any conversion that produces three or more units, has received public grants, or is funded by a section 106 agreement should give Council 100% of the nominations for initial leases and 50% of the nominations for subsequent leases. As the UK`s largest provider of student accommodation, Unite Students not only offers an exceptional residential experience as standard, but our university partner offering is tailored to your needs and those of your students. This forms our home for success, which focuses on delivering what is important to students. “We sat down with Unite students to discuss how they can help with future developments, look at different models and how they can help us provide more housing for our students. They work with you and they really understand what you are looking for. Jonathan Fewster, Accommodation Manager, Partner at Bircham Dyson Bell LLP, believes that student residences are where investors focus their attention, as they can be backed up by academic appointment agreements that put the risk on the institution and not on the investor.
“Where the university takes the risk, it`s easy to see why investors and lenders would like to invest – it`s a reliable deal; contracts can be for a period of 25 years and guarantee the rent of the beds regardless of fluctuations in demand. 52% of our rooms are the subject of nomination agreements with 60 university partners that support short-, medium- and long-term accommodation needs. These NOM agreements reserve rooms for your students for a guaranteed rent, so you can plan your accommodation needs at fixed and competitive rates with a provider you can rely on. As a partner, we can also offer financial and real estate advice, partnership approaches for asset development or refinancing, integrated hosting management or any tailor-made combination. We measure the satisfaction of our students internationally and we are consistently in the top third of service providers in Europe. With over 28 years of experience in the industry and access to 76,000 students per year, we continue to conduct extensive research to give us an up-to-date insight into student life. .