Empiric Student Property plc is a British company providing student accommodation. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.[2]
 | |
| Company type | Public |
|---|---|
| LSE: ESP (FTSE 250 Index constituent) | |
| Industry | Property investment |
| Founded | 2014 |
| Headquarters | , |
Area served | England |
Key people | Mark Pain (Chairman) Duncan Garood (CEO) |
| Revenue |  £80.5 million (2023)[1] |
 £71.4 million (2023)[1] | |
| £53.4 million (2023)[1] | |
| Website | www |
History
editThe company was established by Paul Hadaway and Tim Attlee as London Cornwall Student REIT plc in February 2014. It changed its name to Empiric Student Property plc in March 2014.[3] The first CEO was Paul Hadaway, but after incurring significant extra costs involved with establishing its "Hello Student" management and letting platform,[4] Hadaway stood down and the board instigated a major strategic review,[5] with steps being taken to bring costs under control.[6]
Subsequent management changes involved Attlee being appointed CEO in November 2018,[7] and then Duncan Garrood taking over in June 2020.[8] Later that year, the company resolved to keep costs under control by implementing a strategy of clustering its properties so that they are in "close proximity to top-tier universities".[9] This necessitated significant disposals of properties which did not meet the new criteria in 2021.[10]
References
edit- ^ a b c "Annual Results 2023" (PDF). Empiric Student Property. Retrieved 14 March 2024.
- ^ "FTSE UK Index Series Annual Review June 2023 – Amendment". FTSE Russell. 6 June 2023. Retrieved 16 June 2023.
- ^ "Empiric Student Property plc". Companies House. Retrieved 23 May 2023.
- ^ "Empiric Student Property CEO makes case for new London acquisitions". S&P Global. 14 July 2017. Retrieved 23 May 2023.
- ^ "Tapping students for cash". Money Week. 23 February 2018. Retrieved 23 May 2023.
- ^ "Empiric Student Property dives on dividend cut". Citywire. 23 November 2017. Retrieved 23 May 2023.
- ^ "Attlee takes the reins at Empiric". Property Week. 29 November 2018. Retrieved 23 May 2023.
- ^ "Duncan Garrood appointed new chief executive of Empiric Student Property". Property Week. 29 June 2020. Retrieved 23 May 2023.
- ^ "Empiric Student Property more than doubles profit in a testing 2022". Investors Chronicle. 16 March 2023. Retrieved 23 May 2023.
- ^ "'Hello Student' says goodbye to unwanted properties as Empiric's new broom sweeps in". Citywire. 18 March 2021. Retrieved 23 May 2023.