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Empiric to create student flats in Nottingham

Empiric to create student flats in Nottingham

A historic Nottingham location known as the Frontage has been purchased by developers Empiric Student Property for a total cost of £18.4 million. The company now intends to spend more money on transforming it into high-quality student accommodation.Located on Queen’s Street, the existing building is a block of 1980s offices, fronted by a neoclassical Grade II-listed facade that dates from the late 19th century. At the time of construction, the facade alone cost £98,000. When completed, the redevelopment will offer beds to 162 students across 152 single and double studio flats.The ground floor will be turned into a trio of commercial units that the developer hopes will attract restaurant businesses with their elegant exterior and central location.Construction is expected to begin next month, and will be overseen by Frontier Estates on behalf of the development company. The project was granted planning permission by Nottingham City Council in July 2015.The Frontage has long been a local landmark, as it served as Nottingham’s General Post Office from 1898. It was also used as the headquarters of Regional Air Raid Precautions during the Second World War.Paul Hadaway, chief executive officer of Empiric Student Property, said: "This forward funded development represents the company's third investment in Nottingham, a city which is home to two universities as well as a number of other higher education institutions."The increased number of beds in the city will enable increased operational efficiencies to be derived from the portfolio as well as moving us closer towards our strategic target of providing 300 to 400 beds in each city or town where we operate. This acquisition is in line with Empiric's investment criteria and returns profile." When completed, the redevelopment will bring Empiric Student Property’s total number of student beds in Nottingham to 337. The flats are set for completion in time for the start of the 2016/17 academic year, and are aimed at students from Nottingham Trent University. 

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