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Empiric Student Property Trust Essay

856 Words4 Pages

Empiric Student Property Trust, a serious contender in the UK student housing market

• Overview of the student housing industry in the UK
• Factors effecting the industry
• Detailed analysis of the Empiric Student Property Trust
The growth of student housing industry is directly correlated with the growth of student enrolments in education programmes. There are more than 160 universities in the UK, including the top names such as Oxford, Cambridge, Imperial College, London School of Economics and King’s College. According to the Universities UK, an advocacy organization for universities, the nation is considered as one of the top choices by students followed by the United States for higher education. In 2015-16, 2.28 million students enrolled …show more content…

ESPT was operating with 12 properties (1,556 beds) at the time of its IPO in June 2014. It has since then scaled its operations to 8,700 beds with over 89 properties by June 2017. The company focused on providing premium accommodation for the target segment of students, who were beyond their first year of study and fall under upper quartile income range and built a strong portfolio by acquiring developed or underdeveloped properties. The growth numbers of the company after its IPO were exemplary and the revenue rose by 160% in 2016 as compared to 2015. Source: Televisory’s Research
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Source: Televisory’s Research
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Source: Televisory’s Research

Further, even though ESPT is a new player with a presence in the premium services category, it achieved an occupancy rate at par with the largest player in the industry, the Unite Group. In addition, ESPT has always fetched a significantly higher average revenue per bed than that of Unite Group as its portfolio is skewed towards premium accommodation. Source: Televisory’s Research

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Consequently, ESPT witnessed a sharp growth in its revenue at a CAGR of 90% during 2014-17 against ups and downs witnessed by the Unite Group in the same period. Source: Televisory’s Research …show more content…

This makes Empiric’s premium accommodations more attractive and the company may continue to operate at full occupancy rate in the near future. A change in student visa and immigration rules affects enrolments for the UK study programmes. The number of students from India dropped recently, but students from China, the United States and Hong Kong ascended. This was a positive sign for Empiric. There is also a speculation that Brexit can pose a major challenge for the student housing industry. However, Televisory believe that a decline in the value of the pound sterling due to British exit can turn the UK into an attractive destination for international

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