Empiric Student Property has announced the acquisition of a site in Stirling.

The student accommodation specialist plans to develop approximately 200 beds comprising a mix of studios and apartments on part of the site.

The site is located in the Forthside Regeneration Area and has planning consent for 214 residential apartments.

Empiric say it is likely that the balance of the site will be developed as a residential scheme with the opportunity to share infrastructure costs.

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Paul Hadaway, Chief Executive of Empiric Student Property, said: "Stirling is a thriving, compact and welcoming city with a wide range of commercial and cultural facilities. The University of Stirling has over 11,000 students (HESA 2013-14) of whom over 30% are postgraduates. This is the Group's first investment in Stirling, which has a very limited supply of purpose-built student accommodation.

"The city is also a 45 minute train journey to Glasgow, which will facilitate joint management opportunities with the Group's operations located there. The acquisition is in line with Empiric's investment criteria and returns profile."

(LM)