Student flats operator sells Stirling development

Student property operator Empiric has agreed to sell a development site in Stirling in a £2 million deal.

The group said yesterday that it had exchanged contracts to sell the freehold of the Forthside Way site in the city, with the disposal expected to complete on 27 November.

The site was acquired by the group in 2015, subject to achieving a student accommodation planning approval. It now has detailed planning permission for a 208-bed development.

Paul Hadaway, the chief executive of Empiric Student Property, said: “The sale of the Forthside Way site follows an operational review. Our current focus is on building critical mass in our target cities.”