Board of major student landlord agrees takeover of rival

Empiric’s Hello Student brand will be handed over Unite, which is tailored to second and third-year undergraduates, as well as postgraduate students – a demographic not typically served by traditional purpose-built student accommodation providers.

The deal also supports Unite in expanding its portfolio, helping it achieve better growth opportunities, as well as attracting a wider range of students faster and in larger numbers without building new properties.

The deal is expected to be completed by the second quarter of 2026.

At the initial proposal, Empiric’s board had agreed with Unite to enter an initial period of due diligence, suggesting the bid is in the region of what it would consider accepting. But it said “there can be no certainty that an offer will be made”, or what the final terms would be.

Earlier this year, both landlords reported that their schemes were not let as quickly for the next academic year so they had been trying to concentrate their properties in the highest-performing university cities.

Unite also recently pulled out of Aberdeen entirely, while selling off nine schemes across the UK to private equity firm Lone Star Funds.

Mark Pain, chair of Empiric, said: “Unite has identified Empiric’s differentiated proposition through its Hello Student brand, as well as its focus on returner and post graduate students, as clear strategic pillars through which to grow its business.”