Global law firm Ashurst is advising Lazard on the recommended cash offer for Empiric Student Property plc (Empiric), announced 14 August 2025. The acquisition will be made by The Unite Group plc (Unite) and values Empiric's entire issued and to be issued ordinary share capital at approximately £723 million. Lazard is acting as the lead financial adviser to Unite.
Empiric is a FTSE 250 UK REIT listed on the equity shares (commercial companies) category of the Official List. Empiric owns a portfolio of 74 purpose-built student accommodation (PBSA) assets in prime regional cities.
Unite was founded in 1991 in Bristol and has grown to become the UK's largest owner, manager, and developer of PBSA. Unite provides homes to 68,000 students across 152 properties in 23 leading university towns and cities.
The Ashurst team is being led by partners Karen Davies and Tim Rennie, supported by senior associate Colin Bugler, associates Shashtika Sundar and Charlotte Steward.
