The seven-storey development, on Denby Street in Sheffield city centre, will provide rooms for 535 students in apartments arranged in clusters of four and five. All the bedrooms are ensuite, with each cluster having its own communal living room and kitchen area.
It is being developed by Victoria Hall Management and financed by a fund advised by BlackRock. It will be managed by Victoria Hall’s student operating brand Host.
Liam Le Roux, vice president of BlackRock Real Estate, said: “This is an exciting opportunity to regenerate a neglected site in Sheffield into a high quality scheme with excellent amenity space that will appeal to students. This development is in line with our ongoing aggregation strategy to build out a substantial student accommodation portfolio in the UK.
Work is just starting on site with ground remediation work already being undertaken. The project is scheduled for completion in June 2018.