The developer is Crosslane Student Developments, part of the Crosslane Group.
The site will be built up into a student accommodation development comprising three residential blocks of six, seven and eight storeys. The brick and glass development will have 144 studios and 293 en-suite cluster flats, along with shared facilities and a landscaped internal courtyard.
Construction work will start in November 2015 and Crosslane is aiming for completion in time for the 2017/18 academic year.
Crosslane Student Developments bought the site, known as Princess Works, earlier this year from local investment company Bolsterstone Group. Princess Works, on the corner of Shepherd Road, Allen Street and Scotland Street in Sheffield’s St Vincent’s Quarter, was once a brass foundry, but it closed in 1972. Since 2005 the site has had various temporary occupants, Crosslane said.