£35m residential site planned for Sheffield

A STUDENT accommodation provider is pumping £35m into a residential development in Sheffield following the acquisition of a city centre site.

Developer Unite Students has exchanged contracts to acquire a development site, subject to planning.

If completed, it will deliver accommodation for 570 students.

Unite said the £35m development will be funded internally and will be delivered for the 2019/20 academic year.

The new development will increase the number of Unite beds in Sheffield to around 4,300 across nine properties.

Richard Simpson, group property director for Unite Students, commented: “This acquisition extends our high-quality, development programme in a strong regional location where there is growing demand for purpose built student accommodation.

“Sheffield is a key city for Unite and we will be able to drive efficiencies from our scale and enhance services to our customers and university partners.

“We continue to see good opportunities to secure land alongside leading regional Universities to supplement our development pipeline for delivery in 2019 and 2020.”