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Student accommodation developer Unite said it had exchanged contracts to acquire a new 620-bed development site in Nottingham.
The direct let development, subject to planning consent, would open in time for the 2022/23 academic year.
Total development costs were estimated to be £48m, which Unite said would deliver a development yield in line with its stated targets.
'This latest acquisition reflects our strategy of aligning our business with mid and high tariff Universities in cities where there is strong demand for affordable, high-quality student accommodation,' property director Nick Hayes said.
At 9:19am: (LON:UTG) Unite Group PLC share price was +13.5p at 1045.5p