Unite Students has secured a planning consent for a development in the centre of Liverpool for 1,085 student bedrooms.
The total development pipeline, to be delivered in the next three years, is now over 5,000 beds providing further visibility to our earnings growth outlook.
The new scheme will be built alongside our Grand Central student village, which is 99% let for the 2016/17 academic year, and will provide a home for over 2,500 students in the new combined building.
"This will increase our presence in a key market for Unite Students and we will continue to drive efficiencies from the scale of the building and from our new operating system PRISM," the company said.
"The new property will provide a well-located student hub serving the University of Liverpool and Liverpool John Moores University, close to Liverpool's Lime Street station and the new university student campus.
"It is anticipated that the new development will be open in time for the 2019/20 academic year."