The car park site, which was bought for £7.4m, will cost £47m to develop and will provide a home for around 700 students along with 10,000 sq ft of retail space, targeted to open in 2016.

The site sits within the Wembley Park regeneration area which will see new homes, offices and shops built around the landmark Wembley Stadium to create a new neighbourhood and community.

It will be developed by the London Student Accommodation Vehicle, Unite’s 50:50 joint venture with GIC, the real estate arm of the Government of Singapore Investment Corporation.

The partners aim to plough an extra £330m into developments in London, equivalent to an extra 4,000 bed spaces.

Richard Simpson, Managing Director of Property for Unite, said: “This development is the third scheme to be secured as part of our LSAV joint venture, representing 65% of our target, and demonstrates Unite’s knowledge and experience in sourcing the best locations for student accommodation.

“As well as being a key milestone in the Group’s development strategy, this site is close to the shops, entertainment and excellent transport links of Wembley Park, including the London Designer Outlet, and will strongly appeal to students.”

Unite has two other major schemes in London where construction work is planned to start shortly.

In East London its £100m Angel Lane project for Stratford is due to start on site later this year for completion in 2015.

Shepherd Construction, Ardmore and McAleer & Rushe are among the firms bidding the high rise job.

The student developer  also  plans a major 990 bed scheme at London Metropolitan University’s Holloway Road campus in North London.

Balfour Beatty’s building arm Mansell is advising on the construction programme for the major complex of four buildings rising to 14 floors on the Holloway Road.

The Stapleton House scheme is expected to obtain planning consent by early 2014 and start on site shortly after.