The developer has secured funding with Singapore-headquartered Q Investment Partners (QIP) for the 350-bed scheme at St James’ Boulevard near Newcastle University.

HG Living Director Craig McPhail said: “We are delighted to have secured our fourth deal with QIP and would like to thank them for their efforts and partnership approach in reaching this agreement.

“This partnership approach will extend across our supply chain with HG Construction as the main contractor, enabling us to offer enhanced management of the construction and development risk and deliver a seamless end-to-end service for our funding partners.

“This is an exciting opportunity to develop a best-in-class facility for the ever-growing student population in Newcastle.”

Peter Young, CEO of QIP, added: “St James’ Boulevard, the second student scheme in the £200m build-to-core UK student housing venture between QIP and property investment group, Soilbuild, is testament to our position as a leading firm specialising in Global Residential Living.

“We are delighted to partner with HG Living once again, and this latest collaboration not only reinforces our unwavering commitment to the sector but also enables QIP to leverage our established platform scale to cater effectively to the growing demand for exceptional student accommodation in the UK.”

The development is due to complete in summer 2025 and will be operated by the Prestige Student Living Brand of Homes for Students.