The move swells Unite Students’ London development pipeline which now totals 3,200 beds for delivery over the next five years at a cost of over £800m.

Unite said it would start demolition shortly to advance the latest Borough High Street scheme in Southwark, known as King’s Place.

Thye site was formerly owned by Southwark Homes which brought in Sellar as development manager a year ago to advance a student accommodation project replacing earlier plans for a hotel and flats at the Harper Road and Borough High Street site.

Architect Morris and Co has designed the replacement scheme, which will be spread over an H-shaped footprint building rising from 5 to 11 storeys.

The project will include 308 studio flats and 136 en-suite rooms in cluster flats for students, eight key worker residential apartments and a further 18,000 sq ft of workspace accommodation.

Building will rise to 11 storeys

Under the fast-track development plan the project will be ready for occupation in the 2027/28 academic year.

Tom Brewerton, Group Development Director at Unite Students, said: “We are delighted with the acquisition of Kings Place; a high-quality development in a central London location close to a range of London’s leading universities and Borough Underground Station.

“Unite Students is leading the purpose-built student accommodation sector and this new acquisition is an exciting development. The site benefits from full planning permission so allows us to start demolition soon.”

The project will be located on a one-acre site fronting Newington Causeway and Borough High Street.