The project will see Unite take a 70% stake in the partnership and act as developer, asset manager and operator. The university will hold the remaining 30% interest by contributing the land.

Construction is due to start in 2026 with phased delivery in 2029 and 2030. The outdated Cambridge Halls, built in the 1990s, will be closed this year to make way for the new scheme.

The university aims to demolish two low-rise halls of residence, currently housing 770 bedrooms, and replace them with towers and blocks.

This would result in a total of 2,330 student rooms, an increase of 1,560.

The first phase, set to be completed by September 2029, will include 1,126 bedrooms in a 24-storey tower, two 11-storey buildings, and an eight-storey block, according to developer partner Unite Students.

The deal marks Unite’s second university partnership as it looks to tap into growing demand in undersupplied cities like Manchester, where there are 3.6 full-time students per available bed – well above the national average.

Planning is expected to be submitted later this quarter, with the JV formation due around the end of 2025.

Unite has also agreed a separate five-year nomination deal to house 2,550 Manchester Met students at its other sites during the redevelopment.