Empiric Student Property has acquired a 107-bed forward funded development in Sheffield for £11m.

The property includes a five-floor office building and a small two-storey building located in the centre of the city.

The development will see the properties converted into 24 units and the construction of three new blocks to provide a further 83 units.

Paul Hadaway, Chief Executive of Empiric Student Property, said: “This acquisition further increases our footprint in Sheffield, a city with two universities and nearly 48,000 full-time students, the 6th biggest student population outside London.

“This will mean that, together with Portobello House, the Group will own 241 operating beds in Sheffield, once all properties reach completion in time for the 2017/18 academic year.

“The increased number of beds in the city will enable Empiric to derive operational efficiencies from the portfolio, as well as moving us closer towards our strategic target of providing 300 to 400 beds in each city or town where we operate.

Hartshead Provincial Apartments Ltd will undertake the construction of the properties on behalf of Empiric.