The student accommodation owner and operator intends to redevelop the 3,400 sq m building and 65 car parking spaces into a 100+ bed premium student accommodation.

The scheme will offer a mix of studios, two-bedroom apartments and townhouses as well as amenity space including a central reception area, large common and games room, reading rooms, a gym and offices.

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Paul Hadaway, chief executive of Empiric, said: "Bristol is a prime location for the group, and the St Mary's Hospital site is ideally situated to target students at the University of Bristol. 

“The university is planning for significant growth across the city, and suffers from a shortage of good-quality student accommodation. 

“This will be Empiric's third asset in Bristol, resulting in a portfolio serving circa 0.7% of Bristol's full-time student population when complete, helping to relieve the city's supply-demand imbalance. 

“This acquisition is in line with Empiric's investment criteria and returns profile."

The St Mary's Hospital site is located on the edge of the University of Bristol's main campus in Clifton, near to the group's two existing schemes: College Green, and William and Matthew House.

Empiric intends to begin development of the scheme in Q3 2018 and it will be marketed and managed by Hello Student.