The facility, agreed at 72% LTGDV and 76% LTC over a 24-month term, will facilitate the delivery of 102 en-suite rooms — three of which will be fully adaptable for disabled students — and five self-contained studios across seven storeys.

The accommodation will feature smartphone-activated door entry systems, king-sized beds, 40-inch HD TV screens, a 1GBps broadband cinema room, state-of-the-art gym facilities, 24-hour security and cycle storage.

Construction for the second phase is currently underway and is expected to be completed in summer 2023.

This is part of the wider Volume Works project, a development that has transformed the site of a derelict former printworks.

The first phase of the scheme — which was also funded by Atelier — was completed last August and fully let within days to 48 students.

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Rav Kudhail, lending manager at Atelier, said: “As students return to campuses across the UK, many are demanding more from where they live — more comfort, security and facilities. 

“Nowhere is that more true than in Birmingham, where we have no fewer than five universities.

“Forward-thinking developers like Volume are responding to that demand with purpose-built accommodation that has more in common with a luxury hotel than the student dorms of old.

“Birmingham’s residential property scene is really booming, and I’ve moved back here from London to spearhead the growth of Atelier’s lending in the West Midlands. 

“We regard the region as a major development hotspot and are keen to play our part in helping get more great homes built.”

Anthony Laville, CEO at Volume.Property, commented: “The student accommodation sector is changing rapidly and today’s students expect a better level of product and service than ever before.

“At Volume.Property, we’ve been pioneering new ways of enhancing the student experience and that’s been clear in our results.

“Phase I of Volume Works was oversubscribed by 150% and we’re expecting demand for Phase II to be even stronger.”