A 237 bed purpose-built student accommodation development is to be delivered via a partnership between Crosslane Student Developments and Unite UK Student Accommodation Fund (USAF) at Lutton Place, Edinburgh.

The freehold of the site, which is located in central Edinburgh, was acquired from the City of Edinburgh Council by Crosslane Student Developments in December 2015 for £6.2m and is a 10 minute walk to the main campus of Edinburgh University. The development, which is already under construction, is a short walk to the Royal Mile and Edinburgh's city centre and main train station, Edinburgh Waverley.

Jon Stewart, Director of Crosslane Student Developments, said: "We identified the site at Lutton Place as a prime location for purpose-built student accommodation in Edinburgh. This partnership with USAF is consistent with our strategy to deliver an outstanding pipeline of high quality new build student accommodation assets to the buoyant UK market and of delivering optimal returns to our investors. We continue to assess potential opportunities to further grow our successful student accommodation business in the UK and Edinburgh itself, a city with limited purpose-built student accommodation."

The new city centre scheme will comprise 44 studios and 193 cluster flat bedrooms ranging from three to nine beds with communal facilities including a common room, meeting space, gym and bike storage.

David Faulkner, USAF Fund Director, said: "Edinburgh continues to develop as a thriving university city, attracting students from across the UK and internationally. Students continue to be important contributors to the local economy and this development will help ease pressure on private residential housing in the area."

Completion of the scheme is due in summer 2017, in time for the 2017/18 academic year.