The company has purchased the former Liquid Envy city centre nightclub amid plans to turn it into a 329-bed student residence on New Bridge Street.
The £37.5 million project includes 209 en-suite cluster bedrooms and 120 studios along with 5,000 sq ft of retail and leisure space.
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Main contractor Robertson Construction will carry out the project on a phased basis.
Tom Gilman, Kier Property MD for the north, said: "This acquisition forms part of our UK-wide strategy to acquire land and property in order to deliver a full range of direct-let student facilities, which we will then retain as an investment.
"The New Bridge Street student scheme builds on our successful track record in the north, and particularly in Newcastle, where we delivered the new Motel One hotel on High Bridge in December 2015, and where we are North Tyneside Council’s development partner for the Swans scheme in Wallsend."
The scheme is expected to be completed in September 2017.
(LM/MH)
