Student accommodation developer Unite has acquired a new development site in Manchester.

The deal, worth £41 million, sees the company take control of a site located close to the University of Manchester, which could potentially accommodate around 450 students.

Unite said the acquisition increases its development pipeline to around 7,500 beds. The development is expected to be built in time for the 2020 academic year, increasing Unite's Manchester portfolio to 2,800 beds.

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Richard Simpson, Group Property Director, said: "This acquisition extends our high-quality development programme in a strong regional location where there is growing demand for purpose built student accommodation. Manchester is a thriving student city which we expect to continue to attract high numbers of students. We look forward to working with the local Universities to help meet the strong demand for high-quality student accommodation."

(LM/MH)