Empiric Student Property has exchanged contracts on Provincial House, a 107 bed forward funded development in Sheffield, for £11 million.
It will buy the freehold to the site, next to the University of Sheffield’s north campus.
The site currently consists of the vacant and listed five storey Provincial House office building, alongside an adjacent two storey building.
The development will involve the conversion and refurbishment of the entire property into 24 units, together with the construction of three new blocks to provide a further 83 units.
Hartshead Provincial Apartments will undertake the construction, which is scheduled to complete in summer 2017.
