The company was appointed by HG Living to deliver the project after exchanging contracts with Q Investment Partners (QIP).
The development will include a mix of studio and cluster flats, as well as study rooms, a gym and a cinema. The scheme also includes an external courtyard.
The site is located within the city's urban quarter and is close to the 24-acre 'Newcastle Helix' innovation district as well as the University's Business School, Urban Sciences Building and INTO centre.
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The new scheme aims to meet the demands of an annual student population of 50,000 consisting of students from two universities.
Commenting on the appointment, HG Living Director Craig McPhail said: "We are delighted to have secured our fourth deal with QIP and would like to thank them for their efforts and partnership approach in reaching this agreement. This partnership approach will extend across our supply chain with HG Construction as the main contractor, enabling us to offer enhanced management of the construction and development risk and deliver a seamless end-to-end service for our funding partners.
"This is an exciting opportunity to develop a best-in-class facility for the ever-growing student population in Newcastle. Not only is it one of the UK's top university towns, Newcastle is also one of the most vibrant and inclusive cities for students to live in, offering a wide range of restaurants, bars, shops and facilities to enjoy. The sale is further evidence of the investment market returning and of the attractive investment and operational fundamentals offered by both the PBSA sector and by Newcastle as a city."
