The development arm of Bouygues UK (Linkcity), working in consortium with Equitix, will provide investment and develop plans for the build.

The new accommodation will be positioned behind the Tate Modern art gallery, and will provide up to 2,000 new student rooms.

Construction is expected to start on site in 2026, with completion earmarked for 2030, ready for students to move into at the start of the academic year.

LSE will now work in conjunction with Bouygues UK-Equitix to select a design team and work up proposals for a planning application in early 2025.

Oliver Campbell, Development Director at Linkcity said: “In line with LSE’s values, we will be putting climate and diversity at the heart of this project in order to deliver a vibrant, sustainable and truly inclusive space for students coming to live and study at LSE from across the world.

“We are delighted to been named preferred student accommodation partner and together with our partner Equitix, with our large portfolio of student accommodation across the UK, we’re excited to get started on this project for such a highly-revered and forward-thinking university.”

Hugh Crossley, Chief Executive for Equitix, said: “Working in partnership with Bouygues UK, we are supporting foreign direct investment into the UK. We look forward to coming together again to create what we believe will be a landmark campus for this world-renowned institution.”

Julian Robinson, LSE Director of Estates, said, “We are excited to be working with Bouygues UK and Equitix on this project. This new building will form a key part of the LSE brand and identity.

“We will be looking for an exemplary piece of civic architecture which is affordable for all LSE students, focuses on environmental sustainability, health and wellbeing and offers an outstanding student experience.”