ISG will develop the £33m building located close to Sheffield’s two universities.

It will offer 586 beds, communal facilities, including a central club lounge with extensive balcony on the ninth floor overlooking the city, as well a café, private dining, cinema and gym.

ISG has demolished an existing garage structure on the site, and is set to start the concrete frame in the next few weeks, which will rise to 14-storeys at its highest point.

The building, which fronts Ecclesall Road, will feature traditional masonry, with brick feature panels to its façade.

ISG will also form car parking spaces for seven retail units, which will occupy the ground floor of the new building, with the project scheduled for completion in summer 2019.

Tim Harvey, regional director for ISG, said: “Purpose-built student residential facilities play a hugely important role in the overall housing mix within our cities, and this major project signifies that Valeo has ambitious development plans across the UK.”

ISG has a growing portfolio of keynote student accommodation schemes including a £40m 675-bed scheme in central Cardiff, and a 412-bed £39m mixed-use scheme in the heart of Liverpool.