Maple Grove Developments, a division of the Eric Wright Group, has sold a 0.4 acre development site in Liverpool with planning permission for student accommodation.
The plot between London Road and Seymour Street was sold for £1m to X1 Developments. The site has planning permission for 212 student rooms.
Melissa Green, manager at X1 Developments, said: "The site is situated close to Liverpool Lime Street station, making it an ideal location for students who need to commute home, whilst allowing them to live in close proximity of their place of study and the city centre. We are looking forward to developing the site in 2014 and are confident that the land will provide convenient accommodation and facilities for students in the area."
In partnership with X1 Developments, the project has been re-branded as X1 The Edge and is being sold through leading North West property investment firm Knight Knox International, a specialist in the UK student accommodation and buy-to-let sectors.
Units start at £54,950 for a standard en-suite room and pre-launch sales indicate that interest from investors is already high, particularly from the Asian and Russian markets.
Andrew Dewhurst, director of Maple Grove Developments, said: "We were very pleased to secure the sale and planning consent for what will be a prominent and eye catching building for students."
O'Connell East Architects in Manchester advised Maple Grove Developments and secured planning permission. DK-Architects in Liverpool has been appointed by the developer.