The real estate investment trust GCP Student Living Plc has announced the acquisition of a new student accommodation development near Wembley Stadium in London.

The block of accommodation will sit adjacent the stadium and will consist of purpose built private student accommodation built to a high specification. In total the facility will come equipped with beds for around 580 students and will feature communal areas, subject to planning permission.

According to GCP most of London's universities will be within 30 minutes' reach from the site due to the public transport links at Wembley Park Station.

The development of the site will be carried out in conjunction with Scape Student Living, who specialise in luxury student accommodation and already boast to having similar high-spec properties in Greenwich and Shoreditch.

According to the directors of the company London still retains a supply-demand imbalance for private student accommodation, which is driven by strong domestic and international demand from students.

GCP is hoping to have Apex House fully operational in time for the 2017/18 academic year.