Unite Students Accommodation Fund (USAF) has acquired Brass Founders in Sheffield for £35.5 million, with Unite's share valued at £8.4 million.

The 437-bed site is located on Scotland Street and is in close proximity to the University of Sheffield and the city centre. The 437 beds are fully let for the 2017-18 academic year.

The acquisition supports the company's strategy of aligning alongside quality universities in the UK. The University of Sheffield is ranked 13th in the UK according to the Times Higher Education rankings and was awarded a silver in the Teaching Excellence Framework (TEF).

Commenting on the purchase, Richard Simpson, Group Property Director at Unite Students, said: "This acquisition demonstrates our strategy of building and acquiring quality student property close to high-ranking universities, where student numbers are growing. We have existing relationships with universities in Sheffield and we are confident that Brass Founders will provide students with a quality, affordable home in a great location."