A 650-bed residence for King’s College London students is being built by developer and student accommodation operator Urbanest, funded by a £125m financing deal with M&G Investments.

Known as UrbanestCity, the development will also provide 60,000 sq. ft of office accommodation alongside an incubator space for King’s College London's Entrepreneurship Institute and its start-up enterprises.

The Aldgate development will sit above the remains of a bastion tower and part of the 4th century wall that once encircled the Roman City of Londinium.

Vicky Skinner, chief financial officer at Urbanest, said: 'This is Urbanest’s most ambitious student-led mixed-use development to date, providing a unique blend of student housing, heritage, entrepreneurial innovation, commerce and leisure space uses which will sit alongside and complement each other in the completed scheme.'