Blythswood House opened in September 2015 and was built purposely for students of the Glasgow School of Art.

The fund management branch of the investment giant acquired the 216-room Blythswood House, on West Regent Street, from Regional Reit, the property investment trust managed by Glasgow-based London & Scottish Investments.

Richard Marshall, head of secure real estate at SLI, said: “Blythswood House is one of the premier student accommodation properties in Glasgow. The investment fits with SLI’s Long Lease Fund’s strategy of acquiring prime commercial property let to good covenants and benefitting from long, index-linked income.

“The growing student accommodation sector is performing well and we are confident that Blythswood House will deliver the stable returns required by our investors to help match their long term liabilities.”

Regional Reit acquired Blythswood House, formerly an office block, in 2014.