Singapore's Wee Hur is planning to create its second student accommodation facility in Adelaide with a $90 million development after taking over a site on Waymouth Street in the central city.

After snapping up a 1836 square metre site at 124 Waymouth Street for $9.275 million, the Singaporean is now eyeing a 721-bed facility which it aims to complete by late 2021.

Selling agents for the privately held site were Colliers International's Oliver Totani and Alistair Mackie.

A vision of the student accommodation facility that Wee Hur plans for on Waymouth Street. supplied

It will become Wee Hur's second facility in Adelaide, with the first, a 772-bed facility in Gray Street, due for completion in 2019.

The Waymouth Street site was secured in an off-market acquisition by Sydney property services group Intergen Property Group, which has been given a mandate to invest $700 million in building out Wee Hur's Australian-focused Purpose-built Student Accommodation fund.