I found out some more information about the new accommodation, Sherbourne. The entire area will compromise of 6 buildings each 4-storey. There will be 8 flats per building and 13 people per flat, in a style of 11 single rooms and 1 double room. (All en-suite).
There will be an 8 person lift and a staircase in each building. There is a kitchen per flat (hence shared by 13 people) however it seems there are going to be 2 cookers and 2 sinks per kitchen. Each building and flat will have a key-card system to gain access to it - I'm not sure about the rooms though.
It will be located just north of the Lakeside accommodation (just across Scarman Road from it actually) and will be between the Tennis Courts and Lakeside Apartments. It is estimated to be just over 15 minutes from the Students Union.
It will be £117 for 2012/2013 entry. And a 39 week let.