Global Mutual seeks Leeds PBSA conversion
A public consultation has ben launched by the investor, which wants to bring close to 300 student bedspaces to former offices at the St John’s Centre.
The proposals would see the development of 287 student bedrooms arranged as either studios or cluster bedrooms. The central courtyard of the shopping centre, currently used for car parking, would be transformed into a private garden.
Global Mutual said that the creation of a new student community within the St Johns Centre would support retailers at the centre, increasing customer footfall. A public exhibition will take place on the mall at the centre on Thursday 18 April between 11am and 5pm.
Global Mutual is a European and US real estate business founded in 2008 and headquartered in London. The business specialises in real estate investment and asset management on behalf of local authority, institutional and private capital, with £5bn of assets under management.
The firm bought the St Johns Centre, which sits between the Headrow, Albion Street and Merrion Street, in December 2021 alongside Patron Capital.
Around 25 stores trade from the retail part of the centre, across two floors.
Senior development manager at Global Mutual, Brett Radley, said: “As student numbers continue to rise, there is a continued demand for new student accommodation to support the vibrancy of the city’s universities and reduce the pressure on family housing from students in search of somewhere to call home whilst they study.
“This part of the city centre has become increasingly popular for the development of new student accommodation, given its location close to university campuses, city centre amenities and Leeds train station.
“Sustainability is central to our plans, which is why we’re aiming to convert and repurpose the existing office space, rather than demolish it and start again. This will significantly reduce the carbon emissions that are typically associated with new major building projects
“We’d like to encourage all those interested to find out more on Thursday 18 April.”
Other PBSA projects advancing in the northern part of Leeds city centre include Q Investment Partners’ 88-bedspace project in Merrion Street, which topped out last month, and YPP’s 20-storey Live Oasis St Albans Place, which was completed in January.
Close by, Tri7 and Fusion Students now have consent to redevelop The Core shopping centre site in an 800-bedspace student living development.
