Partners advance 800-bed Leeds student living plans
Investor Tri7 and its joint venture associate Fusion Students intend to redevelop The Core shopping centre off the Headrow.
The shopping centre will be demolished as part of the redevelopment, to be replaced by three buildings of between five and nine storeys, containing 807 student bedrooms and around 36,000 sq ft of retail and commercial space at ground level, including two new arcades.
Costorphine & Wright is the architect for the project, which the developers said will bring improved public realm and further improve east-west connectivity from Lands Lane to Albion Street.
Consultation included two public events plus discussions with Leeds City Council, the Civic Society and Historic England.
Tri7 acquired The Core in July 2021 as part of Tri7’s value-add real estate investment strategy alongside equity partner Alchemy.
The property investor and asset manager is actively seeking to invest £250m for similar bed-led (PBSA and build-to-rent) regeneration schemes in UK towns and cities with Russell Group universities.
Samuel Castle, partner at Tri7, said: “Our plans for this design-led scheme, shaped by extensive consultation with the community, will create beautiful and amenity-rich homes for students and a vibrant commercial offering.
“Located in the heart of one of the UK’s best cities for students, it represents exactly the type of opportunity that we seek to deploy our capital in – and the type of bed-led city centre regeneration development that the government just last week argued was a major part in tackling the UK’s housing crisis.
“We’re eager to continue working alongside to Fusion Students, the council and the community to deliver this first-class scheme.”
Ben Henry, acquisitions director at Fusion Students, said: “This truly stunning development, designed by a world-renowned architecture practice, will set the standard in the area, bringing high-quality modern architecture that complements the city centre’s historic buildings.
“Our ethos is to design spaces for positive living, and working alongside our partners at Tri7, the city council and the community, we’re looking forward to progressing the scheme and creating much-needed new student homes in a city that remains deeply attractive to learners from across the UK and the world.”