AEW has received a resolution to grant planning permission to transform the former Debenhams department store in Bristol into a residential led mixed-use development.
The project, which has been designed by AWW Architects, will transform the site on the edge of Bristol’s Broadmead shopping district into more than 500 new rental homes – 100 of which will be affordable.
The scheme will also feature a new pedestrianised, tree-lined street, comprising retail and hospitality space, with 10% of the retail space made available to local independent businesses at an affordable, discounted rent.
The property was acquired in 2022 by AEW’s Urban Real Estate Fund – its second value-add vehicle – which has a strategy of repositioning underutilised retail spaces to support the regeneration of town centres.
Charles Royle, portfolio manager at AEW, said: “This is an important new landmark scheme for Bristol, providing much needed private and affordable housing, and a huge step forward in the regeneration of the site and wider Broadmead area.
“We saw an opportunity to regenerate this underutilised urban building and invest in the creation of a vibrant new area offering a mix of rental housing, as well as retail and community spaces, including the new landscaped Barr’s Street. With four communal roof terraces, excellent amenities, and the connection to the Bristol Heat Network, it will be a model scheme for Bristol.”
AEW was advised by Savills.
