Tri7 and joint venture partner Fusion Group have received planning permission from Leeds City Council for a purpose-built student accommodation-led scheme in the centre of the city.
Located on the site of The Core shopping centre, the Corstorphine & Wright-designed scheme comprises three connected buildings of between five and nine storeys, offering 807 student bedrooms in addition to 36,000 sq ft of retail and commercial space at ground level.
Tri7 and Fusion Group are targeting an EPC A rating and BREEAM Excellent for the PBSA space and BREEAM Very Good for the retail space.
Tri7 acquired The Core in July 2021 as part of its value-add real estate investment strategy.
Dan Green, partner at Tri7, said: “This development in the beating heart of the city centre will provide a benchmark for student living in Leeds and beyond. It will deliver best-in-class student accommodation, surrounded by shops, cafes, restaurants and bars, that also improves the public and community space around it.
“With significant capital to deploy on bed-led regeneration opportunities in town and city centres across the UK, we’re eager to explore similar such mid- and long-term acquisitions, particularly where they could involve achieving complex planning permissions, in order to drive value to our investors.”
Paul Miles, construction director at Fusion Group, added: “Achieving planning permission on this scheme is a reflection of the commitment from our team to create a truly exceptional development that benefits both its future residents and the people of Leeds through much improved public realm and commercial space.
“With Fusion’s typical focus on designing for positive living, we look forward to beginning construction on a scheme that will support residents to enjoy an active lifestyle, excellent focused study spaces, and an all-around well-balanced time throughout their academic years.”
