Tri7 and its joint venture partner Fusion Group have secured planning from Leeds City Council for an 807-bed purpose-built student accommodation development in Leeds.
Under the approved plans, the jv would develop three connected buildings of between five and nine storeys. The plans were submitted in September 2023.
The scheme would be located on the site of the Core shopping centre, which will be demolished as part of the redevelopment. The new plans include the provision of 36,000 sq ft of retail and commercial space at ground level, including two new arcades.
The Corstorphine & Wright-designed scheme will target an EPC A rating and BREEAM Excellent for the PBSA space – in line with both partners’ wider ESG targets – and BREEAM Very Good for the retail space.
It will feature low-carbon air source heat pumps, low water consumption fixtures and fittings, and low energy and controlled ventilation and lighting.
Tri7 acquired the Core in July 2021 as part of its value-add real estate investment strategy that includes investing £250m for similar bed-led regeneration schemes in UK towns and cities with Russell Group universities.
Tri7 partner Dan Green said: “With significant capital to deploy on bed-led regeneration opportunities in town and city centres across the UK, we are 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.”
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Image © Corstorphine & Wright
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