Green light for more than 800 beds of city centre student accommodation

A major student accommodation project for central Leeds has gained planning permission.

Leeds City Council has given consent to Tri7, a specialist real estate investment and asset management firm, and its joint venture partner Fusion Group, one of the largest privately owned student accommodation developers and operators in the UK.

Under unanimously approved plans, Tri7 and Fusion Group will deliver three connected buildings of between five and nine storeys containing 807 student bedrooms.

Located on the site of The Core shopping centre, the partners will also create 36,000 sq ft of retail and commercial space at ground level, including two new arcades which will improve east-to-west connectivity from Lands Lane to Albion Street. The project will be designed by architects Corstorphine & Wright.

Tri7 acquired The Core in July 2021 as part of its value-add real estate investment strategy.

It is seeking to invest £250m for similar purpose built student accommodation and build-to-rent regeneration schemes in other UK towns and cities with leading universities.

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.”