Orchard Street Investment Management has received planning approval from Leeds City Council to transform the former Debenhams store on Briggate in Leeds into a new student-led mixed-use asset.
The development will see the former department store repurposed to provide 124 high-quality studio apartments while the basement, ground and first floors will offer c.45,000 sq ft of prime, flexible retail space in the heart of the city’s shopping district.
The scheme, which is due to complete in the second half of 2023, will preserve the listed building’s architecture while adding a fifth floor, redeveloping the fourth floor and comprehensively refurbishing the interior to include a modern atrium running throughout the centre of the upper floors.
The mixed-use asset scheme has been designed to meet the demand from the city’s high student population, driven by its five city-centre universities, with more than 38,000 university students currently unable to access purpose-built student accommodation.
Located at the centre of the city’s vibrant shopping and leisure district, and within walking distance to the different universities, students will be minutes away from the city’s strong line-up of cultural and commercial attractions and public transport links.
Marcus Mann, Asset Manager at Orchard Street, commented: “Redeveloping the former Debenhams will give the property a new lease of life, while providing a high-quality offering that meets the rising need for purpose-built student accommodation in the City Centre. This project will allow us to revitalise what remains a strategically placed asset whilst adding vibrancy to the area and complementing the commercial offer.”
