UK: Revised plans for a £76 million development by student accommodation developer and operator Fusion Group have been minded to grant approval by Glasgow City Council.
The plans will see the construction of a student-led, mixed-use development on the site of the former Marks & Spencer store on Sauchiehall Street.
In addition to the delivery of 619 student beds, the proposals will regenerate Sauchiehall Street, re-establishing the historic arcade link route through to Renfrew Street and creating 9,500 square feet of new commercial space at street level.
Revised plans were submitted by the developer in March after initial proposals were refused by the council’s Planning Applications Committee in November last year.
The new proposals address the comments made by the committee including a reduction in overall height by one storey and significant adjustments on Renfrew Street, which has been lowered by four floors.
The inclusion of affordable accommodation has been increased to 15 per cent.
The approval will be subject to the conclusion of a Section 75 Agreement between Fusion and Glasgow City Council.
Brodie Berman, senior acquisitions associate at Fusion Group, said: “We are delighted that our proposals for Sauchiehall Street have been minded to grant by Glasgow City Council. Having held longstanding ambitions to operate in the city, we are delighted to have reached this milestone, which will see £76 million of investment injected directly into Sauchiehall Street, at the heart of Glasgow’s city centre. Over the past 20 months, we have worked collaboratively with the council to develop a scheme that will make a positive impact on the local community, while also serving to address the shortfall of student beds in the city.
“Despite some challenges, our commitment to delivering a scheme that we truly believe will enhance Sauchiehall Street has been unfaltering, and we look forward to bringing our vision to life as we move to the construction phase of the project,” he added.
The proposals will also see the building’s 1930s art deco façade preserved and reinstated to its former glory, retaining a piece of Glasgow’s interwar architecture.
A spokesperson for Marks & Spencer said: “We are encouraged by Glasgow City Council’s minded to grant approval to reuse our former store on Sauchiehall Street. Delivering long-term activity on the site, the proposals align with our estates renewal strategy and will enable us to make further investment in Glasgow city centre over the coming years.”
