UK: Investment manager Orchard Street has received planning consent to convert the former Debenhams department store in Leeds into a PBSA-led mixed-use scheme.
The property will be converted into 124 studio flats on the upper floors and 45,000 square feet of retail space on the basement, ground and first floors.
The listed building’s architecture will be preserved and a fifth floor added. Features also include a rooftop sky lounge and a wellness courtyard. The scheme is due to complete in the second half of 2023.
A PBSA operator will be appointed shortly.
Marcus Mann, asset manager at Orchard Street, said: “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.”
