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18th Jul 2018
More student accommodation might be heading its way to Plymouth, with developers planning to construct up to 600 student beds.
Although hundreds of workers currently occupy the building, an initial design for the Moneycentre site has been submitted to the council by Pegasus Group.
The plans call for the construction of a 100-bed hotel, along with offices, retail units and a 600-bed block of student accommodation.
It would also result in the exterior of the building being overhauled to bring it in line with buildings located alongside it.
Development work isn't expected to begin anytime soon, as the building is still in use, however a number of employees working at the Moneycentre have already been made redundant with further layoffs understood to be likely.
Plymouth planning officers received a screening opinion for the site, with a full planning application expected to be submitted sometime in the future.
According to developers Pegasus Group, the site has clear potential to provide a building of "high architectural quality".
The application stated: "The application site, known commonly as the Moneycentre, is a nine-storey office building located within a prominent position at the cross-section between Drakes Circus, Cobourg Street and Mayflower Street.
"Given the site's prominent location at the eastern end of Mayflower Street, adjacent Cobourg Street, the site has clear potential to provide a building of high architectural quality that acts as a visual point of interest aiding legibility within the city centre."
It added: "Plymouth University campus is located immediately to the north of the site, the other side of Cobourg Street. The site is a highly sustainable location, with the main city centre retail provision immediately to the south which includes a number of shops and services."
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