Planning approved for Tri7 and Fusion Group’s Leeds PBSA

Tri7, a UK real estate investment firm, and Fusion Group, a leading student accommodation developer, have obtained planning permission from Leeds City Council for a new PBSA scheme. The development, located at The Core shopping centre site, will comprise three interconnected buildings spanning five to nine storeys, delivering 807 student bedrooms with a focus on wellbeing.

The plans involve 36,000 sq ft of ground-level retail and commercial space, including new arcades enhancing city centre connectivity. Designed by Corstorphine & Wright, the scheme aims for top environmental ratings for both PBSA and retail spaces, featuring eco-friendly elements such as low-carbon air source heat pumps and water-efficient fixtures. Tri7, pursuing a value-add real estate investment strategy, acquired The Core shopping centre site in July 2021 and aims to invest £250m in similar regeneration projects in UK towns and cities with Russell Group universities.

"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."

Paul Miles, Construction Director, Fusion Group

"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."

Dan Green, Partner, Tri7