Hammerson announces build-to-rent scheme for Leicester, transforming former Debenhams store
Hammerson has announced plans to bring forward a build-to-rent residential scheme at Highcross in Leicester city centre.
The development would see part of the former Debenhams department store at Highcross, transformed into new high-quality homes and major improvements for New Bond Street, where the entrance will be located.
On completion, the scheme will provide over 300 new homes and improved public realm for the city alongside resident amenities including co-working spaces.
The retail frontage on the shopping destination at Highcross will be retained and the space transformed into smaller and more flexible space for retail and leisure brands.
Mark Bourgeois, Managing Director UK and Ireland at Hammerson, said: "Today’s announcement is another example of the steps we are taking to manage the structural shift in retail whilst maintaining the vibrancy at our flagship destinations through a diversified offer and mix of uses.
"This exciting project will meet demand for rented accommodation in Leicester city centre and ensure Highcross remains an exciting destination for visitors, whilst supporting local businesses and boosting footfall."
Hammerson is working with private-rented-sector specialist Packaged Living to develop the plans prior to final submission of a planning application early in 2021.
Mark Woodrow, Joint Managing Director at Packaged Living added: "We are delighted to be working with Hammerson and share their vision for a vibrant mixed use community in an excellent city centre location. The combination of Hammerson’s vision and Packaged Living’s experience in delivering thousands of build to rent homes provides a strong basis for a successful relationship."