Hammerson is pushing ahead with its build to rent strategy as it works up plans for Highcross Shopping Centre in Leicester.
The retail landlord is pursuing proposals for 350 homes in up to 15 storeys, on the 1.1-acre site of the former Debenhams in the city centre.
Last year it appointed Fiera Real Estate’s Packaged Living as development manager to help turn the vacant retail space into a high quality rental scheme.
Initial plans propose a mix of studio, one, two and three-bedroom flats in a courtyard-style development surrounding a central communal garden. It is proposing a single building rising from eight storeys on East Bond Street to a peak of 15 storeys on St Peter’s Lane.
Leicester has an established BTR market, with schemes from Long Harbour, Delph Property and Cording Real Estate.
The development comes as part of Hammerson’s broader plan to reduce the amount of floorspace occupied by department stores and other challenged retailers at its top properties.
It follows BTR proposals in Birmingham as part of the 1,300-home redevelopment of Martineau Galleries in Birmingham and a push in Ireland at Dublin’s Dundrum Town Centre, under the City Quarters brand.
A full planning application for Leicester is expected in early 2021.
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