Retail Future? Debenhams store to become 338 flats to rent

9 December 2020 | Renting

Retail Future? Debenhams store to become 338 flats to rent

One of the biggest commercial property operators in the country is to build 338 apartments to rent on the site of a vacated Debenhams store.

Hammerson, owner and manager of a city centre shopping complex in Leicester, has announced plans to create 199 one-bedroomed, 118 two-bedroomed and 21 three-bedroomed apartments on the site – some in what was the store, and some on nearby land.

They are likely to be Build To Rent units managed by BTR operator Packaged Living.

Hammerson is also planning to turn the remainder of the former Debenhams into ‘flexible’ retail units, smaller in size and suitable for a range of retail and semi-retail purposes.

“The vision for the site is to bring forward a high-quality residential-led development which will add to the vibrancy of the local area and complement the retail offer” says the company.

“On completion, the scheme will provide new rental homes and improved public realm for the city alongside bespoke resident amenities including lounges, roof terraces and co-working space.”

Mark Woodrow, joint managing director at Packaged Living, says: “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 BTR homes provides a strong basis for a successful relationship.”

This post has originally been featured in Letting Agent Today.