16th Mar 2021 17:59
(Alliance News) - Hammerson PLC on Tuesday said it has submitted plans to turn a once flagship Debenhams retail store in Leicester into a 300-unit residential complex.
Hammerson shares closed 13% higher at 41.70 pence each in London on Tuesday. In Johannesburg, the stock rose 12% to ZAR8.54.
The former Debenhams store at the Highcross shopping centre will be turned into new homes for rent, under proposals drawn up by the property firm and private-rented-sector specialists Packaged Living.
The plans have been submitted to Leicester City Council.
"The submission follows a virtual public consultation which took place at the end of last year, where members of the local community were invited to view the plans and attend a virtual community meeting and Q&A session with the project team," Hammerson said.
"On completion, the scheme will provide over 300 new homes and an improved public realm for the city alongside bespoke resident amenities including a roof garden. Sitting at the heart of the community, residents will be minutes from the city's strong line-up of cultural and commercial attractions and public transport links."
Department store chain Debenhams started a liquidation process in December after failing to secure a last-minute rescue sale.
By Eric Cunha; [email protected]
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