100MC: Plans for 37-storey 400ft skyscraper in Leeds shelved as student accommodation plans branded a ‘pipe dream’
Plans for a 37-storey skyscraper in Leeds city centre, designed to be built as student accommodation, have been shelved, the firm behind the scheme has confirmed.
Designed to house around 800 people, plans for the 400ft skyscraper were first approved in June of last year. The building, named 100MC, was set to replace part of the city’s Merrion Centre.
But speaking to The Yorkshire Post, Edward Ziff, the chairman and chief executive of Town Centre Securities (TCS), the firm behind the plan, said that the scheme had now been “shelved”.
The building was originally planned as an office block, with TCS later applying to change its use to residential.
Mr Ziff added that plans to convert the adjacent Wade House office block into student accommodation were also now in doubt.
He said: “The reality is, we set off to get planning consent for the tower block. Originally, it was an office building, which we then applied for change of use to residential, and in the time that it took us to do that and secure a planning consent from Leeds City Council, the markets changed dramatically.
“Building costs have changed even more dramatically, to the extent that the notion that either Wadehouse or 100MC will be built as residential in the short term is just a pipe dream.”
Mr Ziff added that the 100MC tower scheme would only go ahead if TCS could find a third-party partner, something he also described as currently “very hard to find”.
Asked if the building may still be built for a different use, Mr Ziff said: “The building itself is designed and suited for student accommodation purposes. Yes, we can modify the application so that it would maybe be for private renting rather than student student, but I'm not sure it'll make enough difference to make it viable.”
Mr Ziff described the situation as “hugely frustrating and disappointing”.
As well as 1,039 student beds, plans for the 100MC and Wade House schemes also included student lounges, co-working spaces, a cinema, gym and karaoke room.
Members of Leeds City Council's City Plans panel had previously described the schemes as “remarkable”, when plans were approved earlier this year.
Posting its annual results, TCS said it was still “working towards a gateway to application” for planning on the Wade House building.
Mr Ziff added: “Securing the right planning consent, that has value, is something that we need to continue working out and will do, but I don't know right now whether that's going to be a residential scheme or an office scheme.”
It comes after the BBC reported in June that another Leeds city centre student accommodation development, named Threadworks, was only at 50 per cent occupancy.
Plans were recently lodged to use part of the site for short-term hotel stays.
Announcing its results for the year ended 30 June, TCS posted a statutory loss before tax of £0.3m, down from losses of £1.1m a year prior.