Durham city centre site set for student scheme

A Durham city centre site is set for significant redevelopment, with plans to introduce student accommodation alongside enhanced commercial space.

Landmark Properties has partnered with Citrus Group and Galliard Homes after exchanging contracts to invest in the transformation of Prince Bishops Place.

The proposed scheme includes 504 purpose-built student bedrooms, alongside upgraded retail and leisure units and improved pedestrian links through the site.

The development will also introduce a new connection to the River Wear, enhancing access and views, while retaining the existing multi-storey car park. 

A revised planning application has been submitted, building on earlier approval granted in 2024 and incorporating design enhancements and an increased number of student beds.

James Taylor, regional director of Citrus Group, said: “We are thrilled to be exchanging contracts with Landmark Properties, who will take this long-awaited development through to delivery. 

“Landmark, as a growing UK entrant in the student market, will bring an exciting new student offer to Durham but are also equally committed to delivering a new high street and complementary public benefits and we look forward to continuing to work alongside them on this exciting new chapter for the city.”  

David Hirschfield, group managing director of Galliard Homes, added: “Partnering with leading PBSA specialist Landmark Properties on Prince Bishops Place is an exciting step forward and reflects our shared commitment to delivering a high-quality, mixed-use destination for Durham City Centre. 

“Our shared ambition is to create a first-class scheme Durham can be proud of, bringing forward excellent student accommodation alongside retail and leisure uses, set around an improved public square and pedestrian links that will serve to support the city centre for years to come.”

The project marks Landmark Properties’ third UK development as it continues to expand its presence in the market.

Landmark, which manages more than 74,000 student beds globally, entered the UK in 2024 and has since secured sites in London.

Once approved, the scheme is expected to create a mixed-use destination combining student living with a refreshed commercial offer, supporting the wider regeneration of Durham city centre.

Tristram Taylor, development manager of Landmark Properties, which is headquartered in Athens, Georgia, said: “As long-term investors with vertically integrated development and property management expertise, we are excited to bring direct foreign investment to the historic city of Durham. 

“Landmark Properties’ expertise ensures the delivery of a high-quality scheme reflecting the city’s UNESCO World Heritage City status.”

Ioannis Verdelis, managing director – development and investment operations of Landmark Properties, added: “We are building a business with a growing team and big ambitions to scale our investment in the UK’s student housing sector, and Durham is a very exciting market at a key inflection point. 

“Our entry into this market represents a vote of confidence in the UK’s thriving higher education sector in general and in the city of Durham, more specifically. 

“As evidenced by our activity over the past six months, Landmark is keen to invest in key strategic locations where demand outstrips supply with the goal of bringing forward high-quality products that promote vibrant regeneration in underserved markets.”

Landmark Properties were advised by Newmark, while the vendors were advised by Savills and Harris & Associates.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.