Merrion Centre Leeds: Permission secured for 1,039 new bed purpose built student accommodation scheme
Town Centre Securities (TCS) has revealed that it made progress on developing two of its largest sites in Yorkshire over the last financial year.
In an update to accompany its full year results, TCS said it had received planning approval for student accommodation in the Merrion Centre, Leeds as part of its “evolution”.
The statement added: “This approval incorporates a 1,039 new bed purpose built student accommodation scheme based on the redevelopment of Wade House and the adjacent 100MC site.”
Following the securing of planning permission at Whitehall Riverside in Leeds for a mixed-use scheme, TCS said it continued to move forward with both build contractors and professional teams and potential tenants for all phases of the development
Commenting on the results for the year ended June 30 2025, Chairman and Chief Executive Edward Ziff, said: “This was a year of continued resilience for Town Centre Securities, despite international geopolitical and domestic issues causing uncertainty in the UK economy.”
The results revealed that the like for like portfolio valuation was down 2.4 per cent from June 2024. The statutory loss before tax was £3.4m, which is an improvement on the loss of £7.8m the year before.
Mr Ziff added: “Our property rental business, car park and hotel operations continue to deliver resilient underlying revenues and earnings in a challenging macro-economic environment. These conditions have led to outward movements in the underlying yields and a further small valuation reduction of our property portfolio.
"In the last year we have seen inflation reducing but still above the Bank of England’s target of two per cent, and alongside this the base rate has reduced; however, with our continued low levels of variable interest rate bank debt, I am confident that we are in a strong position in these uncertain times.”