The move comes after Fusion struck a deal with M&S to acquire the landmark building early last month, having secured planning permission to construct a mixed-use development at the site in July. Fusion plans to develop 619 student beds and 9,500 square feet of new commercial space at street level via a new shopping arcade at the site, restoring a historic pedestrian route from Sauchiehall Street to Renfrew Street.
Now it is looking to seeking funding partners for the purpose-built student accommodation and three others in the UK, in Birmingham (622 beds), Loughborough (541 beds), and Cardiff (706 beds).
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Fusion said the portfolio is characterised by its prime locations, high-quality amenities, and strong ESG (environmental, social, governance) credentials. The properties will feature state-of-the-art facilities including fitness centres, communal study spaces, social hubs, and outdoor recreational areas.
Nigel Henry, chief executive of Fusion Group, said: “The launch of the next phase of developments, alongside our living sector operating platform, underscores our commitment to delivering a consistent experience from development to operations.
“With these new projects, as well as our current developments set to open in September 2025 and 2026, we are expanding our portfolio to 6,000 beds under the Fusion brand and operating platform, with AUM (assets under management) exceeding £1.3 billion. Fusion emphasises design for positive living, and these latest strategic moves mean we can ensure that our communities continue to receive the same quality and attention that we put into designing and building them.”
Huw Forrest, head of UK student housing at JLL, said: “We are delighted to be working with Fusion Group on this exciting new chapter in their journey and believe they will present a significant opportunity for investors to benefit from what Fusion do best; strong site selection,100% success on planning and developing highly attractive PBSA schemes that focus on the living experience.
“The portfolio offers investors the chance to acquire premium assets in prime university locations with strong supply-demand fundamentals.”
