The plan would see the demolition of The Core shopping centre in the city to make way for 807 student bedrooms and around 36,000 sq ft of retail at ground level, including two new arcades.

Designed by architect Costorphine & Wright, the project spread over three blocks will feature low carbon air source heat pumps, low water consumption fixtures and fittings, and low energy and controlled ventilation and lighting.

Each of the buildings will be connected by lightweight bridges at the western edge of the site.

Development will consist of three block rising from five and nine storeys

Bringing improved public realm and a better retail experience, the development will further improve east-to-west connectivity from Lands Lane to Albion Street.

Tri7 is seeking to invest £250m for similar bed-led (PBSA and build-to-rent) regeneration schemes in UK towns and cities with Russell Group universities.

Samuel Castle, partner at Tri7, said: “Located in the heart of one of the UK’s best cities for students, it represents exactly the type of opportunity that we seek to deploy our capital in – and the type of bed-led city centre regeneration development that the government just last week argued was a major part in tackling the UK’s housing crisis.”