Landmark Properties launches third UK venture

US PBSA developer Landmark Properties has exchanged contracts to collaborate with Citrus Group and Galliard Homes on the mixed-use redevelopment of Prince Bishops Place in Durham.

Prince Bishops Place in Durham

The proposed project will feature 504 purpose-built student bedrooms, new retail and leisure facilities, and enhanced pedestrian access, including a link to the River Wear. Landmark Properties will acquire the site and work with its partners to deliver the development upon securing all necessary planning and regulatory approvals.

This marks Landmark Properties' third venture in the UK. The company entered the UK market in 2024, acquiring its first London site on William Road in 2025, and recently secured planning approval for a 504-bedroom student redevelopment at 120 Suffolk Street.

Initial planning permission for Prince Bishops Place was granted in 2024, with a revised application submitted earlier this year to increase student bed capacity and incorporate design improvements aligning with Landmark Properties’ investment and brand standards.

The reimagined Prince Bishops Place will blend student housing with retail and hospitality, communal areas, and improved views of the River Wear, all while retaining the existing multi-storey car park.

This agreement reinforces the company's goal to implement four to six Purpose-Built Student Accommodation (PBSA) and residential schemes annually.

Ioannis Verdelis, managing director – Development & Investment Operations of Landmark Properties, said: “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.”

James Taylor, regional director of Citrus Group, said: “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, said: “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.”

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