Between the steady decline of traditional ‘bricks and mortar’ retailing, the fall-out from the pandemic, the impact of fires, and the ongoing disruption arising from works to improve the public realm, Sauchiehall Street in Glasgow does not have its troubles to seek.

But a key development announced today may have boosted the spirits of those working towards better times for the famous old thoroughfare.

Fusion Group announced today that it has purchased the site of the former Marks & Spencer store in the heart of Sauchiehall Street, declaring that the deal brings its long-held plans to turn the site into a mixed-use development, led by student accommodation, a “step closer”.

The purchase comes after Fusion secured planning permission for its plans, at the second time of asking, in May, with its refreshed proposals addressing concerns expressed by council chiefs over the height of the proposed building. The revised plans will also increase the proportion of affordable student beds as part of the overall mix and retain the the Art Deco façade of the original building.

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The prospect of another purpose-built student accommodation (PBSA) block being hurled up in Glasgow may not be universally welcomed. There has been a proliferation of PBSA projects in the city centre and west end over recent years, which appears to have been essential to attempts by major universities in the city to attract fee-paying students from overseas and elsewhere in the UK.

However, while there have been anecdotal complaints about the number of PBSA projects coming through, a report by property firm Savills in May found that Glasgow needs an additional 22,000 beds to meet requirements for student accommodation in the city.

And there are grounds to believe the Fusion project will be good for Sauchiehall Street in particular.

For the reasons outlined above, the area is in dire need of investment. Although small pockets of hope have begun to emerge, for example the success of the McLellan Works flexible office space and plans to turn the former Magnet kitchen showroom into similar accommodation across the road, the overriding theme of Sauchiehall Street in recent years has been one of steady decline. Vacant store units, litter, and filth have become commonplace, despite the efforts of the council to keep the pavements clean while the street refurbishment work takes place.

A new block of student accommodation will not improve Sauchiehall Street on its own. And it will obviously been some time before this project is complete.

But the prospect of an influx of students, able to spend money in local bars, food outlets and other shops, should in theory bolster the ongoing regeneration of the area, complementing the council-led Avenues project that will improve the look and feel of the city, and aspirations to establish a cultural and heritage district.

Alongside plans to reinvigorate Buchanan Galleries at the foot of Sauchiehall Street, and proposals to replace the ABC music building with a mixed-used development at the other end, initiatives such as the Fusion scheme offer hope of a brighter future for the area. But it is not going to happen overnight.