The project, designed by architect Hodder+Partners, will redevelop a 20-storey aging Premier Inn at St James Barton roundabout, in the centre of the city.

Olympian Homes proposes to transform the site – to be renamed St James Square – with an 18-storey co-living homes project and a 28-storey student rooms building.

20-storey Premier Inn building will be demolished

Of 132 co-living homes, 20% would be affordable with local housing allowance rents. The PBSA building would house 442 student bedrooms.

Olympian will now seek a funding partner and also start engagement with firms to find a building contractor for the project.

Oliver d’Erlanger, senior development manager at Olympian Homes, said: “The hotel building – originally built in the 1970s as an office block – has come to the end of its life.

The co-living building (right) has extensive shared social and workspaces, gym, resident cinema and other facilities like a laundrette.

“There is a real opportunity to transform the site into a place with attractive and safe public spaces that much better connect Broadmead, Bristol Bus Station, the Bear Pit and St James’ Park, and open up views to the listed St James’ Priory. That’s exactly what we propose to do.”