MORE money should be invested into the city's "dying" retail sector and not student accommodation, says a Plymothian on the street.
Taxi driver Colin Lynch made the remark when asked what he thought about plans to turn the closed-down Derrys department store into student flats and a budget hotel as part of a £50million development.
"Millions of pounds is being spent on putting up buildings for students and this area of the city [Cornwall Street to Derrys Cross Roundabout] is dying," said Colin, 52, from Milehouse.
"The retail sector is dying– it is like a ghost town.
"There is no guarantee that students will use the services in this area because there is nothing of interest to them down here. If we had a Gap or a Next, then they would be much more interested.
"Look at Exeter– they have it all up there."
London-based Thames Bank Property Company has exchanged contracts for the 224,536sq ft block, subject to receiving planning permission.
Bosses have been in talks with Plymouth City Council (PCC) and expect to submit plans next month which will see the block transformed into 500 student bedrooms and a 100-bed budget hotel.
There would also be ground-floor shopping and restaurant space created, but Thames Bank Property said the retail economy was not strong enough for the entire site to be stores.
But Colin believes that a shop like John Lewis would improve the economy more and says it would attract people from outside of Plymouth who prefer to shop in Cornwall.
He added: "Instead you have people from Plymouth going down to Truro because they have the shops we do not have.
"I would not invest in the students at all– they have had enough invested in them. All the students invest in is alcohol."
Fellow taxi driver Keith Scott agrees and says that trade plummets when students "disappear" in the summer.
"There is not a problem with students in the area but all the council worry about is building accommodation for them– they need to worry more about the locals."
However, Marcus Ward said: "This has been empty for many years now.
"Plymouth is dying on its feet– there is nothing to attract outsiders. You have the shopping centre the other end which is overpriced and there is nothing down this end."
The 46-year-old from Tavistock added: "This will bring more money into the town and the students have to go somewhere."
Writer Roger Whear, 74, says he would welcome the reintroduction of a shop like Derrys.
"I would like to see it as a Derrys again– the food hall was brilliant. Students have a whacking lot of accommodation as it is. A lot of flats are empty on Notte Street and those were built especially for students.
"I have another friend who has a baby and she sofa surfs from friend to friend because she is not entitled to benefits until she gets a real address.
"The likes of Poundland, Aldi and Lidl are killing trade across the country and the reason for empty shops is the simple fact that rent is too high."
Stoke resident Adrian Porkolab has lived in Plymouth for four years. He says it will be good for the economy and that a redeveloped building will "provide a nicer view for the city".
"With students, this city stays alive," the 35-year-old added.
Margaret Seccombe of Compton also thinks a major retailer should have complete control of the building.
"There are too many buildings being converted into student accommodation in Plymouth and students will not use the shops in this area," said Margaret.
"This place will never liven up if stores like this get wasted."
The 63-year-old added: "There is a different atmosphere in the summer when students leave- things feel much easier."