Sheffield City Council has revealed plans that will transform the city centre into a new retail quarter…
Leonard Design Architects have designed plans to create a new retail hub in the centre of Sheffield. The £480m scheme will comprise of 900,000 sq ft of mixed-use accommodation, predominantly retail and leisure. The space will also include 200,000 sq ft for residential use and office units.
The scheme wiill be partly funded via the New Deal with government to use tax incremental financing.
Since ending a partnership with developer Hammerson in 2013, Sheffield City Council has been investigating how best to move forward with the scheme.
Simon Green, Executive Director – Place at the council, said: “This is the right time for Sheffield.
“We sit at the heart of the devolution debate; we have an ambitious plan for growth; and we are delivering a series of enhancements to our city and public spaces through partnerships with universities, commercial real estate, homes and our hospitals.
“In the coming months we will launch the world leading Advanced Manufacturing Innovation District.
“All routes lead to the need for an improved and vibrant city centre with retail and leisure at its heart.”
Martin McKervey, partner at Nabarro, and Sheffield City Region LEP board member also commented. He said: “This new and exciting opportunity is a further endorsement of the confidence we must all have in the city following the interesting developments in progress such as the £65m Chinese inward investment plan for New Era Square, the new Olympic Legacy Park in the Don Valley and the University of Sheffield’s Factory 2050, which will build a £43m centre of excellence for advanced manufacturing.
“Sheffield is indeed an attractive investment opportunity and we have a platform to build on this.”
The scheme hopes to complete by 2019, and the city council is expected to announce a partner to deliver the project in the autumn.
