First step of major Sheffield regeneration scheme approved - with plan set to create up to 8,000 jobs
A major milestone in creating a ‘much-needed’ new quarter for Sheffield city centre has been reached as the first £150m phase of the West Bar regeneration project was approved.
Sheffield Council’s planning and highways committee has approved plans for the first phase of the West Bar regeneration project.
Construction of the mixed-use scheme – which includes offices, leisure and retail space and apartments – will start within the next few months, following demolition.
Urbo, the developer for the project, along with Urbo Regeneration and Peveril Securities already secured £150 million funding to deliver this first phase, which it said is the largest single private sector investment deal Sheffield had ever seen.
Ultimately, the partnership plans to deliver a £300 million mixed use destination expected to create between 6,000 and 8,000 new jobs and new homes.
Ralph Jones, managing director at Peveril Securities, said: “This is testament to the strength of Sheffield as a considerable powerhouse in the North and an attractive place to live and work.
“Our vision for West Bar is to deliver a much-needed new quarter for the centre of Sheffield, delivering on the city’s housing, jobs and regeneration needs with up to 1 million sq ft of vibrant new mixed-use space along with fantastic public realm for all to enjoy. Achieving planning consent is a major milestone and will enable us to realise this vision.”
Peter Swallow, managing director at Urbo, said the scheme had taken many years of work to get to this point.
He added: “No.1 West Bar Square delivers against evidenced demand for large footprint, high quality modern office accommodation that is currently lacking in Sheffield city centre. It complements the existing West Bar neighbourhood.”
This first phase of the plan includes a new 100,000 sq ft office building with ground floor retail and leisure space, Soho Yard comprising 368 build-to-rent apartments, one acre of public realm and green space extending the council’s Grey to Green scheme, 300 cycle storage spaces and connectivity to the surrounding walking and cycling routes.
As part of the redevelopment, car parking overall at West Bar will be reduced from current numbers to promote sustainable travel and reduce traffic whilst also providing new electric charging points. A separate planning application for a new, 450 space multi-storey car park will be submitted shortly.
Phase two plans include a second Legal & General-funded, 100,000 sq. ft office building, with further phases ultimately providing 1 million sq ft of mixed-use accommodation.