Plans to revive a stalled multi-million pound regeneration scheme for the centre of Sheffield have been unveiled by a three-way partnership that includes the administrators of the former developer.
PricewaterhouseCoopers, which is handling the affairs of collapsed developer Castlemore, is joining forces with the city council and new developer Urbo Regeneration to deliver the renamed West Bar Square project. All three have been negotiating for more than two years to re-launch the £250m scheme.
The latest vision for a former brownfield site bordered by Sheffield’s inner ring road and Corporation and Bridge Streets, will create more than 600,000 sq ft of premium office space. Focused around the new West Bar Square, and linking the Cathedral Quarter to the Riverside, the scheme also includes cafes, shops, restaurants, a hotel and apartments.
An updated planning application, designed by Urbo’s award winning 5plus architects and Urbed, will be submitted shortly with a construction start date planned for early next year once pre-let occupiers have been found by joint agents BNP Paribas and Knight Frank.
Described as a landmark development, by Urbo’s managing director, Peter Swallow, he added: “Not only will West Bar Square deliver thousands of jobs during its construction phase and beyond, but it will establish Sheffield as a city for inward investment and one to do business with.
“The area has the right skills, people and infrastructure to ensure businesses that invest in West Bar Square thrive and we have worked tirelessly with Sheffield City Council to get this development resurrected and off the ground,” he said. “Now we can now forge ahead with creating Sheffield’s premier business district.”
Six years ago Castlemore was granted planning permission for its West Bar scheme. That was abandoned when the cash-starved developer went into administration during the recession. Unlike the previous scheme — which featured three tall towers — the new West Bar Square will be “more in scale with surrounding townscape and the needs of modern businesses”.
Leigh Bramall is the city authority’s cabinet member for business, skills and development. “West Bar Square represents a very significant step forward in the regeneration of Sheffield’s riverside business district which is becoming a major area for new employment,” he explained. “It will bring long vacant sites into productive use and also link the growing new residential areas at Kelham Island and Wicker into the city centre.”
Previous Post
Shoreditch Ace Hotel sale sets New Pricing Benchmark
