Investment model to drive forward major mixed-use city centre scheme
Sheffield City Council and its strategic development partner, Queensberry, has announced that the Council will commit as investor to drive forward proposals to complete its transformative city centre regeneration scheme, formerly known as the Sheffield Retail Quarter.
If approved at a Cabinet meeting on 21 March, the Council will act as the primary development investor to bring forward 1.5m-sq ft of new retail, leisure, Grade A office and residential space in the city centre. The new city centre commercial and residential district will aim to enhance Sheffield’s ability to attract business, professional and financial service sector jobs and investment, and to reclaim retail spend that currently leaks out of the city.
The scheme’s new working title, Heart of the City II, reflects a move away from a pure retail to a mixed-use project with a greater focus on high quality residential and office space. It also builds on the neighbouring original Heart of the City regeneration scheme that completed after the millennium.
Heart of the City II, designed by Leonard Design Architects, will feature significant levels of Grade A office space and residential development. Retail will primarily focus on premium operators not already in the city centre. Two 4 or 5-star hotels will also feature, alongside new public squares that will continue Sheffield’s reputation for high quality public realm.
Councillor Mazher Iqbal, Cabinet Member for Business and Investment at Sheffield City Council, said: “I am delighted to see these new plans come forward which will make such a lasting impact on Sheffield’s retail, leisure and entertainment offer. We believe that these re-shaped and exciting plans position Sheffield brilliantly to deliver an individual and unique scheme that reflects the different ways in which people shop, live and socialise.
“We are seeing schemes come forward across the city and more and more people choosing to live, work and study here. Our entertainment offer after 5pm is thriving. These new plans will see a truly innovative city centre emerging that reflects Sheffield’s changing dynamic.
Under the new delivery plan, the next phase of three new blocks will be submitted for planning in early summer 2018, with public consultation beginning in April. Construction on the next phase is expected to begin towards the end of 2018. The development is on site and on-track for completion in 2019.