legal agreements that will deliver major regeneration of The Moor shopping area have been signed by Sheffield Council and management company Scottish Widows.
Scottish Widows has formally agreed to hand over the site for the council to build the new £16 million indoor market on the corner of The Moor and Earl Street and develop eight new retail units.
The financial company, which has been granted a 250-year lease for the street by the council, has also agreed to fund repaving of the upper section of The Moor to the same high standard as the lower area, which was carried out by the council in 2010.
Coun Helen Mirfin-Boukouris, the council’s cabinet member for business, jobs and growth said: “We are now looking forward to a dramatic transformation of The Moor.”
The new market, shops and improvements to the street are set for completion by the end of 2013.