Developer reveals why progress has stalled at one of the biggest building sites in Sheffield

But in recent weeks the huge expanse of land off Hoyle Street in Shalesmoor, where the former HSBC building stood and which is home to a historic steel furnace, has been notable for the lack of builders – or indeed any activity taking place.

Planning permission was granted in 2018 and construction began last year, with the huge complex of student rooms and rental apartments initially scheduled for completion in late 2020.

No explanation had previously been given for the hold-up, but the developer Cassidy Group, which bought the land from Mace in December 2018, has now spoken.

A spokeswoman for the company said: “At present, the site is on hold whilst we are in discussions with various end users. Once we have secured a buyer, the development will commence.”

The developer did not give more details, and it is unclear whether the pause is related to a new planning application for the site on which a decision is pending.

Permission was originally given for 247 residential units and 658 student bed spaces but Cassidy Group is seeking to amend the description to ‘remove reference to the number of residential units and student bed spaces’.

The 19th century cementation furnace at the former steelworks, which is believed to be the only one of its kind surviving in the country, is now a Grade II-listed scheduled ancient monument.