Sheffield named as one of UK's top five urban regeneration hotspots

Sheffield has been named as one of the UK’s top five urban regeneration hotspots.

Monday, 1st March 2021, 12:55 pm
Updated Monday, 1st March 2021, 12:58 pm

The city was chosen alongside Birmingham, Leeds, Slough and Manchester as the places to watch by leading property investment firm SevenCapital.

In a piece for Property Reporter, the company said prices had shot up by 26.5 per cent in the past five years and 44.4 per cent over the last decade.

It said: “Sheffield’s major regeneration began largely with The Heart of the City masterplan, which helped regenerate Peace Gardens, the Winter Garden and St Paul’s Tower – the city’s tallest residential building.

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Sheffield's £470m Heart of the City II development is a major reason why SevenCapital has named the city as one of the UK's urban regeneration hotspots

“Since then, with footfall, and demand increasing, it now has a £470 million Heart of the City II masterplan, which will focus on the retail sector, delivering a new destination for the city with ‘long-awaited commercial, leisure, retail and residential focal points’.

“The 1.5 million sq.ft redevelopment will transform this area of the city into an agile, mixed-use district designed to bring in new jobs and higher investment.

“Certainly, a city to watch!”

Andy Foote, director at SevenCapital, said Sheffield and the other areas had been chosen because they had ‘demonstrated sustainable growth over a long period of time’ and ‘still have significant regeneration and investment plans in the pipeline’.

He added: “Since London began to lose some of its shine, it’s done wonders in helping to spotlight alternative key towns and cities across the UK, kickstarting numerous significant regeneration and investment programs.”

Sheffield city centre’s regeneration took another big step forward just last week when the council announced the partnership chosen to run historic Leah’s Yard as a ‘destination’ for independent businesses.