West Bar Sheffield: Phase one of £300m city centre development which could create 8,000 jobs begins

Phase one of the £300 million city centre development of West Bar, which could create 8,000 jobs, has commenced, financiers of the venture have announced.
Harry Harrison
By Harry Harrison
Published 5th Aug 2022, 00:01 GMT
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The development is the largest private investment deal in the city centre and will bring more housing, green spaces and grade A office accommodation to the area.

It also has the potential to create 8,000 jobs.

Councillor Mazher Iqbal, co-chairman of Transport, Regeneration and Climate Committee at Sheffield City Council, said: “West Bar is a key site and an important part of the wider transformational plan for Sheffield city centre, linking the thriving community at Kelham to the huge development taking place at Castlegate.

This is how the West Bar development is expected to look on completionThis is how the West Bar development is expected to look on completion
This is how the West Bar development is expected to look on completion
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“I am pleased to see that development is proceeding having secured very significant investment, creating new jobs, much needed new homes and economic prosperity.”

MORE: West Bar Square: Developers delight at planning approval for 470 vehicle car park near Sheffield city centre

The first phase of West Bar will create the No. 1 West Bar Square, which will consist of the 100,000 square foot office space, retail accommodation and a rooftop bar; Soho Yard, which will have 368 build to rent apartments, owned by Legal and General; a 450 space multi-storey car park; and West Bar Square, which is hoped to be a major business hub and the focal point for the West Bar area.

MORE: West Bar Square £150m office development is a risk to Sheffield Council’s finances

L – R – Ralph Jones, Managing Director of Peveril Securities, Councillor Mazher Iqbal Co-Chair of Transport, Regeneration and Climate Committee at Sheffield City Council and Gordon Aitchison Director of Investment & Development Legal and GeneralL – R – Ralph Jones, Managing Director of Peveril Securities, Councillor Mazher Iqbal Co-Chair of Transport, Regeneration and Climate Committee at Sheffield City Council and Gordon Aitchison Director of Investment & Development Legal and General
L – R – Ralph Jones, Managing Director of Peveril Securities, Councillor Mazher Iqbal Co-Chair of Transport, Regeneration and Climate Committee at Sheffield City Council and Gordon Aitchison Director of Investment & Development Legal and General

The first phase is expected to be complete in 2024, with future developments expected to expand the area’s business and residential potential.

Ben Rodgers, Head of Regeneration at LGIM Real Assets, said: “There has never been a more important time to invest in our regions, and today marks an exciting milestone in West Bar’s journey. Our vision for West Bar is to provide a much-needed new quarter for the centre of Sheffield, delivering on the city’s housing, jobs, and regeneration needs.

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“This important scheme will strengthen Sheffield’s position as a leading UK city.”

On completion of the whole seven-acre project, West Bar will provide up to 1million sq ft of mixed-use accommodation, consisting of 500,000 sq ft of office space, residential, and car parking.

Peter Swallow, Managing Director of Urbo Regeneration and Sir Nigel Wilson, Group Chief Executive of Legal and GeneralPeter Swallow, Managing Director of Urbo Regeneration and Sir Nigel Wilson, Group Chief Executive of Legal and General
Peter Swallow, Managing Director of Urbo Regeneration and Sir Nigel Wilson, Group Chief Executive of Legal and General

Peter Swallow, Managing Director at developers Urbo, said: “We are thrilled to secure unconditional agreements and forward funding that guarantees the delivery of the first half of the West Bar development."

Related topics:Sheffield City Council