The largest ever private investment in a single phase of development in Sheffield city centre is a step closer to becoming a reality.
Urbo (West Bar) Ltd, a joint venture between Urbo and Peveril Securities, the development arm of the Bowmer and Kirkland Group – has outline planning permission for a £150m scheme to deliver the first phase of the West Bar Square development.
A report to the council’s cabinet next week says that the partnership is in discussions with Legal & General to bring forward this vision as the company continues to support the development of UK cities.
It also sets out a proposal for the local authority to enter into an agreement to take a lease of one of the new office buildings.
The first phase on a plot between the law courts and Kelham Island will include office space, 350 build to rent homes, a multi-storey car park and a public space.
It will be accommodate up to 1,800 workers once complete.
Urbo has been working with Sheffield Council for several years to develop the West Bar Square scheme which was granted outline planning consent in 2017.
Detailed designs by architect 5plus will support the reserved matters planning applications for the first phases of development.
A report to the council’s cabinet next week sets out a proposal for the local authority to enter into an agreement to take a lease of one of the new office buildings.
Councillor Mazher Iqbal, cabinet member for business and investment, said: “This is fantastic news and yet another example of how we are attracting major new investment partners into the city.
“We are repeatedly being told that there is a shortage of new Grade A office space in the City Centre which could have a negative impact on the local economy in terms of options for new or existing businesses to move and expand.
"As a council we are helping to address this through making sensible targeted interventions in the market with partners.
“This development will create jobs, living spaces and improved neighbourhoods right in the heart of Sheffield and provides better connectivity between the city centre and Kelham. It’s a huge project and Sheffield can’t wait for it to get started.”
Managing director of Urbo Regeneration, Peter Swallow, said: “This is a massively significant investment for Sheffield, and is a vote of confidence in the future of the city as a whole.
Managing director of Peveril Securities and main board director of Bowmer and Kirkland, Ralph Jones, said: "We are delighted to enter into this exciting partnership and are already working with Legal an General on a similar major Government Hub office scheme in the Midlands.
“We are looking forward to the possibility of working together again to deliver this market-leading development in Sheffield.”