A £175 million development in Sheffield city centre has moved a step closer after another parcel of land was snapped up.
A huge complex including offices, homes, a four-star hotel, shops and restaurants is planned at West Bar Square, a 5.7-acre plot between the law courts and Kelham Island.
Urbo was last February granted outline planning permission for the huge project on the largely derelict site, and the firm is now drawing up detailed plans and working to secure the remaining land needed.
It today announced it has completed the purchase of a car park on Corporation Street from Johnston Press, which publishes The Star and Sheffield Telegraph.
The latest acquisition takes the proportion of the site owned by Urbo from around 70 per cent to 80 per cent, and the company says it is in negotiation with the owners of the remaining land.
The remaining occupiers include car rental firm Europcar and Hawleys tyres and exhausts.
The car park has been leased back to Johnston Press on a short-term basis.
Peter Swallow, Urbo's managing director, said: “Plans for West Bar Square are moving forward well. This key acquisition builds on the significant progress that we have made with site assembly to date and means we can now move towards delivery of the first phase of the scheme."
Urbo, which claims the new office space created will be sufficient to accommodate up to 5,000 workers, hopes to submit detailed plans for the first phase of the scheme by the end of the year.
The developer says it is already in talks with investors who have expressed an interest in occupying the offices once they are completed.
West Bar Square lies next to the Riverside Business District, where the Home Office and law firm Irwin Mitchell are based, and the development is seen as the latest phase in the regeneration of what had become a run-down area.