4 St Paul’s Place would be a 10-storey building on Pinstone Street, according to developers Schroders and CTP.
The site is currently occupied by several businesses including Card Factory and Perfect Home in mainly two and three-storey buildings.
The project is advertised as having ‘superb views, natural light and terraces on the upper levels’. It was launched in the same week CTP announced it had sold 3 St Paul’s on nearby Norfolk Street for £24m. And it would stand opposite the city council’s new Heart of the City 2 development.
The details were in a ‘pitchbook’ by Sheffield Property Association which also includes a proposed 250-apartment block adjacent on Pinstone Street. It would have a frontage facing the top of The Moor where H&M is planning to move into the former McDonald’s building.
The pitchbook states it is a ‘prime 250-apartment, build-to-rent, opportunity with ground-floor retail proposed by Turner Investments.
‘Residents will be able to enjoy the excellent amenities in the immediate locality and retail occupiers will benefit from one of the most high profile city centre locations.
‘A planning application is currently being pursued and Turner Investments will be seeking a partner to acquire the site on a forward-funded basis.’
London-based investment company M&G Real Estate recently snapped up 3 St Paul’s Place and developers U+I and CTP hailed the sale “as a massive vote of confidence in the city of Sheffield”.
David Topham, director of Manchester-based CTP said: “We are tremendously proud of what we have achieved at 3 St Paul’s Place. It is the first speculative office building to be developed in Sheffield since the recession and now boasts a number of high-quality occupiers.”
The final element of the £200m Heart of the City project – it was paid for by a ‘basket’ of lenders, including a £6.8m loan of public money.
The Star understands all loans will be repaid and the sale returned a profit.