Retail scheme progress

Share this article
Have your say

COUNCIL officers have issued the final compulsory purchase orders to businesses still trading on the site of the £600 million Sheffield new retail quarter development.

Plans for the Sevenstone scheme have suffered setback after setback after developers Hammerson put the project on hold at the beginning of the financial crisis.

But now CPO notices are going out to all traders who still own land and leases within the development site, before the orders expire at the end of the month.

Sheffield Council chief executive John Mothersole said: “We have been determined the Sevenstone scheme should go ahead and this is now a very significant and practical step forward.

“A huge amount effort and skill has gone into getting to this point for a development that will transform shopping in the city centre and will deliver many, many jobs for Sheffield people.”

Town Hall bosses recently signed a new agreement with Hammerson, who have agreed to pay between £10m and £15m to buy the land - and will pay the interest on a further £10m to be funded by council borrowing.

Professional agents Cushman Wakefield and Rees Denton have been appointed to undertake detailed one-to-one negotiations on valuations and compensation with all affected individuals and businesses.