IN DEPTH: Sheffield city centre is hitting back with two retail-led development schemes set to go head to head in the city centre, two years after Hammerson abandoned plans for its 680,000 sq ft Sevenstone scheme.
Sheffield city council has announced plans for a new 900,000 sq ft mixed-use quarter, while Sheffield Retail Group has lined up a £500m scheme of its own. But which will go forward?
The £480m masterplan by Sheffield city council for a new 900,000 sq ft mixed-use quarter, which will be retail led and comprise 700,000 sq ft of new shops and leisure with the balance earmarked for residential and offices. The council hopes to kick-start its plans via the Tax Incremental Finance initiative and will name a development partner by April 2016, with completion in 2019.
Meanwhile, the Sheffield Retail Development Group said it has lined up £500m to deliver around 600,000 sq ft of retail via its own plans in the city centre.
Sheffield’s city centre has been losing out to rivals Leeds and Manchester as several regeneration plans have been put forward and then forgotten. From shopping malls to office schemes, ambitious plans to rejuvenate a neglected city centre have fallen by the wayside. However, in March two major announcements were made which may signal the city’s regeneration efforts being back on track.
• Click here to read an in-depth analysis on which plans the city experts think will go forward.
