Acting on behalf of Sheffield City Council (SCC), global real estate advisor CBRE’s UK Development Advisory team has been instructed to launch to market two development opportunities which will form one of the final elements of the £470m Heart of the City masterplan and contribute to the wider regeneration of the city centre.
A buyer or buyers are sought for Block G which comprises two sites situated on either side of the new 1.5 acre urban Pound’s Park. Proposals are being sought by 30 September 2022 for both sites, either individually or collectively.
The two city centre development sites front onto and are connected by Pound’s Park, due to open to the public in late 2022. Pound’s Park will seamlessly continue the public realm within the city centre, while also reinventing the expectations of a city park. A multitude of experiences will be created, including spaces for play, relaxation and socialising – all within a heavily greened and attractive environment that helps promote physical and mental wellbeing.
Site A (0.4 acres) and Site B (0.5 acres) are expected to provide active ground floor frontages onto this public realm with office, hotel and residential uses on the upper floors considered appropriate. Whilst both sites could be developed by a single purchaser, the Council will consider separate or combined offers for the sites.
One of the UK’s largest urban regeneration schemes, Heart of the City comprises 1.5 million sq ft of individually designed and repurposed buildings surrounded by enlivened streets and public spaces. The multi-million-pound investment into Sheffield City Centre will provide active cultural, leisure, retail, residential and office uses.
The Heart of the City scheme is delivering a number of developments around the property including, but not limited to Grosvenor House, a Grade A office home to HSBC and law firm CMS; Elshaw House, a zero-carbon Grade A office due to complete in spring 2023; Cambridge Street Collective, a food hall and Bethel Chapel, soon to be marketed as a 15,000 sq ft entertainment and cultural venue. The Council is also carrying out works to the adjoining Rockingham Street to improve access for buses and incorporate new stops to serve this part of the city centre.
Alex Andrews, CBRE’s UK Development Advisory team, said: “The Block G plots offer an exciting opportunity for a developer or developers that can demonstrate their ability to deliver an imaginative, high quality, low carbon, sustainable development which is appropriate to the transformational nature of the opportunity and the surrounding proposals. We look forward to working with SCC to find the right developer(s).”
Councillor Mazher Iqbal, co-chair Transport, Regeneration and Climate Policy Committee, Sheffield City Council, said: “Sheffield’s Heart of the City is one of the largest urban regeneration schemes in Britain and it is brilliant to see our ambitious project is progressing with real pace. These two new sites within the scheme are in a prime location and any developers interested will need to share our strong ambition to deliver developments of exceptional quality. We’re very excited to be launching the final stage of the Heart of the City masterplan and making a city its residents are proud of.”
