New plans which will transform the heart of Sheffield city centre have been unveiled by Sheffield City Council.
The proposed £480m scheme comprises approximately 900,000 sq ft of mixed use accommodation. Although the scheme is predominantly retail and leisure led it also includes over 200,000 sq ft dedicated to residential and office space.
Nalin Seneviratne, Director of Capital & Major Projects at Sheffield City Council, said: "These new plans provide a navigable, varied and attractive new shopping district for Sheffield city centre.
“This will consolidate an enhanced retail offer and also provide for food and beverage, office and residential to extend the attraction as an evening entertainment destination."
According to Council research Sheffield city centre is significantly undersupplied in terms of specific types of retail floor space when measured against comparable city centres as Sheffield has 32% less mid-market retail than the benchmark average, and 85% less upper mid-market retail. Specifically, both fashion and catering are significantly undersupplied, at 37% and 41% respectively.
The new scheme aim is to bring aspirational and contemporary retailers to an enhanced, street-based city centre district that is complimentary to Meadowhall, and will appeal to many retailers with an affinity for city centre streetscapes.
Jonathan De Mello, Head of Retail Consultancy at Harper Dennis Hobbs, said: "For decades now Sheffield city centre has experienced rising retail vacancy, falling retail sales and lack of investment. This was principally due to a lack of new retail space in the city, configured for modern retailer requirements. The Sheffield Retail Quarter will change all that, propelling the city 11 places up the retail rankings, and creating a true retail 'circuit' between Fargate and The Moor where there is currently a disconnect. The new scheme will satisfy these requirements, and address the issues of current undersupply in core retail categories such as fashion and dining."
Sheffield City Council is also currently engaging with potential strategic development partners through a procurement process to help deliver the new scheme during 2019 and expects to announce a partner later in the year.
