A landmark deal has been reached at West Bar Square, Sheffield. The £150m agreement between L&G and joint venture developers, Urbo Regeneration and Bowmer and Kirkland’s Peveril Securities will fund the first phase of development of the 5plus designed masterplan. It is believed to be the biggest deal sealed to date during the coronavirus outbreak.
West Bar Square enjoys a prominent position on the Inner Ring Road between the Kelham Island district and Sheffield’s Cathedral Quarter. Phase one of the masterplan will comprise 200,000 sqft of Grade A office space, 350 ‘build to rent’ homes and a multi-storey car park with circa 450 spaces and high quality landscaped public realm.
5plus has been involved in the project for the last 9 years, achieving outline planning permission for the masterplan in March 2017. Working closely with the client and our co-consultant team, we are now preparing detailed designs which will support the separate, reserved matters planning applications for each building forming the first phase.
“We have worked with the developer over an extended period of time, in full partnership with Sheffield City Council, L&G and all other stakeholders, to progress this new city quarter which will link the traditional commercial and retail core with Kelham Island and the riverside.
“We are now embarking on the exciting next stage of the project which will see us bring forward the new office and residential buildings around a new destination space in West Bar Square” – Phil Doyle, Director
5plus hope to submit the first reserved matters planning application later this year.