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SheffieldΓÇÖs West Bar Development to be Resumed

SheffieldΓÇÖs West Bar Development to be Resumed has reported that property development and investment company, Urbo, is keen to take on plans to revive the West Bar area of Sheffield.

Back in 2008, a £400m scheme was revealed by Sheffield Council, with plans to regenerate the riverside, north of the city centre. Delivering office and retail space, along with hotels and restaurants, Castlemore Securities were the firm chosen to take forward the proposals. However, a year later the plans were stalled as the economic downturn took another victim, and forced Castlemore into administration.

Urbo are now keen to re-ingite the development plans, with the assistance of PriceWaterhouseCoopers (Castlemore Securities’ administrator) and Sheffield Council.

Cabinet member for business, jobs and growth at Sheffield City Council, Councillor Helen Mirfin-Boukouris has said; “Transferring the development agreement to Urbo will allow them to restart the process of delivering one of the city’s key regeneration projects.”

“This is a huge and very significant project for the city, and one that will totally transform the site over the next ten to 15 years as well as creating more jobs for local people. It will also bring an end to uncertainty for businesses who own or occupy premises in the area.”

The development is part of a long term vision perceived by Sheffield Council delivering an extended city centre, creating job prospects and boosting the local economy. witnessed strong growth in the serviced office sector in Sheffield with a rise in enquiries and new tenants. The first 6 months of 2011 saw a 200% increase on the amount of serviced office space being taken, in comparison with the same period in 2010.

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Author: | August 12, 2011 | 0 Comments

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