Plans unveiled for new Sheffield retail scheme
Sheffield City Council has unveiled plans to transform the heart of Sheffield city centre with a new Â£480 million retail led scheme.
Designed by retail development specialist Leonard Design Architects, the 900,000 square foot scheme will be predominantly retail and leisure but will also include over 200,000 square feet of residential and office space.
Nalin Seneviratne, director of capital and major projects at Sheffield City Council, said: “These new plans provide a navigable, varied and attractive new shopping district for Sheffield city centre. The design merges with Sheffield’s award winning public realm and world renowned cultural assets – including The Crucible and The Lyceum theatres - and unites key retail pitches in the city centre from The Moor through to Fargate. 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.”
The new scheme will feature a street-based city centre district that is complimentary to Meadowhall shopping centre. Contemporary fashion stores will be situated in units along Cross Burgess Street and Pinstone Street and prime fashion multiples will sit alongside an anchor store.
Seneviratne added: “Sheffield Retail Quarter Fargate and The Moor will be the epicentre of retail and leisure in the centre of Sheffield offering the pinnacle of mid-market and premium brands, along with an exciting array of leisure and catering destinations. The Devonshire Quarter will continue to be a breeding ground for exciting vintage and independent brands.”
Research has shown that Sheffield has 32% less mid-market retail than the benchmark average for city centres, and 85% less upper mid-market retail. Sheffield City Council says that fashion and catering are significantly undersupplied, at 37% and 41% respectively.
Jonathan De Mello of Harper Dennis Hobbs, which along with Lunson Mitchenall is advising Sheffield City Council, 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.”
The council hopes that operators will benefit from £9 billion available spend from a catchment of 2.6 million people within a one hour drive time of the city.
Councillor Leigh Bramall, the Council’s cabinet member for business, skills and development, added: “Our tenant mix strategy embraces the views and market intelligence provided by our advisors. We recognise that Sheffield city centre currently has a very small proportion of fashion floor space against the national average but scrutiny of regional demographics and weighted average spend has allowed us to carefully plan the optimum size for the retail quarter.”
The council said it is currently engaging with potential strategic development partners through a procurement process and expects to deliver the new scheme during 2019.
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