In April 2020, Legal & General signed the deal to invest £150m in Sheffield’s city centre regeneration. The company has now submitted reserved matters planning applications for the delivery of the first phase of Urbo’s West Bar Square development in Sheffield city centre. The planning applications include a new 100,000 sq ft office building, ground floor retail and leisure space and 368 Build to Rent apartments.
Urbo (West Bar) Ltd – a joint venture between Urbo Regeneration and Peveril Securities (the development arm of the Bowmer and Kirkland Group) – has submitted the application for No.1 West Bar Square. The development comprises eight storeys of large floorplate office accommodation with ground floor retail and leisure provision. Designs have been brought forward by architects 5plus.
“We are pleased to be able to submit this application to kickstart our delivery plans for the first phase at West Bar which ultimately aims to deliver up to 1 million sq ft of vibrant new mixed-use space.
“No.1 West Bar Square will offer large footprint, modern office accommodation, currently lacking in Sheffield city centre, with capacity at West Bar to accommodate more than 6,000 new jobs. The West Bar neighbourhood already boasts key office occupiers including the Home Office, top 50 law firm Irwin Mitchell and the Crown and Family Courts.Peter Swallow, Managing Director, Urbo
The applications represent a significant milestone for the £300m mixed-use scheme and it will deliver much needed Grade A office accommodation in the city centre. Once complete, the entire scheme is expected to create around 6,000 new jobs as well as supporting Sheffield’s major housing needs.
The plans for No.1 West Bar Square reflect its status as a gateway to the wider West Bar regeneration project. The scheme is accessible from Corporation Street, and the contemporary curved exterior design to the building will create an inviting entrance to adjacent public realm and the development beyond. With retail accommodation on the ground floor, the upper levels provide highly efficient floorplates up to 14,000 sq ft and a roof terrace with panoramic views across the city. Urbo will also create West Bar Square, the landscaped focal point of the project.
“Delivering West Bar, along with the commitment by Legal & General to invest £150m for the first phase, is testament to the strength of Sheffield as a considerable powerhouse in the North and an attractive place to live and work.”Ralph Jones, Managing Director, Peveril Securities
Legal & General is using its varied long-term sources of capital to support the levelling-up agenda, reshaping the urban landscape and providing the significant investment needed to help cities adapt, change and innovate. Legal & General is committed to investing in Sheffield and to supporting its post-crisis growth ambitions, where it recognises the high potential the city has to offer. Plans are also being drawn up for a second Legal & General funded 100,000 sq ft office building, and another application for a 450-space multi storey car park to serve West Bar Square.
“There has never been a more important time to invest in our regional cities, build back better and support new job creation. Legal & General is in a unique position to support the UK economic recovery through inclusive capitalism, investing long-term, patient capital into real assets to help regenerate our cities at pace.
“We have invested billions of pounds in this way across the UK, working with Local Authorities in Cardiff, Salford, Newcastle and Birmingham, as well as central government bodies such as Homes England and world-leading universities. Our vision for West Bar is to deliver a much-needed new quarter for the centre of Sheffield, delivering on the city’s housing, jobs and regeneration needs.”Nigel Wilson, CEO, Legal & General
Urbo has been working with Sheffield City Council for several years to bring forward this regeneration scheme, which has a prominent position on the Inner Ring Road between the booming Kelham Island district and Sheffield’s Cathedral and Castlegate Quarters. West Bar was granted outline planning consent in 2017 – and in 2019, a Compulsory Purchase Order to complete assembly of the site was confirmed. The site is now fully assembled and ready for work to start.