One of Sheffield City Centre’s most prominent development opportunities has been launched to market by CBRE’s UK Development Advisory team, acting on behalf of Sheffield City Council (SCC). The Barker’s Pool Building, a c.200,000 sq ft former department store, forms a significant element of the council’s £470m, 1.5m sq ft Heart of the City regeneration scheme which will provide active cultural, leisure, retail, residential and office uses to three sides of the property.
The Barker’s Pool building is in a prime position alongside the core central streets of Fargate, The Moor and Division Street. It offers a pivotal location which benefits from nearby landmarks including Sheffield City’s Town Hall and the award-winning Peace Gardens, as well as many food, retail and entertainment destinations.
“The Barker’s Pool Building presents an exceptional opportunity for a developer to bring forward a creative solution for this prominent building, delivering a sustainable, environmentally friendly scheme, which in turn will capitalise on the growth and development already being delivered across Sheffield City Centre. The building’s location at the core of the Heart of the City scheme will ensure its long-term prominence and we are looking forward to receiving proposals and discussing with prospective developers”.Alex Andrews, CBRE’s UK Development Advisory Team
Originally opened in 1962 as a department store with integrated car park, the property freehold is now owned by SCC who acquired the lease from John Lewis in January 2022. SCC is currently securing the building and commissioning various surveys. Works to remove asbestos and strip out redundant plant and machinery are currently out to tender and will commence in the next few months, with anticipated completion in Spring 2023.
The five-storey building sits across 1.25 acres. It can be sustainably redeveloped or repurposed for a wide range of uses including Build to Rent, subject to planning approval. CBRE is openly marketing The Barker’s Pool building in a two-stage process, seeking expressions of interest by June 2022 with the second stage starting at the end of the summer once initial expressions of interest have been assessed and discussed with bidders.
“We know how important this property is to the people of Sheffield and this is a once-in-a-generation opportunity to reshape a key city centre location. The decision on how the property and location is reimagined and its future use will be carefully considered.
“Although removing the existing building is an option, we are keen to ensure we examine all the options on the table, so we can make a fully informed decision. We plan to make the most of this rare opportunity and develop something truly special for Sheffield.
“As part of this process, we are inviting imaginative and deliverable proposals for either refurbishment or redevelopment of the property and are open to ideas around its future use. We look forward to receiving submissions of outstanding quality that will genuinely add to the vibrancy of the city centre and attract the widest possible number of Sheffield residents and visitors to the city.”Kate Martin, Executive Director, Sheffield City Council
SCC is seeking proposals that add to the vibrancy and attraction of the widest possible number of visitors and local people into the city centre. Proposals must be of very high quality to enhance what the council is achieving across the rest of the Heart of the City project and wider city centre. Proposals will be judged on economic, social and environmental benefits rather than purely financial, but will need to be commercially deliverable.