//Heart of the City II

Published 6th March 2019 at 9:41am

Key Information

Location: Sheffield, S1 4HF

Land Owner: Sheffield City Council

LEP Area: Sheffield City Region

GDV: £100m+

Overview

Heart of the City II is a landmark £470m scheme that is set to transform a key area of Sheffield city centre.

With a development capacity of 1.5 million sq ft, it is being delivered by Sheffield City Council, with Queensberry as its strategic delivery partner.

It is expected that Heart of the City II will attract new retailers to the city centre. The scheme will provide Grade A office space, two 4 or 5-star hotels, residential developments, restaurants and cafés, leisure destinations, parking and stunning public spaces – all creating the type of high-quality central quarter that helps attract jobs and investment.

The ambitious scheme will create a vibrant quarter at the heart of the city, which will become the new focal point of Sheffield’s retail, leisure and business offer.

Opportunities

Seeking investors

There are excellent opportunities to invest in the completed development or to work with Sheffield City Council and Queensberry to develop or fund future phases of the Heart of the City II. The scheme offers great market investment potential and long-term growth opportunities.

The total investment required is £306m and £164m (from SCC Prudential Borrowing) has already been secured.

Looking for occupiers

There are many opportunities for retailers, food & beverage and leisure operators (almost 19,000 sq ft of retail space is currently available with 17,000 already let) to occupy premises here.  There is also 25,000 sq ft of office space currently under offer. Phase 2 is now under construction.

This project will include:

  • Retail space: 181,847 sq ft
  • Commercial: 481,818 sq ft
  • Leisure: 134,160 sq ft
  • Hotel: 248 beds
  • Residential: 400 apartments
  • Vehicle parking facilities

Heart of the City II is being developed through a phase-by-phase approach, which provides the flexibility to change layouts and designs along the way and adapt to future demands.  It is envisaged that 6,923 new jobs will be created, post construction, on the completion of the project in 2024/2025.

Visit: www.heartofcity2.com

Want to know more? Contact: Gareth Morgan – Senior Business Development Manager
E: Gareth.Morgan@scrinvest.com – T: 0114 220 3432 – M: +44 (0) 7800551495

Click here to explore the opportunity on our interactive map.