The East Midlands
Urbo Secures £150m of Investment to Unlock the First Phase of West Bar, Sheffield
West Bar CGI
Urbo have successfully agreed a funding deal with financial giant Legal and General to secure the delivery of West Bar, Sheffield. The investment represents the largest ever single private investment into commercial property in Sheffield and unlocks the first phase, which will see the delivery of No.1 and No. 2 West Bar Square, two 100,000 sq ft office buildings with ground floor retail space. They will offer Grade A employment space with the largest available floor-plates in the city aimed at attracting larger corporate occupiers to the city. Designed to meet the ESG agenda, the office buildings will be BREEAM Excellent with an EPC A Rating. Construction is well underway on the first buildings which will see delivery in June 2024.
West Bar as a whole is a £300 million regeneration scheme in Sheffield city centre comprising up to 1m sq.ft (93,000 sq.m.) of space including over 565,000 sq.ft (52,500sq.m.) office space, creating up to 8,000 jobs and over 525 apartments. Future phases are available on a design and build basis and Urbo are interested to speak with office occupiers or investors who are looking to take space in Sheffield.
Further information is available on our dedicated website –
westbar.com New Bolton Woods Taking Shape
Since being granted Outline Planning Consent for over 1000 new houses, Urbo has partnered with two house-builder partners to deliver the first two residential phases and this month Keepmoat Homes will complete the second phase - Woodlands View, bringing the total of new homes provided so far to over 200. In addition, Urbo has developed the successful Aldi store and a busy Costa coffee. These will shortly be joined by a new medical centre and further units are expected to follow quickly behind, providing a new centre for the growing local community.
The partners are now looking to press on with further development phases to strengthen the local centre and continue to rollout the vision set out in the planning consent. The delivery plan will follow the previous approach of partnering with a number of house-builders whilst Urbo will take the lead on commercial units. The type and tenure of housing will be varied and strong interest has been shown by specialist housing providers for space aimed at older living and care-related facilities. Urbo sees this as part of creating a healthy mix of housing in a growing and vibrant environment with plenty of green space and excellent transport links to Bradford and Leeds including a railway station within 5 minutes walk.
House-builders and other potential partners can find further details of New Bolton Woods at the project website -
www.newboltonwoods.com together with contact details for Urbo.
Chesterfield Waterside Continues to Deliver Chesterfield Waterside is an innovative and sustainable £340 million high quality, mixed-use, sustainable regeneration scheme. The 40-acre site straddles the River Rother and Chesterfield Canal and sits alongside the A61. The site capitalises on central UK position and its proximity to Chesterfield Train Station and major road networks.
Chesterfield Waterside Office
The first phase of private residential development is now mainly complete and has been delivered by leading UK housebuilder Avant Homes. The scheme provides 177 high-quality homes at Waterside Quarter, which is located on the former timber yard
site off Brimington Road. All of the homes within the site sold very quickly, with most being sold off-plan – a testament to the appeal of Chesterfield Waterside.
The first commercial element of Chesterfield Waterside in Basin Square, is known as One Waterside Place and delivers circa 35,000 sq ft of Grade A office space on floor plates in excess of 5,5000 sq ft. The building was forward funded by Chesterfield Borough Council and completed in October 2022.
It has proved a huge success and is fully let to occupiers including BHP Accountants, Varley Clothing, Rosewood Wealth and global suppliers Anixter. This all goes to show that Chesterfield Waterside is becoming the ultimate destination to live, work and play, and is delivering a thriving and successful new part of the town centre.
The next phase of Basin Square will seek to deliver a hotel, multi-storey car park and residential accommodation, centred around the new canal basin and pedestrianised public realm.
Further investment opportunities are available within the Waterfront, Riverside East and Station Place character areas within the Chesterfield Waterside masterplan. For more information please see our website
www.chesterfieldwaterside.com
COMMERCIAL PROPERTY MONTHLY 2023
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