Sheffield’s West Bar, a £300 million mixed-use project in Sheffield City Centre, has recently begun its first phase of construction. Legal & General and Urbo (West Bar) Ltd., a partnership between Urbo Regeneration and Peveril Securities, are leading it, along with partners Sheffield City Council and Bowmer + Kirkland Group.
To complete the first phase of Sheffield’s West Bar, Legal & General has given developers Urbo (West Bar) Ltd. £160 million in forwarding investment. In the heart of Sheffield, this is the single biggest private investment deal.
The demand for investment in real assets in UK cities and towns has never been stronger. This is according to Bill Hughes, head of LGIM Real Assets. “Legal & General is committed to working with civic authorities and leaders to unleash city redevelopment and assure the sustainability of socially and economically significant UK developments; Sheffield’s West Bar development is an example of such partnerships,” the statement reads.
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Features of the Sheffield West Bar Project
The project will provide new, high-quality office space, residences, and green public areas on the gateway site. When finished in 2024, this first West Bar phase will provide the following:
- No. 1 West Bar Square – a 100,000 square foot Grade A office building featuring ground-floor retail space and a roof terrace.
- Soho Yard – a £78m development comprising 368 build-to-rent apartments owned and operated by Legal & General.
- Car Park – A 450-space multi-story car park with around 300 cycle storage spaces and electric car charging points.
- West Bar Square – a new commercial location, a beautifully landscaped public space in Sheffield, and the center of the West Bar neighborhood.
Asteer Planning provided planning guidance to architects 5plus during the design of Sheffield’s West Bar project. When the entire seven-acre project is finished, West Bar will offer up to one million square feet of mixed-use space. This will include 500,000 square feet of office space, residential space, and parking with supporting facilities.
