Funding secured for Sheffield’s West Bar Square mixed-use scheme

Legal & General has agreed to invest £150M in the first phase of Sheffield’s West Bar Square development.

The scheme is being developed by Urbo (West Bar), a joint venture between Urbo Regeneration and Peveril Securities, the development arm of the Bowmer and Kirkland Group.

The first phase of development will comprise 18,500m² of Grade A office space, 350 ‘Build to Rent’ homes, a multi-storey car park and high quality landscaped public spaces.

Peter Swallow, Managing Director of Urbo Regeneration said: “This is a massively significant investment for Sheffield and is a vote of confidence in the future of the City as a whole. The partnership will deliver large scale regeneration in this important part of the City, linking the rapidly expanding Kelham Island district to the City Centre.”

Ralph Jones, Managing Director of Peveril Securities and main board director of Bowmer & Kirkland said: “We are delighted to enter into this exciting partnership and are already working with Legal & General on a similar major Government Hub office scheme in the Midlands. We are looking forward to the possibility of working together again to deliver this market-leading development in Sheffield.”

Councillor Mazher Iqbal, Sheffield City Council Cabinet Member for Business and Investment, said: “This is fantastic news and yet another example of how we are attracting major new investment partners into the city. We are repeatedly being told that there is a shortage of new Grade A office space in the City Centre which could have a negative impact on the local economy in terms of options for new or existing businesses to move and expand.”