Sevenstone Retail Scheme Revived in Sheffield
Sheffield City Council has concluded an updated agreement with developer Hammerson for its mothballed £600m Sevenstone retail scheme to be restarted.
The 20-acre scheme, comprising 860,000 sq. ft. of retail space in 100 shops and a 269,000 sq. ft. John Lewis store which anchors the development. There were also plans for apartments but the development stalled due to funding issues.
However, Hammerson is now looking to revise the plans by reducing its overall size yet increase the leisure elements, after securing a £10m loan from Sheffield City Council to buy the land needed to construct the scheme.
In another exciting step for Sheffield's retail offer Scottish Widows has submitted plans for its revamp of The Moor. SWIP hopes to develop a 55,000 sq. ft. retail block at the top of The Moor opposite Debenhams. A planning decision is expected in Autumn 2011. This goes in hand with the redevelopment of the Sheffield Market's development at the foot of The Moor which has consent for a 200-stall marketand six shops. Constructions should be completed by late summer 2013. SWIP bought the Moor from RREEF in February 2010 for around £26.5m.