Approval for penultimate phase of £75m Sheffield scheme

Plans for the penultimate phase of a £75m Well Meadow regeneration development in Sheffield city centre have been approved.

Manchester-based developer, Panacea Property Development, submitted plans for two buildings which will deliver 284 residential apartments consisting of 133 two-bedroom units, 139 one-bedroom, and 12 studios.

Situated just off Netherthorpe Road, close to the Well Meadow Conservation Area, the development has been designed specifically for the build to rent (BTR) market.

The developer says provision of a high quality private apartment rental offer in this location will complement the wider regeneration of the area and help to attract and retain the skilled workers needed in a modern city economy.

Phase I of the mixed-use development was delivered in September 2016, in a joint venture with Worthington Properties, and provided more than 305 student accommodation units, which are now fully occupied.

Gareth Riddell, managing director of Panacea Property Development, said: “This approval offers us the opportunity to deliver the penultimate phase of this project.

“Panacea has worked closely with Sheffield City Council for more than two years to ensure that our plans for this next phase of development provide excellent design standards.

“The scheme we’ve now received approval for achieves the council’s aspirations for the delivery of institutionally-backed build to rent accommodation within this important regeneration area.”

Architects MCAU and Leach Rhodes Walker designed the scheme. Zerum is engaged as planning consultant and project manager. Curtains is the engineer.