Property association launches first prospectus
Sheffield Property Association (S-PA), in conjunction with Invest Sheffield, today launched their new Sheffield Prospectus at a special conference held at MIPIM 2018.
The breakfast event in Cannes saw John Mothersole, chief executive of Sheffield City Council, and Board Members from the Property Association brief investors from the UK and overseas on the current investment opportunities and strategies shaping the city.
This event marked the unveiling of the Sheffield Prospectus 2018. This is the first document of its kind produced through close working between the public and private sectors in Sheffield. The list of schemes has been compiled by those with a detailed understanding of the property market in Sheffield.
Alexis Krachai, chairman of the S-PA, said: “Sheffield is undeniably a city on the up. Whether it is digital innovation, or excellence in engineering, our city is responding positively to rapid changes in the global economy. Average salaries are up, rents are up, and our economy has expanded by over 3% in the last 12 months alone.
“With this growth comes opportunities for further investment and new businesses. Alongside Sheffield City Council, we have put together this helpful prospectus that clearly identifies sites and schemes in Sheffield that present investors and occupiers with real choices to become part of the city’s future. This is not a prospectus of schemes that are not for sale or will never be built. It is a document that sets out clearly the opportunities to invest in Sheffield.”
Tim Bottrill, a Board Member of the S-PA, said: “The Property Association is only 11 months old but we are growing rapidly. We are very proud of all the work the Association is doing behind the scenes in Sheffield. This is about providing private sector leadership to help the city to grow even more rapidly. This prospectus includes schemes being promoted by our members and also non-members. It is about ensuring that external investors have an overview of the broad range opportunities available in Sheffield.
“We are seeing strong occupier demand across all sectors. Headline office rents will break £25 per sq ft at the same time that grade A & B availability is at an all-time low. There are investment and development opportunities across the whole of the city.”
John Mothersole, chief executive of Sheffield City Council, said: “I welcome the publication of this Prospectus that Invest Sheffield has put together with partners from the Sheffield Property Association. Our city is being increasingly shaped through open and transparent collaboration with the private sector. This is about growing an economy that benefits all. The schemes presented in the Sheffield Prospectus are just a selection of the opportunities available to those interested in investing in Sheffield.”
Schemes presented in the prospectus include those being promoted by Sheffield Hallam University, Turner Investments and Sheffield City Council.
Sheffield Hallam University is seeking a partner to develop a significant and landmark tower on their prominent site in Sheffield City Centre, directly opposite the railway station and close to the Bus Interchange.
The mixed use development could include A3 use at ground floor, a flexible 300-person conference and business space, a 200-apartment residential tower, and a 120 room 4 or 5-star hotel with conference and dining facilities with access to roof gardens.
Turner Investments are presenting a prime 250+ apartment build-to-rent opportunity with ground floor retail. Residents will be able to enjoy the excellent amenities in the immediate
locality and retail occupiers will benefit from one of the most high-profile city centre locations. A planning application is currently being pursued and Turner Investments will be seeking a partner to acquire the site on a forward-funded basis.
Castlegate will become the city centre anchor of the city region’s Advanced Manufacturing Innovation District with a focus on tech and creative start-ups. 200,000 sq ft of re-purposed buildings will host technical and support services together with collaboration, meeting and social spaces, taking full advantage of its distinctive and accessible setting.