Multi-million pound support package to breathe fresh life into disused building

A former grocer’s warehouse and coffee roastery in Sheffield’s Kelham Island district is set to be transformed into 40 apartments, supported by a £3.25m package from Lloyds Bank.

Developer Ashgate is regenerating the currently disused Nichols Building, creating a mixed-use scheme with private residential units along with 10,000 sq ft of commercial space.

Previously specialising in accommodation for Sheffield’s student community, this is the developer’s first private rental scheme.

It will retain many of the building’s original features, including mosaic tiling, stone and brickwork, and incorporate energy efficiency measures to minimise the development’s carbon footprint.

The development facility from Lloyds Bank is supporting the installation of key sustainability features including enhanced insulation, double glazing and 4,000 sq ft of solar panels that will provide heated water to the building.

Work is set to begin this summer, with the property to open its doors in May 2022.

After structural and renovation works complete, local designer 93ft will complete the scheme with a minimalist interior fit-out.

Matthew Jacques, director of Ashgate, said: “The Nichols Building has a rich history and is an iconic location in Kelham Island, so we were determined to give it a new lease of life.

“Our scheme will not only bring the building back into productive use, but will provide sustainable, eco-friendly living for residents of Sheffield.

“It’s been invaluable having Lloyds Bank by our side. With their support, we’ve been able to truly maximise the green credentials of the property without having to sacrifice any of its heritage and character.”

Peter Egan, relationship director at Lloyds Bank Commercial Banking, said: “Developers like Ashgate have a huge role to play in helping the UK meet its ambitious net-zero carbon targets.

“Forward thinking schemes like this not only help to preserve and regenerate much-loved community assets, but deliver new homes that are truly fit for the future.”

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