The Moor moves forward
PLANS have been approved for a market development in Sheffield.
Scottish Widows Investment Partnership (SWIP) purchased The Moor Estate in Sheffield from RREEF (UK) in February and has been working closely with Sheffield City Council to finalise a deliverable markets development scheme at The Moor.
Under the new deal, approved by Sheffield City Council, the freeholder of The Moor will provide SWIP with an extended lease on the estate in return for SWIP kickstarting the regeneration plans.
As in previous proposals, the Council will fund and own the new markets at a cost of up to £18m whilst SWIP will construct eight new shops fronting The Moor.
The long-term strategy also includes upgrading the outstanding areas of public realm on The Moor, the first part of which was completed earlier this year.
SCC’s cabinet has now signed off the principles of the agreement subject to the legal documentation being completed for what is also known as Block 6.
The site has planning approval for a 200 stall indoor market and 83,000 sq ft of new retail space, split across eight double height units featuring glazed frontages.
John Rawlinson, from Faithful+Gould, the development manager leading the team on behalf of SWIP, said: “We are delighted that we have reached this agreement with Sheffield City Council to start moving forward with the markets development on The Moor.
“We want to thank the people of Sheffield for their patience while we ensured we agreed a credible and deliverable high quality retail scheme for the city.
“We are fully committed to The Moor project however the coming months will be crucial in the speed of progression as we finalise the legal agreements and go through the procurement processes.”
Mr Rawlinson said SWIP hoped to complete the development by the end of 2012.
