Five-star hotel in the works part of multi-million pound Chinese investment
A FIVE-STAR hotel and a major PRS development are being planned for Sheffield as part of an initial £220m deal made with Chinese construction company Sichuan Guodong Group.
The group signed a deal with Sheffield City Council in July 2016 that would see an initial £220m injected into the region in the next three years over five projects.
The investment will contribute up to £1bn over the next 60 years.
The first two projects that Sichuan Guodong are looking to develop have now been revealed.
The company is looking into the feasibility of using Sheffield’s central library building. The library would be moved to another city centre site.
Sichuan Guodong are also looking to undertake a private residential development (“PRS”) scheme in the West Bar area of the city.
The city of Chengdu will be developing a Sheffield school and the report also details trade agreements between Sheffield and the Chinese cities of Nanchang and Daqing.
Councillor Leigh Bramall, Deputy Leader of Sheffield City Council, said: “We are four months down the line from signing this historic deal with Sichuan Guodong Group. There has been a huge amount of work to progress these projects and ensure that this investment will deliver real benefits for people in Sheffield.
“When we announced this partnership in the summer we said that it had the potential to be transformational for the city, unlocking hundreds of millions of pounds for the regeneration of the city centre. Delivering a five-star hotel in the city is exactly what Sheffield needs to support the vibrant, growing city centre we need.
“It’s important to be absolutely clear though that nothing is a done deal here. We are still at the early stages and this approval starts a 12-month process where Guodong will scope out the feasibility of the project.
“This gives us the time we need to look into the best options for the central library service, and we are absolutely clear that we will only do the final deal on this project if it is right for the city.”
Councillor Jack Scott, Cabinet Member for Community Services and Libraries, said: “The truth is that the central library building is not currently fit for purpose or accessible, and would require tens of millions of investment, to house the fantastic modern library service that our city needs and deserves.
“I understand that people want security and information about what will happen to the service. So we are being transparent about the process that we are going through.”
A public meeting to address any further questions people may have about the Central Library will take place as part of ongoing public consultation on the 6th December at 5.30 – 7.30 pm in the Town Hall, Reception Room A.
