Yorkshire-based developer Scotfield is to develop an £85m build-to-rent scheme in Sheffield’s city centre.
The development comprises 479 flats and 10 townhouses, to come forward in two phases. The scheme will also include a gym and library, alongside workspace, a residents’ lounge and landscaped public space.
It will span four buildings of between six and 19 storeys built around external courtyards and green spaces.
The site is located on the corner of Hoyle Street and Shalesmoor, next to the former HSBC offices, with a tram stop providing access to key employment hubs in 10-15 minutes.
Scotfield owns the land and has been advised by build-to-rent consultancy LIV Group. The partners are currently seeking institutional funding to bring the scheme forward and have submitted a planning application to Sheffield Council.
Martin Rapley, Scotfield Group managing director, said: “The Mirador development represents a highly significant opportunity to deliver a landmark mixed-use scheme for the city of Sheffield, enhancing its status as one of the UK’s most dynamic, growing cities outside of London.
“Sheffield is a thriving city known for a high level of graduate retention with a growing professional workforce so there is a genuine need for high quality private rental homes and the Mirador has been designed to provide these.”
Graham Bates, executive director at LIV Capital, said: “This will be a milestone for the BTR sector in Sheffield, which is an increasingly important part of the Northern Powerhouse.
“We are already in discussions with major institutional funders who recognise the importance of the city and the general lack of quality supply coming through.”
Scotfield Group was founded by Martin Rapley, the developer behind the £150m Gateway scheme in Leeds city centre. Mirador will be its second scheme in Sheffield, after delivering 376,737 sq ft at the Ikea scheme.
Sheffield is the UK’s fourth largest city but, despite a large supply of student accommodation, there is currently no operational BTR scheme in the city. According to the BPF’s most recent statistics, there were 2,008 units at various stages at the end of 2018.
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