Legal & General is investing £150m into the first phase of Sheffield’s mixed-use West Bar Square development.
L&G is working alongside developer Urbo and Sheffield City Council to bring forward the scheme, which will comprise 200,000 sq ft of office space and 350 build-to-rent homes, as well as a multi-storey car park and public spaces.
Nigel Wilson, Legal & General’s chief executive, said: “Our vision for West Bar Square is to deliver a much needed new quarter for the centre of Sheffield. During these unprecedented times, it is absolutely imperative that institutions continue to push forward with deals such as these, so we can position the UK for an accelerated recovery and lay the groundwork to support those most in need in society.”
Mazher Iqbal, Sheffield City Council’s cabinet member for business and investment, said a shortage of new grade A office space in Sheffield’s city centre was threatening the local economy. He added: “As a council we are helping to address this through making sensible targeted interventions in the market with partners. This development will create modern floorspace for thousands of jobs; hundreds of high quality new homes and improve neighbourhoods right in the heart of Sheffield.”
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