Sheffield developer looks to raise Velocity

                        Sheffield-based Velocity Estates is trying to raise the height of its 217ft mixed-use tower in the South Yorkshire city by 137ft, despite it being close to completion.   The developer has already built most of the 22-storey Velocity Tower in St Mary’s Gate, but now wants to add an extra 14 storeys to the mixed-use scheme.   If approved, the tower would reach 354ft – 26ft taller than City Lofts’ St Paul’s Tower – and would become South Yorkshire’s tallest.   The extra height would enable Velocity to increase the number of flats in the scheme from 140 to 290, and to include a hotel and bar on the 36th floor that would be open to the public.   The cost of developing the tower – which will also comprise 4,000 sq ft of offices at ground level – would rise from £60m to £75m.   Velocity said it wanted to increase the size of the tower because of the “phenomenal interest” in it.   The developer claimed that it had not seen any sign of a slowdown in the residential market.   If planning permission for the new 36-storey tower is granted, completion would be scheduled for the middle of next year.   patrick.clift@rbi.co.uk