LCR picks up Sheffield site for £5.4m
Buying the 1.8-acre site on St Mary’s Road forms part of the developer’s work with the council, Homes England and Network Rail to regenerate the area around Midland station.
The site is currently home to retail warehouses. LCR was advised on the acquisition by Cushman & Wakefield and Trowers & Hamlins.
LCR, Sheffield City Council, South Yorkshire Mayoral Combined Authority, Homes England and Network Rail have previously established the Sheffield Midland and Sheaf Valley Regeneration Framework, setting out a vision and planning context for development.
One of the over-arching intentions of the regeneration framework is enhancement of the sense of arrival into the city, improving transport connections around the station, new active travel routes, better public realm and mixed-use development.
Karl Drabble, regional director at LCR, said: “This is good news for the North’s rail infrastructure and this acquisition is an early milestone for progress around Sheffield Midland station.
“Over time, regeneration around the gateway to my home city of Sheffield will enhance capacity for improved public transport, create space for new homes and jobs, and promote greener, more accessible walking routes into the city centre.
“We know the role that regeneration can play in catalysing long-term economic growth, and a more connected community will be central to those ambitions. We’re looking forward to refining these plans in collaboration with the area’s residents, businesses and visitors to deliver the improvements the city deserves.”
LCR originated as London & Continental Railways, and starting from work on and around the Channel Tunnel rail link, has become a key vehicle in regeneration projects in station areas such as Kings Cross St Pancras and Stratford City.
The organisation is also a partner in the massive Mayfield project close to Manchester Piccadilly.
Sean McClean, director of regeneration and development at Sheffield City Council, said: “This is really welcome news, the area around Midland Station has masses of potential to be a new mixed-use neighbourhood filled with high quality homes and workplaces.
“It will become a major strategic regeneration focus over the coming years, so it’s very positive that our partners are willing to invest at this early stage.”