From left: Ralph Jones, MD of Peveril; Sir John Kingman, L&G group chair: Kate Josephs, SCC chief executive; Andrew Kail, CEO L&G Institutional Retirement; Cllr Tom Hunt, SCC Leader; Ben Rodgers, L&G head of regeneration. Credit: via French PR

L&G hands over No. 1 West Bar Square

21 October 2024 14:03 Neil Tague Comments (0)

Sheffield City Council has taken possession of the 100,000 sq ft office building, part of phase one of West Bar’s £300m regeneration masterplan.

Legal & General is backing the first phase of development in a £150m deal with SCC and Urbo West Bar, a joint venture between Urbo and Peveril Securities, the development arm of construction group Bowmer + Kirkland.

B+K is the contractor on the office building. BNP Paribas Real Estate’s Sheffield office and Cushman & Wakefield’s Leeds office are joint agents.

When complete, the overall scheme will deliver office buildings totalling 500,000 sq ft neighbouring Sheffield city centre and the Kelham Island neighbourhood.

The other elements of phase one will see public realm and 368 build-to-rent apartments delivered across two buildings.

No.1 West Bar Square acts as a gateway to the development. It features a curved, curtain glass façade, with eight storeys boasting floorplates of up to 14,000 sq ft, with BREEAM Excellent and EPC A targeted.

Ben Rodgers, head of regeneration, L&G Asset Management, said: “I’m delighted to hand over the office space to Sheffield City Council. We’re one step closer to delivering our vision for West Bar: to provide a much-needed new quarter for the centre of Sheffield, fulfilling our commitment to the city’s housing, jobs, and strategic regeneration.

“This important scheme will drive innovation, social impact, and economic growth, strengthening Sheffield’s position as a leading UK city. We’re delighted with progress made so far, and look forward to continuing our partnership with Urbo, Sheffield City Council, and the local West Bar community.”

Cllr Ben Miskell, chair of the transport, regeneration and climate policy committee at SCC, said: “This is a fantastic moment in the regeneration of Sheffield and marks the completion of a soon-to-be iconic building on the city’s skyline. Our vision for West Bar is an incredibly exciting one and will add to the appeal of the city centre being a place to live, work, and enjoy.”

Phase two plans for West Bar include a second L&G-funded, 100,000 sq ft office building, a 450-space multi-storey car park building and additional new public realm.

Peter Swallow, managing director at Urbo, commented: “We have worked closely with stakeholders for many years to bring forward an important regeneration scheme that can majorly support the city’s current and future housing, jobs, and regeneration needs.”