Regeneration firm LCR has acquired a parcel of land in central Sheffield in a £5.4m deal.
The £51m turnover firm, which has offices in the South Yorkshire city as well as in London and Manchester, has plans to redevelop the 1.82-acre site on St Mary’s Road which is currently home to retail warehouses. In announcing the move, LCR said it was part of its work to regenerate the area nearby Sheffield station.
A partnership between LCR and Sheffield City Council, Homes England, South Yorkshire Mayoral Combined Authority and Network Rail has established the Sheffield Midland and Sheaf Valley Regeneration Framework, which sets out a vision to improve connectivity with neighbouring communities. LCR said the regeneration will include improving connections around the station, better public realm features and mixed-use development.
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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.”
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.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
