Legal & General in £150m Sheffield investment

Sheffield’s West Bar Square

Legal & General said on Tuesday it will invest £150 million into Sheffield’s West Bar Square development to deliver the first phase of the mixed-use project in partnership with developer Urbo and Sheffield City Council.

The development will comprise 200,000 sq ft of Grade A office space, 350 Build To Rent homes, a multi-storey car park and landscaped public spaces.

“The first phase will deliver large footprint, modern office space, currently lacking within Sheffield’s property market, and is expected to accommodate up to 1,800 workers,” said Legal & General.

“To bring forward the scheme, Legal & General has partnered with Sheffield City Council and Urbo (West Bar) Ltd – a joint venture between Urbo Regeneration and Peveril Securities (the development arm of the Bowmer and Kirkland Group).

“Legal & General has invested billions of pounds into urban regeneration projects across the UK.

“This includes partnerships with Local Authorities in Cardiff, Salford, Newcastle and Sunderland, as well as central government bodies such as Homes England and world leading universities.

“Legal & General is using its varied capital streams, from start-up funding to long term UK pension money, to reshape the urban landscape; providing the significant investment needed to help cities adapt, change and innovate.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.