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.”