Sister company of Chesterfield Waterside developers signs £150 million regeneration deal
The sister company of Chesterfield-based Bolsterstone Group Plc, the company delivering the Chesterfield Waterside project, Urbo (West Bar) Ltd, has signed a major £150 million funding deal with Legal & General.
The deal will bring forward the first phase of a Sheffield city centre mixed-use regeneration scheme – West Bar Square, which will deliver large footprint, modern office space, currently lacking within Sheffield’s property market. Once complete it will accommodate up to 1,800 workers, along with residential accommodation and car parking.
Peter Swallow, Managing Director of Bolsterstone Group Plc and Urbo (West Bar) Ltd, commented: “The world as a whole is in unchartered territory at the moment and these are deeply concerning times for everyone. However, the funding deal with Legal & General and the progress we are making with the office accommodation at Chesterfield Waterside are very much positive signs for the UK’s economy.”
“Although the country is currently in lockdown, investors are already starting to look beyond this, which points to an economic recovery sooner rather than later.”
The £150 million West Bar Square phase 1 scheme comprises 200,000 sq. ft. of Grade A office space, circa 350 ‘Build To Rent’ homes, a multi-storey car park and high quality landscaped public spaces.
Peter Swallow added: “ The funding partnership we have agreed with Legal & General will guarantee delivery of large scale regeneration in this important part of the city, linking the rapidly expanding Kelham Island district to the city centre.”
As well as West Bar Square, Bolsterstone’s £300million Chesterfield Waterside scheme continues to move forward apace. Avant Homes has begun construction of 177 new houses in the Waterside Quarter of the scheme, which already have a number of sales reservations, and the company is in advanced talks with occupiers for the majority of the space in the seven-storey office block planned for the Basin Square neighbourhood, which is due to start on site in the summer.
Click here to find out more about Chesterfield Waterside and what it means for the area
