Next Steps Moving Forward For Old John Lewis Site

[Bargepole23 337]

29 minutes ago, Jack Grey said:

Urban Splash don't have any money

 

It's why it's taken them over 20 years to compete only 75% of the Park Hill redevelopment 

Regardless, they seem to be busy doing lots of development in lots of places.

 

I doubt they save up a load of money and then splurge it on a project. Just refinance their existing debt, and raise capital.

Edited December 18, 2023 by Bargepole23

[Baron99 779]

Update on the John Lewis site. 

https://www.thestar.co.uk/business/cole-brothers-developers-issue-timeline-amid-concerns-it-could-take-years-4538480

 

Concerns it could now take longer to develop. 

[RollingJ 2,002]

6 minutes ago, Baron99 said:

Update on the John Lewis site. 

https://www.thestar.co.uk/business/cole-brothers-developers-issue-timeline-amid-concerns-it-could-take-years-4538480

 

Concerns it could now take longer to develop. 

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[Baron99 779]

7 minutes ago, RollingJ said:

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Developers have issued a timeline for a revamp of the former Cole Brothers store in Sheffield amid concerns it could take years.

 

Urban Splash is "very close" to signing a 250-year lease for the Barker’s Pool building with owner Sheffield City Council and launch public consultation in April.

 

It hopes to stage one-off and pop-up events on the ground floor by the end of summer and gain planning permission by the end of 2024, according to Mark Latham, development director at Urban Splash.

 

Redevelopment is set to start towards the end of 2025 and last until the end of 2027 - if everything goes to plan and there is the interest from occupiers, he added.

 

The firm has put forward plans to turn the building into cafes, shops, offices and events space. 

 

Urban Splash has been revamping Park Hill flats since 2004 and some Star readers were concerned 'Cole Store' could also take 20 years.

Mr Latham said: "It’s a very different problem. It’s a single building and a very significant, prime site and we’re almost coming in at the end of significant regeneration that’s achieved so much. It’s an usual position for us. More often we are in at the beginning having to change minds.

 

"With Cole Store, there’s a huge amount of goodwill and memories."

 

The former John Lewis department store is at the centre of the £470m Heart of the City II redevelopment zone. Funded by Sheffield City Council, it is set to include a Radisson Hotel, huge food hall, shops, workshops and offices, all opening this year.