Joint venture announced to deliver £175m West Bar Square
Joint venture announced to deliver £175m West Bar Square
12/10/2016
Peveril Securities, the development arm of Bowmer & Kirkland Group, has been announced as the delivery partner for Sheffield’s £175m premier mixed-use development, West Bar Square.
Local developer Urbo Regeneration has worked closely with project partners Sheffield City Council in finalising the joint venture deal with Bowmer & Kirkland. The creation of the new company, Urbo (West Bar) Ltd, formalises the partnership to deliver West Bar Square.
Bowmer & Kirkland is one of the UK’s most successful privately-owned construction, engineering and development a groups. Already active in Sheffield as the lead contractor on many major projects, including Sheffield University’s Advanced Manufacturing Research Centre, St Paul’s Place and the New Era development; Bowmer & Kirkland brings substantial financial backing and large-scale construction experience to the partnership.
The announcement follows the recently submitted Outline Planning Application for West Bar Square and marks another major project milestone.
West Bar Square has been designed to provide up to 700,000sq ft of office space and 500,000 sq ft of residential apartments together with restaurants, cafés, shops and high quality landscaped areas.
The masterplan for West Bar Square has been designed by Urbo’s award winning team, 5plus architects and Urbed, working closely with Sheffield City Council to ensure the completed scheme will form a distinctive new extension of Sheffield City Centre.
The project will create a series of office and residential buildings focused around the new West Bar Square. This major landscaped space, comparable to Millennium Square in scale, will link Sheffield’s Cathedral Quarter to the Riverside and provide a vibrant mixed-use environment.
Ralph Jones, Managing Director of Peveril Securities Limited and Main Board Director of Bowmer & Kirkland said: “We are thrilled to enter into this JV with Urbo on such an exciting scheme. This will enable us to bring our development and construction expertise to the project, together with our financial strength. We are looking forward to a continued working relationship with Sheffield.
Urbo’s Managing Director Peter Swallow said: “We are delighted that Bowmer & Kirkland is on board as Urbo’s delivery partner. Our ambitious West Bar Square scheme will transform Sheffield’s Riverside Business District, providing a site easily able to provide for the very largest office space requirements.
“We have worked tirelessly with Sheffield City Council over the last 12 months to secure the partnership and we are now well placed to forge ahead with the development of the site.”
Councillor Leigh Bramall, deputy leader of Sheffield City Council and cabinet member for business and economy said: “Sheffield City Centre has a crucial role to play as the commercial business district for the city and wider City Region, delivering jobs and helping to create the diverse economy we need to thrive. West Bar Square will significantly strengthen the city’s status as a key location for business and professional services, supported by improvements made in the area such as Grey to Green and the recently-completed Love Square.”
BNP Paribas and Knight Frank have been appointed as joint agents for West Bar Square. Their details, together with information about the development, can be found at www.westbarsquare.com.
