Being a developer in Sheffield is a real pleasure. It is one of the most vibrant cities in the UK and barely a week goes by without further progress being announced. Whether it is a big new commercial development or the latest improvement to quality of life in the city, it is an exciting place to be.
The last few months have been no exception, with a whole range of new initiatives and additions coming to fruition. Here are some of our favourites:
Sheffield hydrogen firm to build new HQ
ITM Power, a world leading hydrogen energy systems company, has decided to upgrade its manufacturing space following a record increase of £9.4m worth of contracts secured since February. The company’s total contract backlog is now more than £45m.
The firm currently employs 200 people at two sites, one in Sheffield Business park and one on Atlas Way, which are due to be closed as part of the move to the new facility. We can reasonably expect more jobs to be created as the company grows, with chief executive Graham Cooley saying: “For a variety of reasons this was a better option for us. It is brilliant from a logistical point of view and we’re very excited about this fantastic development.”
The new facility will be located at Bessemer Park from March 2020.
First retail tenants for Heart of the City II
Sheffield’s £470m Heart of the City II scheme is the next long-awaited phase of its city centre transformation. As well as being the site of HSBC’s new flagship office, this scheme will bring a significant amount of retail space to Sheffield, and this week the first two clients were announced – Monki and Weekday.
Both are bold and creative Swedish fashion brands that particularly appeal to younger shoppers. Clients like these epitomise the confident, creative place that Sheffield is and are a statement of intent on behalf of Heart of the City II.
Daniel Herrmann, managing director of Weekday, added: “We have had great success in London and are now thrilled to be opening our first store in northern England, enabling more customers to experience our brand.
“Sheffield is the home to a vibrant creative scene, and we look forward to meeting this great community.”
Overall, Heart of the City II is projected to create 7,000 jobs, directly and indirectly, as well as £3.7bn of economic activity by 2030.
Advanced Manufacturing Research Centre (AMRC) has national impact
The AMRC is at the heart of the Sheffield City Region’s 21st century manufacturing revolution, with international giants including Boeing and McLaren Automotive choosing the region for major new investments. This has boosted the regional economy and, it was revealed in June, has been a major positive factor for other parts of the country as well.
The Parks and Innovation Report, launched in May by Centre for Cities, shows how work with Rolls-Royce at the AMRC de-risked a £100m in a North East facility and secured 300 high value jobs. Likewise, work done with Airbus is helping to secure 6,000 jobs in North Wales. This means that Sheffield’s AMRC is vital to the delivery of the government’s overall industrial strategy as well as a key part of expanding the region’s economy and expertise.
The next big step is the recent announcement that the UK Atomic Energy Authority is bringing central parts of its nuclear fusion energy research from Oxford to be closer to the so-called “golden triangle” focused on the AMRC. This is a £22m investment which will further concentrate research expertise in the Sheffield City Region.
Zero carbon by 2030
Sheffield City Council has recently released the Tyndall Report which lays out a framework for how the city can become carbon free by 2030, joining Greater Manchester in restating this ambition. It also came in the same week the city launched its Clean Air consultation to improve air quality and the health of residents.
The Report recommends that Sheffield emit no more than 16 million tonnes of carbon in the next two decades, though drastic action will be needed to achieve this given that this carbon budget is normally exceeded in just six years. The City Council is opening discussions on how this can be done and also convening a Citizen’s Assembly.
What can be said is that adhering to these ambitious carbon targets would make Sheffield an even more attractive place to live and work than it already is. Councillor Lewis Dagnall, Cabinet Member for Environment and Climate Change said: “By receiving the independent report of the Tyndall Centre for Climate Change Research today, we are making a major step forward in our understanding of the climate emergency.”
All of these, and more, make Sheffield an exciting place to be – and we’re not the only ones who think so. The City Council is expecting the city’s population to grow at least 15% by 2035 as more and more people move to South Yorkshire. A large number of these will be exactly the sort of young professional workers who want to live in an environmentally friendly city which is home to both the jobs of the future and the trendiest high street shops.
Many of these young people will require high quality rental accommodation like that found at Great Central, our first development in Sheffield which is located adjacent to Kelham Island – the city’s most popular rental area. Construction is well underway and apartments are selling fast! If you are looking for your next high yielding UK buy to let property investment, find out more about Great Central by clicking here and get in touch today.