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Land at Kelham Island, Sheffield

Land at Kelham Island, Sheffield

A 3.8 acre development site with Detailed Planning consent for 310 apartments, consisting of the conversion of Grade 2 Listed buildings, and the balance as new build.

The site is located within 1km of Sheffield City Centre, in the heart of Kelham Island. Whilst the surrounding area had witnessed some limited regeneration prior to the 2008 recession, this opportunity represented the single largest land holding in the area and offered a unique chance to kick-start and shape the further regeneration of the wider area. The adjacent site had been developed by our clients, who retained an interest in over 60 apartments, the retail and commercial accommodation and the freehold (subsequently sold by ourselves) and as such were keen to see the subject site developed to enhance the surrounding area.

At the time of marketing (2011), there was little demand for opportunities of this type and scale. The vendor required an exit of the site at the earliest opportunity, whilst also maximising capital receipt.

Through a targeted approach, numerous offers were received for the land. The eventual purchaser was identified at an early stage as a developer with both the financial capability to acquire and deliver the site, and also the vision to develop a scheme that will enhance the surrounding area. Following extensive negotiations, a sale was agreed at a level that exceeded expectation, on an unconditional basis. The purchaser is now well advanced with a multiple award winning development, setting a benchmark for both design and sustainability.

This is an ideal example of our understanding the current market conditions, our unrivalled intelligence of active developers and identifying their requirements at any given time. It is also hugely satisfying to see a developer deliver a scheme of a quality envisaged at the outset that has been a true success.

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