Plans for the West Bar Square scheme comprises of a mix of office space, PRS apartment blocks, a four-star hotel, restaurants, and retail units on a city centre site.
With permission granted by the city council for the delivery of a flexible masterplan comprising up to 1.4 million sq ft of city centre space, consent is also in place for associated landscaped public spaces.
The scheme will be delivered via a joint venture (JV) between Urbo Regeneration and Bowmer and Kirkland's Peverill Securities, Urbo (West Bar) Ltd.
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Designed by 5plus architects and master planners Urbed, up to 5,000 jobs are expected to be created by the project.
The site assembly and clearance process is already underway, with a view to start work as soon as possible, subject to approvals for individual buildings designs once investors are secured.
Peter Swallow, Managing Director of Urbo Regeneration, said: "The granting of outline planning consent represents another key milestone for the West Bar Square project and brings this ambitious scheme closer to delivery. Working in partnership with our delivery partner, Peveril Securities, I am confident we will be able to secure occupiers and investors and move forward with detailed planning applications for individual buildings in 2017."
Ralph Jones, Managing Director of Peveril Securities, added: "The receipt of planning consent is excellent news, and now allows us to progress through the development process and continue our Group's involvement with Sheffield on this exciting scheme."
(LM/MH)
