Category : Commercial General property news
A plan to renovate a former industrial area in Sheffield next to the Meadowhall Shopping Centre has been revealed.
British Land, which owns Meadowhall, has released details of a £300 million mixed commercial and residential property scheme for the site, Property Week reports.
These include the creation of 27,000 sq ft of shops, 1.2 million sq ft of offices, a 100,000 sq ft hotel and 1,300 homes.
Sheffield city council has already given provisional backing to the scheme, having seen the initial plans in September last year.
One issue may be that 15 per cent of the new homes are intended to be affordable, whereas the council's minimum stipulation for any development is 20 per cent.
A commercial property finance transaction on a smaller scale has just taken place in Manchester.
Threadneedle Investments has sold a block containing a co-op store and a restaurant on Wilmslow Road in the Didsbury district of the city to a private investor, the Manchester Evening News reports.
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