Content

11.1

The Executive Director City Futures submitted a
report updating Members on the current position with regard to the proposed agreement for lease of
the former Cole Brothers store in Barkers Pool and seeking approval
to enter into an agreement with Urban
Splash.

 

 

11.2

RESOLVED UNANIMOUSLY: That Strategy and
Resources Policy Committee:-
 
(a) notes the current position and progress on the proposed
agreement for the lease of the former Cole Brothers store in
Barkers Pool since the last report to Committee;
and
 
(b) agrees that the Council should now progress to finalising
the Agreement for Lease as set out in Part 2 of the report now
submitted.

 

 

11.3

Reasons for Decision

 

 

11.3.1

The proposed
Agreement to Urban Splash will result in the delivery of an
exciting mixed-use scheme comprising flexible workspace and
cafes/retail/leisure/cultural uses/event space which are all
considered to be complementary uses to the rest of the Heart of the
City project. The development will create space for new jobs,
places to shop, eat and visit and will help to increase the
vibrancy and attractiveness of the city centre for residents and
visitors.

 

 

11.3.2

Urban Splash has a strong track record of working with many
public sector parties. The proposed project team have redeveloped
many challenging and listed buildings, including both historic and
post-war structures and have expertise in engaging communities in
redevelopment and delivering programmes of meanwhile
use.

 

 

11.3.3

Bringing this vacant listed building back into active use will
be hugely beneficial both for the wider city centre and the
surrounding Heart of the City Scheme. Retaining the large majority of the structure, whilst
improving the thermal performance and energy efficiency of the
building, should have a positive impact on climate
change.

 

 

11.4

Alternatives Considered and
Rejected

 

 

11.4.1

As stated in the previous reports to this Committee in August 22
and in March and June 23, the Council could decide not to progress
with a disposal of the building at the present time. However, to do
so would lead to further delays and uncertainty around what is an
important building for the regeneration of the city centre and
possibly reputational damage to the city’s image from many
people both within and outside of
Sheffield.

 

 

11.4.2

Retaining the building without securing its redevelopment will
have financial implications for the Council both in vacant property
management, security and holding costs and in potential blight
suppressing values and interest in the surrounding property and the
Heart of the City scheme