Urbo Regeneration, the sister company of Chesterfield-based Bolsterstone Group Plc, has been shortlisted for Property Deal of The Year in the prestigious South Yorkshire Property Awards. Bolsterstone is also leading the £340million Chesterfield Waterside Scheme.
The shortlisting recognises the £150 million deal which was secured with Legal and General to bring forward the construction of the first phase of the £300 million West Bar scheme.
Earlier this year, Urbo’s West Bar deal was also named as a finalist for the Deal of the Year – Commercial Property category in the 27th annual Property Awards.
Phase one of West Bar is the largest ever private investment deal in Sheffield city centre. Once complete, it will regenerate a key site and create a home for thousands of high-quality jobs.
Peter Swallow, Managing Director of Bolsterstone described West Bar as “a rare and excellent example of best practice approach to area-wide urban regeneration.”
In addition to Urbo, the following deals have also been nominated for the prestigious award:
- Speculative funding of Eclipse logistics facility, Doncaster (Rula Developments, NorthCap, Colliers, CPP)
- 64,000 sq ft pre-let to BT Group at Endeavour, Sheffield Digital Campus (Scarborough Group International, CPP, Colloco, Knight Frank)
- Letting of the 601,000 sq ft Mammoth 602 building, G-Park Doncaster to Maersk (GLP, Knight Frank, JLL, CBRE)
- Letting of 34,000 sq ft to Spaces at Pennine Five, Sheffield (RBH Properties, Colloco, Knight Frank)
Peter added: “We are thrilled to be shortlisted for this award. We completed the deal amidst difficult economic headwinds; however, the biggest complexity has been the many years of site assembly work, negotiating with landowners and tenants of 103 separate property titles within the development boundary. We worked hard to secure alternative and improved premises for these occupiers ensuring that no jobs were lost through the process. This was backed by a full compulsory purchase process including a full CPO Public Inquiry and ultimately secured 100% freehold ownership with vacant possession, paving the way for our deal with Legal & General.”
The award winner will be announced at the South Yorkshire Property Dinner on 6 July at Sheffield City Hall.
The shortlisting falls hot on the heels of The Yorkshires which were held in May.
At The Yorkshires leading professionals in the property sector singled out the West Bar for a special commendation highlighting it as possessing exceptional skill in conception, design, and execution and noting the development as a key ‘disruptor’ in commercial real estate over the last twelve months.
Bolsterstone is no stranger to awards. Its £360 million Chesterfield Waterside development has won regeneration awards and also been named as one of the largest regeneration schemes in the UK.
Like Chesterfield Waterside, West Bar is also a public / private partnership which comprises Urbo Regeneration, Peveril Securities and Sheffield City Council.
Chesterfield Waterside represents a joint venture between Bolsterstone and Chesterfield Borough Council. Most recently funding from Chesterfield Borough Council brought forward the recently opened six storey office development, One Waterside Place, within the Basin Square neighbourhood area of Chesterfield Waterside.
Already, two floors of the large floor plate office space are occupied, and Bolsterstone is in talks with a number of future occupiers and investors in the wider Chesterfield Waterside scheme.
Knight Frank and Derby-based FHP Property Consultants are letting agents for the office space at Chesterfield Waterside. For information, or to view the remaining space, contact Peter Whiteley at Knight Frank on 0114 272 9750 or Darran Severn at FHP Property Consultants 01332 343 222.