Commercial Property News
Planners have been given the green light to build a Chinese-backed £100m high-rise, mixed-use scheme in Sheffield city centre.
Local firm New Era Development has confirmed that it will start work on the 21-storey complex in July this year.
The project will lead to the development of new leisure commercial facilities, as well as student halls.
It will be situated near St Mary's church and will overlook the inner city ring road at Bramall Lane.
Some 695 student rooms will be built in the main tower and lower rise buildings, alongside 70,000 square feet of retail and business incubator office spaces on the lower floors.
Those buildings will be centred around a brand new pedestrianised plaza, while the first phase of the project will see the construction of the city's tallest tower in a decade and could be finished in time for the start of the university year in 2016.
The project is already expected to generate a large amount of interest from China and will be built on the city's largest Chinese supermarket as well as the nearby car parl.
Developers behind the project hope the move will attract other Chinese traders to the area with a view of creating the city's own Chinatown.
Jerry Cheung, managing director of New Era Development (UK) Ltd, said: “We are absolutely delighted that New Era Square has been granted planning approval. This is the culmination of many years of hard work so it is the best possible news we could have hoped for.
“As well as providing leisure and residential facilities, the China Business Incubator within the development will become a hub for promoting international trade, focusing on opportunities for businesses to increase their presence in China and to bring more inward business from the Far East.
“We are very much looking forward to seeing our vision of this exciting project come to life once work begins."
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