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Plans for a £500 million retail quarter in Sheffield announced

A Sheffield-based group chaired by a former chief executive of Vickers Defence Systems has outlined plans for a £500m retail quarter in the city centre.

The proposal comes from the Sheffield Retail Development Group (SRDG). It follows Sheffield City Council’s announcement that it is seeking to engage with a strategic development partner to work on a new retail quarter in the heart of the city.

Last year, original developer Hammerson pulled out of the project, following a mutual agreement with Sheffield City Council.

The SRDG proposed 650,000 sq ft mixed-use development will have an anchor store and shops as well as offices, restaurants and bars.

John Crowther, a former chief executive of Vickers Defence Systems, is chairing the SRDG bid. He said the group had been involved in informal discussions with Sheffield City for more than a year.

“We have significant financial backing and the passion of a local team with the city at its heart to transform the city centre with a 650,000 sq ft development on a five-acre site by the end of 2018 - a year ahead of the city council’s proposed timescale,” said Mr Crowther.

“We have a world-class professional team supporting our Sheffield team who care about Sheffield and can deliver a scheme that will transform the city centre.”

He added: “We have identified half-a-billion pounds of funding. We want Sheffield people to know there’s a local bid that’s ready to go.“​

The news is a further boost to Sheffield’s economy, following the start of construction work at 3 St Paul’s Place, the first speculative office development in the city since the recession.

This was posted in Bdaily's Members' News section by Robert Beaumont .