Sheffield: Heart of the City 2022

The Heart of the City regeneration project will transform Sheffield by: 

• Setting the Standard –The regeneration scheme will focus on the environmental and socially responsible master planning for economic contribution.
• A catalyst for development –The £470m worth of development in the Heart of the City project will attract more investments and businesses to the area, strengthening the economy. The scheme will welcome the perfect blend of old and new, by introducing contemporary buildings and celebrating the heritage of Sheffield with its iconic architecture.
• Up to 7,000 new jobs –It is expected that the regeneration scheme will generate 7000 jobs, directly and indirectly. Furthermore, this will attract more working professionals to the area, boosting rental demand.

Sheffield’s regeneration will capitalise on the government’s £37 million Levelling Up Fund. Alongside the upcoming Integrated Rail Plan upgrades which will cut journey times between Sheffield and London to just 87 minutes. Therefore, providing enhanced connectivity for workers across the UK, with regular and efficient services. Furthermore, the upgraded network will benefit residents looking for a leisurely commute, all whilst boosting desirability for property investors.

Another noteworthy phase within the Heart of the City scheme is the construction of Pound’s Park.

Pound’s Park is a new public space landmark in Sheffield City Centre, which started construction in late March 2022. The city park will provide an expansive, accessible green space for walking, cycling, outdoor events and more. The concept of city centres continues to change rapidly.

Public spaces and green landscaping play a pivotal role in enhancing wellbeing and sustainability. Forecasts are suggesting that cities will continue to grow in population, especially among baby boomers and millennials. Upgraded city parks and large-scale regeneration schemes will attract residents and investors to the area. City parks can eliminate the threat of tenants wanting to rent houses with gardens outside of cities. Instead, it eases the hesitation of those living in apartments as they have outdoor space nearby. This can increase the term length of tenants, therefore minimising the risk of a vacant property for landlords.