Friday, January 25, 2019

News: Funding sought for £50m Rotherham retail scheme

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Developers behind a £50m retail, office and leisure scheme at Waverley in Rotherham are being invited to bid for funding to kickstart work on site.

Rothbiz reported in 2017 that plans were approved for "Waverley Square" - "the piece of the jigsaw" creating a local centre for residents and businesses. It includes some 100,000 sq ft of retail space including a 20,774 sq ft foodstore; high spec office space covering 38,285 sq ft; restaurants, coffee shops and a gym; a medical and community facility covering 11,464 sq ft; and a small bus station.

Joint developers are Harworth Group plc and Dransfield Properties Ltd.

Papers to the Sheffield City Region (SCR) Local Enterprise Partnership (LEP) show that a number of schemes have been invited to submit detailed business cases in a bid to secure funding from the SCR's Local Growth Fund (LGF) programme.

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The LGF capital programme is funded through three rounds of capital funding secured from the Government totalling £360m.

The money is being invested in a wide range of projects including transport, skills, business support, broadband, innovation and flood defences but it has been affected by some accepted projects not progressing or not spending quick enough. An open call exists for projects which can be added to the programme.

A report explains that the Waverley District Local Centre is being described as the "heart of the Global Innovation Corridor" and is seeking a grant of £7m to create over 150,000 sq ft of commercial, retail and leisure space. The total project cost is £42m with the balance of funding coming from private sector investment.

The development of a business plan will help the project secure the required funding.

The planning application stated that the development could create 700 full-time equivalent jobs and generate business rates in the region of approximately £1.5m once fully occupied.

Harworth Group plc website
Dransfield website

Images: Harworth / Dransfield

3 comments:

John Hensby January 25, 2019 at 12:06 PM  

We shall await Sheffield's formal objection with interest. Then again, if the waverley project is successful it will of course be classed as Sheffield.

Unknown January 25, 2019 at 12:50 PM  

Correct John all the way.

Anonymous,  January 25, 2019 at 1:15 PM  

It already is classed as "Shitfield"!

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