News: Capital&Centric's initial proposals for Rotherham town centre regeneration
Rotherham Council has published further details of a multimillion pound regeneration scheme that involves social impact developer Capital&Centric, leading on construction projects across a number of council-owned sites.
Rothbiz revealed earlier this month that the Manchester company, a specialist in unlocking and transforming "unloved" brownfield sites into vibrant, design-led neighbourhoods, had been awarded a contract that could reach up to £100m in value.
The sites include:
- the cleared site of the burnt-out buildings on Corporation Street
- Snail Yard - the cleared site of the former Primark store on High Street, currently a small pocket park
- The Statutes - the cleared site of the former Magistrates Court, currently used as a car park
- two sites along Sheffield Road in the area designated as Riverside Residential
A cabinet paper explains that the design concepts for The Statutes and the sites on Sheffield Road are for residential schemes that are estimated to deliver 225 new homes including both apartments and houses.
The paper adds: "At this stage of the feasibility work, the option proposed by Capital and Centric on which the current funding strategy is based is for the new homes to be developed for private rent with Capital & Centric acting as landlord.
"Capital & Centric are exploring a proposal to fund the development of these sites through their Impact & Places Partnership, which is a joint venture between Swiss Life Asset Managers, Homes England and Capital & Centric. It should be noted that while some viability modelling has taken place and that this indicates the development can be fully funded through this partnership, there remains a risk that the schemes will require additional capital funding outside of the partnership."
The Corporation Street and Snail Yard sites are considered best suited to a development of mixed uses. For Snail Yard, the concept proposes office, retail and four residential units around a courtyard space. Concepts for 3-7 Corporation Street consists of ground floor commercial space with ten duplex residential properties above.
A previous £6m council scheme with 19 1-bed and 2-bed flats and three commercial units on Corporation Street received no interest from the market when it went out to tender.
The latest cabinet report states that these schemes are not considered viable without some form of public sector funding and the council is set to work with Capital&Centric to find gap funding.
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With the first phase underway, the second phase involves the creation of full business cases for each site and stage three is the actual development.
Following cabinet approval, Rotherham Council is proposing to meet the pre-development costs at stage 2 of £2.42m from its remaining Local Regeneration Grant secured from the government. The outcome of Stage 2 feasibility work will be reported to Cabinet in Summer 2027.
Risks have been identified relating to viability, finding gap funding and disposing of the land at nil value. The cabinet report states: "In considering these risks it is important to understand the rewards that are possible to be gained for Rotherham Town Centre should the development of these 5 Strategic Sites be supported. In contrast, doing nothing would leave 5 prominent Town Centre sites undeveloped and unable to achieve their full potential to transform the town centre offer and potentially undermine the ability of other key regeneration projects to generate the greatest impact. Cabinet will have the opportunity to decide whether to proceed or not after the completion of the Stage 2 development work."
Other options, such as putting the land up for sale on the open market, or proceeding to development led by the authority are not recommended.
The report concludes: "In developing the procurement strategy for the 5 Strategic Sites the Council determined that the procurement of a Developer Partner, as opposed to in house or consultancy developed proposals, was the most effective route to ensuring buildability from the outset given the complexity of the sites. The phased approach gives the Council greater control over the evolution of the schemes.
"It enables the Council to ensure proposals are fully tested, costed, and aligned with the agreed vision for Rotherham. Advancing to Stage 2 at this time maintains the original plan and keeps momentum, maintains Council influence over the sites, and ensures decisions are based on detailed evidence rather than assumptions, giving the town centre the best chance of achieving high-quality, coordinated development in line with the Council’s Placed Based Investment Strategy, Town Centre Masterplan and Town Investment plan."
Capital&Centric website
Images: Google Maps
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Rothbiz revealed earlier this month that the Manchester company, a specialist in unlocking and transforming "unloved" brownfield sites into vibrant, design-led neighbourhoods, had been awarded a contract that could reach up to £100m in value.
The sites include:
- the cleared site of the burnt-out buildings on Corporation Street
- Snail Yard - the cleared site of the former Primark store on High Street, currently a small pocket park
- The Statutes - the cleared site of the former Magistrates Court, currently used as a car park
- two sites along Sheffield Road in the area designated as Riverside Residential
A cabinet paper explains that the design concepts for The Statutes and the sites on Sheffield Road are for residential schemes that are estimated to deliver 225 new homes including both apartments and houses.
The paper adds: "At this stage of the feasibility work, the option proposed by Capital and Centric on which the current funding strategy is based is for the new homes to be developed for private rent with Capital & Centric acting as landlord.
"Capital & Centric are exploring a proposal to fund the development of these sites through their Impact & Places Partnership, which is a joint venture between Swiss Life Asset Managers, Homes England and Capital & Centric. It should be noted that while some viability modelling has taken place and that this indicates the development can be fully funded through this partnership, there remains a risk that the schemes will require additional capital funding outside of the partnership."
The Corporation Street and Snail Yard sites are considered best suited to a development of mixed uses. For Snail Yard, the concept proposes office, retail and four residential units around a courtyard space. Concepts for 3-7 Corporation Street consists of ground floor commercial space with ten duplex residential properties above.
A previous £6m council scheme with 19 1-bed and 2-bed flats and three commercial units on Corporation Street received no interest from the market when it went out to tender.
The latest cabinet report states that these schemes are not considered viable without some form of public sector funding and the council is set to work with Capital&Centric to find gap funding.
Advertisement
With the first phase underway, the second phase involves the creation of full business cases for each site and stage three is the actual development.
Following cabinet approval, Rotherham Council is proposing to meet the pre-development costs at stage 2 of £2.42m from its remaining Local Regeneration Grant secured from the government. The outcome of Stage 2 feasibility work will be reported to Cabinet in Summer 2027.
Risks have been identified relating to viability, finding gap funding and disposing of the land at nil value. The cabinet report states: "In considering these risks it is important to understand the rewards that are possible to be gained for Rotherham Town Centre should the development of these 5 Strategic Sites be supported. In contrast, doing nothing would leave 5 prominent Town Centre sites undeveloped and unable to achieve their full potential to transform the town centre offer and potentially undermine the ability of other key regeneration projects to generate the greatest impact. Cabinet will have the opportunity to decide whether to proceed or not after the completion of the Stage 2 development work."
Other options, such as putting the land up for sale on the open market, or proceeding to development led by the authority are not recommended.
The report concludes: "In developing the procurement strategy for the 5 Strategic Sites the Council determined that the procurement of a Developer Partner, as opposed to in house or consultancy developed proposals, was the most effective route to ensuring buildability from the outset given the complexity of the sites. The phased approach gives the Council greater control over the evolution of the schemes.
"It enables the Council to ensure proposals are fully tested, costed, and aligned with the agreed vision for Rotherham. Advancing to Stage 2 at this time maintains the original plan and keeps momentum, maintains Council influence over the sites, and ensures decisions are based on detailed evidence rather than assumptions, giving the town centre the best chance of achieving high-quality, coordinated development in line with the Council’s Placed Based Investment Strategy, Town Centre Masterplan and Town Investment plan."
Capital&Centric website
Images: Google Maps












