Another major scheme, a £600 million retail led development in Sheffield city centre by Hammerson, has moved forward with funding for compulsory purchase of the site. £10 million has been provided by Sheffield City Council towards the cost of buying the 20 acres while Hammerson will pay £15 million and the interest on the council loan.
Such is the enthusiasm for the project that the Home and Communities Agency has paid £30 million towards the enabling works and allowed Hammerson to defer paying that money until the shops are open. The original design for the Sevenstone development envisaged a 79,894 sq.metres (860,000 sq.ft.) scheme with more than 36% of the space devoted to a John Lewis department store. On top of this, Hammerson has submitted a planning application for the Eastgate Quarter’s retail scheme in Leeds. There are other major plans for developments in Sheffield with British Land and London & Stamford planning to extend the Meadowhall Shopping Centre.
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