Penistone Road

Regeneration of a 7-acre brownfield site to create employment and economic dynamism

  • Theme

    Underserved Markets

  • Date of Initial Investment

    20150101

  • Bridges Executives

    Tom Tyler

  • Management Team

Challenge: Employment opportunities are not evenly distributed across the UK, and the poorest communities are often more disadvantaged in terms of access to affordable accommodation, office space, services and economic opportunities. These challenges – underutilised property, unmet demand and underutilised local talent – also present opportunities for growth. In many of these ‘regeneration areas’ there is also the opportunity to build to higher sustainability standards, benefitting the environment and the well-being of those working in the property.

Investable solution: Bridges has acquired a cleared 7-acre brownfield site on Penistone Road, Sheffield, which has been disused for 20 years. The site is located in the top 18% most deprived local authorities in the UK and the proposed plans will bring the land back into economic use and generate significant local employment opportunities. The site requires some environmental remediation, which Bridges is undertaking as part of the redevelopment.

Outcomes: The proposed redevelopment will likely create at least 200 jobs, based on current site plans consisting largely of shops and restaurants.

 

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