The purchase of 517 Manchester Road by Sheffield City Council on behalf of the Stocksbridge Towns Fund Board has today been completed.
Following approval at Finance and Performance Policy Committee, the acquisition of the building will continue the rejuvenation of Stocksbridge’s high street.
As part of the wider Town Centre regeneration, the former factory shop building will be refurbished and brought back into commercial use to create lettable commercial space complete with attractive new shopfronts.
Once complete, the units will complement the adjacent Hub 519 building, which is currently under construction, the shopfronts project and the wider placemaking scheme to revitalize Manchester Road.
Ian Sanderson, Towns Fund Board member with responsibility for the Hub 519 project, said:
“I am delighted that the purchase of the derelict former Factor Shop has been completed as this adds another key element to the masterplan, ensuring the major new Hub 519 project and the wider regeneration of our town centre are seamlessly connected, while also delivering much needed parking for visitors.
“Alongside the shop fronts and place making projects along Manchester Road, I’m very pleased that we have been able to bring the revival of such an important part of our town another step closer. It also offers a larger size of unit on the High Street ensuring a good mix of users and businesses for residents and visitors”
The purchase of the building will allow progress to be made on the scheme overseen by the Stocksbridge Towns Fund Board. A new legacy organisation that will be aligned with the Towns Fund Board will take on the management of the building. The set up of this organisation with the relevant authority, including a finalised governance structure, is currently in progress.