£19m Sheffield residential development launched to market

A £19m, nine-storey residential development in Sheffield has been launched to market.

The new-build scheme, named Great Central, comprises 131 units, ranging from studios to three-bedroom apartments and will be located on Chatham Street north of the city centre.

Property consultancy Knight Knox put Great Central on sale follows its unanimous approval by Sheffield City Council’s planning committee earlier this month.

Great Central, which has been designed by architect Coda Studios, is expected to complete in early 2020.

The £19m project, which includes parking for selected units and secure bicycle storage, will be situated just minutes from Kelham Island, one of Sheffield’s urban villages offering a range of restaurants and bars.

Great Central is Knight Knox’s 83rd development launched in the UK and joins a portfolio of completed projects in Sheffield, including Bells Court, Bento and Alexandra House, as well as Palatine Gardens, which is currently under construction.

Andy Phillips, commercial director at Knight Knox, said: “Sheffield is one of the fastest growing cities in the UK, but there’s a severe shortage of high quality rental accommodation.

“Professionals are flocking to the city to take advantage of its robust economy and employment opportunities, but are finding it tricky to source appropriate modern housing. It’s a gap we hope to fill with the launch of Great Central and our other Sheffield schemes.

“With the city’s promising outlook, rents and house prices are expected to skyrocket over the next five years, which presents the perfect opportunity for investors to get ahead of the game and take advantage of the high yields on offer.

“Great Central is set to be an extremely popular addition to the growing Sheffield residential market and we look forward to seeing the project progress.”

Qualis Developments, a North West business from the team behind Knight Knox, will act as the developer for the development.

Lettings and management will be undertaken by Intus Lettings.