Sheffield Victoria Station Development Prospectus January 2014

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1 6 Billion extra GVA growth for Sheffield City Region s economy Sheffield Victoria Station Development Prospectus January 2014

2 Document produced by Sheffield City Council

3 Introduction The construction of a high-speed rail network offers a once in a generation opportunity to transform both the national and local economies. The location and development of stations will act as a catalyst for regeneration of the surrounding areas. A new Station at Sheffield Victoria will unlock the biggest regeneration programme in Sheffield City Region for many decades. Sheffield is England s fourth largest city with a population of over 550,000. The City has an international reputation for high quality manufacturing and is home to two world class universities. It is located in the centre of the UK with good existing road and rail connectivity. Sheffield s economy has significantly transformed over the last two decades. The changes in the City Centre have played a substantial part in the transformation becoming the main focus of key growth sectors of knowledge, higher education, business service and creative-digital sectors offering an attractive place to work, play and live. But Sheffield still has fewer businesses in these high value, higher skilled sectors than other major UK cities. There is an overwhelming case to locate the Sheffield City Region station at Victoria in the City Centre because it maximises the economic impact and regeneration benefits. It also provides a significant opportunity to capture the financial benefits from redevelopment in the vicinity to offset part of the construction costs. Aerial View 1925 City Region Connectivity is excellent Location Regeneration Influence of the Victoria Station Development The proposed Station at Victoria would be in the City Centre within the Riverside Business District. It would be built in the location, and partly on the structure of Sheffield s first railway station. The Riverside Business District lies in the northern part of Sheffield City Centre, a short walk away from the Heart of the City, and comprises of land on the banks of the River Don. This area has always been an important gateway to the city - as early as 1350, Sheffield Castle stood opposite at the confluence of the Don and the Sheaf. The first of Sheffield s bridges was originally constructed here in the late part of the 15th Century. Victoria Station 1967 Sheffield s City Region is one of the UK s major city region economies. Accessibility to and from sheffield and the wider City Region is integral to building and maintaining a strong, international successful economy.

4 Regeneration Potential The Riverside area forms part of an increasingly important axis of development for the city, with an established Riverside Business District although it has yet to fully realise the benefit of its relationship with the river or the expansion northwards of the City Centre. Regeneration in this area will be reinvigorated in the shorter term by the opportunity that will arise from the recent relocation of the indoor markets from Castlegate which will allow the site of the medieval castle to be exposed and presented as a centrepiece of new mixed use development. This regeneration will extend further north to take advantage of the huge opportunities presented by a new Station at Victoria. The opportunities presented by the construction of the Station at Victoria are game changing: The Victoria location offers major opportunities for urban regeneration on a par with, if not greater, than the most regeneration-friendly of other stations - London & Continental Railways (Department for Transport delivery body for HS1) Development Review Sheffield Victoria Station 27 January Indicative Masterplan 6 Billion net additional economic value for Sheffield City Region s economy There is scope for over 550,000 sq metres of commercial floor space and over 1500 new homes within 1 Km 20 hectares of potential development sites within 500 metres 9,500 additional jobs created over 25 years 1 hour reduction in journey from Sheffield City Region to London We see Victoria as the St Pancras of the North and a destination in its own right, building on the superb Victorian railway architecture. The station has huge potential for retail, leisure and financial and professional services opportunities within the impressive arches and adjoining canal side environment. A City Centre based station in Victoria would fully align with ongoing regeneration in Sheffield City Centre helping create an economically successful Core City and City Region. Riverside Business District, Nursery Street - Existing Offices West Bar - proposed mixed use developnment

5 Victoria Station in the cityscape, as seen from Heart of the City (City Lofts) Given: a) the central urban location of Sheffield Victoria, b) the availability of derelict/under-utilised land, c) the underlying strong economic drivers and associated recent regeneration successes in the city, and d) the potential to build upon the successes of Sheffield City Council and previous regeneration bodies, Sheffield Victoria would be likely to represent one of the higher priority locations for any activity by a Regeneration body. - London & Continental Railways (Department for Transport delivery body for HS1) Development Review Sheffield Victoria Station 27 January 2014 The station would play a key role in area regeneration, underpinning the ongoing transformation of Sheffield City Centre and provide long term investment confidence. IQuarter - existing regeneration close to Sheffield Victoria

6 Street level view of Wicker entrance to Sheffield Victoria Station with new public plaza and new tower Indicative Masterplan - subject to further detailed design and siting

7 Development Opportunities Sheffield City Council owns a significant amount of property in the immediate vicinity of Victoria which provides opportunities to assemble sites and drive development at an early stage. This also gives scope for special purpose vehicles to be established with the potential to generate finance, which can be captured to assist in reducing the costs of building the route through the City Centre. The area in the immediate vicinity of the proposed station has already been the focus of successful mixed use regeneration, such as Victoria Quays and the Riverside Business District but there are several major opportunities for substantial new development. A West Bar Mixed use scheme of offices, residential and open space. B Wicker Riverside Vibrant new mixed use, residential and business neighbourhood fronting the River Don and the new Nursery Street park. It faces the new Riverside Business District office quarter with an emphasis on legal and professional services. C Victoria Quays Refurbished and redeveloped canal basin comprising marina, offices, shops, pub and with scope for further regeneration. D and E Riverside East Canal Side and Albion Riverside construction worksites and parking followed by comprehensive higher value development. F Castlegate Major Gateway zone between the heart of the City Centre and Victoria Station area. Proposed new Castle Hill public park on the site of the original Sheffield Castle integrated with new office development, city centre living, retail, leisure and hotel potential to create a vibrant new urban quarter.

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