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Obviously times are difficult right now as the economy and financiers find their feet, but does anyone have any experience of Sheffield construction projects that are suffering at the moment?
Sheffield's micro economy - what projects are on ice or a go slow?
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Well there are certainly things not happening that I thought would be happening by now, but I'm not in construction and don't know that that means that they're in trouble:-
However, its normal for some schemes to go quiet then quietly die, or spring unexpectedly back to life- eg Parkway Edge. As I am a (relatively, compared to you lot) old bastard I've seen 'em come and go over the years - how many Carrillion schemes have bit the dust at Castlegate?
I would have thought that large scale purely residential schemes, and large investment schemes generally, are more vulnerable. How the hell in this climate would they sell/let three blocks of new Chesham House; who's going to fund the capital needed for the West Bar masterplan or the NRQ? Big developers are not safe- British Land and Hammerson are taking big hits due to falling values.
Sadly we've been here before. In the late 80's the huge Clayform retail scheme for Haymarket was killed off by slumping fortunes (caused by high interest rates then). I hope that the NRQ survives all this, but I said somewhere on SSC several months ago that it was taking so long that it would be vulnerable to changing economic conditions affecting retail.
But lets not forget that the UK economy is still growing, and so is Sheffields. Its not a "recession". Yet!
- Weston Tower- outline approval ages ago, no sign of anything
- The Courts; site cleared early this year, now abandoned
- Sheaf Square, the Aedas hotel and office scheme- just decorated boards
- Pearl Works off Howard Street - office block to replace the fallen down shack. Its still a fallen down shack.
However, its normal for some schemes to go quiet then quietly die, or spring unexpectedly back to life- eg Parkway Edge. As I am a (relatively, compared to you lot) old bastard I've seen 'em come and go over the years - how many Carrillion schemes have bit the dust at Castlegate?
I would have thought that large scale purely residential schemes, and large investment schemes generally, are more vulnerable. How the hell in this climate would they sell/let three blocks of new Chesham House; who's going to fund the capital needed for the West Bar masterplan or the NRQ? Big developers are not safe- British Land and Hammerson are taking big hits due to falling values.
Sadly we've been here before. In the late 80's the huge Clayform retail scheme for Haymarket was killed off by slumping fortunes (caused by high interest rates then). I hope that the NRQ survives all this, but I said somewhere on SSC several months ago that it was taking so long that it would be vulnerable to changing economic conditions affecting retail.
But lets not forget that the UK economy is still growing, and so is Sheffields. Its not a "recession". Yet!
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With the four that you've bullet pointed Alfie,
Weston Tower - I don't think this was ever a serious proposal. More testing the water. Even if it was a serious proposal it's been quiet for years and not as a victim of the current climate
The Courts - I think they've only just gained planning permission for the new design so give it a chance
Sheaf Square - only currently has outline permission. Work isn't due to start till late in the year anyway
I don't know what pearl works is :dunno:
Weston Tower - I don't think this was ever a serious proposal. More testing the water. Even if it was a serious proposal it's been quiet for years and not as a victim of the current climate
The Courts - I think they've only just gained planning permission for the new design so give it a chance
Sheaf Square - only currently has outline permission. Work isn't due to start till late in the year anyway
I don't know what pearl works is :dunno:
The Sheaf Square hotel and office scheme is still being marketed as far as i am aware, I have a glossy brochure from CTP St James/Knight Frank that gives specifications for all the floors, including the fittings in the toilets!.
The hotel proposed in the brochure is a 4* Golden Tulip.
The hotel proposed in the brochure is a 4* Golden Tulip.
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The Courts has not been abandoned, just delayed while some complex legal and planning issues have been resolved.
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Oh i always thought it was going to be a Raddison.
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I thought the hotel at city gate was going to be Golden Tulip?
sorry, I didn't mean that the project had been abandoned, I actually was referring to the site, which has seen no sign of life for several weeks since demolition.
I thought that it had full permission; I hope these "complex legal and planing issues" can be dealt with! The whole area around there has an abandoned, almost ghost town quality to it, especially since the IRR was moved; I work nearby and it would be great to see some life injected back into it.
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Was wondering about that larven, and had nearly put you on the MIA forumers list as not heard from you for a bit.
Welcome back
Northfield are on site this week doing some site prep/ground works, so looks like it may be starting up, although maye a little slow until the legal issues are sorted.
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