Next phase set for Well Meadow regeneration scheme in Sheffield

Sheffield City Council has given planning approval for the next phase of Manchester-based Panacea Property Development’s Well Meadow regeneration development just off Netherthorpe Road in Sheffield.

The overall mixed-use development, consisting of 400 student and 250 PRS (private rental sector) units, is being delivered over four phases.

Phase one is being developed in joint venture with Worthington Properties and is already on site with completion due for September 2016.

Phase two of the development is being funded by Panacea internal resources. The development site is located between Radford Street and Well Meadow Drive in close proximity to University of Sheffield and the City’s main hospitals.

Neil Patten, managing director of Panacea Property Development, said: “Panacea Property Development has been working closely with the Council for some time to ensure a positive outcome for the planning approach for the regeneration of this important site in the heart of Sheffield. As well as housing the growing student population, it will also give a boost to the local economy in bringing diversity of tenant mix with the inclusion of PRS units.

“Panacea remains focussed on delivering real PRS accommodation in key strategic locations throughout the UK.”

Hodder & Partners is the architect for the development and Deloitte is the planning consultant.

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