Manchester based developer, Panacea Property Development, has secured planning approval from Sheffield City Council for further phases of its 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 1 is being developed in joint venture with Worthington Properties and is already on site with completion due for September 2016.
Phase II 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.
Speaking about the renewed planning approvals Managing Director, Neil Patten 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.