Contents 04
UK MACRO OVERVIEW
06
UK ECONOMY
07
UK ECONOMIC STRUCTURES
08
UK INCOME GROWTH
09
UK HOUSING MARKET
10
SHEFFIELD HISTORY | SPORT
11
ART AND CULTURE | DEMOGRAPHICS
12
SHEFFIELD'S ECONOMY
13
EMPLOYMENT AND INCOMES
14 PRODUCTIVITY 16
SHEFFIELD CITY REGION (SCR) INVESTMENTS
18
SHEFFIELD CITY REGION'S REGENERATION
20 EDUCATION 21 SUSTAINABILITY 22
TRANSPORTATION INFRASTRUCTURE
24
THE DEVELOPMENT
28
AREA MAP
30
COMPARABLE MAP
37 SPECIFICATIONS
2
3
UK Macro Overview
UK MACRO OVERVIEW
The United Kingdom is one of the world's major economic powers with the sixth-largest global economy. It remains a great political and cultural influence with its capital city, London, operating as one of the world’s most important financial hubs.
United Kingdom Area: 242,900 km2 Population: apx. 66.8 million Language: English
GLASGOW EDINBURGH
Currency: Pound Sterling Capital: London
MANCHESTER LEEDS SHEFFIELD
LIVERPOOL BIRMINGHAM
LONDON
4
5
UK Economy
UK Economic Structures
Now experiencing a strong rebound back to prepandemic levels, the UK's economy is predicted to expand by a rate of 84% up to 2035. This is the fastest growth rate expected for any major European economy.
The UK’s largest economic sector in terms of numbers employed is Wholesale & Retail Trade, totalling 4.9 million jobs as of 2020. While this sector will remain a top employer in the future, the Human Health sector is expected to grow by 17.4% and become the largest employment sector in the country with 5.1 million jobs as of 2035.
As a result, the UK will remain the second-largest economy in Europe, totalling EUR4.36 trillion as of 2035. This is primarily due to favourable demographics, as the UK’s strong population growth is expected to include a working age population of just under 43 million people over the next 15 years and beyond. GDP Growth 2000-2035 6 59%
5
GDP (EUR Trillions)
UK ECONOMY
4
UK Economic Sectors by % of Workforce Employed (2020) Wholesale & Retail Trade
1% 3% 2% 4% 3% 4% 4%
Human Health & Social Work
14%
Professional, Scientific & Technical Activities Education Administrative & Support Activities Manufacturing
13%
6%
67% 58%
32%
Public Administration & Defence
9%
48%
54%
2
7%
66% 33% 63%
73%
1
76%
7%
85% 239%
58%
Construction Transportation & Storage
7%
3
Accommodation & Food Services
UK ECONOMIC STRUCTURES
84%
In terms of productivity, the Professional, Scientific & Technical Activities sector experienced the most significant growth with a 110.4% increase in GVA since 2000. As of 2020, this sector's GVA was GBP140.3 billion, with 3.1 million employees. By 2035, this industry is estimated to have grown by 225.7% since 2000, to a GVA of GBP217.3 billion.
Other Services (inclu. agriculture, forestry, fishing, mining & quarrying)
8%
8%
54%
Information & Communication
Financial & Insurance Activities Arts, Entertainment & Recreation Real Estate Activities
0 Germany
United Kingdom
France
Italy
Spain
2000
2020
Netherlands
Ireland
Portugal
2035
The 20 largest cities in the UK after London have experienced transformative levels of economic growth with average GDP growth of 102% between 2000 and 2020. Over the next 15 years the 20 largest UK economies (excluding London) are expected to expand by an average of 80%.
The UK has maintained one of the lowest and most consistent unemployment rates of all major European economies over the last decade. While unemployment is forecast to rise to a peak of 5.85% in 2021 as a result of the pandemic, the UK’s newly adopted furlough scheme (Coronavirus Job Retention Scheme) is proving a highly effective government tool. The plan which aims to protect the relationship between employers and employees, is successfully laying the foundations for a swift and robust economic recovery. European Unemployment Rate Trend 2010 - 2030 -
20 Largest UK Cities by GDP (excluding London) 2000-2035 70 -
2000
2020
2035
30%
60 25%
GDP (EUR Billions)
50 81%
40
20%
78%
89%
91%
86%
30 20
15%
87%
90%
83%
94%
137%
81%
137% 92%
82% 87%
125% 108% 107% 95%
10
68% 80% 86%
74%
86%
10% 66% 74%
126% 80% 104% 134% 88% 109% 75%
73%
68% 83% 71% 104% 87%
78%
5%
Sources: Oxford Economics
k or
la er nd
Y
nd
ld
y
ie ef ak
D
ha
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m
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ur D
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er W
Su
So
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6
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B
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d ng ti ot N
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fa el B
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ow
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B
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sg
te
s
es ch
an M
b in d
ed
g ur
ha g E
in m ir B
Le
m
h
0 0% 2010
2011
2012
2013
2014
2015
European Union plus UK
Sources: Oxford Economics
2016
2017
France
2018
2019
Germany
2020
2021
2022
Ireland
2023 2024 2025
Italy
2026
Portugal
2027
2028 2029 2030
Spain
UK
7
UK Income Growth
UK Housing Market
As the UK’s economy expanded by 32% in the last 20 years, household income levels have risen in a similar fashion.
With more than 6.2 million newcomers migrating to the UK between 2000 and 2019, the construction sector has struggled to keep up with demand. Just 716,610 housing units were completed between 2015 and 2019, far below the Government’s target of 1.1 million units. Over 196,000 units were completed in 2018/19, bringing the deficit over this five-year period alone to about 383,400.
The UK’s lower-income band is expected to continue to shrink to 1.8 million households by 2035, a fall of 84% since 2000. Between 2000 and 2020, the UK’s middle-income band increased by 49% to over 16 million households and is forecast to decrease to 14 million (-13%) by 2035. This drop is primarily due to a positive shift from the middle- to the top-income band over the next 15 years. The UK’s top-income band has expanded by 157% since 2000, reaching 4.7 million households as of 2020. Incredibly, the band is forecast to grow to 13.7 million by 2035, an increase of 648% since 2000. As a result, the number of high-net-worth and ultra-high-net-worth individuals in the UK is expected to increase by 76% and 39% respectively within the next five years, far exceeding the growth rates in other major economies such as Germany and the U.S.
14.3m, -13% 13.7m, +190%
16 14
Number of Households (millions)
8
GBP (Trillions)
16.4m, +49%
80% 70% 60% 50%
5
40%
4
30%
3
20%
2
10%
1
0% -10%
0
11m
2020
2021
2022
2023
2024
Market Value of Housing Stock (Left Axis)
10
6.9m, -40%
8
4
1.8m, -73%
1.8m
2025
2026
2027
2028
2029
UK House Price Index (Right Axis)
2030
2031
2032
2033
2034
2035
Consumer Spending on Housing Rent (Right Axis)
The market value of the UK’s housing stock is expected to reach GBP9.14 trillion by 2035 with average house prices increasing by 45.2% from 2020 to 2035. Consumer expenditure on household rent is expected to continue its steady incline, with a further rise of 87.8% expected over the same time period.
4.7m, +157%
6
2
90%
Market Value of Housing Stock: GBP9.14 trillion UK House Price Index: +45.2% Consumer Spending on Housing Rent: +87.8%
9
UK HOUSING MARKET
UK INCOME GROWTH
100%
10
6
18
11.4m
UK Housing Market Forecast 2020-2035 -
7
Number of UK Households per Income Band -
12
Combined with a well-diversified and resilient economic environment, house prices in the UK have risen by 161.2% over the last 20 years. With continued demand from both domestic and international buyers, UK house prices rose by an average of 8% in the year 2020 despite the global pandemic.
0 2000 Household numbers by income band
8
2020 $0-$35,000
Sources: Oxford Economics, The Wealth Report 2021 (Knight Frank)
2035 $35,000-$100,000
$100,000+
Sources: UK Housing Statistics (ONS), Oxford Economics
9
Sheffield History
Art and Culture
Located 260km northwest of London, Sheffield lies within the historic county of Yorkshire. The city's history dates back to the Roman Empire and became one of Britain’s leading industrial cities due to its abundant resources such as iron ore for smelting and oak woods for charcoal. The city quickly became a hub of innovation with the creation of crucible and stainless steel. This resulted in Sheffield becoming the UK's production centre for steel and armaments for the war effort during World War II.
Sheffield has a growing cultural reputation and is quickly becoming known for its vibrancy with the Arts, Entertainment & Recreation industry expected to grow by an impressive 52.3% by 2035. Its musical heritage holds an abundance of great bands such as Deff Leppard and The Artic Monkeys. Sheffield also has a tradition of hosting popular musical festivals such as the Tramlines Festival, which attracts over 35,000 people and was awarded the Best Metropolitan Festival at the UK Festival Awards in 2019.
The industrial revolution made Sheffield a flourishing trade centre in the nineteenth century. The increase in economic activity fuelled an unprecedented surge in the city’s population which gave rise to Sheffield’s rich culture and educational footprint. Most notably, these include the establishment of Sheffield Hallam University in 1843 and The University of Sheffield in 1905.
SHEFFIELD HISTORY | SPORT
Sheffield is recognised both locally and internationally for its sporting attributes and is home to numerous sporting events and clubs. In 2018, in commemoration of the 2012 Olympic and Paralympic Games, Sheffield’s GBP50 million Olympic Legacy Stadium was opened. The Park, which includes the National Centre for Sport and Exercise Medicine (NCSEM), has worldclass sports and science facilities and is set to expand its facilities with a GBP250 million development plan. These improvements are expected to be completed over the next five years and bring a further 5,000 job opportunities to the Sheffield City Region (SCR). Sheffield has been a world-renowned home of the Snooker World Championship since 1977, while Sheffield United F.C., formed in 1889, is a founding member of the Premier League. The city’s successful sport and leisure industry currently employs over 50,000 people and generates an annual economic value of over GBP800 million.
Demographics The UK's population is predicted to increase by 2.16 million people (+3.23%) within the next fifteen years, with London, Birmingham and Leeds remaining the most populous cities overall. Sheffield is the fifth most populous city in the UK with 586,730 residents as of 2020. The city’s population has grown by an average of 3,600 inhabitants per annum over the last 20 years and is forecast to grow by 6.2% reaching more than 620,000 inhabitants by 2035. UK Regional Cities Population -
A R T A N D C U LT U R E | D E M O G R A P H I C S
Sport
Sheffield’s thriving art scene is also quickly becoming recognised around the world with its array of galleries. The Millennium Gallery currently attracts approximately 800,000 visitors each year, making it one of the most visited galleries in the North of England. Further to this, the S1 Artspace is set to receive GBP22 million in investment for their venue, making it a world-class destination and one of the biggest galleries for modern art in the region.
1400 9% 24%
1000 16% 7%
800
11%
3%
600
10%
6% 14%
6% 32%11%
400
12% 3%
9% 19%
Leicester
12% 18%
Cardiff
People in thousands
1200
18% 4%
25%
6%
200 0 Newcastle
2020
Nottingham
Liverpool
2000
Bristol
Manchester
Sources: Urban Splash, Oxford Economics
Sheffield
Glasgow
Sources: LSE: Sheffield City Story, Sheffield Olympic Legacy Park, Sheffield Hallam University, SCR: Sports, Leisure, Tourism, Sheffield United FC
Leeds
10
Birmingham
sheffieldolympiclegacypark.co.uk/
2035
11
Sheffield’s Economy
Employment and Incomes
Sheffield’s economy continued to thrive after World War II and maintained full employment levels for most of the post-war era. However, the second half of the twentieth century was a difficult period for the city. Corporate restructuring and nationalisation within the coal and steel sectors, together with deindustrialisation during the late 1970s led to a deterioration in economic performance.
As Sheffield’s economy continued to grow, new jobs were created, resulting in the unemployment rate falling from 11% in 2012 to 4.32% as of 2019. The unemployment rate is expected to rise to a peak of 5.96% in 2021 due to COVID-19 before returning to its pre-crisis full-employment level in the following years. Sheffield's favourable economic climate has resulted in disposable household incomes rising from GBP24,790 in 2000 to GBP39,410 in 2020, an increase of 59%. While disposable incomes dropped slightly in 2020, they are forecast to rebound swiftly and continue rising to hit GBP59,880 in 2035, an increase of 142% since 2000.
30
GBP26.6B
7% £30,000 5% £20,000
4.29%
£10,000
GBP42,689
35,000 3,000
10
25,000 20,000
5
15,000
2010
2015
GDP (Left Axis)
Sources: Oxford Economics
2020
2025
GDP per Capita (Right Axis)
2030
2035
2020
2025
2030
2035
Unemployment Rate
163,692 (+27%) Cumulative:
+75%
14
128,411 (+37%)
126,840
102,852 (-19%)
12 10
93,770
8
44,311 (-57%)
6
Cumulative:
-65%
52,838 (+333%) Cumulative:
+832%
4 2
12,201 (+115%)
5,670
10,000 2005
2015
16
Number of Households (millions)
15
2010
18
45,000 40,000
-1% 2005
Sheffield’s economy almost doubled in size over the last two decades, and the incomes of its residents have followed a similar trajectory. By 2035, the number of people in the lowest income bracket is expected to fall to 44,311 households, a decrease of 65% from 2010. At the same time, those in the middle- and upper-income brackets are expected to rise at an exponential rate, registering growth rates of 75% and 832% respectively over the period.
50,000
20
3% 1%
Disposable Income
55,000
GBP per Capita
GBP (GBP Billions)
25
12
9%
£40,000
Sheffield Household Numbers by Income Band (2010-2035) -
60,000
2000
11%
£50,000
£0 2000
Sheffield Economic Growth 2000-2035 -
0
13%
EMPLOYMENT AND INCOMES
SHEFFIELD'S ECONOMY
£60,000
Source: LSE As a result of Sheffield’s successful recovery plan, the economy has grown by 94.98% since 2000, totalling over GBP14.6 billion as of 2020. After a slight decline due to COVID-19, the economy is expected to expand by a further 81.85% and reach GBP26.59 billion by 2035. At the same time, average GDP growth per capita has risen 71.05% since 2000 and is expected to reach GBP42,689 by 2035, expanding by a further 71.25% from 2020.
£59,880
Unemployment Rate
“Today, Sheffield's strong private sector-led growth is built on the city's engineering traditions; strong university-led research and development; an increasingly varied and vast SME sector ; new business creation; invention and creative production techniques”.
Sheffield's Disposable Income and Unemployment Rate 2000-2035 -
Disposable Income
In 1997, the new Labour government introduced a fresh approach to reinvigorate deindustrialised areas in the UK. New strategies focusing on education, urban renewal, economic development, social integration, and environmental reclamation were considered the key to renewed growth of private enterprise and investment. By 2007, Sheffield had reinvented itself with the aim to build a new city economy based on its laurels as an ‘innovative producer city’. Sheffield is currently in its third phase of regeneration, with the first phase focusing on industrial enterprise and the second on aiding large-scale public reinvestments.
0 2010
2020 Income
Sources: Oxford Economics
$0-$35,000
$35,000-$100,000
2035 $100,000+
13
Productivity Sheffield sits within the Sheffield City Region (SCR), which also comprises the towns of Barnsley, Doncaster and Rotherham. As the only city within the SCR, Sheffield is a major employment centre, especially for highly-skilled jobs in the region.
“Sheffield has a concentration of knowledge-intensive businesses, especially in advanced manufacturing, creative and digital technology industries, healthcare technologies and business, professional and financial services”. Sheffield's Top 6 Sectors by GVA (2000-2035) -
PRODUCTIVITY
2.50
1.96B (+37%)
2.00
GBP (millions)
1.50
1.43B (+54%)
1.90B (+37%)
0.93B
No. of Employees
1.61B (+30%)
1.39B (+44%)
0.96B
Employs: 50,000 Companies: 3,000
AECOM
Automotive
Employs: 17,000 Companies: 2,180
McLaren Automotive
Logistics
Employs: 15,000 Companies:435
Ikea, Next, Amazon
Aerospace
Employs: 7,000 Companies: 495
Boeing, Rolls-Royce, ATI Allvac, Maher, Technicut and Goul Alloys
Banking and Finance
Employs: 19,000
HSBC, Santander, BDO, Lloyds Banking Group, Nationwide & RMS
Professional Services
Employs: 8,000
KPMG, Irwin Mitchell, Grant Thornton, CMS
Healthcare Technology
Employs: 2,000 Companies: 85
B. Braun & Orchid Orthopaedic
Aviation
Employs: 225 Companies: 10
Textron Aviation
1.24B (+32%) 1.04B (+52%)
0.97B (+56%)
0.94B 0.82B
0.68B (+115%)
0.62B (+82%)
Notable Employers
Advanced Manufacturing
1.82B (+68%)
1.08B (+32%) 1.00
Industry Sector
0.50 0.32B
0.00
Wholesale & Retail Trade
Real Estate Activities
Human Health & Social Work 2000
Education 2020
Information & Communication
034B
Professional, Scientific & Technical Activities
2035
It is expected that Human Health & Social Work and Professional, Scientific & Technical Activities will be among the top five sectors that will experience the highest GVA growth between 2020 and 2035. Although Wholesale & Trade is predicted to be Sheffield’s most productive sector with a GVA totalling GPB1.96 billion by 2035, the highest employment growth between 2000 and 2035 is within the Information & Communication sector.
based on 2016 & 2017 figures
14
Sources: Sheffield City Region - Strategic Economic Plan, Oxford Economics
Sources: Oxford Economics, Sheffield City Region
15
Sheffield City Region Investments
SHEFFIELD CITY REGION (SCR) INVESTMENTS
Rolls-Royce
Due to its well-connected location, the SCR has become an attractive destination for many companies to invest. Today the region boasts an impressive array of large-scale industries and collaborations with leading firms. Most notably, those in advanced and digital-led manufacturing and engineering.
Rolls-Royce has also had a noticeable presence in Sheffield that dates back to 1993 with their establishment of the University of Technology Centre. In 2019, Rolls-Royce signed a record-breaking GBP160 million long-term deal with CW Fletcher, a Sheffield-based aerospace and nuclear manufacturing firm. To date, the facility in Sheffield has employed 200 highly-skilled employees.
2. Doncaster Sheffield Airport (DSA) 1. The Global Innovation Corridor The SCR is building a Global Innovation Corridor that aims to connect businesses and people to further solidify the region's innovative reputation. One such location is the Advanced Manufacturing and Innovation District (AMID), set to be the UK’s largest research-led advanced manufacturing cluster. To date, AMID has attracted investment from major companies such as: McLaren Automotive Ltd Total investment value: GBP50 million Jobs created: over 200 In 2017, McLaren Automotive Ltd announced the launch of a new McLaren Composites Technology Centre in the AMID. Today, the GBP50 million facility produces the company’s carbon fibre chassis and is expected to provide an estimated GBP100 million in GVA for the local economy by 2028. Boeing Total investment value: GBP40 million Jobs created: 52 Boeing has had a noticeable presence in Sheffield since it co-founded the Advanced Manufacturing Research Centre with The University of Sheffield in 2001. In 2018, Boeing opened its first manufacturing site in Europe, investing more than GBP40 million in a production facility located in Sheffield’s Business Park. Currently the facility is responsible for manufacturing more than 100 different high-tech components for the company’s 737 and 767 planes. Today, the facility employs over 52 highly skilled employees, including experienced mechanics and engineers.
16
Total investment value: GBP160 million Jobs created: 200
Sources: Sheffield City Council, Sheffield City Region - Strategic Economic Plan, Oxford Economics
Doncaster Sheffield Airport (DSA) Total investment value: GBP10 million Jobs created: 33,000 DSA has seen an exponential growth in demand leading it to become one of the fastest growing airports in the North of England. In direct response to passenger demand, the airport is currently undergoing a GBP10 million expansion project, which aims to be completed by summer 2021. In addition, the installation of a GBP2 million on-site solar farm will generate 25% of the airport’s energy in the years to come. The new improvements are expected to create over 10,000 jobs within the next five years, primarily in engineering, manufacturing aviation, energy and construction, with a total of 33,000 jobs over the next 10 years.The investment into the airport is expected to increase the number of passengers to 4.7 million per year by 2037.
3. HSBC HSBC Total investment value: GBP90 million Jobs created: 2,700 In 2016, HSBC invested GBP90 million into the creation of their Global IT Shared Service Centre. The 140,000 square feet of office space is home to HSBC’s 2,700 employees in Sheffield’s retail quarter.
Sources: Sheffield City Council, Sheffield City Region, Oxford Economics, Sheffield City Region
17
Sheffield City Region’s Regeneration Sheffield City Region Regeneration Programs -
5. New Development Deal 4. Regional Growth Fund 12. Park Hill phase 2
3. Enterprise Zone
11. Doncaster Sheffield Airport
S H E F F I E L D C I T Y R E G I O N ' S R E G E N E R AT I O N
17,000.0
2. Sheffield City Deal
16,000.0
The Advanced Manufacturing Park
15,000.0
GVA (millions)
14,000.0
10. Heart of the City 2 9. Sheffield City Region Growth Deal
1. Heart of the City 1
13,000.0 12,000.0
New Regeneration Funding 11,000.0
8. Sheffield City Region Growth Deal
10,000.0
6. Sheffield City Deal on Skills
9,000.0
7. Sheffield City Region Investment Fund
8,000.0 7,000.0
2035
2030
2025
2020
2015
2010
2005
2000
1995
6,000.0
Sheffield’s GVA
Over the last two decades, the SCR has seen a wide range of regeneration projects that have benefited Sheffield and have resulted in its economic revival. Regeneration projects such as ’The Heart of the City’ and the ’New Development Deal’ have had an incredibly positive effect on Sheffield’s economy. Post GFC, Sheffield’s GVA was on the rise due to numerous regeneration projects such as ‘Heart of the City 2’, one of Sheffield’s most prominent and recent regeneration projects that’s expected to be completed in 2023 and provide around 7,000 new jobs. Significant projects such as this, among others, are expected to contribute towards Sheffield’s booming economy in the next decade and beyond.
18
1. Heart of the City 1 •GBP130 million •Completed
2. Sheffield City Deal •GBP700 million •4000 new apprentices
3. Enterprise Zone •GBP5 million •Over 7000 jobs
4. Regional Growth Fund •GBP25 million to invest in local businesses
5. New Development Deal •GBP32.8 million •GBP200 million direct private sector investment •GBP93 million GVA uplift •Over 7000 new jobs
6. Sheffield City Deal on Skills •GBP25 million •4000 new apprentices •2,000 job opportunities
7. Sheffield City Region Investment Fund •GBP700 million •Extra 68,000 job opportunities by 2022
8. Sheffield City Region Growth Deal •GBP295.2 million •8,000 job opportunities by 2021
9. Sheffield City Region Growth Deal •GBP105.9 million
10. Heart of the City 2 •GBP470 million •7,000 job opportunities •Completion: 2024
11. Doncaster Sheffield Airport •GBP10 million •33,000 job opportunities in the North •Completion: 2021
Sources: bbc.com/news/uk-england-south-yorkshire-43371915
12. Park Hill phase 2 •GBP100 million •100 job opportunities •Completion: 2021
19
Education The lifestyle Sheffield has to offer has attracted students locally and from abroad, drawn to its cultural diversity and world-class educational institutions. Ranked 103rd in the world, it makes a feature on the list of Best Student Cities according to the QS World University Rankings. The city boasts a diverse student community, with 22% of its 53,600 students coming from outside the United Kingdom. The city itself is home to two top-class universities. The University of Sheffield is ranked within the top 15 in the UK and is number 121 in the world rankings , whilst neighbouring Sheffield Hallam University recently was awarded The Times’ and Sunday Times’ University of the Year for Teaching Quality. The high graduate retention rate of 45% has resulted in 34% of Sheffield’s population being under the age of 25 years old. It also adds to the growing local economy as major companies establish head offices to take advantage of the young and highly-skilled talent pool.
E D U C AT I O N
25,548 full-time students 11% international students
Sustainability: Green Sheffield A green city, Sheffield was recently ranked within the top 5 eco-friendly cities in the UK. Through various schemes such as the ’Green City Strategy’ and ’Grey to Green’ the city continues to reduce its carbon footprint. With projects emphasising e-mobility and the successful integration of various energy sectors, the city has already reduced its carbon emissions per capita by 89% between 2005 and 2018.
S U S TA I N A B I L I T Y
26,765 full-time students 35% international students
Sheffield’s commitment to building a low-carbon and cleaner economy is evident with its numerous projects and partnerships, most notably being the University of Sheffield Translational Energy Research Centre. The centre, which is scheduled to open in 2021, will be one of Europe's largest and most advanced research and development facilities. The centre will be an innovative research and testing facility for academics and partners within bioenergy, zero-carbon production, Carbon Capture and Storage, and the combustion industry.
20
Sources: QS Top Universities, Knight Frank, Times Higher Education
21
Transportation Sheffield's central position in the UK's transit network has accelerated mobility and connectivity to the city. Individuals and freight can easily travel from Sheffield to other UK cities and beyond thanks to various connections via air, rail and road networks.
Tram In operation since 1994, the 29 kilometre Stagecoach Supertram network encompasses 4 lines and 50 stations, carrying over 10.5 million passengers annually. The SCR recently secured GBP166 million from the Transforming Cities Fund in order to boost public transportation and cycling connectivity throughout the region.
Rail Developments to Sheffield Midland Station will be at the heart of the transformation of Sheffield city centre and the SCR over the next 20 to 30 years. Capitalising on the catalytic effects of the HS2 and Northern Powerhouse Rail, it will set the standard for future transformational growth in the city. Sheffield Railway Station is well connected having seen 10.1 million passengers between 2019 and 2020 alone. The city offers direct lines to major cities like London, Liverpool and Manchester. In March 2021, investment funding of GBP137 million was secured for upgrades to further improve connectivity between Sheffield and Manchester. T R A N S P O R TAT I O N I N F R A S T R U C T U R E
Travel Time by Rail Location London Birmingham Manchester Liverpool Manchester Airport Heathrow Airport Gatwick Airport
Travel Time to Sheffield (Hours) 2:08 (HS2: London Euston = 1:27) 1:08 (HS2: Birmingham = 0:57) 0:53 1:37 1:30 3:16 3:13
The HS2 will provide much-needed rail infrastructure throughout the UK, forming part of the rail projects in the North and Midlands. It will serve Sheffield Midland Station on a dedicated link and connect Sheffield to London in just 87 minutes, reducing the current commute time by 32 minutes.
22
Sources: Office of Rail and Road, BBC, HS2 Ltd
Air In operation since 2005, Doncaster Sheffield Airport is one of the largest expanding airports in the north of England, carrying over 1.4 million passengers in the year 2019, an increase of 64% since 2015. Offering connections to 45 destinations across 17 countries, both business and leisure travellers have an abundance of routes to choose from.
Sources: Stagecoach, UK Civil Aviation Authority
23
DEMAND Resulting from a period of weak economic performance beginning in the late 1970’s, Sheffield’s population began to fall. However, once the Labour government’s economic initiatives started to yield results in the early 2000’s, Sheffield’s population again began expanding at a rapid rate. From its 513,300 residents in 2001, the number of residents living in the city had grown to 586,730 as of 2020. The population is expected to continue on this growth trend, totalling 623,040 by 2035, a 21% increase since 2001. This high level of population growth has, and will continue to, put immense pressure on the city’s housing stock.
Construction activity in Sheffield has been unsuccessful in meeting the demand resulting from the high levels of population growth since the early 2000’s. Between 2012 and 2020 alone, a mere 11,439 units were added to the housing stock, which totalled 251,887 units as of 2020. Therefore, with only 4.5% of Sheffield’s housing units completed in the last 8 years, there is a significant undersupply of new-build investment grade properties in the city. Sheffield’s city council expects 2,248 units per annum to be completed between 2020 and 2035, below the annual new-build requirement of 2,923 units. As a result, an undersupply of at least 11,328 housing units is expected by 2035 meaning a 26% shortage of the housing requirement.
Sheffield Housing Plan and Completions -
Sheffield Population Growth Trend 1980 - 2035 -
16,000
630,000
Housing Target
14,000
610,000
Total Population
SHEFFIELD HOUSING MARKET | DEMAND
S H E F F I E L D H O U S I N G M A R K E T | S U P P LY & S A L E S & R E N TA L M A R K E T
Sheffield Housing Market
SUPPLY
590,000
570,000
12,000 10,000 8,000 6,000 4,000 2,000 0
550,000
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Number of Completions
Unfulfilled Target
530,000
510,000
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SALES AND RENTAL MARKET 1981
1985
1989
Sources: Oxford Economics
1993
1997
2001
2005
2009
2013
2017
2021
2025
2029
2033
Sustained population growth combined with the economic revival since the early 2000’s has lead to house prices in Sheffield increasing by an average of 13% per annum. With these underlying factors expected to remain in place in the years to come, house prices in the region are forecast to rise by a further 28.2% up to 2025, compared to the UK average of 21.1%. Sheffield offers excellent value for investors, with prices on average 9% below that in cities such as Leeds, Birmingham and Manchester as of 2020.
Sources: Oxford Economics, UK Parliament, Sheffield City Council
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THE DEVELOPMENT
Kelham Ridge SHEFFIELD
Computer generated images are intended for illustrative purposes only
Kelham Ridge is comprised of studio, one- and twobedroom apartments featuring contemporary interior design and spacious, bright rooms. The residence is situated a stone's throw from historic Kelham Island, once the beating heart of manufacturing. The remains of old factories and workshops have given the area a distinct charm, now housing trendy galleries and microbreweries. Offering 84 units, Kelham Ridge will undoubtedly prove popular for the ever increasing young, professional and student community.
AREA MAP TRANSPORTATION
NEEPSEND
1
1
21 min walk /
1
KELHAM ISLAND
3
2
1
1
1 2 3
1
9
2
2 AREA MAP
10 8 7 2
9
SHEFFIELD CITY CENTRE
3
4
5
PARK HILL
SHEAF VALLEY QUARTER
1
Tesco Express
4
Tesco Extra Tesco Superstore
16 min walk
5
3
6
Hair Salon 6 min walk PARK HILL
The Gym Sheffield Kelham Island
6
4
7
Yoga Studio Fitness Centre Pharmacy
8 9
1
EMPLOYMENT HUBS
Kelham Ridge SHEFFIELD
2
10 Post Office 22 min walk
The Harlequin - Bar
6
The Taphouse bar
4
Boeing Sheffield 8 min drive
McLaren Composites Technology Centre (MCTC) 16 min drive
6
Sheffield Titans Football Club
4
7
10 min drive
Kelham Island Brewery
5
The Fat Cat
8
16 min walk
3
9
Starbucks 15 min walk
10 Costa Coffee 16 min walk
EDUCATION
Sheffield Hallam University 15 min walk
Ponds Forge International Sports Centre
Sushi Restaurant 16 min walk
6 min walk
1 2
The Grind Cafe 6 min walk
5 min walk
Rolls Royce
SPORTS CENTRE
22 min walk 28
5
16 min drive
21 min walk
1
Craft & Dough
Kelham Island Tavern 7 min walk
5 min walk
HSBC Head Quarters
Yoga Studio
CAFE & RESTAURANT
3
1
Dentist
20 min walk
4 min walk
12 min walk
Central Library
17 min walk
8 min walk
Sheffield
Hardware Store - Wilko
20 min walk
10 min walk
1
Aviva
11 min cycle
12 min walk
4 min walk
3
Sainsbury's 25 min walk /
10 min walk
2
Lloyds Banking Group
Co-op Food 16 min walk
8 min walk
5
6
1
Tesco Express - Edward Street
LOCAL AMENITIES
8
3
Total Car Parks 1 min walk
16 min walk
6
2
4
10 min walk
1
4
10
2 min walk
2 min walk
5
5
Pitsmoor Road Bus Stop
Mowbray Street Bus Stop
SUPERMARKETS
WEST BAR
4
8 min cycle
2 min walk
2
3
3 54 2 7 6 2
3
2
4
3
Sheffield Station
2
The University of Sheffield 23 min walk
The Foundry Climbing Centre 4 min walk 29
COMPARABLE MAP
PARKWOOD SPRINGS
Kelham Ridge NEEPSEND SHEFFIELD
Av. Studio - £114,000 (£331 psf) Av. 1 Bed - £142,000 (£303 psf) Av. 2 Bed - £173,000 (£261 psf)
KELHAM ISLAND
DANDOR HOUSE
BIRTIN WORKS Av. 1 Bed - £112,222 (£330 psf) Estimated Completion: Q3 2022
WEST
Av. Studio - £129, 523 (£443psf) Av. 1 Bed - £186,642 (£364 psf) Av. 2 Bed - £228,495 (£309 psf) Estimated Completion: Q3 2022 BAR
CO M PA R A B L E M A P
R
BURGESS HOUSE PARK HILL
Av. Studio - £142,750 (£3680sf) Av. 1 Bed - £150,750 (£330 psf) Av. 2 Bed - £213,062,(£321 psf) Estimated Completion: Q3 2021
COUNTY COURT Av. 1 Bed - £158,500 (£324 psf) HILL Av. 2 Bed - £211,500PARK (£297 psf) SHEAF VALLEY Completion: Q4 2021 Estimated QUARTER
SHEFFIELD CITY CENTRE
Sheffield
SHEFFIELD CENTRAL Av. Studio - £121,000 (£465psf) Av. 1 Bed - £140,789 (£427 psf) Av. 2 Bed - £212,250 (£396 psf) Estimated Completion: Q1 2021
CUTLERS VIEW
For more information, please speak to one of our consultants.
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Computer generated images are intended for illustrative purposes only
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Computer generated images are intended for illustrative purposes only
Computer generated images are intended for illustrative purposes only
Specifications Living Space • Pendant lighting to living areas • Palio Karndean - Sardinia flooring • All switches, sockets, tv, data, and other electrical points (excluding kitchen) to be white plastic
S P E C I F I C AT I O N S
Kitchen • Appliances to be Zanussi or similar. • 18mm melamine faced base units, matt grey (inc 1no drawer unit), sizes as per kitchen design.18mm melamine faced wall units, matt white, sizes as per kitchen design. • Copper effect bar handles to all cupboard doors. • 28mm square edge HPL laminated worktop. 100mm square edge HPL laminated upstands. • Glass splash back to be provided behind hob - Integrated single • Oven/grill – stainless steel finish • Halogen above worktop four ring hob • Brushed stainless recessed LED spotlights • Integrated dishwasher • Integrated fridge/freezer 2:1 • Free standing Beko or similar washer/dryer • Black ceramic glass wall mounted electric extractor hood, Elica or similar • Stainless steel single above worktop sink and drainer • Brushed steel mixer tap • Brushed steel sockets Bedrooms • Palio Karndean, Sardinia flooring with appropriate base layer • White plastic pendant light fitting • All switches, sockets, tv, data and other electrical points to be white plastic • 1 white thermostat electric radiator Bathrooms / Ensuites • 600x300mm ceramic floor tiles • 600x300mm ceramic wall tiles (full height tiling to all walls with chrome trims) • Brushed stainless steel recessed spotlights • White plastic shaver points • White bathroom suite • Chrome plated mixer tap to bath • Concealed cistern system to toilet • Glazed half bath shower screen with chrome plated trims and hinges • Shower system with exposed wall mounted chrome plated shower head Miscellaneous • Double Glazed Windows • Voice-Only Entry System to each apartment • Ceiling Height 2.4 Metres 36
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