The agreement will see Sheffield Hallam draw down £70m to support the development, which is a key part of the University achieving its ambition to become the world's leading applied university.
Planning has already been approved for the first phase of the plan, which will see three new buildings for teaching and learning on the site of the former Science Park and adjoining car park adjacent to Howard Street leading up from Sheffield Station.
Improvements will enhance a key gateway to Sheffield City Centre and create a new ‘university green’ public space, whilst creating new buildings that are zero carbon ready. The predominantly brick buildings will also preserve and enhance the character of the surrounding Cultural Industries Quarter, which is home to several historic buildings from Sheffield’s industrial heritage.
The Science Park has already been demolished and construction is set to begin in 2022. The development is the first phase of wider plans to improve the city centre campus, which is estimated to see over £200m invested in delivering significant benefits for students, staff and the wider community - making Sheffield Hallam an even more attractive place to study and work.
Professor Sir Chris Husbands, Vice-Chancellor at Sheffield Hallam University, said:
“Our campus plan will greatly enhance the learning and working experience for students and staff, therefore we are delighted to have been able to work with Pricoa Private Capital on this agreement to support the acceleration of the development.
“Work has already begun on the first phase of the campus plan, and we look forward to the development progressing over the months and years ahead.
“This transformational change is a key part of Sheffield Hallam’s vision to become the world's leading applied university; showing what a university genuinely focused on transforming lives can achieve.”
Adam Shield, Director at Pricoa Private Capital, said:
“We are delighted to be partnering with Sheffield Hallam University through a £70 million Private Placement issuance to support the acceleration of the University’s campus plan.
“Sheffield Hallam is a vitally important institution to the South Yorkshire region, its industry partners and in widening higher education access. The University’s investment in high quality facilities in the heart of Sheffield will bring significant benefits for students, staff and the city of Sheffield, as well as furthering the University’s ambition to create an environmentally sustainable campus.
“Sheffield Hallam shares Pricoa’s culture of building long-term relationships and we are excited to be a partner to the University in the years to come.”
The Campus plan is being developed by a number of key partners as part of collaborative ‘Hallam Alliance’. The first of its kind in the UK for a university building programme, the Alliance involves all design, construction and facilities management partners working collaboratively with the client through all stages of design, construction and operation.
Members of the Alliance include Sheffield Hallam University, BDP ARUP (Design), BAM (Construction) and CBRE (Facilities Management).
