Redevelopment of the former Cole Brothers Department store in Barkers Pool has taken a step closer after the finalisation of a lease with property company Urban Splash.

Plans to renovate the Steel City landmark into a mixed-use entertainment, leisure, and retail venue commenced in 2023.

Council leader Tom Hunt, on the advancements, said: “It is fantastic to see another significant milestone achieved for this project. The former Cole Brothers building is an important and much-loved part of Sheffield city centre, and it will be great to breathe new life back into it.”

With a 250-year lease agreed on, public consultation on thoughts and ideas for the building should begin in a few months.

Optimism regarding the update was clear, with many pleased to hear that plans to improve the centre were being taken seriously.

Bissan Jafar, 18, who lives in Moore Street, said: “I mean, Sheffield’s great, but the city centre could be so much better than it is, any update is a good update if it means there’s finally going to be more to do.”

The work complements the widespread development happening as a part of the council’s ‘Heart of the City Scheme’.

Council leader Tom Hunt emphasised the importance of re-vamping the Cole Brothers, calling it ‘hugely beneficial’ for the city centre.

Mark Latham, regeneration director at Urban Splash, said: “We are still in the early stages and we are looking forward to consulting with the local community and stakeholders as we start to work up our plans.”

Most of the structure is to be maintained, with improvements mainly to the building’s thermal performance and energy efficiency, aligning with the city’s climate goals.

Work will start on the lower floors towards the end of 2025 and could last until the end of 2027.

Mark Latham added: “There’s a lot of hard work ahead, but we are excited to get started as we take on another Sheffield icon.”