Sheffield’s economy is celebrating growth despite national decline – with nearby cities such as Leeds and Nottingham experiencing significant shortfalls.

A new report has shown monthly sales in the city centre reached £18 million on February 2025, representing a 0.6% increase from February 2024. The findings come from SheffieldBID, the organisation responsible for the City Centre’s Business Improvement District.

One part of the city responsible for this strong economic performance is the new retail developments on Cambridge Street as part of the Heart of the City programme.

Cambridge Street Collective, the largest purpose-built food hall in Europe, is just one of the many venues contributing to the success of Sheffield’s restaurants this past year.

Among other businesses emerging in the city centre are The McKee Gallery, showcasing the work of prominent Sheffield artist Pete McKee, as well as fashion retailer The Cream Store, which opened its doors October of last year.

Kyle Barley, 38, store manager of The Cream Store said: “I think Sheffield is a great city, obviously the city centre has been a bit poor previously, but with this new regeneration, I’ve noticed how busy this area gets.”

Comparable retail centres in Leeds and Nottingham have seen sales fall by 5.4% and 2.7% respectively, compared to last February.

Year-to-date sales for January and February are up 1.8% over the previous year as well. Though footfall has fallen by 0.9% and the number of transactions fell by 7.5%, an increase in revenue generated per customer (1.5%) and average transaction value (8.8%) has bolstered trade.

The powerhouses behind this growth have been Sheffield’s restaurant, tourism and household goods sales with transport, retail, and health and beauty facing challenges. The decline in general retail in the area is substantial, and suggests that people are spending more on experiences, rather than goods.

Brian King, 56, who has lived in Sheffield most of his life, said: “The building work makes the city look a mess, but once all the shops are open, I reckon it’ll be good for the area.”

Mr King went on to say how the new openings add variety to the choices Sheffield’s shoppers have.

One of the 20 food and drink vendors under Cambridge Street’s roof is burger restaurant Unit.

Ven Tsetkov, 27, head chef of Unit, said: “I think the venue brings people together, which is a good thing. You can see people communicate with each other and there is a lot of kids and families”.

SheffieldBID collects a 1% levy on the value of premises within its area for use in making improvements. The Sheffield BID encompasses nearly all the city centre, stretching from St Mary’s Gate to West Bar and from Sheaf Street to Upper Hanover Street.

Many business owners believe that while Sheffield’s regeneration has greatly benefited the economy, but some say the city centre needs solutions to limited parking availability to attract more visitors.