Developer Ashgate is regenerating the disused Nichols Building, creating a mixed-use scheme with private residential units and 10,000 sq ft of commercial space.
Previously specialising in accommodation for Sheffield’s student community, this is the developer’s first private rental scheme.
A spokesman said: "The development will retain many of the building’s original features, including mosaic tiling, stone and brickwork, and incorporate new energy efficiency measures to minimise the development’s carbon footprint.
"The development facility from Lloyds Bank is supporting the installation of key sustainability features including enhanced insulation, double glazing and 4,000 sq ft of solar panels that will provide heated water to the building. The funding will also support the purchase of new bird and bat boxes to help protect the local wildlife population."
Work is set to begin this summer, with the development expected to open its doors in May 2022
Matthew Jacques, director of Ashgate , said: “The Nichols Building has a rich history and is an iconic location in Kelham Island, so we were determined to give it a new lease of life. Our scheme will not only bring the building back into productive use, but will provide sustainable, eco-friendly living for residents of Sheffield.
Peter Egan, relationship director at Lloyds Bank Commercial Banking, said: “Developers like Ashgate have a huge role to play in helping the UK meet its ambitious net-zero carbon targets. Forward thinking schemes like this not only help to preserve and regenerate much-loved community assets, but deliver new homes that are truly fit for the future.”
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