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Sheffield鈥檚 long-planned 拢480m city centre retail quarter has been given a boost with banking giant HSBC committing to the scheme.

Designed by Leonard Design Architects, construction on the project鈥檚 first phase, which will see 15,000 sq m of office space and 6,000 sq m of retail space built, is set to begin in the first quarter of next year.

The first phase includes HSBC鈥檚 140,000 sq ft office building (pictured) with roof terrace on the site of the former Grosvenor House Hotel in Wellington Street after the bank signed a 15-year lease.

The bank is relocating to the new quarter from its current offices in Hoyle Street and Griffin House. Completion on its new home is scheduled for spring 2019.

Sheffield City council deputy leader Cllr Leigh Bramall said: 鈥淪heffield Retail Quarter is now becoming a reality and we are delighted that we can begin to deliver our vision for a compelling mix of retail, leisure and business which meets the needs of our city now and in the future.

鈥淗aving a major international company like HSBC on board gives the core of our city centre, and the burgeoning business and financial services cluster located there, a great boost.鈥�

The 900,000 sq ft scheme is being delivered by the council in partnership with Queensberry Real Estate, who were chosen by the council earlier this summer after a protracted search following retail developer Hammerson exiting the scheme in 2013.

The plans will see the area between Barkers Pool, Pinstone Street and Charter Square transformed with new shops, offices, restaurants and flats.

Turner & Townsend are the programme, project, cost and procurement manager on the project.