Sheffield Innovation Spine
CLIENT CONTEXT
Sheffield’s city centre innovation economy faces a structural gap between demand for specialist space and the ability of the market to deliver it. Low rents, high build costs and cautious investors mean that private sector speculative development is unlikely to be viable. Alternative models are needed to build momentum and market capacity.
PROCESS
Start Advisory led a team that was appointed to develop an investment toolkit that responded to market needs, prioritised site selection and delivery, supported innovation cluster incubation and growth, and provided the client with a set of tools that could be used going forward. The work combined demand analysis, spatial assessment and site by site viability modelling, with a focus on effective execution, sustainable growth and commercial realism.
We tested delivery models, funding mechanisms and ownership options, identifying where public intervention was justified and how risk could be managed through sequencing. A portfolio approach was recommended, prioritising smaller, faster and lower risk schemes to prove demand and build momentum.
RESULTS
The study produced a clear, investable roadmap: a hierarchy of sites, delivery routes and funding tools aligned to realistic demand and viability. It has given Sheffield Technology Parks and its partners a credible basis for decision making, early delivery and targeted intervention to crowd in private investment.
“We are very excited to be working with the team led by Start Advisory. They have brought real understanding that has helped us identify the specific barriers to growth and investment but also shown how these barriers can be overcome using a variety of approaches to development sequencing, prioritisation and funding mechanics that we had not considered before. Their commitment to working in partnership with us as clients and our wider partner network and to listening and being honest about options and solutions has built confidence with key stakeholders. The innovative financial modelling approach that they have brought through the Vestega modelling platform has also been very helpful and given us an easy to use set of tools to continue to evaluate new opportunities and compare schemes and strategies easily. We look forward to continuing to work with the team.”
— Charlotte Thompson, Project Director, Sheffield Innovation Spine
