UOWN has made a bid to fund a new development in the Castlegate area of Sheffield.
The project comes as part of a wider regeneration project by Sheffield Council. The development will comprise twelve apartments and is due for completed by the start of 2020. The properties will be solely available for first-time buyers.
The city is set to play host to several other developments, including redevelopments to the Old Town Hall, the Courthouse, and Sheffield Castle.
UOWN, founded in 2016, is based in Leeds. The company aims to democratise property investment by enabling customers to invest in property from £1. It has estimated that 200 people will invest in the Castlegate development via the UOWN platform.
he twelve apartment project will be completed by the start of 2020 and feature one bedroom properties which will be made available exclusively to first-time buyers. It is estimated that 200 people will invest into the project together using the UOWN platform.
Castlegate Programme Director, Simon Ogden, said: ‘We wanted to work with local business partners, people with a real interest in building on its unique character and who share our vision. UOWN have an interesting new model for helping people to invest in the local Sheffield economy, we have big ambitions for the Castlegate area and the Castle Street project is an important example of fresh thinking on how to unlock the potential of the former Stantons Bakery and Cafe – one of the most distinctive buildings in the quarter.
Haaris Ahmed, co-founder of UOWN, said: ‘We are always looking for interesting opportunities for our UOWN customers, so working with Sheffield Council to regenerate the Castlegate area was a no-brainer. The old Stanton Bakery building is a classic piece of architecture, and our plans will sympathetically update the building. Once completed, these beautifully finished apartments will be made available for locals and first-time buyers. There will be no foreign investors buying them all up, making sure we are giving Brits a chance to start their own property journey.’