Sheffield City Council has released the names of the three development partners that have been shortlisted to be considered to work on the new £480 million city centre development.

The prospective partners are Aspire Development Management Ltd, Lend Lease Europe Holdings Ltd and Queensberry Real Estate. aspireDM will now compete in the next stage of the selection process to be the development partner for the Sheffield Retail Quarter, involving detailed discussions on its proposals with the aim of being selected as a preferred partner by early 2016.

Councillor Leigh Bramall, the Council’s Deputy Leader and Cabinet Member for Business, Skills and Development said: “We are looking forward to meeting each of the bidders to discuss their proposals for the delivery of a modern, vibrant and transformational redevelopment that complements and enhances the existing architectural design of the city centre and surrounding area.”

An outline planning application for the development was submitted last month, which will see the area between Barkers Pool, Pinstone Street and Charter Square transformed with new shops, offices, restaurants and flats.

Sheffield Retail Quarter could create around 2,500 jobs and bring in approximately an additional £300 million a year to the city centre that people currently spend elsewhere.