|Service||Sustainable Value Report|
|Sector||Development and Regeneration|
Northpoint Developments commissioned RealWorth to conduct an initial Sustainable Return on Investment (SuROI) appraisal for plans to renovate and repurpose a former iconic department store in Sheffield. It was intended that as the project took shape and matured the SuROI work would respond with further iterations which captured additional value as it was delivered. A clear purpose of the report was to show to Sheffield City Council that its grant for the redevelopment of the building would be repaid through a boost in local economy and the social value of surrounding communities. Features of the scheme included street food offers, an arts college, maker spaces, technology enterprise accelerator spaces, and supported co-desking. The results of the SuROI calculations showed that the bulk of social value would come from benefits to business tenants, with other social value experiences by new visitors to the area, and job opportunities for the wider local community.