Pluto Finance closes £15m development loan for 100 unit co-living development in Sheffield

We're pleased to have completed a £15m loan to support Grantside, led by Steve Davis, on Hive, an exciting new co-living development in Kelham Island, Sheffield.

The scheme is designed with community and sustainability at its core. With a clear ambition to achieve net zero carbon, the development adopts a lean, clean, green approach throughout, from BREEAM 'Excellent' building fabrics and renewable energy sources, to rooftop allotments, yoga and fitness classes, and even an on-site bike shop.

Importantly, Hive will deliver high-quality, fully serviced rental accommodation at a more accessible price point for young professionals, helping to bridge the gap between affordability and quality in the city-centre rental market. By combining shared amenities, flexible living and thoughtful design, the scheme supports those seeking well-located homes without the cost premium typically associated with new-build urban living.

What makes this project particularly special is the inclusion of grant funding from the South Yorkshire Mayoral Combined Authority (SYMCA), helping to unlock a prominent brownfield site and deliver much-needed, amenity-led living in the city centre.

Evan Griffin, our Lending Director for the North and Midlands commented: "Delighted to be able to support Steve and the wider Grantside team on this exciting co-living scheme, bringing much needed amenity-led living in Sheffield city centre. A big thank you to Burges Salmon for their support on the legal side, and to Oliver Holden at Property Finance Group for the introduction along with Max Talbot of Nexus Re, Miles Hunter at Colliers for MS and valuation services."

We're looking forward to working with Steve and the Grantside team again on their next project.