Commercial Management Essay Example | Topics and Well Written Essays - 1500 words

Commercial Management - Essay Example Peace Gardens were the first to open in 1998. The Millennium Galleries showcases cultural themes involving visual arts, craft and design. The Peace gardens and illuminated fountains put on a spectacular show during the night. Unique architecture in the form of stylish arches, winding pathways, glasshouses and tropical plants blend in to produce a spectacular sight. The Peace Gardens, Millennium Square and Winter Gardens are part of the Gold Network of attractive public spaces. They form a powerful hub and are the point at which the major route to the city centre from the station and the pedestrian link between the two universities intersect. The grant awarded to this project amounted to ?22,700,279 and the total cost incurred in this project has been ?45,221,155. Aims and Objectives: The primary objective of the project was to help the city of Sheffield regain its status as one of the top localities in Europe by making it more attractive to residents, outside investors and visitors. The aim was to do this by creating a lively, high quality, safe and sustainable city centre lively city centre for living, leisure, learning and retail. This was a key site which had been under-utilized in terms of commercial and public usage. The project was also aimed at expanding the Economy of the City in order to create new jobs and allow growth. High quality offices were to be designed in the city centre from where high profile functions of companies could be performed. A bustling hub of financial and professional services would also promote an investor-friendly image necessary to boost the local economy. Eventually all the economic growth would have allowed employment opportunities for the local community. In order to support the projected commercial and tourist activity, infrastructure was required. Projects like ‘Station Gateway’ and ‘New Retail Quarter’ were designed to improve accessibility, movement and linkages in the city. How successful has t he project been? One of the questions the OGC 5 Gateway asks is whether the project is a success or not. Apart from a few shortfalls the project has largely been a success. The futuristic design of the City Centre has largely been successful in attracting local and foreign businesses. Tourists and students have also been drawn to the city giving a boost to the local economy. The Gateway is also interested in knowing in weather the business case in which investment is made is even valid. The business case for this venture still holds great value as it a profitable venture. City buildings and infrastructure were old and an improvement was required. A significant amount of the revenue was generated from this part of the city so it was necessary to develop this prime location. After the opening of the Millennium Galleries, ninety percent of Sheffield Museums and Galleries Trust income was generated by it alone, prior to the re-opening of the Weston Park Museum. Two-thirds of apartments were already sold even though a brick had not been laid, though 40% have passed to institutional investors. Economic activity has increased and more commercial outlets have set up their offices at St. Paul’