Sheffield City Council has shortlisted three developers to be considered to work on a new £480m retail quarter development.

The proposed partners are Aspire Development Management, Lend Lease Europe Holdings and Queensberry Real Estate.

These companies will now proceed to the next stage of the selection process, which involves discussions with each of the bidders on their proposals.

A preferred partner is to be selected by early 2016.

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The project involves developing the area between Barkers Pool, Pinstone Street and Charter Square into new shops, offices and flats.

Deputy leader Councillor Leigh Bramall 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.

"The bidders have extensive experience in exciting, major developments in this country and internationally. We’re right on track to start work on site next year, with the majority of shops opening in 2019."

An outline planning application was submitted last month.

The council is targeting 80% completion between 2019, with further final phases being completed in 2021.

(LM)