Previous Page  6 / 20 Next Page
Information
Show Menu
Previous Page 6 / 20 Next Page
Page Background

The recovery of Sheffield has

been a long time coming after

the loss of so much steel and

engineering business.

A key part has been played by the

Heart of the City project where the

final building, a 7,060 sq.metres

(76,000

sq.ft.

) speculative office

developed by CTP at 3 St Paul’s Place

was completed in the summer and

opened by Lord Kerslake, former

Chief Executive of the council who

started the scheme 20 years ago.

Andrew Antoniades of CBRE

commented: “The development of

3 St Paul’s Place will ensure that there

is a market-leading occupational

space in the centre of Sheffield”.

Meanwhile, research by Lambert

Smith Hampton (LSH) said that

although demand for office space in

Sheffield is subdued because of the

Brexit vote, owner occupiers are

seeing value in the out of town

market. This is shown by that sector

beating the centre in the second

quarter with take up of

2,506 sq.metres (26,974

sq.ft.

).

The supply situation will be

transformed next year with the opening

of the Sheffield Digital Campus and

the refurbished Steel City House.

Tom Buriaga of Lambert Smith

Hampton said: “It is clear we are seeing

an improvement in the office market

following a difficult second quarter.

Out of town has proved to be more

popular with owner occupiers taking

advantage of depressed capital

values. We are expecting a strong

finish to the year in both markets”.

Like other cities, Sheffield has

a thriving market in student

accommodation and Unite has

acquired a site in the city centre

close to the university for a scheme

to house 570 students in a

£35 million development.

Commercial Property Register

November 2016 - May 2017

www.compropregister.com

6

6

Sheffield has really come to life

recently with the completion of

new developments and plans for

further improvement.

These include a transforming

regeneration project by the council

(with Queensberry Real Estate as

a partner) in the heart of the city’s

retail area.

The plan is for a £490 million

development that will bring world

class shopping to the centre of

Sheffield. Paul Sargent of Queensberry

commented: “My team has been

focused for the last 18 months on

winning this major instruction. It is

a dream come true with a scheme

that will meet the scale of our

ambition and challenge our creative

experience to date”.

In another major project for the

city, Urbo is to develop a £175 million

mixed use scheme of 10 buildings at

West Bar Square of 130,060 sq.metres

(1.4 million

sq.ft.

), with half in offices,

300 flats, shops, restaurants and

possibly a 4 star hotel.

Once again, the council played a

leading role in the development,

which has BNP Paribas Real Estate

and Knight Frank as letting agents.

Looking ahead, the decision to

route the HS2 line into the city

centre, rather than on the outskirts

at Meadowhall, will really put

Sheffield on the international map.

Mark Latham of Urban Splash said:

“The arrival of HS2 in the city centre

is a real positive for the long term

future of Sheffield and is a massive

bonus”. That underpins the decision

of Sichuan Guodong Construction to

invest £220 million in a property

deal in Sheffield, claimed to be the

largest Chinese investment outside

London. The money will be spent on

five projects in the city centre over

the next three years. These will

include offices, shops, apartments

and the city’s first five star hotel.

An indication of the widening

occupier base in Sheffield is

provided by Maple Syrup Media

taking a floor in Fountain Precinct

for its UK Quidco business, which is

a cashback platform.

Sheffield

SOARS

NEWS

West Bar Square, Sheffield

IN BRIEF

The

Church of England’s

Diocese of Leeds has

combined its four offices in

West Yorkshire into a new

office of 1,598 sq.metres

(17,200

sq.ft

.) in York Place,

Leeds. It is currently being

refurbished by Artez.

Sheffield Digital Campus

Andrew Antoniades

Revival