The recovery of Sheffield has
been a long time coming after
the loss of so much steel and
A key part has been played by the
Heart of the City project where the
final building, a 7,060 sq.metres
) 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 (26,974sq.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 2017www.compropregister.com
Sheffield has really come to life
recently with the completion of
new developments and plans for
These include a transforming
regeneration project by the council
(with Queensberry Real Estate as
a partner) in the heart of the city’s
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
), 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.
West Bar Square, Sheffield
Church of England’s
Diocese of Leeds has
combined its four offices in
West Yorkshire into a new
office of 1,598 sq.metres
.) in York Place,
Leeds. It is currently being
refurbished by Artez.
Sheffield Digital Campus