Sheffield occupiers on the move

A recent survey by property consultant Lambert Smith Hampton revealed an above average 93,000 sq ft of Sheffield office lettings in Q3 2015. This figure is 43% up on the Q2 total.

The July to September total was dominated by lettings to two professional services firms; with 13,000 sq ft let to Wake Smith at Velocity in the city centre and 12,000 sq ft to Frogomen at Savile House in Attercliffe. The survey reveals there were 25 deals in the quarter at an average of nearly 4,000 sq ft.

Other recent occupier activity being tracked by Metropolis includes: Sky expanding at Technology Hub at the Electric Works, Sheffield Digital Campus; Arnold Magnetics expansion at Vector 31 Business Park; law firm Slater and Gordon has a local requirement for around 10,000 sq ft of offices and a new 45,000 sq ft headquarters for Westfield Health.

New office schemes due to provide Grade A space in 2016 include the ten storey 76,000 sq ft 3 St Paul’s Place where Arup, the engineering consultant, has signed to take a 16,000 sq ft pre-let of offices on the top floors. Construction is due to commence on Scarborough Group’s next phase of Digital Campus, providing a further 128,375 sq ft of offices , along with the 65,000 sq ft redevelopment of 65,000 sq ft at Steel City House.

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Good year for Sheffield

A recent report by property consultant Knight Frank has revealed office take-up of 270,000 sq ft in Sheffield in 2014, compared to 235,000 sq ft in 2013.

The report highlights recent deals such as health technology company Servelec taking 20,700 sq ft at The Straddle building, Westfield Health taking 40,000 sq ft at Milton House and the establishment of a European HQ and contact centre for health assessments by Instant offices into 11,000 sq ft at Northbank.

In addition, it features PwC’s relocation into 7,000 sq ft at No. 1 St Paul’s Place; XLN Communications’ move into 14,500 sq ft at Northbank and Places for People into 7,000 sq ft on the top floor of Saville House.

Metropolis reported on 25 Sheffield moves in 2014 and is tracking 12 companies looking for office space in the city and Rotherham in 2015. Many of the deals involve offices below 5,000 sq ft. Telecom, recruitment, medical and charity sectors are currently the most active. Local agents estimate that there is currently demand for about 225,000 sq ft of offices in the city.

The construction of the St Paul’s scheme remains the only major pipeline development in Sheffield due to complete in spring 2015 which will add 73,600 sq ft of grade A office stock to the City’s supply and is likely to attract some high profile moves.