Since first being formulated in early 2000, Sheffield’s Heart of the City project has overseen much commercial progress and continues to advance at great pace. The scheme was designed to help regenerate the centre of this great steel producing city and gear it towards a commercial, rather than industrial revolution.
A major part of this commercial development, was the St Pauls Place development and with work due to be completed in the very near future. The St Pauls Place website declares that it offers “11 floors of Sheffield’s best offices in the best location.”
Along with St Pauls Place, the ambitious Sheffield Digital Campus, is also nearing its completion. The £110 million commercial property development claims, with some degree of certainty, to be one of the most technologically advanced business sites in Europe. This offers over 600,000sqft of prestige commercial office space.
So is this newly available commercial office space, really creating a prosperous commercial property market in the region? Well, recently released figure certainly seem to suggest so. Knight Frank’s Sheffield Activity Report is indicating, that it expects 80,000sqft of office space to be taken within the first six months of 2011. The report also declared, that Sheffield is one of only three UK regions that saw commercial property rents climb during last year.
These new developments also seem to be having a knock on effect on the refurbished commercial property sector. Many of the areas surrounding Sheffield’s development zone, are prospering and recording record levels of occupation.
With this in mind, this redevelopment along with others, such as the Sheffield Midland station, the iconic Crucible Theatre and the ongoing development of the Sheaf Valley. Sheffield really is a city intent on exiting the shadows of its industrial past and emerging as a hub of the North East’s commercial property market.
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