Knight Frank, acting on behalf of GE, has brokered the sale of Milton House to Westfield Health, in Sheffield’s biggest office deal of the year, the Business Desk reports.
The eight-storey property, located on Charter Row was once the home of the Inland Revenue and was redeveloped to Grade A standard in the 1990s.
The health insurance company will take occupancy of over half of the 80,000 sq ft building, while the remaining 35,000 sq ft is to be let. The amount paid is unknown.
Peter Whiteley, of Knight Frank, said that a further refurbishment is planned which will deliver new office suites ranging from 1,500 to 35,000 sq ft.
“The property was purchased with vacant possession and is located on Charter Row, close to some of the city’s highest levels of investment as The Moor redevelopment takes shape, and immediately adjacent to the planned Retail Quarter,” Whiteley continued.
“The redevelopment of the property’s remaining 35,000 sq ft comes at an interesting time as we see healthy demand for city centre offices at sites such as The Balance on Trippet Lane, Saville House on Savile Street, The Straddle at Canal Basin and at Northbank”.
Knight Frank will be marketing the redeveloped 35,000 sq ft in collaboration with Mark Jenkinson & Sons.
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