Thursday, 21st April 2016
3 St Paul’s Place, the final part of the pioneering £130 million Heart of the City project and the first speculative office building in Sheffield to be developed since the recession, has been officially launched.
More than 100 property professionals, including representatives of all the firms involved in the project, attended a special lunchtime launch party on the 7th floor of the building.
David Topham, director of Manchester-based developers CTP, who have masterminded the development, said that 3 St Paul’s Place “was now open for business”.
“It is very satisfying to witness the completion of such an important development in the heart of Sheffield, especially since it was launched in the middle of a recession. We owe so much to everyone who has contributed to this tremendous success story.”
The 10-storey, state-of-the-art office development, which comprises 78,000 sq. ft. of prime Grade A office space with each 8,000 sq. ft. floor offering offices suites from 2,000 sq. ft, is now ready for immediate occupation. Headline rents are £23.50 per sq for a full floor.
The construction of 3 St Paul’s Place, which is rated as BREEAM excellent, went ahead following a landmark agreement between developers CTP and U+I (formerly Development Securities) with Sheffield City Council and the Department for Communities and Local Government. It was built by Bowmer and Kirkland.
David Topham commented: “These were all key players in the development, whose support throughout has been invaluable. This was a genuine team effort, with everyone working towards the same goal.
“These are now exciting times for St Paul’s Place, which is an established high-quality office location in the heart of Sheffield. The building marks the revival of confidence in Sheffield city centre, and Arup, our first occupiers, are moving in next month (May)”.
“I am delighted to report that there is now huge interest in the building. The building itself is the most modern – and the greenest – in Sheffield. It is the final important piece in the jigsaw of the Heart of the City initiative, which has transformed the city centre into one of the finest in the North of England,” he added.
Arup, the global engineering consultancy, has taken 16,000 sq ft of quality office space at 3 St Paul’s Place.
Arup’s Jim Bell, remarked: “Our Sheffield office has a fantastic reputation and is an important location for the firm. Being in the heart of the city is key to our belief in vibrant cities and low-energy futures, and 3 St Paul’s Place is an ideal location and a landmark building.
“By getting in early, we have secured the top floors of the building with spectacular views across the city, and been able to negotiate exclusive additions including extra energy-efficiency measures and a roof terrace, so the deal represents exceptional value for money.”
St Paul’s Place is a high-quality mixed-use scheme which features the 161-bed St Paul’s Mercure 4* hotel; No1 and No 2 office developments occupied by lawyers DLA Piper, RBS, Barclays, accountants PwC, Coutts and the Department for Education; a 330-apartment residential tower block; the famous “Cheesegrater” car park, operated by Q-Park; a casino; and restaurants and cafes including Pizza Express, Piccolino, Caffé Nero, Bill’s Restaurant and Café Rouge.
The architects of 3 St Paul’s Place is Manchester-based Hodder and Partners.
The marketing agents for 3 St Paul’s Place are the Sheffield office of Knight Frank, together with BNP Paribas and Cushman & Wakefield.
Peter Whiteley of Knight Frank commented: “3 St Pauls Place delivers much-needed prime Grade A office space within Sheffield’s city centre core. We are very proud to be part the team on this successful development which has helped regenerate this area within the heart of the city.”
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