Sheffield city centre office building transformed into £4.2m apartment complex

A former office building in Sheffield city centre has been transformed into 32 high-end apartments by Building Company Ventures with support from Lloyds Bank Commercial Banking.

The new residential scheme on Queen Street include 24 one-bed apartments and eight two-bed apartments with completion expected at the end of December.

Building Company Ventures has invested £800k into the redevelopment of the Omnia One building which will have an end value of £4.2m, with Lloyds Bank Commercial Banking backing the project with a development loan worth £820k.

The Omnia One building has been owned by Building Company Ventures since 2004, and was operated as serviced offices until redevelopment works began in April this year.

Sebastian Brown, director at Building Company Ventures, said: “There’s a strong demand for residential property in Sheffield at the moment, and the new apartments are in a great location.

“This is our largest redevelopment to date, and the support we’ve had from Lloyds Bank has been important in helping us achieve this.

“The bank was keen to get involved from the outset, and helped us getting started with the project straight away.”

Lloyds Bank supported Building Company Ventures when the firm acquired the Omnia building 12 years ago, with a finance package worth £1.7m.

Danny Brooks, relationship director at Lloyds Bank Commercial Banking, added: “Being only a short walk from the city’s bars, shops and restaurants, we’re confident the new high-end flats will be a hit.

“Lloyds Bank is committed to supporting SMEs and since 2011, we have grown our net to SMEs by more than 29 per cent, building on six years of consistent lending growth.”

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