Sheffield city centre office development benefits from seven-figure refurbishment

Six floors of open plan office space in central Sheffield is undergoing total refurbishment after new owners GPF (NOH) Ltd invested up to £1m in the prominent site.

New Oxford House on Barkers Pool has been bought for an undisclosed sum by joint venture GPF NOH Ltd as an equity investment purchase from Nationwide Building Society, who will continue to lease the ground floor along with health and wellbeing store Holland & Barrett.

The quality open plan office accommodation above the retail space, totalling more than 21,000 sq ft, is available to rent, after previous occupiers Nationwide and Arup, relocated.

Wake Smith Solicitors acted for GPF (NOH) Ltd on the purchase with corporate director Rebecca Robinson dealing with the equity investment details while commercial property director Neil Salter handled the building acquisition.

GPF (NOH) Ltd director Jonathan Vardy commented: “This is a fantastic location and we believe a quality office refurbishment scheme will fill a gap in the market for this type of space. We are also keen to secure an exciting retail occupier for the vacant part of the ground floor.”

Neil Salter, director in the commercial property team at Wake Smith, added: “It’s fair to say that there were a number of challenges in achieving exchange and completion, but we believe that we worked well with GPF and Nationwide’s solicitors to get to where we needed to be: the location of the property is remarkable.”

The refurbished offices, being marketed by Tim Bottrill at Colloco, are available on a floor by floor basis or a whole, and benefit from a city centre location, internal kitchens, double glazing, and toilets located in the central core of the building.

Additionally, New Oxford House will receive a new fully glazed office entrance and refurbished reception area. The building is also linked to the District Heating Network offering a green and cost effective method of heating offices.

Tim Bottrill concluded: “The refurbishment started immediately following the acquisition and the space will provide modern, contemporary office space in arguably, one of the most exciting locations in Sheffield City Centre.

“The space is able to accommodate a range of businesses, offering suites from 1000 sq ft up to the full floors of 3600 sq ft, or multiple floors and we have already agreed terms with a well known financial services company, who will be moving into the first floor in August.”

By Matthew Neville – Senior Correspondent, Bdaily

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