Widespread commercial devotion to the city is reflected in more than half of respondents having a Sheffield base for 20 years or longer and all those surveyed planning to remain in Sheffield following future lease renewals.

More than 100 city-based companies received the Sheffield Occupier Survey by property consultancy Knight Frank.

It offers an insight into what drivers of commerce want from the city, with new office developments seen as necessary or long overdue by almost 70% of participants and 100% recognising a need for more hotel and conferencing facilities.

Tim Bottrill, partner at the Sheffield office of Knight Frank, said: "To see that there is healthy demand for new office space, hotel and conferencing facilities is an excellent indicator to us that commercial interests within the city are objectively focused on stability and future growth."

New office developments are widely applauded, with Blonk Street, adjacent to the Wicker, emerging as the most favoured location, closely followed by nearby Riverside Exchange, with Wards Exchange off Ecclesall Road and Velocity following. The survey showed that 48% of businesses polled had an interest in moving to a new scheme in the city, while only 14% found the new build rental rates to be prohibitive.

Mr Bottrill added: "One of the most encouraging findings of the survey is that nearly 50% of Sheffield respondents expect their business to require more staff, with an additional 40% expecting to remain stable. This provides a positive signal to the fortunes of the Sheffield office market and its future growth.

"The survey also highlights that proximity to clients and competitors is cited as a key reason for city businesses staying put, another good indicator that trade in the city business region is stable. This is backed by strong results for skilled labour availability and good value accommodation.

"Sheffield has changed dramatically during the last ten years and we are now witnessing complete swathes of development along inner city roads such as Arundel Gate, which offers 38,000 sq ft of stunning Grade A accommodation at Oneleven, and another 40,000 sq ft of Grade A office space which will come to market through the proposed redevelopment of the former Post Office site at Fitzalan Square, among its projects.

"On Trippet Lane there are several attractive period developments including Walsh Court, which provides open plan accommodation through newly refurbished office suites covering 26, 012 sq ft, with flexible floorplans.

Another Walsh building in Bells Square, on the lower side of Trippet Lane, has received a high-class makeover featuring a unique and striking self-contained courtyard and 2,680 sq ft of open plan accommodation.

"It is this calibre and diversity of accommodation that makes Sheffield a niche environment both for settled businesses and those looking to locate here."

Skilled labour and good value office accommodation were rated as the principle draw for businesses looking to locate to Sheffield, with high quality of accommodation, a thriving business environment and good infrastructure also likely to draw new companies into the city.

Demand for retail and leisure accommodation is also high among those polled. Andy Topley, director of regeneration at city development company Creative Sheffield, said: "Securing strong business has always been key to the success of Sheffield's development.

"The work to regenerate the city over the past ten years has created a superb infrastructure for businesses to locate to. Sheffield now boasts some top class office space and the Knight Frank report demonstrates that there is a healthy commercial demand for the city to continue its evolution, despite the uncertain economic climate."

The research, conducted in June, took findings from companies employing about 1,500 staff collectively, occupying 2m sq ft in total – with 75% of those surveyed located in the city centre.