Investors get a city foothold

PROPERTY investors from across the country are snapping up quality buildings as the city continues its regeneration programme at speed, claims Knight Frank.
By The Newsroom
Published 13th Aug 2007, 10:29 BST
Updated 28th Aug 2007, 13:39 BST

The commercial property specialist cites the sale of St Mary’s Court on St Mary’s Road just off the inner ring road and within the South West central business district, as evidence.

The 15,223 sq ft building, which was built in 1991 and refurbished in 2002 before being let to current tenant Tribal Technology, was sold for the full asking price of 3 million to Warwick-based IM Properties within a month of going on the market.

Hide Ad
Hide Ad

Knight Frank acted for Commercial Development Projects on the sale of the office investment and Atisreal represented IM Properties.

“The property is situated within an area seeing a large amount of commercial property development. There are a number of mixed use, office and residential schemes currently under construction nearby," said Knight Frank investment specialist James Bruce.

“The purchasers acted quickly to secure St Mary’s Court. They wanted to gain a foothold in the city to take advantage of the ongoing regeneration of the area and this quality building with an established tenant ticked all the boxes for them. It is good to see outside investors buying into the Sheffield story.”

Related topics:InvestorsWarwick