SHEFFIELD’S people are it greatest asset, according to the office agency team at CB Richard Ellis.
In preparation for their recent appointment to the team at Carillion’s The Square development in Sheffield, the team conducted a thorough analysis of the city’s strengths and Director of Office Agency Jonathan Shires said: “As England’s fourth largest city and with a population of over 500,000 people, it’s no surprise that Sheffield is considered to be the fastest growing city outside London for office and residential space.
“The city is home to some of the north’s finest office developments such as The Square and with office occupancy costs coming in at around 40% lower than London and 20% lower than Leeds, it is clear why Sheffield has already attracted companies such as HSBC, Abbey, Irwin Mitchell and Royal Mail all of whom have strategic functions operating from offices within the city.
“Additionally, many contact centres and back office processing operations are housed in Sheffield for major organisations such as Capita, Carillion, BT and Virgin Media.
“CBRE’s research team commissioned a regional cities report which took into consideration such factors as labour availability, educational institutions, labour costs and general demographics and the outcome was that Sheffield ranked No 3 closely following Glasgow and Leeds.
“One of the main reasons for this high ranking was the accessible workforce of over 900,000 people within commuting distance of The Square development and also the circa 50,000 graduates generated from the city’s universities each year.
“Factors such as these are key criteria for organisations who may be looking to establish operations within the city and while there is likely to be a fall-out following the central Government cuts, this presents an excellent opportunity for the private sector to take advantage of Sheffield’s skilled workforce.
“The nationwide office market has roughed some challenging times of late but as we move ahead with optimism for returning enquiries and activity in the sector, it is cities such as Sheffield who are well positioned to succeed in attracting occupiers as all the necessary components of strong demographics and excellent office space and development opportunities are all in place.”
lPictured above at The Square are (back, left-right) Nick Smout (Carillion) and David Crossland (COH) (front) Jonathan Shires (CBRE) and Neil McMillan (Carillion)