A Clever Spell

With dwindling property values becoming a nightmare for the Sheffield commercial real estate market due to recession, a much needed impetus came from the education sector with Sheffield Hallam University acquiring a huge property in Arundel Gate recently. In a major deal for more than four million pounds, the university took possession of 38,000 square feet space at the seven storied building on Arundel Gate.

Lambert Smith Hampton (LSH), the UK and Ireland’s largest commercial property consultancy firm handled the proceedings of the transaction, which is being touted as the most ambitious property deal in Sheffield in 2009.

Sheffield Hallam University, which is one of the UK’s most progressive and innovative universities, plans to set up its administrative office in the acquired property. The university’s City Campus, which is in the city centre, adjacent to Sheffield railway station might also be shifted to a brand new or a revamped property. These strategies will make way for a lot of free space in the existing buildings exclusively for academic purposes.

The Arundel Gate property, close to Castle Square was a perfect choice for the revered education institution because of its prime location in Sheffield city centre. Easy connectivity, a spacious office area that would support the dynamic expansion plans in future and a posh neighbourhood facilitating the day-to-day office functions are added attractions. For info on other office space and desk space rental in this area, click Desk Space Genie.

Talking about the institution’s impressive standing, Alex Pettifer, Director of Estates and Facilities at Sheffield Hallam University said that the university boasts of 30,000 students pursuing varied courses, four thousand employees including teaching and non-teaching staff, and an annual turnover of over £150 million.

The university provides state-of-the art facilities for the students and has invested more than 100 million pounds over the last 10 years to constantly upgrade and remain abreast with changing times. Their future expansion plan entails an investment outlay of 50 million pounds by 2010.

Currently Oneleven Arundel Gate is owned by London-based investment and property development firm, Simonsig Properties.