Property investment company Millington Estates Limited has purchased Abbey House, a landmark building in Sheffield’s city centre, for just over £1.8million.
The mixed use Leopold Street property comprises popular bar and restaurant All Bar One and 11,129 sq ft of office space.
The Sheffield office of hlw Keeble Hawson, one of Yorkshire’s largest law firms, which also has offices in Leeds and Doncaster, represented Chesterfield-based Millington Estates in the transaction.
Partner Richard Smith said:
“This deal marks a positive start to the year for the Sheffield commercial property market and is consistent with the increased activity we’ve seen over the last six months.
“Prime sites like this are tempting buyers who have ready access to funds.”
Roger Haworth, partner at Sheffield property consultancy Commercial Property Partners LLP, who negotiated the purchase for Millington Estates, commented:
“After a period of inactivity, the demand for office space in prime city centre locations such as Leopold Street is improving due to a lack of available space and we are seeing renewed buyer confidence.
“With only one office suite of 2,200 sq ft remaining we are confident this will be leased very quickly.
“Properties like Abbey House in core locations are increasingly sought after and we are grateful to Richard and his team for getting the deal over the line swiftly and effectively for the start of the year.”