Construction on the first speculative office development in South West Sheffield in ten years has begun.
Developer AG Property (UK) Ltd has started work on a 14,000 sq ft four-storey office building at the established Broadfields Business Park on Little London Road in Sheffield.
Due for completion in June this year, the project signifies a confidence in the Sheffield office market to speculatively build according to Ben White from Knight Frank with interest already strong.
Ben said: “There is a significant shortfall in high quality, flexible office stock in Sheffield and this project is one of the signs that developers are starting to address this.
“The premises, which are being built to the highest specification, are located on Broadfields Business Park but uniquely benefit from their own private access and egress straight onto Little London Road, offering faster onward connectivity to both Abbeydale Road and Chesterfield Road, two main arterial routes.
“There are also good public transport links to Sheffield city centre and out to the South West suburbs. We have seen strong interest from occupiers already.”
Glenn Day, co-owner with wife Anita Day of Sheffield-based AG Property (UK) Ltd, which developed Omega Court in Sheffield three years ago, said: “We know that there is demand for quality office stock in Sheffield, driving new business and growth to the area, and that the yield on speculative development makes it a worthwhile venture at this time.
“Broadfields already provides a key source of office based employment for South-West Sheffield, and it is clear that further development here will offer great social and economic benefits for local people and the area.
“There is already a strong mix of tenants on-site and what makes this park popular is its location – on the edge of the city, but close enough to the city centre – and available parking.”
The development, available at a rent of £13.50 per sq ft per annum, will feature floor plates of 3,552 sq ft per storey with carpeted floors, suspended ceilings with LED lighting, air conditioning, toilet, kitchenette and shower facilities, full DDA lift access and 30 on-site car parking spaces.
Broadfields Business Park is already home to a number of well-known occupiers including St John Ambulance, Medigold, Synectics Plc, My Fathers Heart, Virgin Active Gym and The Hardy Pick pub.
Knight Frank is joint agents with Charles Duncan of Mark Jenkinson & Son on the project.