Blades score with office
SHEFFIELD United’s diversification into the property market has continued with the letting of a major office development in Essex.
The commercial property joint venture between Sheffield United Plc and Scarborough Property Company, has let a 16,500 sq ft building on New London Road in Chelmsford.
Essex County Council has agreed a 15-year lease, for a rent of £262,000 per year, representing £18.50 per sq ft.
The letting follows a comprehensive refurbishment of the property after securing possession of the building last September.
John Stacey, head of property at Sheffield United, said: “We are delighted to announce the successful completion of the letting to Essex County Council after a comprehensive refurbishment of this well located office building.
“This is yet another example of the pro-active approach we are taking to the strategic asset management of our extensive property investment portfolio.
“We are adding significant value to our buildings through the extensive commercial property expertise of our management team.”
The Blades have developed a number of initiatives in the property and leisure fields to provide additional revenue streams to its core football business.
Sheffield United plc is a property, services and leisure company, centred on the Championship football club.
The company has a focussed strategy of diversifying business away from activities that take place on the pitch to reduce risk and provide additional revenues to invest in players and facilities.
They include plans to develop a hotel, the management of a senior academy and enterprise centre and further expansion into China.
