Sheffield’s Acero building snapped up for £26.6m
Real estate asset and investment manager, APAM, has acquired Acero in Sheffield for £26.6m on behalf of its client, Britannia Invest A/S.
Acero, developed by Scarborough International Properties Limited (SIPL), the UK and international real estate developer and its joint venture partner Metro Holdings of Singapore (Metro), forms part of the popular Sheffield Digital Campus, situated on Concourse Way.
Totalling over 80,000 sq ft across six floors, the building was completed in July 2017 and comprises a combination of large, open plan and flexible floorplates of up to 15,000 sq ft. The Grade A property also provides a triple-height reception, 62-space car park, secure cycle parking and high-quality shower facilities.
The property is currently multi-let to three tenants, co-working provider Spaces, Atkins and Simcyp, who combined have taken over 47,000 sq ft since completion last year.
Chris Taylor, director at APAM, said: “Thanks to its connectivity, high-quality design and adaptable office space, suitable for a wide range of businesses, Acero is in our opinion the best office building in Sheffield.W
Tim Cameron-Jones, Cushman & Wakefield said: “Having acquired the first building in this innovative development for the City Council, I have watched with great interest as Scarborough deliver further successful phases of development. I am delighted to have advised Britannia Invest A/S and APAM on the acquisition of what is the best-in-class in Sheffield.”
Simon McCabe, Joint Chief Executive of Scarborough International Properties, said: “This sale marks the completion of a project which began as a speculative development opportunity that the team has taken through construction, leasing and ultimately onward sale to an investor. Acero is widely considered to be one of the highest-specification offices in the region. We will now be looking to bring forward the final phase of Digital campus.”
Cushman & Wakefield acted on behalf of APAM. Knight Frank and Lambert Smith Hampton acted on behalf of Scarborough.
