Nine-storey office building acquired as part of UK-wide investment strategy

Ekistics Property Advisors LLP (Ekistics) has acquired the 76,460 sq ft 3 St Paul’s Place office building in Sheffield from M&G Real Estate for £16.8m.

Ekistics was advised by Till AM and Cushman & Wakefield acted for M&G.

3 St Paul’s Place is a nine-storey, Grade A office building adjacent to the “Heart of the City” regeneration development in Sheffield city centre.

Aside from half a floor, the building is fully let to a number of occupiers including Handelsbanken, BDP, Arup, Freeths, TES Global and Ansys UK Ltd.

The acquisition forms part of a wider UK investment strategy for Ekistics, which already has a European investment portfolio of some 497m euros.

The investor works with advisor Till AM to seek best in class buildings across the UK and the purchase of 3 St Paul’s Place represents its first investment in Sheffield.

Liam MacCarthy, director at Till AM, said: “As one of the best buildings in Sheffield with a strong tenant line-up, 3 St Paul’s Place stood out as an excellent investment opportunity.

“We will be looking to make further upgrades to the building in due course.”

Andrew Meikle at Cushman & Wakefield acted for the vendor.