Sheffield sees largest office sale in a year

SHEFFIELD has seen its largest office deal in 12 months after a landmark  80,000 sq ft site was sold for an undisclosed sum.

The Sheffield office of Knight Frank brokered a deal on behalf of GE to sell Milton House, an eight storey flagship office building, located on the city’s Charter Row, adjacent to the rapidly developing Moor retail complex.

Milton House has been bought by health insurance company Westfield Health with plans to locate its operations in to more than half of the building and further develop the property to let the remaining approx 35,000 sq ft.

Peter Whiteley, partner at Knight Frank, said: “Milton House was formerly home to the Inland Revenue and was redeveloped to grade A specification by Development Securities in the 1990s. It is now facing a new future with a further plan for refurbishment and development of suites ranging from 1,500 to 35,000 sq ft.

“The property was purchased with vacant possession and is located on Charter Row, close to some of the city’s highest levels of investment as The Moor redevelopment takes shape, and immediately adjacent to the planned Retail Quarter.

“Milton House is a striking property and benefits from a double height reception, three full-speed passenger lifts, good access to car parking and a cycle park, intelligent lighting, flexible open-plan floorplates with raised access flooring and newly installed air conditioning.

“The redevelopment of the property’s remaining 35,000 sq ft comes at an interesting time as we see healthy demand for city centre offices at sites such as The Balance on Trippet Lane, Saville House on Savile Street, The Straddle at Canal Basin and at Northbank.”

Milton House is situated inside the ring road and within walking distance of Sheffield’s retail districts at The Moor, Fargate and Division Street, with good public transport links minutes away.

Knight Frank will market the remaining 35,000 sq ft in collaboration with Mark Jenkinson & sons