HSBC makes multi-million pound investment in new Sheffield Retail Quarter office

HSBC makes multi-million pound investment in new Sheffield Retail Quarter office

06 September 2016

This is the new-look for the first phase of Sheffield’s long-awaited retail quarter – an artist’s impression of HSBC’s new office after the banking giant was confirmed as the first anchor tenant of the £480m scheme.

The announcement comes just days after the city’s planning committee endorsed Sheffield City Council’s plans for Sheffield Retail Quarter.

HSBC has taken out a 15-year lease on the building, which will incorporate 140,000 square feet of office space and a rooftop terrace. Construction is set to get under way in Q1 next year, with completion due in Spring 2019.

The premium office block will be located between Wellington Street, Cambridge Street, Charter Row and Furnival Gate and has been carefully designed to complement the existing cluster of new offices in the city centre, whilst working with the existing street layout and different levels. Demolition of the derelict Grosvenor House Hotel has already started.

New shops, restaurants, cafes and bars, along with landscaped public spaces, will help Sheffield Retail Quarter to become one of Sheffield’s most sought-after places to work and encourage thousands of people into the heart of the district.

John Hackett, COO of HSBC UK said: “Sheffield is a major centre of excellence for our IT operations and we’re delighted to be confirmed as the first anchor tenant for the historic Sheffield Retail Quarter. The multi-million pound investment we’re making in our new home in Sheffield will allow us to provide our colleagues with a modern office environment right in the heart of the city.”

Councillor Leigh Bramall, deputy leader of Sheffield City Council, said: “Sheffield Retail Quarter is now becoming a reality and we are delighted that we can begin to deliver our vision for a compelling mix of retail, leisure and business which meets the needs of our city now and in the future.

“Having a major international company like HSBC on board gives the core of our city centre, and the burgeoning business and financial services cluster located there, a great boost. HSBC is one of the largest businesses in Sheffield and its new location in the retail quarter will enable it to invest in a modern office space for employees with high quality shops, cafes and public spaces on their doorstep. Sheffield is a great place to both live and work and more and more businesses are recognising that it’s the right place to attract excellent staff.”

For other key developments like this one in Sheffield please visit our recent developments page.