BT Group is to take the final speculative office build at Sheffield Digital Campus.
The 65,000 sq ft building, Endeavour, is being delivered by GMI Construction Group for developer Scarborough Group International. Work began in June last year, with practical completion scheduled for early 2023.
BT is anticipated to take occupation later in the year. It marks the completion of 15 years of development and the creation of around 243,000 sq. ft of business space, home to major household names including Sky, IBM, Kennedys and Atkins, supporting up to 2,500 skilled jobs.
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Brent Matthews, BT Group property director, said: “Despite the economic challenges and changes to working patterns caused by the pandemic, we think this is an important investment and it secures our presence in Sheffield and Yorkshire.
“Endeavour provides us with the perfect location in the heart of the city and surrounded by the renowned digital campus, which reflects the growth, creativity and ingenuity which are core to BT’s work.”
The company has signed a 15 year-lease on the building to create an office hub for around 1,000 people. It is understood to be the largest city centre letting since 2016. The development overlooks the A61 ring road, between the station and interchange by Sheffield Hallam University.
Adam Varley, Development Director at SGI, said: “The way we work has evolved significantly in recent years and the leasing success we’ve achieved at Sheffield Digital Campus, despite the challenges impacting both the construction sector and the evolution around the use and future of ‘the office’, is testament to the quality of the workspace and the environments we continue to create as a Group.
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“BT Group’s letting is not only significant because it represents the largest single office letting in Sheffield for six years, it is also a long-term commitment to the city and a major vote of confidence for the regional economy, sending a strong message to any other businesses looking to locate in Sheffield that the city has strong credentials as a place to invest, recruit and grow.”
Designed by CJCT architects, Endeavour features a double-height reception, seven highly efficient and flexible floorplates of up to 10,323 sq ft each, 4,844 sq ft of ground floor amenity space, club-class changing and shower facilities to promote active-travel, and a rooftop terrace offering panoramic skyline views. It is rated Grade A BREEAM Excellent.
Andrew Hurcomb, GMI Construction Group’s divisional managing director, Yorkshire, said: “The letting of Endeavour marks a significant moment as we move towards completion, not only of this building but of the Sheffield Digital City complex, and is an example of what can be achieved through our long-term and trusted partnership with SGI.
“GMI is proud to be at the forefront of delivering one of the city’s most iconic office schemes, in a prime business location, and one that will do much to stimulate economic growth within the city region.”
Endeavour has been funded via a joint venture agreement between SGI and Metro Holdings of Singapore, supported by a £4 million mezzanine loan from the SCR Jessica Fund alongside a £10 million senior loan from The South Yorkshire Pension Fund, both of which are managed by CBRE Capital Advisors.
The announcement follows hot on the heels of SGI’s 133,117 sq ft pre-let – also built by GFMI Construction – at Thorpe Park Leeds in February 2021 involving credit management company, Lowell, which represents the largest single out of town office deal ever recorded in West Yorkshire and the biggest property transaction in the Northern Powerhouse region over the preceding 12 months.
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