Development to keep Heart project beating

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SHEFFIELD’s economy is set to receive a significant boost from a new speculative office building.

Bowmer & Kirkland has been selected as the main contractor for 3 St Paul’s Place in Sheffield.

The 10-storey development, the final part of the £130m Heart of the City project, is one of the first speculative office buildings in Sheffield to be developed since the recession.

David Topham, director of developers CTP, said: “We are delighted to be working with Bowmer & Kirkland again. They have a proven track record of completing projects on time and within budget.”

CTP are developing 3 St Paul’s Place in conjunction with Development Securities, supported by Sheffield City Council, regeneration agency Creative Sheffield, SCR JESSICA, which was set up to support infrastructure and real estate investment opportunities across the region, and the European Regional Development Fund.

Mr Topham added: “3 St Paul’s Place is the final piece in the jigsaw in the tremendously successful Heart of the City project. Of course, there is an element of risk in any speculative development, but we are extremely confident that its quality, combined with its location, will ensure that occupiers for the building are swiftly found.”

Andrew Antoniades, director of CBRE Capital Advisors, the SCR JESSICA fund’s investment adviser, added:

“The SCR JESSICA Fund was established to underpin the region’s long-term growth and stability through an innovative mix of public and private funding.”