Developer's investment plan spurred by market demand

DEVELOPER Velocity Estates is investing £400,000 in refurbishing commercial office space in Sheffield by rolling out its business centre brand across its portfolio.

The company has already piloted the idea for smaller business units in its Velocity House development, at Velocity Village, and it now plans to extend the idea to 500,000 sq ft of office space across its other buildings in the city.

It said the move is in response to market demand for smaller offices.

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Work is already under way at the 11-storey St James House building within the city's Cathedral Quarter and at the Grade II listed Globe Works Business Centre, on Penistone Road, which will be home to 30 office suites accommodating between one and 30 people.

The next developments to be refurbished are the Parkway-linked six-storey Globe 11 Business Centre, Townhead House, on Vicar Lane, and St Silas House, on Moore Street.

The money will be invested into new reception and greeting areas, meeting rooms, visitor facilities, car parks and individual office upgrades all in the same contemporary style of Velocity House, which fronts on to Tenter Street in the city centre.

Lee Smith, director of Velocity Estates, said: "We have received excellent feedback from all of our new tenants at Velocity House on the high quality of facilities on offer and this has now set the benchmark for our commercial stock across the city."

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Velocity Estates also has 433 one- and two-bedroom apartments and a number of penthouses within Velocity Village and a further 160 one- and two-bedroom apartments at the 22-storey Velocity Tower scheme, on Ecclesall Road.

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