HSBC to make multi-million pound investment in Sheffield

Banking giant HSBC has committed to a multi-million pound investment in Sheffield.
HSBC - New Sheffield premisesHSBC - New Sheffield premises
HSBC - New Sheffield premises

As Sheffield City Council unveiled its long-awaited retail quarter, the bank announced it would become its anchor tenant, taking 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 early next year, with completion due in Spring 2019.

The announcement comes just days after the city’s planning committee endorsed Sheffield City Council’s plans for £480m Sheffield Retail Quarter.

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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 now derelict Grosvenor House Hotel has already started.

New shops, restaurants, cafes and bars, along with landscaped public spaces, are all planned for the area.

John Hackett, chief operating officer 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.

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“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.”

The move comes after the bank announced back in May that it as to axe more than 600 jobs in Yorkshire, with the vast majority of these coming from IT work in Sheffield being outsourced.