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Commercial Property

Sheffield's 3 St Paul's Place building acquired by Ekistics in 拢16m deal

The city centre office space has become part of Ekistics' €497m investment portfolio and is its first property in Sheffield

Ekistics Property Advisors LLP has acquired 3 St Paul鈥檚 Place office building in Sheffield.(Image: Ekistics Property Advisors LLP)

A prime Sheffield city centre office building 3 St Paul's Place has been acquired by European real estate investor Ekistics Property Advisors.

The nine-storey property, which is home to a number of high profile businesses, has become part of Ekistics' €497m investment portfolio. Apart from half a floor, the Grade A building is fully let with occupiers including BDP, Arup, Handelsbanken, Freeths, Ansys 海角视频 and TES Global.

The 76,460 sqft property offers office suites between 1,650 sqft and 4,878 sqft and is certified BREEAM excellent. Ekistics £16m acquisition from M&G Real Estate is part of a wider 海角视频 investment strategy for the London and Vilnius-based investor

St Paul's Place sits near the landmark Heart of the City development in Sheffield City Centre - a £470m project across seven hectares of land which hopes to create 7,000 jobs and £3.7bn of economic activity by 2030. The mixed use development is intended to bring 500,000 sqft of workspace to the city, along with 420 homes, 250,000 sqft of shopping and leisure space and 30,000 sqft of cultural space.

Ekistics works with advisor Till AM to look for best in class buildings across the 海角视频. The purchase of 3 St Paul’s Place represents its first investment in Sheffield.

Liam MacCarthy, director at Till AM, said: "As one of the best buildings in Sheffield with a strong tenant line-up, 3 St Paul’s Place stood out as an excellent investment opportunity. We will be looking to make further upgrades to the building in due course."

Developers CTP and U+I, formerly Development Securities, completed 3 St Paul's Place in 2016. The building was designed by Manchester-based Hodder and Partners. Andrew Meikle at Cushman & Wakefield acted for the vendor.