Sheffield must meet the challenge of developing more top quality office space if it is to meet the challenge of landing mobile investment projects and repeat the success it achieved with global satellite TV giant SKY.
So says David Fletcher, director of business investment for economic development agency Creativesheffield.
Mr Fletcher was speaking in the wake of the publication of a report by property consultant Knight Frank.
According to the report a new record was set for office rents in Sheffield last year as the city became one of only three key regional property markets where headline office rents rose.
Knight Frank also forecast that more than 80,000 sq ft of quality office space could be taken up in Sheffield city centre in the first six months of this year alone and warned Sheffield could face a shortage of quality office space in a year to 18 months time, following a 20 per cent reduction in the supply of Grade A office space as a result of the lack of development during the recession.
David Fletcher says Creativesheffield’s experience backs up Knight Frank’s research.
“We are generally seeing demand for the prime Grade A office space in the city centre, where occupiers can enjoy the benefits of the amenities, transport connectivity and outstanding public realm.
“Our challenge as a city is to ensure that we have such high quality office space available for mobile investment projects, such as the recently announced Sky centre, which is moving into Ventana House.”