CITY GROWTH: HSBC banking complex in Sheffield sold in huge revamp plan
The giant HSBC complex in Sheffield is set to become a new city centre quarter featuring flats, offices, bars and restaurants.
Built as a secure location for the bank 44 years ago, the five connected blocks between Tenter Street and Silver Street Head are set to be opened up to the public for the first time - after one of the city’s biggest regeneration projects.
New owner RBH Properties, based in Portsmouth, hopes to cash in on the city living boom, soaring confidence in Sheffield and rival developments which are extending the city centre ‘down the hill’ towards Kelham Island and the planned £150m West Bar scheme behind Sheffield Crown Court.
The Pennine Centre, also known as Griffin House, was built between 1973 and 1975. The tallest block is 165ft and 13 storeys. RBH Properties is privately-owned and operates throughout the United Kingdom. It snapped up the site for from US-based Kennedy Wilson.
Chloe Brook, of RBH Properties, said: “We are delighted to have purchased the Pennine Centre. It is in a prime location in one of the UK’s most exciting cities. HSBC will shortly be moving out into their new office elsewhere in the city centre giving us scope to take a cluster of secure office buildings and turn them into an open and vibrant location for people to live in, work and visit.
“This is not just about updating and converting office buildings. It is about creating a new city centre quarter that will be a dynamic, exciting and interesting place to enjoy.”
Martin McKervey of Sheffield Property Association said it was a massive vote of confidence in Sheffield.
He added: “I understand this is one of the largest speculative purchases made by an outside investor for very many years. Looking at RBH’s portfolio across the UK it is clear they have a strong track record of breathing new life into prominent buildings.”
Last week The Star revealed plans for a £50m block of 364 flats, Kangaroo Works, in the Heart of the City Scheme and plans for a residential tower on the former Primark site on the corner of High Street and Castle Square.