Major commercial complex in heart of Sheffield on sale for £41m

The Hartshead Square complex in Sheffield city centre
The Hartshead Square complex in Sheffield city centre
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A huge commercial complex in Sheffield city centre has gone on the market for £41 million.

Hartshead Square, near the Castle Square tram stop, is home to businesses including Argos and car parking giant NCP as well as government offices.

The mixed-use development, which covers almost 300,000 square feet and is fully let, is being sold by Greenridge Investment Management.

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Greenridge director Bik Bhuptani said: "With NCP recently secured on a long-term lease, The Secretary of State openly stating that they wish to remain at the property and significant on-going investment and development into Sheffield, this is an asset that still has huge potential for growth.

"An acquisition at this level, based on indicative debt terms, would produce an attractive cash on cash return in excess of 10 per cent per year."

Greenridge added that the area was on the up, with a hotel, more homes and a new tech hub being created in the immediate vicinity.

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The company is being advised by Knight Frank, whose director Rebecca Farnsworth added: "In a market short of opportunities, Hartshead Square presents an attractive Sharia-compliant investment with exceptionally secure income, the majority of which benefits from RPI-linked increases. Sheffield is an exciting and evolving city to invest in."