A MAJOR Yorkshire landmark building has new owners.
Canada Life has acquired 1 St Paul’s Place in Sheffield for £23.96m in one of the largest investment deals to be undertaken in Yorkshire over the past 12 months.
Real estate services firm DTZ acted for Canada Life on the acquisition of the property from UK fund manager Standard Life Investments, who were advised by Savills.
The property, built in 2005, provides more than 88,000sq ft of commercial accommodation on seven floors. The ground floor is multi-let to Cafe Rouge, Cafe Nero and Piccolinos with the upper office floors let on a single lease to DLA Piper UK LLP. Barclays and RBS sub-let part of the second and the first floors respectively.
James Lawlor, senior surveyor in DTZ’s Investment team in Leeds, said: “We are delighted to have advised Canada Life on this acquisition. The quality of the location, property, tenant line-up and surrounding public realm sets this asset apart from the rest of the Sheffield office market.”