HSBC named anchor tenant of Sheffield’s £480m Retail Quarter

HSBC has been confirmed as the first anchor tenant of Sheffield’s £480m retail quarter scheme.

The bank has taken out a 15-year lease on the building, which will feature 140,000 sq ft of office space and a rooftop terrace.

Construction is set to get under way in quarter one next year, with completion due in Spring 2019.

Located between Wellington Street, Cambridge Street, Charter Row and Furnival Gate, the office block has been designed to complement the existing cluster of new offices in the city centre.

Demolition of the derelict Grosvenor House Hotel has already started.

In May of this year, it was announced that HSBC was set to make 595 job cuts in Sheffield and Tankersley, and 30 in Leeds. These job cuts are part of a cost reduction strategy that are being planned for the end of 2017, which could affect up to 8,000 UK jobs.

John Hackett, COO of HSBC UK said: “Sheffield is a major centre of excellence for our IT operations and we’re delighted to be confirmed as the first anchor tenant for the historic Sheffield Retail Quarter.

“The multi-million pound investment we’re making in our new home in Sheffield will allow us to provide our colleagues with a modern office environment right in the heart of the city.”

Councillor Leigh Bramall, deputy leader of Sheffield City Council, added: “Sheffield Retail Quarter is now becoming a reality and we are delighted that we can begin to deliver our vision for a compelling mix of retail, leisure and business which meets the needs of our city now and in the future.

“Having a major international company like HSBC on board gives the core of our city centre, and the burgeoning business and financial services cluster located there, a great boost.

“HSBC is one of the largest businesses in Sheffield and its new location in the retail quarter will enable it to invest in a modern office space for employees with high quality shops, cafes and public spaces on their doorstep.

“Sheffield is a great place to both live and work and more and more businesses are recognising that it’s the right place to attract excellent staff.”