Sports firms score seven-figure warehouse deal

A 101,337sq ft Sheffield warehouse is set for a new sporting future following a seven-figure acquisition that will support the expansion of two local businesses.

Steel City Property Holdings, a joint venture involving Puck Stop Ltd and Steelers Ice Arena Ltd, has bought the Technology Building on Terry Street at Sheffield Olympic Legacy Park.

The deal will allow ice hockey equipment specialist Puck Stop to relocate from Attercliffe Common and consolidate its operations at the site, with a larger retail store and additional warehousing space.

Sheffield Steelers will also expand its merchandise manufacturing and retail operation at the building, with the investment expected to create new jobs.

It is hoped a further local sports organisation will join the site once fit-out work is completed next year.

Richard Day, director of Puck Stop Ltd, said: “We are incredibly proud to have secured Technology House and to be investing in the future of sport within Sheffield. 

“This move represents a major milestone for Puck Stop, giving us the space we need to expand our retail and warehousing operations, improve efficiency and create an even better experience for our customers.

“The Sheffield Olympic Legacy Park is a unique destination built around sport, health and innovation, so it is the perfect home for our next phase of growth. 

“Alongside the Sheffield Steelers, we are committed to bringing this building back into productive use and creating opportunities for other sports organisations to be part of the site.

“We are particularly excited that the development will enable us to create one of Europe’s largest Bauer mono-brand hockey stores, strengthening Sheffield’s position as a leading centre for ice hockey and sport in the UK. 

“This investment demonstrates our confidence in the city and our ambition to continue growing for many years to come.”

The Technology Building stands alongside Sheffield Arena and close to Ice Sheffield and the English Institute of Sport, adding to the concentration of sporting facilities at the Olympic Legacy Park.

MD Law commercial property partner Travis Wood advised Steel City Property Holdings on the acquisition, while SMH Group’s James Furniss and Mark Bardwell provided funding and tax advice.

Travis added: “This acquisition sees a major investment by two well known sporting organisations in Sheffield into the Olympic Legacy Park and brings another building back into use for sports related activities.”

Mark added: “Having worked with Tony and Richard individually over a number of years, it was fantastic to have the opportunity to be involved in such an exciting new venture for both businesses.

“They have both played significant roles within the ice hockey community for many years, so to see them come together on a project of this scale, which will help support the continued growth of the sport in Sheffield, is something we were delighted to be part of.

“It is a significant investment for both businesses and a great example of ambitious local business owners continuing to invest in Sheffield and the wider region.”

Lloyds Bank also advised on the transaction, with CBRE acting for the vendor.

James added: “Deals like this do not come around very often and, when it involves a sport I have followed since I was young, it makes it particularly exciting to be involved.

“Working closely with Guv Sehmi and the team at Lloyds Bank, we were able to understand what Tony and Richard wanted to achieve and structure a funding package that worked for both parties and supported their longer term plans for the site.

“Transactions of this size involve a number of moving parts, so having the accountants, commercial finance advisers, legal team and lender all working closely together was extremely important in getting the deal completed.

“It is a major investment in two successful Sheffield businesses, but also in the future of the city’s sporting infrastructure.”

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