Sought-After Acero Offices Reach 100% Occupancy in Record Time

April 25th, 2019

Final two deals at popular Sheffield city centre building

Catella APAM (“APAM”), the specialist UK real estate asset and investment manager, on behalf of Britannia Invest A/S (“Britannia”), has secured Egress Software Technologies and Managed Office Solutions as tenants at Acero offices in Sheffield. These latest deals take the sought-after site to 100% occupancy.

Egress Software, which was founded in Barnsley in 2007 and now operates out of multiple international offices, has agreed a five-year lease for a 7,500 sq ft Grade A suite. Following a recent announcement to grow its workforce from 90 to at least 120 people in 2019, the move represents a significant commitment to the city as Egress Software become partners of Sheffield Digital.

Managed Office Solutions (part of IWG Group) who provide fixed-terms solutions for contracts with major corporations, have secured 11,500 sq ft within the building, to provide fully operable space for a multinational banking and financial services, high street bank.

APAM acquired the prime city centre asset on behalf of Britannia in May 2018 having identified the opportunity to attract new occupiers and build on the success already seen at this development. Following improvement works to the reception including new external signage and upgrades to the basement amenities, these latest deals, which bring Acero to full occupancy, are testament to the quality of the building and its connectivity.  

Pete Owen, Senior Asset Manager at APAM, comments: “We have successfully let 40,000 sq ft in less than 12 months by engaging with tenants on incentives and fit-out requirements without comprising the investors’ return requirements.

Thanks to its high-quality design and adaptable office space, suitable for a wide range of businesses, it’s no surprise the building is now fully let and has repeatedly surpassed the record for top headline rent in Sheffield.

APAM sees this as a fantastic result with happy investors and tenants as well as leading the way in the Sheffield office market.”

Rob Darrington, Partner at CPP, said: “Acero is ideally placed within the city centre, and its focus on providing a vibrant, exciting, prestigious workplace for rapidly expanding digital businesses, such as Egress, made it an ideal new location for the firm. Forming part of the wider ‘Sheffield DC’, Acero offered them a flexible, modern, high-quality office space, which will allow them to thrive in what is now a great central hub for similar businesses in the region.”

“Tony Pepper, CEO of Egress, commented: “We are delighted to move into our new home at Acero. The innovative, open-plan office offers us the space and flexibility we need as we continue to expand our team in Sheffield and attract the best possible talent from the region.

The move to Acero also underlines our commitment to developing a technology innovation hub in Sheffield, something that is very important to the senior team here at Egress. There is enormous potential in this region to create exciting and innovative technology opportunities that capitalise on the considerable talent that is coming out of the region’s universities and schools. We are determined to show that Sheffield has a huge role to play in national digital and data security innovation.”

Peter Whitely, Partner at Knight Frank Sheffield, commented:“MOS were keen to find an office space that had the ability to host all their clients staff entirely on a single floor plate, and in close proximity to major public transport links, which Acero provides.

These two deals, which now bring Acero up to full occupancy, are testament to the great quality of the development, and is fantastic news for the local economy, as well as for Sheffield City Centre, which is seeing office space being snapped up at an impressive rate.”

Other tenants in the building include NASDAQ-listed Mindbody, global engineers Atkins and pharmaceutical company Certara.

For further information, contact CPP Sheffield, Knight Frank and Colloco, who act on behalf of APAM.

Final two deals at popular Sheffield city centre building

Catella APAM (“APAM”), the specialist UK real estate asset and investment manager, on behalf of Britannia Invest A/S (“Britannia”), has secured Egress Software Technologies and Managed Office Solutions as tenants at Acero offices in Sheffield. These latest deals take the sought-after site to 100% occupancy.

Egress Software, which was founded in Barnsley in 2007 and now operates out of multiple international offices, has agreed a five-year lease for a 7,500 sq ft Grade A suite. Following a recent announcement to grow its workforce from 90 to at least 120 people in 2019, the move represents a significant commitment to the city as Egress Software become partners of Sheffield Digital. 

Managed Office Solutions (part of IWG Group) who provide fixed-terms solutions for contracts with major corporations, have secured 11,500 sq ft within the building, to provide fully operable space for a multinational banking and financial services, high street bank.

APAM acquired the prime city centre asset on behalf of Britannia in May 2018 having identified the opportunity to attract new occupiers and build on the success already seen at this development. Following improvement works to the reception including new external signage and upgrades to the basement amenities, these latest deals, which bring Acero to full occupancy, are testament to the quality of the building and its connectivity.  

Pete Owen, Senior Asset Manager at APAM, comments: “We have successfully let 40,000 sq ft in less than 12 months by engaging with tenants on incentives and fit-out requirements without comprising the investors’ return requirements.

Thanks to its high-quality design and adaptable office space, suitable for a wide range of businesses, it’s no surprise the building is now fully let and has repeatedly surpassed the record for top headline rent in Sheffield.

APAM sees this as a fantastic result with happy investors and tenants as well as leading the way in the Sheffield office market.”

Rob Darrington, Partner at CPP, said: “Acero is ideally placed within the city centre, and its focus on providing a vibrant, exciting, prestigious workplace for rapidly expanding digital businesses, such as Egress, made it an ideal new location for the firm. Forming part of the wider ‘Sheffield DC’, Acero offered them a flexible, modern, high-quality office space, which will allow them to thrive in what is now a great central hub for similar businesses in the region.”

“Tony Pepper, CEO of Egress, commented: “We are delighted to move into our new home at Acero. The innovative, open-plan office offers us the space and flexibility we need as we continue to expand our team in Sheffield and attract the best possible talent from the region.

The move to Acero also underlines our commitment to developing a technology innovation hub in Sheffield, something that is very important to the senior team here at Egress. There is enormous potential in this region to create exciting and innovative technology opportunities that capitalise on the considerable talent that is coming out of the region’s universities and schools. We are determined to show that Sheffield has a huge role to play in national digital and data security innovation.”

Peter Whitely, Partner at Knight Frank Sheffield, commented:“MOS were keen to find an office space that had the ability to host all their clients staff entirely on a single floor plate, and in close proximity to major public transport links, which Acero provides.

These two deals, which now bring Acero up to full occupancy, are testament to the great quality of the development, and is fantastic news for the local economy, as well as for Sheffield City Centre, which is seeing office space being snapped up at an impressive rate. 

Other tenants in the building include NASDAQ-listed Mindbody, global engineers Atkins and pharmaceutical company Certara.

For further information, contact CPP Sheffield, Knight Frank and Colloco, who act on behalf of APAM.