Canada Life acquires office property in Sheffield

£24m paid for 1 St Paul’s Place in city centre

Article posted: 06 Jan 2011

Canada Life has acquired offices in Sheffield city centre which are home to law firm DLA Piper and Royal Bank of Scotland. £24 million has been paid to Standard Life for the new development at 1 St Paul’s Place.

The scheme comprises 88,000 sq ft of grade A office space in the heart of Sheffield and is part of the St Paul’s Place development which consists of two further office buildings, one of which is let to the Department for Schools, Children and Families, and another which is still under development.

The office buildings co-exist around new public squares with a landmark tower of luxury apartments, 135,000 sq ft of restaurants, bars and retail space plus a hotel and multi-storey car park.

Fund manager at Canada Life Shailendra Shah commented: "This acquisition fits in with our current strategy of buying defensive assets in prime locations that are well-let to excellent tenants."

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Posted by Julie