CMS signs up to Sheffield’s Heart of the City II

Global law firm CMS has agreed to take 47,500 sq ft at Sheffield City Council’s Heart of the City II. CMS will take a 20-year lease alongside HSBC’s city headquarters at Charter Square. The deal has set a new headline rent for the city, in excess of current levels estimated at around £25 per sq ft. CMS is the second anchor tenant in the £480m Heart of the City II, which is being built by Queensberry, and will occupy 26,000 sq ft at 1 Charter Square and 21,500 sq ft of adjoining space. It is relocating from its current base at Victoria Quays . Queensberry reworked the original design, reconfiguring larger retail units to make space for the law firm. The new office will have a bespoke entrance, reception and signage fronting Wellington Street and connecting to the public realm at Charter Square. Nalin Seneviratne, director of city centre development at Sheffield City Council, said the move was “a major vote of confidence in the Heart of the City II”. Paul Sargent, chief executive at Queensberry, added: “Our ambition has always been to deliver a new commercial district that can evolve over time in line with the wider region’s economy – this is a great example of the way that strategy is becoming a reality.” CMS is expected to occupy the building from August 2020. The office space is now fully let, with retail brands Monki, Weekday and Marmadukes secured for the ground floor retail units. The Heart of the City II covers 17 acres in Sheffield city centre. The masterplan comprises 1.5m sq ft of mixed-use development to be delivered over almost a decade. Guy Cooke, director of BNP Paribas Real Estate, who advised CMS, said: “The news is a very positive endorsement for the city and the move itself will in fact be the largest leasing deal of existing space in over five years, which will provide a fantastic boost for the scheme and the city centre.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette