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Major Global Law Firm Becomes Second Anchor Tenant of Heart of The City II
Top 10 global law firm, CMS, is set to become the second anchor tenant in the Heart of the City II scheme being delivered by Sheffield City Council.
CMS has over 70 offices located across over 40 countries. The company is set to reaffirm its future in Sheffield, relocating from its current base at Victoria Quays and preserving the firm’s presence as a major employer in the city.
CMS is to take 47,500 sq ft of premium Grade A office space within the same landmark building that is also the new home to HSBC. The move further strengthens the emergence of Heart of the City II as a new financial and professional services district for the Sheffield City Region.
CMS will occupy the 26,000 sq ft that makes up 1 Charter Square, plus an additional 21,500 sq ft of adjoining space. The new office will be entirely self-contained and separate to HSBC, with a bespoke entrance, reception and signage facing onto Wellington Street and connecting to the impressive public realm of Charter Square.
Commenting on the announcement, Nalin Seneviratne, Director of City Centre Development at Sheffield City Council, said:
“This announcement marks a major vote of confidence in the Heart of the City II scheme. CMS, along with HSBC, brings a wide range of people, long-term into the city centre, creating an exciting buzz and interest in the proposed bars, restaurants, shops, leisure and hotels within the scheme.
“We’ve always said that this project needs to be flexible and able to adapt to changing circumstances and market conditions. This letting has shown our ability to deliver this, reconfiguring some larger retail units within the block to provide the scale of office CMS required, in the necessary timescale.
“The office space is now fully let, and we have secured Monki, Weekday and Marmadukes in the ground floor units that are more suited to the type of specialist retail, and food and drink occupiers that want to be within this quality scheme.”
Paul Sargent, Chief Executive of Queensberry, added:
“As the Council’s Strategic Development Partner for Heart of the City II, we see this as a significant milestone in the development of our vision for Sheffield. 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.
“We are particularly pleased about the way we have been able to accommodate CMS in the scheme by taking an adaptable approach and reworking the original design, therefore guaranteeing CMS’s long-term future in the city.”
Commenting on the move, Mark Haywood, Partner and Head of the North at CMS, said:
“We are delighted to reaffirm our commitment to Sheffield – and the North of England generally – in the most tangible way possible, by taking a new home for our people in the City for the next 20 years, with space to grow. CMS has grown by more than 20% in the North of England over the last 18 months as we consciously embrace the opportunities this vibrant region offers, with significant partner hires made in each of our real estate, pensions and commercial litigation sectors, with additional corporate, banking and construction capacity added across the board. These are exciting times for our Liverpool, Manchester and Sheffield teams.”
Notes to editors
About Heart of the City II
Heart of the City II is one of Sheffield’s key economic projects. Backed by Sheffield City Council, with Queensberry as its Strategic Development Partner, it is not just a retail scheme, but a mixed-use, vibrant quarter right at the heart of the city and synonymous with everything the city is trying to achieve.
The scheme builds on the hugely successful original Heart of the City project that kick started the regeneration of Sheffield city centre at the start of the Millennium. The new mixed-use scheme will comprise of high-quality retail, Grade A offices, hotel and residential developments, restaurants and cafés, leisure destinations, parking and stunning public realm.
Located at the very core of the city centre, it will bind together the old and the new, keeping the existing street patterns and quirky historic buildings but adding in striking new architecture and unique outdoor spaces. Rooted in the city’s unique character, Heart of the City will provide a new home for Sheffield’s cultural, commercial and creative trailblazers.
Queensberry is a market leader in property development and investment. They deliver award-winning mixed-use developments to their partners and strong returns to co-investors.
Queensberry puts design first and understands the importance of a creative design approach with complex urban environments. Their mission is to rekindle civic pride through the developments they build and refurbish, while being sympathetic to the existing urban fabric.
CMS provides clients with specialist, business focused advice in law and tax matters. With our 4,500 legal professionals across the world, working in sector-based teams and expert in project management, our focus is on our clients and fulfilling their objectives.
CMS is a full-service top 10 global law firm, based on the number of lawyers (Am Law 2018 Global 100). With 70+ offices in 40+ countries across the world, revenues totalled €1.36bn in 2018. CMS acts for the majority of the DAX 30, a large number of the FT European 500 and a number of Fortune 500 companies.
CMS provides a wide range of expertise across 19 expert practice and sector areas including Banking and Finance, Commercial, Competition, Corporate, Dispute Resolution, Employment, Energy, Funds, Intellectual Property, Life Sciences/ Pharmaceuticals, Real Estate & Construction, Tax and TMT.
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