BNP Paribas Real Estate has advised on the landmark letting of No.1 West Bar Square in Sheffield to the Department for Work and Pensions (DWP), marking the largest Grade A office transaction in the city for over seven years.
Acting as lead letting agent on behalf of Sheffield City Council on No.1 West Bar Square and as sole agents for the wider West Bar development, BNP Paribas Real Estate has played a central role in securing the deal, which will see DWP occupy the entirety of the 100,000 sq ft office building.
Guy Cooke, Senior Director, Agency & Development at BNP Paribas Real Estate, commented: “Securing a letting of this scale is a major statement for Sheffield’s office market and underlines the strength of demand for high-quality, well-located Grade A space. West Bar is one of the most important regeneration projects in the UK, and this deal demonstrates the confidence that major occupiers such as DWP have in the city’s long-term growth story.
“As lead letting agent, we are proud to have supported Sheffield City Council and the development partners in delivering this milestone transaction, which will act as a catalyst for further inward investment at West Bar.”
No.1 West Bar Square is the first completed office building within the £300 million West Bar regeneration scheme, a transformative mixed-use development located between Castlegate and Kelham Island. The scheme is being delivered by Urbo Regeneration Ltd in partnership with Peveril Securities and is backed by Legal & General, which has committed £150 million to the first phase.
The wider development will ultimately deliver over one million sq ft of mixed-use space, including high-quality Grade A offices, 368 build-to-rent homes, and a further 550,000 sq ft of office accommodation in subsequent phases, alongside supporting infrastructure including a multi-storey car park. Legal & General is also set to fund a second 100,000 sq ft office building at the site.
The agreement will see one of Sheffield city centre’s most prominent new office buildings fully occupied, reinforcing the city’s growing reputation as a leading UK destination for both public and private sector occupiers.
DWP’s relocation to West Bar further strengthens Sheffield’s position as a national hub for policy development. The city is already home to more than 7,000 civil servants and boasts the largest concentration of policy professionals outside London, with over 1,000 policymakers based in the Sheffield Policy Campus.
The transaction represents a significant milestone in Sheffield’s ongoing regeneration, supporting the delivery of the city’s Growth Plan and bringing high-quality employment opportunities to the region.
The West Bar scheme continues to play a pivotal role in transforming this part of the city centre, bringing forward new jobs, homes and investment, and reinforcing Sheffield’s position as a key regional economic hub.
JLL acted on behalf of the Department for Work and Pensions.
