Manchester-based property developers CTP have won a major honour for their role in the multi-million pound sale of 3 St Paul’s Place in Sheffield.
CTP, working in conjunction with Sheffield City Council and the U+I Group, triumphed in the Property Deal of the Year category at Yorkshire Business Insider’s South Yorkshire Property Awards.
3 St Paul’s Place, part of Sheffield’s transformational Heart of the City project, was sold to M&G Real estate for £24 million earlier this year.
Ian Leech, the editor of Yorkshire Business Insider, commented: “This was a very democratic choice, because the awards are voted for by South Yorkshire’s property professionals. The awards themselves showed how the region’s property sector is thriving and the short-list for the Deal of the Year was very strong.
“So many congratulations to David Topham and CTP, who have played a crucial role in the renaissance of Sheffield city centre,” he added.
David Topham, managing director of CTP, commented: “It is clearly a very gratifying experience to be the recipient of an award that has been judged to have made such a contribution to the City of Sheffield.
“We are tremendously proud of what our team has achieved at 3 St Paul’s Place. It is the first speculative office building to be developed in Sheffield since the recession and now boasts a number of high-quality occupiers and will shortly be fully let.
“The sale completed the St Paul’s Place masterplan, which has been a primary regeneration initiative for Sheffield city centre and a crucial part of Sheffield’s £185m Heart of the City project. It puts Sheffield firmly on the map as a business destination.
“The remarkable success of St Paul’s Place, and 3 St Paul’s Place in particular, has transformed and ignited the city’s office market. When we embarked on the overall development, Grade A rents were about £15 per sq ft. They are now a record-breaking £24.50 per sq ft.
“We have developed a high-quality investment class product for the city attracting Standard Life, Canada Life, and M&G to Sheffield. This has revitalised not just the office market in the Sheffield city centre, but the retail offer too.
“This award is the recognition of the part our team has played is helping us to deliver St Paul’s Place in the Heart of the City, and especially of the key part our partners at the City Council have played in selecting us in the first place and helping us to steer the project through multiple phases over a period of the last 13 years,” he added.