Commercial property investment company Evolve Estates has acquired Hillsborough Barracks in Sheffield, comprising a shopping parade with converted offices and separate office buildings within a walled estate.
The estate, which was originally used as a War Office in 1848, was repurposed 40 years ago as a retail and business destination, with multi-storey car park, local shopping parade, offices, The Garrison Hotel and McDonalds, both of which have long leasehold.
The Parade, which was brought to market by Opus North LLP with an asking price of £4.2m, is anchored by Morrison’s, which was not included in the sale, and has a mix of high street and independent traders, including Poundland and Extra Care Charity Trust.
Joe O’Keefe, of Evolve Estates, said: “We’re pleased to have completed the acquisition of this superb mixed-use site in Sheffield, which has a strong retail centre, a good office complex offer, and excellent transport links to the city centre and local residential areas.
“We recognised the huge potential of this site, so were keen to bring it into our increasing portfolio of local district centres and convenience parades. We’re looking forward to working with local retailers, businesses and organisations to see how we can best add value to our purchase and benefit the local community.
Commercial property investment company LCP has been appointed to manage the centre for Evolve Estates, which is part of the LCP group of companies.
Prime acted as agents for Evolve Estates, with Allsop acting for Opus North LLP.