Crosthwaite Commercial
 Tue 11 Oct 2011

Rreef UK have sold Telephone House on Charter Row in Sheffield to a consortium led by Ace Liberty and Stone plc for an undisclosed sum. The building occupies a prime city centre site adjacent to Hammerson’s proposed Sevenstone retail development, where CPO notices have now been served.
Telephone House occupies an island site and comprises 90,000 sq ft of offices let to BT until 2013, a 456 space multi storey let to NCP, together with a nightclub, bar and showroom. The total rental income is around £890,000 per annum.
Sheffield based Crosthwaite Commercial acted for Ace Liberty & Stone along with Maybridge Commercial and Knight Frank represented Rreef.
Commented Martin Crosthwaite “This is a landmark building in Sheffield city centre, virtually surrounded by one of the largest new retail schemes in the north of England, and offers our clients enormous asset management opportunities. It is not often that substantial properties such as this become available in the city and we are pleased to have been in a position to introduce this investment to Ace Liberty & Stone and negotiate the purchase.”
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