September 17, 2019

Devonshire Works acquired by First Degree Investment Management

First Degree Investment Management Ltd has acquired Devonshire Works, a landmark complex of buildings in Sheffield city centre, from Henry Boot Developments (HBD).

Devonshire Works is located within the Devonshire Quarter area of Sheffield city centre. It is a popular leisure destination, and benefits from excellent transport links, including major bus and tram routes.

Since acquiring the building, HBD has completed a number of refurbishment programmes across the three separate components of the scheme; Alpha House, Parkhead House and Carver House. All three have benefited from refurbished common areas, lifts and entrances.

Simon Ross, Development Surveyor at HBD, said: “Having been part of the HBD portfolio for some years, it’s time to pass on stewardship for Devonshire Works; an important historical property in a sought-after area. It’s an attractive, well-connected heritage building, and I’ve no doubt that Devonshire Works will continue to perform well as a key city centre asset.”

Jonathan Vardy of  First Degree Investment Management said: “We are delighted to have secured the acquisition of these iconic buildings from HBD. Devonshire Works is extremely well placed within the city centre and each phase of the Heart of the City II scheme will strengthen the location further. 

“A significant portion of the mid-market office space in Sheffield has already been converted into other uses and we believe this has created an opportunity to provide good value offices, primarily for local SMEs. We are keen to retain existing occupiers where possible and are currently refurbishing the vacant offices on a speculative basis. Colloco & CCP have already been appointed to market the space, which will be ready for occupation later this year, and we are pleased to have already agreed terms with a local business for an office of 5,000 sq ft.”

With six regional offices, including its Sheffield headquarters, HBD is part of the 130-year old Henry Boot PLC, is one of the most progressive property companies in the UK. The developer is currently working with a commercial pipeline in excess of £1bn.

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The Modern Slavery Act 2015 - Group Statement: View here

Henry Boot PLC and its Group Companies has, following the introduction of the Modern Slavery Act 2015 (the “Act”) implemented a number of measures which seek to bring about greater transparency and scrutiny into our various supply chains, in order to combat slavery and trafficking activities. Further to this, over the past year we have been reviewing the measures put in place and seeking to identify additional actions to strengthen our due diligence and transparency. The aim of the Act is in line with our own ‘Henry Boot Way’ Vision and Values, as updated in 2017, which include ‘Respect’, ‘Integrity’ and ‘Collaboration’, all of which are relevant to our approach in this regard.

We continue to keep under regular review our Human Trafficking and Slavery Statement (the ‘Statement’), setting out the activities undertaken to reduce the risk of slavery and trafficking activities being present within our business operations. These measures include the introduction of an Anti-Slavery Policy, due diligence requirements, and mandatory contract clauses seeking compliance by our supply chain with appropriate anti-slavery measures. Additional measures that have recently been put into place to increase knowledge and vigilance throughout our organisation and supply chain include posters and awareness cards across our sites.

We will continue to regularly work with our partners, contractors, suppliers and other stakeholders, as well as keeping industry best practice under review, to monitor our approach for effectiveness, and consider any changes or additional measures as appropriate.

Click to access our Statement here.

Henry Boot PLC
John Sutcliffe
Chief Executive Officer