Latest Deal For Award Winning Team
Real Estate experts at law firm Irwin Mitchell in Sheffield have helped a local university to raise funds by selling off unused buildings.
The firm, named Yorkshire Property Law Firm of the Year for 2011, acted for Sheffield Hallam University in a deal to sell Broomgrove Hall, a former halls of residence on the University’s Collegiate Campus which had stood unused since 2010.
There were several interested bidders but it eventually came down to two with City Estates emerging successful in contract race conditions. The deal also saw the University taking a ‘lease-back’ of part of the site, which will allow it to still use a part of the building as an ‘overflow’ teaching facility on a three-year-lease.
Agents Knight Frank had marketed the property which was sold to successful bidder City Estates, developers of the West One complex in Sheffield.
Kevin Fox, an Associate Solicitor in the Real Estate team at Irwin Mitchell advised the University. He said: “We’re delighted to be able to continue supporting the University with this deal. There were several interested bidders for the property with competition fierce between them. The conditions of the deal were satisfied within just four minutes of the contract papers being received.”
Tearle Phelan, a Partner at Knight Frank, said: “This is a great deal to get a building which has been unused since 2010 back into play in Sheffield. 2011 has been a strong year for property deals in Sheffield and Sheffield Hallam University has played a big part in that.”