A recapitalisation project means a surfeit of contractors needing office space. Credit: via Agent PR

Forgemasters acquires Sheffield support space

19 December 2023 09:57 Neil Tague Comments (0)

Teams working on the engineering group’s expansion will work from Riverside Court, a 10,000 sq ft office in the Meadowhall district, following a deal brokered by Knight Frank.

Knight Frank’s Sheffield’s agency team, headed up by Peter Whiteley, facilitated the disposal of Riverside Court, at the junction of Brightside Lane and Weedon Street, with JLL acting for Sheffield Forgemasters.

The sale price was undisclosed.

The two-storey 1980s-built Riverside Court complex will become a base for project leaders and associated contractors handling one of the city’s most important industrial developments.

Sheffield Forgemasters, now owned by the Ministry of Defence, is investing in a new 13,000 tonne forging line and new machining facility.

Peter Whiteley, partner and head of office at Knight Frank, said: “Sheffield Forgemasters is investing in the city of Sheffield through its recapitalisation project, bringing employment, commercial and property opportunities.

“It was important for the company to house the relevant staff on one site, also emphasising how crucial an office space with associated parking is in this type and scale of scheme.”

The world-renowned engineering firm is undergoing a multi-million recapitalisation project which will see its workforce almost double via on-site contractors, making space a premium at the 64-acre site.

Steve Marshall, manufacturing transformation director at Sheffield Forgemasters, said: “The purchase of offices at Riverside Court offsets demands that the recapitalisation programme will place on existing facilities.

“Our employee count is more than 600 and contractors are set to number almost 500, so additional offices and car parking are essential to maintain productivity without any impact on our major recapitalisation works.”

The MoD acquired Sheffield Forgemasters in 2021 for £2.5m, seeing the business as a critical part of its supply chain. The group also supplies markets including civil nuclear, oil & gas, power generation, renewables and steel processing.