14 December 2022


World’s largest provider of hybrid work solutions opens new ‘Spaces’ as demand for hybrid working rises

Spaces, the modern flexible workspace brand for businesses of all sizes, has signed up to take over 30,000 sq ft of office space in Pennine Five – making it the largest commercial deal in Sheffield city centre since 2019.

Spaces will take all upper floors of an eight-storey building on the Pennine Five campus. They will deliver a wide range of workspace solutions including private offices, coworking access, meeting rooms and collaborative spaces – all set within a creative and design-led environment.

Since taking ownership of the five office blocks that made up the former HSBC headquarters on Tenter Street in 2019, RBH Properties has been injecting a new lease of life into the site and are in the midst of transforming it into a bustling and inclusive business campus, suitable for 3,500 professionals.

The ongoing work includes creating a £1.5 million outdoor central plaza designed to offer people a place to relax, socialise and collaborate. Event space and art installations will also be incorporated to help widen the appeal to the public and neighbouring businesses.

Spaces, who will join the campus’ first three occupiers – First Intuition, Department for Work and Pensions and Sheffield College, are part of IWG, who also operate brands including Regus, Signature and HQ.

Jeremy Hughes, Director at RBH Properties, said:

“The offer and culture of Spaces really complements what we’re trying to achieve at Pennine Five and can help us create a melting pot for firms of all sizes and sectors. The campus will be a meeting point for knowledge-sharing and creative thinking.

“Many occupiers are also buying into our bold approach to sustainability. By repurposing this huge site, Pennine Five is now a blueprint for how regeneration can help lower carbon emissions today, not decades down the line. In addition to saving huge quantities of embodied carbon, we are creating a 280-space cycle hub and introducing significant EV charging facilities in the existing car park.”

Nigel Barnes, UK Development Director for IWG, commented:

“We are establishing a stronger and much-needed footprint in Sheffield with this latest opening. As an important business hub, Sheffield is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal.

“Our opening in Sheffield comes at a time when more and more companies are discovering that hybrid working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”

Tim Bottrill of Colloco added:

“We are delighted to welcome Spaces to Pennine Five. It’s a major coup and will become a key anchor on the campus for many years to come. The influx of extra footfall Pennine Five will deliver will be hugely valuable to growing this area of town over the coming months and years.

“With a dynamic mix of workspace and lease solutions, we can flex to anticipate the needs of any commercial tenant at Pennine Five. With the likes of Spaces now in place, a company can mature from a one-person start-up to an international market leader – all on a single campus.”

Fit-out is already underway on Spaces and they are expected to open their doors to the local business community in Spring 2023.