One London-based firm has been offered a year’s free rent if it commits to a five-year lease on 5,000 sq ft of office space. Other incentives could include business rate relief, access to a business investment fund grant and recruitment consultants.
Sheffield is believed to be the first city in England to commit public funds to persuade firms to relocate. The campaign will be led by a consultancy spin-off Creative Sheffield, established by the council with a budget of nearly £3m for 2016/17.
Leigh Bramall, deputy leader of Sheffield City Council, said the affordable housing will persuade individuals to move, while business advantages will win over employers. Aiming to steal a march on the more established legal centres of Leeds and Manchester, he added that ‘high-quality grade-A office accommodation’ is cheaper in Sheffield. Glossy brochures advertise that such office space can be had in the city centre for £14 per sq ft, while also emphasising the city’s close links to national and international business centres and salary costs are up to 28 per cent lower than in London. Source: The Law Society Gazette
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