Henry Boot has sold Banner Cross Hall, its Sheffield headquarters of 93 years, to Davison Property Investment for an undisclosed fee, with the Grade II listed building to be restored and fitted with serviced workspace.
The contractor put Banner Cross Hall, a circa 18,000-square-foot office building and around 10 acres of surrounding land, up for sale in March, after securing new premises at the Isaacs Building on Charles Street.
Knight Frank was instructed to sell the property near the Ecclesall Road neighbourhood, with local publication The Star reporting that it had be valued at around £2 million. It added that Henry Boot staff were told restoration costs could reach £10 million, if they were to stay.
Davison Property Investment has now completed the acquisition of the site and will restore the building to provide modern workspace to house its recruitment, training, payroll, clinical insourcing and property investment teams.
The new owner will also install dedicated serviced workspace for local businesses to use on a flexible basis in one part of the building. It already operates service office space in the Grade ll listed Globe Works at Kelham Island in Sheffield.
Alongside the workspace at Banner Cross Hall, there are plans to add a restaurant and cafe, which will be open to the public. The hall dates back to 1821 and was refashioned by prominent architect Jeffry Wyatville, who also worked on Windsor Castle.
Tim Roberts, chief executive officer of Henry Boot, said in a statement: "Banner Cross Hall has been home to Henry Boot for over 90 years and has facilitated the successful growth of the company throughout this time.
"We are pleased that the building will retain its core function as an office space, while the new owners also have plans to open up the building to the public, who will be able to benefit from the fantastic grounds that the Henry Boot team have been fortunate to enjoy for many years."
Davison Property Investment chief executive Matthew Davison has said that the business will work with Sheffield City Council and the local community on the restoration.