S1 Artspace has acquired the 11,000 sq ft former Yorkshire Bank Chambers in Sheffield city centre for a new arts and cultural venue in conjunction with Sheffield Hallam University.
The Grade II listed building, which sits on the corner of Haymarket and Commercial Street and was once the city’s stock exchange, was marketed with a guide price of £600,000.
Once renovated and extended, the property will feature two floors of public galleries, which will be used to showcase new works by local, national and international artists.
The building will also feature artist studios, a community and events space, a research centre, a shop profiling local artists and makers and an independent bar.
Louise Hutchinson, project director at S1 Artspace, said: “Like many cultural venues in Sheffield, S1 has faced significant challenges operating within the commercial rental market. Securing our own premises is a remarkable achievement that allows us to move forward and establish a space that places artistic practice firmly at its core.”
Adrian Lunn, who heads up Eddisons’ Sheffield office, which marketed the building on behalf of the vendor, added: “We work closely with Sheffield Hallam University, as well as the city council and other public sector organisations in Sheffield and we were thrilled to be able to sell this fantastic city centre building to S1 Artspace.
“Highly innovative projects like this one form essential elements of Sheffield’s regeneration and resurgence as a vibrant, thriving city. The arts are helping drive our economy and bring huge numbers of visitors to our city. We will be excited to see the new space when it reopens as another great asset to Sheffield.”
