Pennine Five

Pennine Five (P5) is a commercial office development in Sheffield, England, located in the city centre near Tenter Street and Silver Street Head. Originally known as the Pennine Centre or Griffin House, the complex was built in the 1970s and served as the Midland Bank (later HSBC) regional headquarters until 2019. Following HSBC’s relocation, the site was acquired by RBH Properties, which launched a major redevelopment project to modernise the office space, introduce retail and leisure facilities, and create a new public plaza.
The redevelopment has positioned Pennine Five as an innovation hub, incorporating state-of-the-art office spaces, digital infrastructure, and collaborative work environments aimed at fostering business growth and creativity.
Built between 1973 and 1975, the Pennine Centre was designed as a major financial hub for Midland Bank, later taken over by HSBC. The development consists of five interconnected office buildings, with the tallest block reaching 165 ft (13 storeys).[³]
At its peak in the early 2000s, the site housed 3,500 HSBC employees and played a key role in banking operations, IT services, and secure storage. The complex was notable for its fortified design, which included 2ft-thick vault doors in the basement to store gold bullion and large sums of cash.
Despite its size—230,000 sq ft across 44 floors—the development was relatively low-profile, positioned halfway down Sheffield’s northern slope and deliberately designed to be discreet.
HSBC vacated the site in 2019, moving to new headquarters in Sheffield city centre. The Pennine Centre was subsequently acquired by RBH Properties, marking the start of its transformation into Pennine Five.
The redevelopment of Pennine Five has been structured into multiple phases, aimed at modernising the office space, introducing leisure and retail elements, and making the highly site accessible to the public for the first time.
The first two phases of redevelopment have been completed, with businesses now occupying the newly refurbished office spaces. These upgrades have focused on:
The final phase of refurbishment is nearing completion, introducing:
This transformation marks a shift from a private, high-security banking site to an open, permeable, multi-purpose business and social hub for Sheffield.
Pennine Five is being developed as one of Sheffield’s leading innovation hubs, catering to tech-sector startups, SMEs, and larger enterprises.
Pennine Five has attracted several notable tenants, reinforcing its status as an innovation hub:
The site integrates modern workspace trends, focusing on:
RBH Properties has prioritised sustainability and digital innovation, ensuring that Pennine Five meets the evolving needs of modern businesses.
The redevelopment of Pennine Five aligns with Sheffield’s broader regeneration efforts, particularly around West Bar and the city centre. The project is positioned as one of Sheffield’s largest commercial transformations, offering modern workspaces, co-working areas, and social spaces.
By establishing itself as an innovation hub, Pennine Five contributes to Sheffield’s growing reputation as a centre for business innovation, supporting dynamic businesses, fostering collaboration, and integrating sustainable design principles.
RBH Properties has focused on sustainability, well-being, and flexibility, incorporating public spaces, green areas, and digital infrastructure to meet contemporary business and lifestyle needs.