The new city-centre apartments on Queen Street include 24 one-bed apartments and eight two-bed apartments with completion expected at the end of December.
Building Company Ventures has invested £800,000 into the redevelopment of the Omnia One building which will have an end value of £4.2m, with Lloyds Bank Commercial Banking backing the project with a development loan worth £820,000.
The Omnia One building has been owned by Building Company Ventures since 2004, and was operated as serviced offices until redevelopment works began in April this year.
Sebastian Brown, director at Building Company Ventures, said: “There’s a strong demand for residential property in Sheffield at the moment, and the new apartments are in a great location.
“This is our largest redevelopment to date, and the support we’ve had from Lloyds Bank has been important in helping us achieve this.
“The bank was keen to get involved from the outset, and helped us getting started with the project straight away.”