Liverpool’s 2010 office market suffers 50% decrease in take-up

Only 207,515 sq ft of office space was let in Liverpool city centre in 2010

Article posted: 25 Apr 2011

According to an article in Property Week (15-04-11), the market for office space in Liverpool suffered a significant drop in 2010 with total take up of less than 50% of 2009 figures.

Lettings totalled only 207,515 sq ft in 2010, dramatically down on the 2009 total of 519,274 sq ft, although the 2009 figures were impacted significantly by two deals totalling 360,000 sq ft with Merseytravel taking 140,000 sq ft at Mann Island and the UK Borders Agency taking 220,000 sq ft at The Capital.

The 2011 office market is anticipating a 90,000 sq ft letting at Bruntwood’s the Plaza (pictured) on Old Hall Street by law firm Weightmans who recently took over Mace & Jones. In addition, Santander is expected to expand its requirement at the Bruntwood scheme, with a 9,000 sq ft increase in space.

Meanwhile, Muse Developments is set to complete on the development of its St Paul’s Square scheme, next door to the Plaza and hopes to attract “high-quality tenants” according to Muse development director Darren Lawless.

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Posted by Jo