Park Group signs largest city centre office deal this year
Park Group has exchanged contracts with Canmoor to secure 25,982 sq ft at 20 Chapel Street, in what marks Liverpool’s largest office deal this year.
Park provides a range of financial products, such as reward and gift schemes, as well as operating a Christmas hamper savings arm.
Property company Glenbrook has been advising Park on its estate strategy, which will see the company take on a 10-year lease on the third and fourth floors, while retaining its existing site on Valley Road Industrial Estate in Birkenhead.
Worthington Owen and CBRE acted on behalf of Canmoor for 20 Chapel Street.
Ian O’Doherty, Park Group chief executive, said: “The relocation of our core business to Liverpool is another important and tangible step towards us delivering the new strategic plan for the company.
“This major investment exemplifies our commitment to growth, to driving our business forward and to giving our fantastic Park people an excellent work environment in which to flourish.”
Chris Lloyd, investment director at Glenbrook, added: “We guided Park Group through a thorough process identifying potential sites in Liverpool and the North West region.
“20 Chapel Street met all of the criteria and we were pleased to find the best solution to facilitate the company’s ongoing expansion.”
Sam Walker, director at Canmoor, said: “As the largest Liverpool office deal of 2019 to date, securing such a well-known and credible business as Park Group is a massive coup for 20 Chapel Street and is proof that the appetite for high-quality office accommodation in the city offering a wide range of services and amenities to occupiers is still strong.
“This latest letting takes the 15-storey building to 90% occupancy with a diverse mix of high-profile tenants.
“With limited availability of Grade-A space across the city, we expect interest to remain high for the remaining two floors.”
Park Group’s professional team included Brabners on the legals and Momentum Property Solutions advising on the fit out.
The group released a trading update for the year to March 31, this morning.
