Deal sealed on largest Liverpool letting for two years

LIVERPOOL John Moores University is to take 58,000sq ft at Exchange Station – the largest letting in the city since 2014.

IT will relocate 400 employees across LJMU’s management, finance and HR function from LJMU Tower, Norton Street and Kingsway House.

The university has taken a 10-year lease and will operate over four floors at the city centre development, which is home to Randstad Recruitment; Handelsbanken; Mouchel; Active Profile and Bermans.
 
The announcement comes after a joint venture between Commercial Estates Group and Anglo Scandinavian Estates acquired the scheme in March this year before beginning a £7m phased refurbishment which is underway.

Colin Davies, director of estate management at LJMU, said: “Our professional service teams currently operate across multiple sites in the city, and so moving the services into one city centre location will create greater synergies between separate departments and provide the staff with excellent, high quality office accommodation in one of the city’s premier locations.”

Antonia Martin Wright, head of investment at CEG, said: “Our strong belief in the city’s occupational market played a key part in our decision to acquire Exchange Station.

“The university’s decision to relocate its operations means that the scheme will be 65% occupied and with further deals to be announced shortly, we are confident that Exchange Station will be fully let in the coming months.”

Brian Ricketts, partner and head of office agency, at Hitchcock Wright & Partners, joint agents for the scheme with GVA Bilfinger, said: “Few schemes in the city are able to accommodate a requirement of this size. CEG had the foresight, the confidence and the ability to realise the potential of Exchange Station and secure a significant tenant in LJMU.”

Exchange Station provides office suites of varying sizes on a site of  about 2.54 acres with basement car parking for 206 cars.

Quoting rent in the office is £15/sq ft.

In House Estates is representing LJMU.

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