Insurance group takes 17,000 sq ft within burgeoning Liverpool business district

Insurance group Direct Line has signed up to lease almost 17,000 sq ft of office space over a 10-year term at 1 St Paul’s Square in Liverpool.

CBRE’s Liverpool Office Agency team secured the letting four weeks after major repositioning works commenced on the building.

Direct Line Group has been chosen to be the new partner to Motability Operations, the company behind the Motability car, powered wheelchair and scooter scheme, to provide insurance to its more than 650,000 customers.

The Liverpool-based team which will deliver the service will make 1 St Paul’s Square its home to support Motability Scheme customers. Direct Line Group has taken the entire fourth floor of the building to service this new contract.

Development managers Valeo Capital kickstarted its repositioning project on the building in November last year to include mixed-use at ground floor level, circa 50,000 sq ft of Grade A contemporary office space, a full refurbishment of the central atria to provide a new reception, seating area and booths for social or informal meetings.

A new cycle storage facility will also be created with cycle racks and lockers, as well as drying lockers.

The 1 St Paul’s Square site is an eight-storey building which incorporates imaginative architectural finishes and considered sustainability.

St Paul’s Square has recently undergone redevelopment works by English Cities Fund. Attracting many high profile professional services companies, it is home to a number of Liverpool’s principle law firms, including Hill Dickinson, Weightmans and DWF, as well as financial occupiers such as Santander and Investec.

Neil Kirkham, senior director, CBRE Liverpool, said: “This transaction very much substantiates our client’s decision to invest in the repositioning of 1 St Paul’s square and attests to the quality of product and amenity which is being delivered.”

Camilla Bird, head of UK asset management, Valeo Capital, said: “The building is about to go through a transformation, with a new reception and best in class amenities, with the aim of creating some of the best office space in Liverpool.”

Cushman and Wakefield acted for Direct Line Group.