Refurb drives interest at Exchange Station

THE landlord at Exchange Station in Liverpool says around 68,000 sq ft of the building is subject to interest after embarking on a £5m renovation.

Wayne Locke, director of Space Northwest, the joint venture between landlord Ashtenne and the Homes & Communities Agency that owns the building, said he was at “handshake” stage on new lettings to businesses that are either considering taking refurbished suites or existing space.

He said interest had been driven by publicity around the improvements.

“It’s generally accepted that occupiers are looking to take modern, well connected space with amentities and aren’t interested in tired accommodation,” said Mr Locke who has canvassed existing tenants on what they want – down to the type of coffee in a new cafe.

The Tithebarn Street railway station closed in the 1970s but the frontage was retained as part of a new 193,000 sq ft office building known as Mercury Court built in 1986.

Suites range in size from 670 sq ft to 46,000 sq ft, which is the largest floor plate, but the biggest refurbished space is 11,000 sq ft. Tenants at the building include Stanley Betting, Bermans, Moucel, Integrated Building Management and GVA. Occupancy stands at around 70% due to the loss of tenants such as Lloyds Bank, the Bank of England and Network Rail.

In the first, speculative, phase of works the atrium is being remodelled to create a concourse with concierge reception, meeting rooms, seating for informal meetings and a coffee shop.

Six office suites of 18,000 sq ft are being refurbished and ultra-fast broadband is being installed along with energy efficient heating, cooling and lighting systems. There will also be secure bike storage, a gym, shower facilities and locker rooms.

Mr Locke said: “I would like to do another speculative range of suites. There is demand and what that’s showing is the cautiousness that’s been holding the economy back is definitely starting to change.

“There’s a real feeling that occupiers are keen to see space, the problem is the space hasn’t been delivered because institutions and funders haven’t been prepared to put money into it. But clever people in the industry see that if they do it they will see returns. At the end of the day, the more investment that goes into Liverpool city centre, the better that is for all of us.”