CEG seals first deal at iconic Exchange Station
COMMERCIAL Estates Group, in partnership with Anglo Scandinavian Estates, has secured its first deal at Exchange Station in Liverpool’s central business district with global recruitment firm Randstad, the world’s second largest Human Resources’ service provider.
The news coincides with the appointment of joint commercial letting agents, Hitchcock Wright & Partners and Bilfinger GVA to market the vacant office accommodation at the landmark scheme.
Randstad has relocated from Temple Square on Dale Street to take 2,760sq ft on a five-year lease. The organisation will join existing tenants including Handelsbanken; Mouchel; Active Profile and Bermans.
Following CEG’s acquisition of the iconic 190,000 sq ft office building in March from Homes and Communities Agency, work on the first phase of the £7m refurbishment programme has already commenced.
The investment will see the third floor split into three suites offering 3,000 to 4,000sq ft of Grade ‘A’ office space.
Brian Ricketts, partner and head of office agency at Hitchcock Wright & Partners, said: “CEG’s commitment to invest in one of Liverpool’s most iconic and prestigious buildings has successfully attracted businesses of an extremely high calibre. The phased refurbishment programme will provide occupiers with a wide range of high quality office suites and will be able to accommodate businesses of all sizes.”
Ian Steele, Bilfinger GVA director, continued: “Having already invested approximately £20m in Exchange Station, this is the only speculative refurbishment programme of its size currently on-site in the commercial district and will deliver much needed Grade A office space to satisfy both immediate and future occupational demand.
“We have already received expressions of firm interest from a number of potential occupiers in what is a premier location and a fantastic business address for any organisation.”
Built in 1888, the Tithebarn Street building was formerly a Victorian railway station before it was redeveloped by English Estates in 1986. During its ownership the 19th century façade was retained and 190,000 sq ft of office accommodation was created in the basement, on the ground floor and five upper floors.
Exchange Station provides office suites of varying sizes on a site of circa 1.03 hectares (2.54 acres) with basement car parking for 206 cars.
Quoting rent in the office is £15/sq ft.
Randstad was unrepresented.