DWP lined up for 90 Duke Street
The Department for Work & Pensions is close to finalising a deal to occupy 20,000 sq ft at the Liverpool office block owned by shipping company Atlantic Container Line.
The lease transaction, due to conclude this week, would take the 40,000 sq ft 90 Duke Street to fully let, as owner ACL has its headquarters on the top two floors and the DWP would take the ground and first floors under the deal.
The move is part of the DWP’s strategy to expand its portfolio of Jobcentres around the country and consolidate its existing estate to do so.
Consultancy Cushman & Wakefield is advising the DWP on its property strategy, and B1 Real Estate is advising ACL on the letting, with CBRE as joint agent for the building.
90 Duke Street in the Ropewalks area of Liverpool city centre was completed in 2016 by Network Space Developments, which had earlier acquired the derelict buildings at the site and then sold the property to ACL for an undisclosed sum.
The first and ground floors have been vacant since the building opened. The DWP letting will be among the largest office deals to complete in Liverpool in the past year.
B1 director Jonathan Baucher led the transaction for ACL, He said: “Despite the challenging market conditions in the office sector during the pandemic, we are delighted to be completing this significant letting – one of the largest in North West over the last 18 months.
“The quality of the building, its excellent facilities and its location were instrumental in attracting DWP to 90 Duke Street.”