Hapag Lloyd swaps Tithebarn Street for St Paul’s Square in Liverpool

The global container shipping company has signed a 10-year lease for 8,900 sq ft at Valeo Capital’s 1 St Paul’s Square.

Hapag Lloyd is readying its staff to relocate from No1 Tithebarn Street to the new office in April. When the move is complete, it will join fellow 1 St Paul’s Square tenants Direct Line, Hill Dickinson, and Keoghs Solicitors.

The eight-storey 1 St Paul’s Square is fresh from a 2023 refurbishment that saw it receive a new reception, breakout areas, and toilets. The 131,200 sq ft office block also boasts cycle storage, lockers, and showers to encourage active travel.

Valeo Capital’s head of UK asset management, Camilla Bird, said: “We are delighted to welcome Hapag Lloyd to 1 St Paul’s Square, following completion of the refurbishment to reposition the building and improve the amenities for occupiers.”

CBRE represented Valeo on the deal, while B1 Real Estate acted for Hapag.

Neil Kirkham, senior director and head of CBRE’s Liverpool office, praised the refurbishment, saying that the quality of the changes is proven by the interest the building has received from potential occupiers.

Kirkham said: “There remains just 31,000 sq ft available office space over ground, first and second floors, with the ground floor offering opportunities for a variety of uses, such as retail, bar or restaurant, with suites from circa 2,000 sq ft to 8,500 sq ft.”

Providing Hapag Lloyd’s perspective. B1 director Jonathan Baucher said: “After an extensive market search, the recent repositioning works carried out at No 1 St Paul’s Square coupled with the building’s location and flexibility and efficiency of the floorplate created a real appeal to the business. The Hapag Lloyd business in Liverpool is extremely well established and this move is well aligned to its requirements.”