The telecommunications giant has shelved its pipeline deal to take 80,000 sq ft at Kier and CTP’s £200m Pall Mall scheme indefinitely, due to market uncertainty amid the pandemic.
BT was in talks to take space at Pall Mall ahead of its other shortlisted option of Liverpool’s Knowledge Quarter, but the deal has stalled following talks this week, and no timeframe has been set for when the company may revisit its plans.
The Pall Mall deal would have seen BT relocate from its existing office at Lancaster House on Old Hall Street in the city centre.
The decision to cancel the planned letting is part of a wider rethink by BT of its national office requirements as current market uncertainty persists. The company has also shelved plans to take planned new space in Sheffield.
However, BT’s plans to take around 150,000 sq ft at New Bailey in Salford, developed by the English Cities Fund consortium, are understood to still be in the works, albeit at a reduced level.
In Liverpool, BT knocked around 20% off its requirement and at New Bailey, a revised planning application for a 10-storey block, rather than the original 12 storeys, was submitted by ECF as a result of BT reducing its space needs.
BT declined to comment.
JLL and Cushman Wakefield are the agents for New Bailey. Colliers International and Worthington Owen are the agents for Pall Mall. JLL is advising BT on both deals.