Liverpool office take-up recovering

Office take-up in Liverpool city centre rose 22% to 316,964 sq ft in 2013 according to research published jointly by Professional Liverpool, Liverpool Vision and Liverpool Commercial District BID.

The total number of transactions last year was 108, more than double the 2012 tally and the highest for 10 years.

The authors of the annual commercial property market review said the "main driving force behind the improved take-up in the central business district was the return to normality for the professional services sector, which was responsible for 47% of all take-up."

The largest deal of the year was described as Hampson Hughes Solicitors' acquisition of 68,000 sq ft at Edward Pavilion in Albert Dock, although the law firm only occupied half of the space.

The report went on: "There is also evidence that the creative and media sector is increasingly spreading from the city fringe into the main city core with 32,655 sq ft of deals recorded in 2013, representing 10% of take-up in the CBD."

The total office take-up for Liverpool city region combining out-of-town markets, city fringe and central business district was 534,100 sq ft, flat against 534,750 sq ft in 2012.

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