Wealth manager moves into St Paul’s Square

Standard Life has signed another tenant at 5 St Paul's Square, Liverpool. Private wealth management company Cheviot Asset Management has chosen the building for its first office outside London.

Cheviot, launched in 2006 by former UBS Laing & Cruickshank chief executive Michael Kerr-Dineen, has £3.5bn of assets under management. The company has taken 2,900 sq ft at £18.50/sq ft on a ten-year lease.

Kerr-Dineen said: "Liverpool has undergone a remarkable renaissance in the last five years. Its national and international image has improved immeasurably and we're looking forward to playing our part in helping that reputation improve even further."

Max Steinberg, chief executive of economic development agency Liverpool Vision, said: "Cheviot's decision is recognition of the pre-eminent position Liverpool holds with regard to wealth management expertise and is a vote of confidence in the city's long-established track record."

Number 5 St Paul's Square was forward funded by Standard Life in a deal with developer English Cities Fund, itself a joint venture of Legal & General, Muse Developments and the Homes & Communities Agency.

Other tenants in the building include law firm DWF and surveyor Edward Symmons.

Letting agents are CB Richard Ellis and GVA. Debbie Reynolds Property advised Cheviot.