Exchange Station in Liverpool is reporting more than 20,000 sq ft of new deals including new lettings and expansion by existing tenants. Tony McDonough reports
Entrance to Exchange Station in Tithebarn Street in Liverpool. Picture by Tony McDonough
Deals totalling more than 20,000 sq ft have been secured by landlord CEG at Exchange Station in Liverpool.
Offering 193,000 sq ft, Exchange Station is an office development front onto Tithebarn Street in the city’s commercial district. For 150 years until its closure in 1977, Exchange was a major rail terminal with rail services to the north of England and Scotland.
Two existing tenants, Freeths solicitors and accountancy firm, Macintyre Hudson, have expanded taking 2,200 sq ft and 4,500 sq ft respectively. Antony Hodari solicitors has also moved in, taking a 1,200 sq ft let ready studio.
WSP and Bspoke Group have both relocated into Exchange Station on a let ready custom design and fit-out basis. These deals provide bespoke designed workspace without any upfront capital cost or the headache of project managing its delivery.
Engineering firm WSP has agreed a turnkey 7,500 sq ft office letting and virtual insurance specialist, Bspoke Group, is taking 4,800 sq ft, with everything from design and delivery to maintenance being outsourced to CEG.
Alex Goode, investment manager at CEG, said: “We are delighted to welcome five fantastic tenants to Exchange Station. As well as let ready and traditional offices, we were also able to custom design and fit out space for WSP and Bspoke Group.
“Our experienced in-house team managed the process from start-to-finish, as we know our buildings better than anyone, we could design the most efficient space, working in harmony with existing structures and systems.
“This provided space designed to enhance productivity, health and wellbeing and meet sustainability aspirations. With the CEG team managing the whole process, this enabled both companies to focus on their core business.”
Custom designed and fit out office space is the norm in the US, and as with most transatlantic trends it is now sweeping Britain. Over the last year, CEG has delivered hundreds of let ready custom design and fit-out deals.
Engineering firm WSP has taken space at Exchange Station in Liverpool
Avison Young and Hitchcock Wright & Partners market the building on behalf of CEG. Ian Steele, Principal at Avison Young, added: “Most companies don’t employ experts at design and fitting out workspace.
“They have a business to run and staff to manage, so a landlord willing to deliver this, especially one that will amortise the costs within the lease, can help to clinch the deal.
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“A design and fit out contract is becoming more appealing and can often mean savings for the end occupier as the landlord will have more experience, exposure and buying power. This, coupled with no upfront cost and risk for the occupier, is an added bonus.”
Brian Ricketts, partner at Hitchcock Wright, also said: “CEG’s vast experience in delivery turnkey office solutions, including the bespoke space they created at Exchange Station for Liverpool John Moores University, ensured the new tenants were in great hands.”
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