Video game developer Wushu Studios signs deal to relocate its 150-strong team from the Baltic Triangle to Liverpool commercial district. Tony McDonough reports
Video game developer Wushu Studios is to relocate its team into Exchange Flags in Liverpool city centre from its current home in the Baltic Triangle.
Wushu, one of multiple video game ventures in the city, has agreed a 15-year lease on 13,300 sq ft of office space at Walker House which is in the heart of the city’s commercial district and is owned by Ashtrom Properties.
Founded in 2017, Wushu employs 150 people and its new home is significantly bigger than the 5,000 ft space it occupied in Parliament Street.
Several of the video game titles the team has worked on are focused on motorsports and are for platforms including Playstation and Xbox. Titles include MotorStorm, IndyCar Series and Driveclub.
Studio head Alan McDermott said: “Liverpool serves as the perfect backdrop for technology and creativity, making Walker House with its central location the ideal setting and a long-term home for our next chapter,” he said.
“This move is not just about the physical space, it’s also what it represents – our commitment to everyone at Wushu and the importance of creating a positive work environment. We’re eager to embrace this change and look forward to what is next.
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Ashtrom acquired Exchange Flags from Shelborn Asset Management for £68m in 2019. Most recent accounts show the property’s value has increased to almost £71m since the purchase. Annual rental income is just under £4.4m.
Worthington Owen represented Ashtram in the latest deal. CBRE acted for Wushu. Guy Lewinsohn, chief executive of Ashtrom Properties, added: “Wushu Studios are precisely the type of creative and modern business that we want to attract to Exchange Flags.
“We continuously invest in the building and can see the benefits of our hard work to attract businesses from the creative sector are bearing fruit.”