Christmas savings firm Park signs Liverpool’s biggest office deal of 2019

Park, founded by former Everton FC and Tranmere Rovers FC owner Peter Johnson, is to take 25,982 sq ft at 20 Chapel Street in the city’s central business district. Tony McDonough reports

Park Group is to take space across two floors at 20 Chapel Street

 

One of Merseyside’s best-known companies – Christmas savings and multi-retailer voucher provider Park Group – has agreed what is the biggest office letting in Liverpool so ar this year.

Stock market-listed Park, founded by former Everton FC and Tranmere Rovers FC owner Peter Johnson, is to take 25,982 sq ft at 20 Chapel Street after exchanging contracts with the building’s owner Canmoor.

Property firm Glenbrook has been advising Park Group on its estate strategy, which will see the company take on a 10-year lease on the third and fourth floors, whilst retaining its existing site on Valley Road Industrial Estate in Birkenhead. Worthington Owen and CBRE acted on behalf of Canmoor for 20 Chapel Street.

The news of the letting comes on the day Park released a trading update ahead of its full year results to March 31, 2019. The Birkenhead firm, which employs around 250 people, said the results would be in line with expectations but added pr-tax profit would be below target due to new accounting standards.

Park, which offers prepaid gift vouchers, Christmas savings pre-paid cards and corporate incentives – as well as its traditional Christmas hampers operation – also said its new strategic business plan would impact the business by an additional £500,000.

Speaking about the deal to take space at 20 Chapel Street, Park chief executive Ian O’Doherty, said: “The relocation of our core business to Liverpool is another important and tangible step towards us delivering the new strategic plan for the company. This major investment exemplifies our commitment to growth, to driving our business forward and to giving our fantastic Park people an excellent work environment in which to flourish.”

Sam Walker, director at Canmoor, added: “As the largest Liverpool office deal of 2019 to date, securing such a well-known and credible business as Park Group is a massive coup for 20 Chapel Street and is proof that the appetite for high-quality office accommodation in the city offering a wide range of services and amenities to occupiers is still strong.

“This latest letting takes the 15-storey building to 90% occupancy with a diverse mix of high-profile tenants. With limited availability of grade A space across the city, we expect interest to remain high for the remaining two floors.”

Park Group’s professional team included Brabners on the legals and Momentum Property Solutions advising on the fit out.

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