Proposed scheme will quadruple the supply of space in Liverpool’s commercial district, which has seen available capacity drop to ‘critical levels’, and create more than 1,800 jobs. Tony McDonough reports.
A £200m plan to replenish Liverpool’s stock of grade A office space and create more than 1,800 jobs has moved a step closer.
Liverpool City Council has appointed a leading team of property developers to begin a “game changing” transformation of the city’s business district.
Kier Construction and CTP have won the tender to redevelop Pall Mall Exchange providing up to 400,000 sq ft of grade A office space over three new buildings.
Quadruple supply
The scheme will quadruple the supply of space in Liverpool’s commercial business district, which has seen available capacity drop below 100,000 sq ft.
Click to read how Liverpool’s grade A office supply has fallen to critical levels
Commercial agents in Liverpool have been warning for some time that a lack of prime office space in the central office core was falling to “critical” levels.
In the past two years more than 1m sq ft of office space has been lost as older buildings have been converted to leisure and residential use.
Mixed-use
The city council will also explore with Kier on how they can work with the new owner of the adjoining seven-acre car park to deliver a comprehensive redevelopment of this prime city centre site.
The complementary mixed-use scheme would also include a hotel, a new car park, leisure uses and up to 2,000 new homes.
In total it is estimated the two phase development, which lies within the city centre’s Enterprise Zone, would be worth £200m.
The scheme is one of 175 identified developments, either on site or in the pipeline, which could bring more than £11bn of investment in to Liverpool.
City blueprint
The first phase at Pall Mall Exchange, part public realm and part car park, was once part of the Exchange Street station, which closed in 1977 and is now an office complex.
The three-acre development would help meet demand for high spec office accommodation in the commercial business district, as highlighted in the city centre’s 15 year blueprint for growth.
It is anticipated that a planning application will be submitted later in the year for the site, after a period of consultation.
The second phase site would connect to St Paul’s Square, which underwent a £120m development in 2011 and is now home to major companies such as Atos, DWF, Hill Dickinson, US Airways, Bosch, Investec, Maersk, Santander and Weightmans.
Perfect site
Mayor of Liverpool Joe Anderson said: “We know we need more top quality office accommodation in Liverpool and this site is perfect because it is all about location, location, location.
“And having a partner who has has an international reputation for delivering high profile schemes with flair and imagination is a great boost to our plans.
“As a growing city, it is vital we have the right office space available in the right place and Pall Mall is part of a natural expansion of the commercial district.
“We’ve already seen huge success in securing the Northern headquarters of The Royal College of Physicians (RCP) at the expanded Knowledge Quarter, and this is another opportunity to create accommodation that will attract marquee businesses offering high quality jobs.”
Kier Property and CTP were supported in their bid by leading master planners and architects Allies & Morrison, along with Curtins, G&T, Ernest Griffiths, Eversheds and SWECO. CTP and Kier Property were advised by Colliers and Worthington Owen.to work, visit and live in.”