Liverpool
Key stats
TOTAL TAKE-UP IN QUARTER (SQ FT)
+56% CHANGE ON LAST QUARTER
VACANCY RATE
-62BPS CHANGE ON LAST QUARTER
PRIME RENT PER SQ FT
0% QUARTERLY CHANGE
TAKE-UP (SQ FT)
Source: Avison Young
Office take-up in Q2 2025 increased on a subdued Q1 by 56%, rising to 55,000 sq ft. However, quarterly take-up was 57% below the 10-year average highlighting what has been a quiet start to the year for the Liverpool office market.
The Government and Services sector saw the greatest level of take-up following the largest deal of the quarter. This saw Liverpool John Moores University let 24,400 sq ft of office space at City Square on a short term lease while teaching space elsewhere is under refurbishment. Take-up elsewhere was comprised of smaller professional services firms letting space in the city centre.
Given the current lack of space under construction, office vacancy rates decreased from 6.4% to 5.8%. At this level, office availability remains the lowest in the Big Nine with the market particularly suffering from critically low Grade A availability. This placed upwards pressure on prime rents, which remain at £29.50 per sq ft, while rent frees remain at 21 months for a 10-year lease.
NOTABLE DEALS
Source: Avison Young
TAKE-UP BY SECTOR
Source: Avison Young
ANNUAL TAKE-UP (SQ FT)
Source: Avison Young
AVAILABILITY (SQ FT)
Source: Avison Young/CoStar
DEVELOPMENT PIPELINE (SQ FT)
Source: Avison Young/PMA, Glenigan
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