Liverpool
Take-up
TOTAL TAKE-UP IN QUARTER (SQ FT)
CHANGE ON LAST QUARTER
CHANGE ON 10 YR QUARTERLY AVG
TAKE-UP (SQ FT)
Source: Avison Young
Q4 take-up totalled 143,242 sq ft, 5% below the 10-year Q3 average. This brought total 2023 take-up to 439,807 sq ft, 15% below the 10-year average.
City centre take-up was stronger in Q4 at 2% above the long-term average, whereas out-of-town take-up was 35% below.
Key deals included:
- The Crown Prosecution Service’s 27,975 sq ft lease at Walker House;
- Optical Express’ 9,172 sq ft lease at Exchange Station;
- Avalanche Studio’s 9,452 sq ft lease at No. 5 St Paul’s Square.
The leading sectors over the past four quarters were government and services, TMT and creative, and financial services, together accounting for 84% of take-up.
The city’s prime rent remained unchanged from last quarter at £25.50 per sq ft.
NOTABLE DEALS
Source: Avison Young
PRIME RENT
£25.50
Per sq ft
0%
Quarterly change
Source: Avison Young
0%
12 month change
24
Rent free months (10-year lease)
TAKE-UP BY SECTOR
Source: Avison Young
ANNUAL TAKE-UP (SQ FT)
Source: Avison Young
Availability
AVAILABILITY RATE (SQ FT)
CHANGE ON LAST QUARTER
0bps
CHANGE ON LAST YEAR
0bps
AVAILABILITY (SQ FT)
Source: Avison Young/CoStar
The availability rate remained at 5.4% but premium quality space is severely undersupplied, with the grade A availability rate at 0.1%.
Development pipeline
DEVELOPMENT PIPELINE (SQ FT)
Source: Avison Young/PMA
There is a total of 176,756 sq ft available space undergoing refurbishment, including 50,000 sq ft at No. 1 St Paul’s Square which is due to complete imminently, 21,756 sq ft at No. 10 and No 12 Princes Dock, and The Martins Bank Building which is expected to deliver 105,000 sq ft of grade A refurbished space at the end of 2025.
Investment
TOTAL INVESTMENT VOLUMES
CHANGE ON LAST QUARTER
CHANGE ON 10 YR QUARTERLY AVG
PRIME YIELD
INVESTMENT VOLUMES
Source: Real Capital Analytics, Avison Young
INSIGHT
- Lorem ipsum dolor sit amet, consectetur adipiscing elit.
- Etiam non lectus nec risus faucibus euismod sed tempus tellus.
- Quisque malesuada lorem nec mauris faucibus, nec ornare erat egestas.
- Aliquam vehicula libero ac porta luctus.
- Vivamus pharetra neque sed pulvinar aliquet.
TOP DEALS
This report has been prepared by Avison Young for general information purposes only. Whilst Avison Young endeavours to ensure that the information in this report is correct it does not warrant completeness or accuracy. You should not rely on it without seeking professional advice. Avison Young assumes no responsibility for errors or omissions in this publication or other documents which are referenced by or linked to this report. To the maximum extent permitted by law and without limitation Avison Young excludes all representations, warranties and conditions relating to this report and the use of this report. All intellectual property rights are reserved and prior written permission is required from Avison Young to reproduce material contained in this report.