New tenant for St Paul’s Square Liverpool

Posted on by John Cronin

A wealth management company is the latest tenant to take floor space in a prime Liverpool office building.

St Paul's SquareCheviot Asset Management has signed a 10-year lease for floor space at 5 St Paul’s Square (pictured – website) in the commercial district of Liverpool city centre. Cheviot has taken 2,900 sq ft at a rental price of £18.50/sq ft, which is a slight discount to the quoted headline rental of £19 / sq ft.

St Paul’s Square is a mixed-use development amounting to 400,000 sq ft and includes offices, residential and retail space. Number 5 St Paul’s Square is a speculative development funded by a joint venture between Standard Life Investments and developer English Cities Fund. Other tenants include law firm DWF and commercial surveyor Edward Symmons.

Number 5, constructed during phase 2 of the St Paul’s Square development, offers 133,000 sq ft of Grade A floor space over 8 storeys.  Largest floor plates are approximately 20,300 sq ft. The building was completed in June 2008 and had a development cost of £20m. The building has achieved a BREEAM rating of ‘Very Good’. Architects for the building were RHWL.

Commenting on the letting, Max Steinberg, chief executive of economic development agency Liverpool Vision, said: “We are delighted that Liverpool continues to attract businesses of this calibre … Cheviot’s location in St Paul’s Square is also a welcome endorsement of this new Grade A office space and underlines how vibrant and attractive Liverpool’s Commercial District is.”

The final phase of the project is Number 4, St Paul’s Square, an 8-storey 109,000 sq ft office building. Scheduled for completion in summer 2011, the speculative scheme will be the first office building in Merseyside to achieve a BREEAM rating of ‘Excellent’. Developers ECF successfully secured £8.8m of public funding for the development from both the Northwest Development Agency and the Northwest European Regional Development Fund.

Marketing agents include CBRE.

 

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