LIVERPOOL property group Downing is understood to be on the verge of clinching the biggest office letting in the city in living memory.
LDP Business understands that owner Downing could announce a massive 200,000 sq ft deal with Government department the UK Border Agency at its flagship Capital Building within a month.
Talks are still ongoing but regeneration agency Liverpool Vision, which currently occupies 11,000 sq ft on half of The Capital’s fifth floor, has offered to relocate to the 10th floor of the Old Hall Street block to facilitate the deal.
A source close to the talks said the agency was keen to consolidate its six Liverpool locations – Cunard Buildings, India Buildings, Liverpool JLA, Martins Bank Building, Reliance House and The Plaza – into one site.
The Agency currently employs about 1,000 staff around Liverpool, but The Capital would provide space for more jobs here. The Government is keen to save millions of pounds by relocating work out of expensive London offices to the regions.
If the deal is sealed, Vision could relocate within The Capital by early next year, allowing the start of fitting-out for the agency.
Stuart Keppie, of leading Liverpool commercial property firm Keppie Massie, said: “Something in the region of 200,000 sq ft would certainly be the biggest letting in Liverpool for the past 30 years. Prior to this, the biggest were 130,000 sq ft for Merseytravel’s new headquarters at Mann Island, and Hill Dickinson’s offices, at St Paul’s Square.”
A spokesman for Downing, owned by George Downing, said: “While we cannot comment on specific enquiries, we are advancing discussions with a number of potential occupiers for space at The Capital.
“The building continues to appeal to organisations with a requirement for large floorplates, as well as smaller occupiers.
“Our refurbishment project is ongoing and we plan to bring further suites to the market during 2009.”
Acting regional director of the UK Border Agency, Eddy Montgomery, said: “We are committed to maintaining and developing the regional presence of UKBA in Liverpool and the North West.
“No decision has been made on the final accommodation requirements yet but, once it has, there will be a formal announcement.”
TONY McDONOUGH: PAGE 8;
OPINION – MAIN PAPER: PAGE 12
