BUSINESS funding provider Merseyside Special Investment Fund (MSIF) is leaving its waterfront home.
The firm, which has been based in the Cunard Building for several years, has agreed to take 2,500 sq at Exchange Court, next to Liverpool Town Hall.
The building was formerly owned by Royal Bank of Scotland before being bought and refurbished by Bruntwood.
MSIF has cut staff over the past couple of years and now employs just 12 people.
It was dealt a blow last year when it failed in its bid to run the North West Business Loan Fund, part of the Euro-funded North West Fund.
MSIF was set up in 1996 to manage money from the European Regional Development Fund, part of the Objective 1 programme, that was intended to help small businesses in Merseyside.
Between 1996 and 2008 (when its original funds closed for investment), MSIF invested more than £134m in 1,356 businesses.
This helped create and preserve 13,511 jobs and brought in excess of £245m private sector investment to the region.
Despite missing out on the North West Business Loan Fund, it continues to operate its own £25m legacy fund.
MSIF’s lease at Cunard Building has expired and it is believed the space at Exchange Court is a less expensive option.
Chief operating officer Lisa Greenhalgh said: “Agreeing such a long lease underpins our commitment to the future.
“We have already pledged to invest £25m in local small firms over the next five years through our Merseyside Loan & Equity Fund, and, in our capacity as a Community Development Finance Institution (CDFI), we also manage the Merseyside Small Loans for Business Fund on behalf of the NWDA.”Š
Exchange Court is now 70% let and tenants include RBS, financial recruiters Marshall Moore and solicitors Beech Jones De Lloyd.
Bruntwood has spent £2.3m refurbishing the office space.
Regional director David Guest said: “This is a significant letting for Bruntwood, and it’s testament to the quality of the refurbishment works and the building’s unique character that we have attracted such a renowned organisation. We have experienced a strong first half of 2011, with many new lettings across our Liverpool city centre portfolio, and Exchange Court is attracting further interest.”
