OFFICE lettings across UK regional city centres are showing signs of improvement with Liverpool leading the way, a study shows.
GVA’s latest Big Nine report records take-up in the third quarter of this year totalled 1.12m sq ft – 10% above the quarterly average.
Liverpool city centre recorded the biggest letting of the period with law firm Weightmans agreeing to take 94,000 sq ft at Bruntwood’s Plaza.
However, of the nine cities in the report – which also included Bristol, Birmingham, Cardiff, Edinburgh, Glasgow, Leeds, Manchester and Newcastle – Liverpool was fifth in terms of overall take-up.
Top was Birmingham at more than 220,000 sq ft, Manchester was second at almost 157,000 sq ft with Liverpool recording a take-up of a little under 120,000 sq ft.
There is also growing concern at GVA, as well as among other commercial agents, at the shrinking availability of grade A space across central business districts.
In Liverpool, the only significant volume of grade A space is at St Paul’s Square and 20 Chapel Street, although refurbished accommodation specialists like Bruntwood and Downing would insist they can offer space of grade A quality.
