Commercial-Office-Market-Review-2016

2
WATERLOO
BOOTLE
OUT OF TOWN
NORTH LIVERPOOL
M58
M6
CITY
FRINGE
OUT OF TOWN
KNOWSLEY
OUT OF TOWN
ST HELENS
COMMERCIAL
DISTRICT
M57
RIVER MERSEY
OUT OF TOWN
WAVERTREE
M62
OUT OF TOWN
SOUTH LIVERPOOL
AT A
GLANCE
OVERALL OFFICE TAKE-UP FOR THE LIVERPOOL
CITY REGION WAS 523,456 SQ FT IN 2016, A 9.3%
FALL ON THE 2015 FIGURE OF 576,847 SQ FT.
THE OVERALL TAKE-UP IN THE CITY CENTRE
(COMMERCIAL DISTRICT AND CITY FRINGE)
ACCOUNTED FOR 386,981 SQ FT, WHICH IS UP 1%
WHEN COMPARED TO 2015.
TOTAL OFFICE TAKE-UP IN THE COMMERCIAL
DISTRICT IN 2016 WAS 342,714 SQ FT, WHICH IS
UP BY 13% FROM 2015 AND WAS THE SECOND
HIGHEST TAKE-UP SINCE 2009.
SMALLER LETTINGS CONTINUE TO DOMINATE THE
MARKET IN THE COMMERCIAL DISTRICT, WITH
51% OF ALL LETTINGS UNDER 1,000 SQ FT.
OFFICE SUPPLY CONTINUES TO FALL
IN THE COMMERCIAL DISTRICT, WITH
1,293,958 SQ FT REMAINING.
GRADE B/B* OFFICE SPACE MARKED
THE MAINSTAY OF THE COMMERCIAL
DISTRICT, ACCOUNTING FOR 97% OF
TRANSACTIONS AND 94% OF TOTAL
TAKE-UP.
TAKE-UP IN THE CITY FRINGE AREA WAS
44,267 SQ FT IN 2016, DOWN FROM
81,067 SQ FT IN 2015. BUT THE NUMBER
OF DEALS IN 2016 INCREASED BY 57%.
THERE WAS 942,532 SQ FT OF VACANT
OFFICE SUPPLY IN THE CITY FRINGE
AND OUT OF TOWN MARKETS IN 2016,
REPRESENTING A DECREASE OF 217,016
SQ FT FROM 2015.
2016 SAW OVER 1.3 MILLION SQ
FT OF INVESTMENT TRANSACTIONS
COMPLETED IN THE COMMERCIAL
DISTRICT. THE LARGEST DEAL WAS THE
SALE OF EXCHANGE FLAGS (350,000 SQ
FT) TO SHELBORN ASSET MANAGEMENT.