June 2013 Liverpool city centre office market
The Liverpool city centre office market is essentially a three tier market and the potential shortage of both new and Grade A refurbished space contrasts with an oversupply of lower grade refurbished and unrefurbished stock.
With a limited amount of good quality accommodation remaining, only two major refurbishment schemes currently onsite, occupiers could be left with fewer options than originally anticipated.
Particularly with the anticipated increase in demand and take-up levels, and no new or Grade A refurbishment schemes scheduled to start on-site in the foreseeable future. Also the majority of developers/funds are unable or willing to bring forward product without significant pre-commitment.
Our analysis of existing requirements and occupiers with forthcoming lease events reveals a fairly healthy pipeline of potential future demand from occupiers who may look to relocate to more efficient, better specified and more sustainable office accommodation with large floorplates. Therefore, the diminishing supply of new and Grade A refurbished space means that potential occupiers will be faced with an ever decreasing choice.
Within this report we look to illustrate the supply and demand dynamics within the city and identify the market “tipping point”.
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