Downing expands HQ with Liverpool office move

Developer Downing has signed a lease for new headquarters at the recently-refurbished 1 Old Hall Street in Liverpool. The firm will occupy the fifth and sixth floors, measuring 9,665 sq ft, up 50% on its previous workspace at 5 Myrtle Street. Asking price for the space stood at £18.5 per sq ft, according to Radius data. The relocation is set to boost Downing’s growth following the sale of two purpose-built student accommodation schemes in London and Edinburgh. It plans to accelerate the expansion of its £1.5bn pipeline, spanning over 5,000 new student beds across Manchester, Leeds, Bristol, Brighton, Newcastle and London. 1 Old Hall Street, spanning 180,000 sq ft and located directly opposite the entrance to Moorfield Station, has undergone a £5m refurbishment, which has included the replacement of the original facade, a new roof feature entrance and phase one of the common area refurbishments. The second phase of the common area upgrades, including new tenant amenities, is expected to start shortly, including cycle racks and lockers, as well as improved showers and toilet facilities. Other tenants include Bond Turner, Liverpool Civil Law, Rasul & Howell, Pret a Manger, Out to Lunch, Kenyon McAteer Solicitors, UniCourse, Chroda, and Dallas and Richardson. Downing joint chief executive Sally O’Brien said: “We are excited to move in and become a part of the community.” This letting leaves a 7,000 sq ft office available on the first floor at 1 Old Hall Street that is about to be refurbished to allow up to four new grade-A suites, ranging from 700 sq ft to 3,500 sq ft. Downing’s previous office space at 5 Myrtle Street, where it has been based since 2006, has been sold to Liverpool game developer Ripstone. Worthington Owen advised on the deal. See more lettings information for Liverpool>> To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews Photo © Downing