Liverpool commercial property in location shift - commercial mortgages

26 March 2008

In news which may interest those seeking commercial mortgages, a report has found that those seeking office space in Liverpool have been increasingly looking away from the city centre.

The publication, by Liverpool Vision and Merseyside Property Forum, said that nearly half the take-up of property space in the city last year occurred outside the central business district, the Liverpool Daily Post reports.

Among the other parts of the city which saw a major office space take up were the midtown area - which includes the University and Wavertree Technology Park - where 96,975 sq ft was bought or rented and the out-of town area of South Liverpool, Knowsley and Sefton where 286,345 sq ft was taken up.

Chairman of The Merseyside Property Forum Stuart Keppie said the media and creative industries were responsible for much of the take-up, which he believed reflected the city''s 2008 European Capital of Culture status.

Out-of-town office take-up may also increase in Greater Manchester, according to director of development and regeneration at Bolton Council, Keith Davies.

He told the Bolton News the town could offer office space at £17 or £18 per sq ft, compared with £30 per sq ft for similar accommodation in neighbouring Manchester.