Lone Star’s Exchange Flags in Liverpool, which it acquired as part of its £5.2bn purchase of the Project Rock and Project Salt loan books from IBRC in 2014, has seen a flurry of lettings.
The previously distressed 360,000 sq ft office complex had 140,000 sq ft vacant when Lone Star acquired it, but that figure has now fallen to 65,000 sq ft.
The loan against the property was included in the sale as previous owner UK Land & Property was in administration.
Since January, marine services firm Brookes Bell has signed for 11,500 sq ft and wealth manager St James’s Place has signed for 7,500 sq ft. They are both moving out of Castlewood Securities’ Martins Bank Building, which has been bought by Principal Hayley Group to be converted into the Liverpool’s first five-star hotel.
Capita and White Young Green have also completed deals this year to take 3,800 sq ft each at Exchange Flags, where quoting rents are £15 per sq ft.
Other tenants in the building include Jackson & Canter, Brabners, Deloitte, Regus and Blankstone Sington.
Worthington Owen and Keppie Massie are joint letting agents on the scheme.
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