Hapag-Lloyd has become the most recent tenant to sign for space at 1 St Paul’s Square, Liverpool, following its refurbishment.
The container shipping company agreed a 10-year lease for 8,858 sq ft of contemporary office space, owned and operated by Valeo Capital. The asking price for rent at 1 St Paul’s Square is £23 per sq ft.
Hapag-Lloyd will relocate its staff in the city from No 1 Tithebarn Street in April this year, to facilitate continued regional growth.
This latest letting follows a raft of recent deals including leases to Direct Line, law firm Keoghs, and the renewal of 46,922 sq ft with Hill Dickinson.
The eight-storey building at 1 St Paul’s Square, spanning 131,247 sq ft of grade-A office space, underwent a comprehensive refurbishment in 2023.
This was part of wider works, undertaken by English Cities Fund, across all of St Paul’s Square, which is now home to a number of law firms, including Weightmans and DWF, alongside financial and professional services occupiers, including Santander, Marsh/Mercer, Investec and US Airways.
CBRE represented Valeo, while B1 Real Estate acted on behalf of Hapag-Lloyd.
B1 Real Estate director Jonathan Baucher said: “After an extensive market search, the recent repositioning works carried out at 1 St Paul’s Square, coupled with the building’s location and flexibility and efficiency of the floorplate created a real appeal to the business.”
Neil Kirkham, senior director and head of CBRE’s Liverpool office, said: “There remains just 31,000 sq ft available office space over ground, first and second floors, with the ground floor offering opportunities for a variety of uses, such as retail, bar or restaurant, with suites from 2,000 sq ft to 8,500 sq ft.”
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Photo © CBRE/McCoy Wynne
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