10/3/2009 Strong interest in refurbished suites

Liverpool’s largest private commercial landlord, Downing, is reporting strong interest in its refurbished office suites at the historic Port of Liverpool Building.

Downing is on target to bring more than 20,000 sq ft of newly refurbished office suites to the market during 2009, following the completion of a record-breaking £10 million restoration project at the waterfront landmark.

The company has revealed it is in advanced talks with businesses interested in letting space in the Grade II* Listed building.

The restoration project, which completed in January, was one of the UK’s largest privately-funded refurbishments of a listed building. Works were undertaken throughout the building, with the iconic dome returned to its former glory and its inner glass and marble cleaned and restored for the first time since the building was damaged in the Blitz.

Robin Ellis, senior surveyor at Downing, said: “The high level of interest in the building is a testament to the quality of the refurbishment. Liverpool’s occupier market is holding up well and the credit crunch hasn’t changed the fact that leases still expire and tenants are looking to achieve best value.

“The extensive repair and upgrade works to the Port of Liverpool Building’s fabric and envelope, mean that our valued occupiers can enjoy this magnificent building, safe in the knowledge that it has been future-proofed - giving them valuable confidence and certainty on costs.”

Downing began work in 2007 to restore the building’s limestone exterior, internal terrazzo flooring and marble wall cladding and to remove, refurbish and reinstate its stunning stained glass windows.

The company has also introduced new lifts, upgraded internal and external lighting, as well providing a new disabled access. Occupiers can also link into a new cooling system, with state-of-the-art technology that allows tenants to opt-in to a centrally-managed system.

The strength of the refurbished space saw the Port of Liverpool Building become one of Liverpool’s most successful commercial properties in 2008, with some 20,000 sq ft of space let to global brands including DHL and shipping giant Hapag-Lloyd.

George Downing, chairman of Downing, said: “There are few buildings in the UK as iconic as the Port of Liverpool Building. It boasts a level of grace and quality that would be impossible to recreate today.

“When we became proud custodians of the building we made a commitment to restore it to its rightful place as one of Liverpool’s premiere office buildings. The stunning results of the restoration combined with the letting success we have enjoyed thus far are proof that we have delivered on this promise.”

Property group Downing acquired the Port of Liverpool Building in 2001. Joint agents Knight Frank and CBRE are currently marketing two refurbished suites of 3,035 sq ft and 6,251 sq ft on the building’s first floor.