Liverpool City Council has allocated a £15 million investment package to kickstart a major Grade A office project in the heart of the city’s Commercial Business District. The proposed Pall Mall scheme, if approved, is estimated to cost £55 million and will feature an 8-storey office building along with a new urban park, scheduled to open by summer 2028. This development would mark the first Grade A office venture in the city’s business district in over 16 years, representing a significant milestone for the local commercial landscape.
Situated within the proposed area for the Locally Led Development Corporation, the Pall Mall project is a key element in the city’s rejuvenation strategy. The City Council, in collaboration with MHCLG, aims to establish an accelerated development zone overseen by the recently appointed Imagine Liverpool regeneration partnership board. Subject to MHCLG approval, funds from the city’s Strategic Futures program will be utilized to advance the Pall Mall initiative, covering an area spanning from Bramley Moore Dock to Paddington Village.
Despite facing viability challenges and a decrease in office demand post-pandemic, Liverpool City Council views the investment as crucial to reinvigorate the city’s office market and stimulate economic growth. Kier Property Developments Ltd, the appointed developer, has obtained planning consent for phase one, intending to deliver 111,500 sq ft of office space and a 0.5-hectare green space. The building is designed to be highly energy efficient, aiming to achieve BREEAM excellent and EPC A ratings, making it the first net-zero office development in the Liverpool City Region.
In response to the rising demand in Liverpool’s office sector, the Council is poised to capitalize on the recent trend of tenants seeking Grade A/B buildings. By providing a rent guarantee for 15 years on any unlet space, Liverpool City Council aims to enhance the development value and attract initial occupiers, ensuring the viability of the project. Councillor Nick Small emphasizes the significance of the proposed investment in boosting investor confidence and addressing the city’s office supply challenges. With its Strategic Futures program, Liverpool is strategically positioning itself to attract major companies and fuel economic growth through projects like the Pall Mall scheme
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