Direct Line Group (DLG) has agreed a 10-year lease on almost 17,000 sq ft of office space at Valeo Capital’s 1 St Paul’s Square in Liverpool. DLG has taken the fourth floor of the building to service a new contract with Motability Operations.
Valeo kickstarted the repositioning of the eight-storey, 1 St Paul’s Square in November last year, to provide circa 50,000 sq ft of Grade A office space, a fully refurbished central atria and a new state-of-the-art cycle storage facility.
There is now around 33,000 sq ft of Grade A office space available in the building on two upper floors in suites from circa 6,000 sq ft. Accommodation is also available from circa 2,000-8,321 sq ft at ground floor level for E Class uses.
Camilla Bird, head of UK asset management, Valeo Capital, said: “We are delighted DLG have chosen 1 St Paul’s Square as their new Liverpool office. The building is about to go through a transformation, with a new reception and best in class amenities, with the aim of creating some of the best office space in Liverpool.”
Neil Kirkham, senior director, CBRE Liverpool, which advised Valeo, added: “We are delighted to secure this deal with a high-profile, respected insurance company just weeks after the repositioning works commenced at 1 St Paul’s Square. This is testament to Direct Line Group seeing our vision for the building and recognising the high quality that will be delivered on completion. This transaction very much substantiates our client’s decision to invest in the repositioning of 1 St Paul’s square and attests to the quality of product and amenity which is being delivered.”
Cushman and Wakefield acted for DLG.
