Office take-up in Liverpool totalled 78,100 sq ft in Q1 2026, 31% below the previous quarter and 37% below the 10-year average. This was due to an absence of deals over 10,000 sq ft albeit there are larger requirements currently in the market, which should improve take-up later this year.
Take-up of floorplates under 10,000 sq ft remained within historic averages. The largest deal of the quarter saw accountancy firm RSM let 9,900 sq ft at The Plaza to relocate and expand from nearby 20 Chapel Street.
Office vacancy fell 30 bps to 5.8%, the lowest in the Big Nine, driven by the removal of space by take-up. At 0.3%, grade A vacancy in Liverpool also remains the lowest in the Big Nine.
Both prime rents and incentives remain unchanged in Liverpool. With headline rents at £29.50 per sq ft and rent-free periods at 24 months for a 10-year lease.