April 30th, 2019
The UK’s leading multi-retailer redemption product provider to corporate and consumer markets, Park Group PLC (Park Group), has exchanged contracts with Canmoor to secure 25,982 sq ft at 20 Chapel Street, in what marks Liverpool’s largest office deal this year.
We been advising Park Group on its estate strategy, which will see the company take on a 10-year lease on the third and fourth floors, whilst retaining its existing site on Valley Road Industrial Estate in Birkenhead. Worthington Owen and CBRE acted on behalf of Canmoor for 20 Chapel Street.
Speaking about the deal, Ian O’Doherty, CEO of Park Group, said: “The relocation of our core business to Liverpool is another important and tangible step towards us delivering the new strategic plan for the company. This major investment exemplifies our commitment to growth, to driving our business forward and to giving our fantastic Park people an excellent work environment in which to flourish.”
Chris Lloyd, investment director, continued: “We guided Park Group through an thorough process identifying potential sites in Liverpool and the north west region. 20 Chapel Street met all of the criteria and we were pleased to find the best solution to facilitate the company’s on-going expansion.”
Sam Walker, director at Canmoor, concluded: “As the largest Liverpool office deal of 2019 to date, securing such a well-known and credible business as Park Group is a massive coup for 20 Chapel Street and is proof that the appetite for high-quality office accommodation in the city offering a wide range of services and amenities to occupiers is still strong.
“This latest letting takes the 15-storey building to 90% occupancy with a diverse mix of high-profile tenants. With limited availability of Grade-A space across the city, we expect interest to remain high for the remaining two floors.”
Park Group PLC’s professional team included Brabners LLP on the legals and Momentum Property Solutions Limited advising on the fit out.