Optimism Over Liverpool’s Office Market Being On A Stronger Footing Compared To This Time Last Year

LIVERPOOL CITY CENTRE, CITY OF LIVERPOOL, LIVERPOOL CITY REGION.

Fisher German Signifies Optimism Regarding Liverpool’s Office Market Being On A Stronger Footing In Comparison To This Time In 2025

Adam Fleming, Senior Surveyor at Fisher German’s Liverpool office (Credit: Supplied/Image was provided to The Liverpudlian with permission to share, courtesy of the Publicist on behalf of their client. We make no claim to this content).

Liverpool's office market started 2026 on a stronger footing than this time last year, with transactional activity increasing year-on-year and demand continuing to centre around flexible, high-quality workspace.

Take-up for the first quarter of the year is almost double that of Q1 in 2025, although the market was dominated by smaller deals, with no transactions in excess of 10,000 sq ft for the first time since Q2 in 2024.

Adam Fleming, Senior Surveyor at Fisher German’s office in Liverpool, believes the market’s performance reflects a reasonable start to the year in a challenging economic climate. He said: “Despite the global backdrop, things are still happening in the city, even if at a slower pace than desired. Occupier demand is holding up relatively well although there hasn’t really been any bombshell headlines this quarter.”

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Adam added: “Office take-up reached 60,471 sq ft across 27 transactions in Q1 2026, almost double the level recorded in the same period last year, when take-up totalled 36,325 sq ft.”

He said: “While the quarterly figure sits slightly below the three-year average of 71,500 sq ft, the number of transactions was above average, highlighting continued activity of occupiers taking smaller space in the city, amidst a dearth of larger deals transacting.”

“Office take-up reached 60,471 sq ft across 27 transactions in Q1 2026, almost double the level recorded in the same period last year, when take-up totalled 36,325 sq ft.” - Adam Fleming, Senior Surveyor at Fisher German’s office in Liverpool.

Adam, said: “One of the defining characteristics of the quarter was the dominance of smaller transactions, with around two-thirds of all deals involving suites below 2,000 sq ft. This underlines the continued importance of SMEs and flexible occupier requirements within the Liverpool market.”

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He added: “At the same time, a significant proportion of take-up came from mid-sized deals between 5,000 sq ft and 10,000 sq ft, which accounted for 58% of the quarter’s market share and almost 35,000 sq ft of total activity across five transactions.”

He said: “Notable lettings include RSM’s relocation to The Plaza from 20 Chapel Street, leading the headline rent figures achieved in the first quarter at £26.50 per sq ft. Rare Project made a move to Urban Splash’s Vanilla Factory, consolidating its estate into new space across two floors on Wood Street. Options for Supported Living also expanded its footprint in the City Centre, acquiring space at St Nicholas House for its new offices and training centre overlooking the River Mersey.”

Adam, said: “One of the key themes here is, of course, none of these occupiers are new to the city. It is great that we are seeing growth, expansion and consolidation of strong outfits that make the city what it is, and the next target is to attract businesses into the city for the first time. We continue to see is occupiers prioritising high-quality, well-located space that can support modern working requirements. Businesses are increasingly focused on quality, with flexibility, amenities and fitted space all playing a larger role in decision-making.”

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He added: “For landlords and developers, this reinforces the importance of delivering well-presented and adaptable accommodation that aligns with occupier expectations. High-quality space continues to perform strongly across the wider region, particularly where there is strong connectivity and a good amenity offering.”

He said: “Although there were no transactions above 10,000 sq ft during the quarter for the first time since Q2 2024, the overall level of activity remains encouraging. The key issue is ensuring that we can provide the right stock to meet occupier requirements. With a number of projects on the horizon, getting these right will be key to boosting market performance and attracting occupiers to the city, instead of occupiers jumping around buildings within the CBD.”

“Although there were no transactions above 10,000 sq ft during the quarter for the first time since Q2 2024, the overall level of activity remains encouraging.” - Adam Fleming, Senior Surveyor at Fisher German’s office in Liverpool.

Adam added: “Looking ahead, while some occupiers may remain cautious in the short term due to ongoing economic uncertainty, the underlying fundamentals of the Liverpool office market remain resilient, and we expect activity levels to remain stable through the remainder of 2026.”