Liverpool market watch Q1 24

Vacant office space acquired in Liverpool in the first quarter of 2024 has more than doubled from the same time last year thanks in part to the rise of the gaming industry in the city.

Figures released by the Liverpool Office Agents Forum (LOAF) showed 93,223 sq ft of space was transacted across 24 deals in Q1 – a 126% increase from the 41,171 sq ft of space let in Q1 2023.

Birmingham Q1 2024

A significant proportion of the activity was driven by companies within the gaming, creative and professional sectors, with game developer Wushu Studios behind the biggest move of the quarter after taking on 13,320 sq ft of space at Walker House.

Q4 2023 ended on a positive note with 116,000 sq ft of offices being transacted, this positive sentiment has continued in the first part of this year and demonstrates that occupiers remain eager to be located in the city.

More than 93,000 sq ft of office space transacted in which is more than what was achieved in the first six months of 2023.

The games industry has played a key part in an excellent Q1 alongside other creative sectors such as music, and more traditional Liverpool sectors like shipping, also contributed strongly. Sentric Music took 13,000 sq ft at Walker House, while international shipping firm Hapag Lloyd moved into 8,858 sq ft of space at No 1 St Paul’s Square.