16/12/2009 The Capital attracts Liverpool's largest office letting

Property group Downing has completed Liverpool’s largest ever commercial letting after agreeing a 15-year lease with the UK Border Agency (UKBA) at The Capital.

The 220,000 sq ft deal will see UKBA, one of the city’s biggest employers, consolidate its six Liverpool offices into one base at the landmark building on Old Hall Street.

The deal means more than 2,000 UKBA staff will be brought together under one roof for the first time. The move will begin towards the end of 2009 and is expected to be completed in early 2012.

Downing has been advancing Liverpool’s largest Grade A-equivalent refurbishment scheme at The Capital since acquiring the building from Royal & Sun Alliance (now known as RSA) in 2006. The £15 million project has delivered new, high quality office space alongside additional business and lifestyle facilities.

George Downing, chairman of Downing, said: “This letting is a clear endorsement of the quality of our building, its location and the enduring appeal of Liverpool as a place to work and live.

“Over the past three years, we have invested heavily in the fabric of The Capital, transforming its interior into the kind of contemporary, intelligent space befitting of a cosmopolitan business hub. This is a statement building on the edge of a World Heritage site and as such it is apt that it has been chosen as the new home for such a leading public sector agency.

“We trust that UKBA’s workforce will enjoy the building’s refashioned interior, new facilities and find The Capital a great place to work. We’re looking forward to welcoming the team into the Downing portfolio.

“I’d like to thank our existing tenants at The Capital for all their hard work and continued support throughout these complex negotiations. The successful conclusion of this deal has been achieved thanks to a truly collaborative effort between Downing, UKBA and our existing tenants RSA, Liverpool Vision and LCC. As a result, we have a building that will work better for everybody in the long term, and one that boasts a highly prestigious roster of tenants.

“Our investment in The Capital has played a significant role in the wider regeneration of Liverpool’s commercial district. The result is regeneration in action - taking what we already have, investing in its future and creating new opportunities for the local economy.”

Eddy Montgomery, regional director of the UK Border Agency in the North West, said: “By moving to a newer, more efficient headquarters, the UK Border Agency will save taxpayers around £10 million.

“The Capital will bring together staff from several buildings based across Liverpool into one single, modern, open-plan office space. This will improve communication and help play a vital role in providing an efficient and effective service to the public.”