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Liverpool `Exchange Flags` commercial and downtown revival `The Hill`

13K views 56 replies 28 participants last post by  libbrit 
#1 ·
http://icliverpool.icnetwork.co.uk/...n-to-buy-all-of-exchange-flags-name_page.html

Firm moves in to buy all of Exchange FlagsJun 21 2006

By Tony Mcdonough, Daily Post

PROPERTY firm UK Land & Property last night told the Daily Post it would like to acquire the rest of Exchange Flags after completing a deal for half of the complex this week.

It was revealed yesterday that the Liverpool-based company had bought the Grade II Listed Horton

House, comprising 160,000 sq ft of office space, in a multi-million pound deal. Horton House forms part of the Exchange Flags complex.

The property overlooks the historic Exchange Flags Square at the back of Liverpool Town Hall and has lain largely empty for the past 15 years.

UK Land bought the site from Bill Davies' Walton Group and it said it would look to acquire the other half of the complex, Walker House, should Walton be willing to sell.

Managing director Simon Parker said: "Clearly now our focus is on Horton House but we would be foolish not to enter into negotiations over Walker House if Walton Group considered it appropriate."

UK Land is to spend £7m refurbishing the site and the first tenant will be Liverpool law firm Brabners Chaffe Street which will move into 41,000 sq ft in July next year.

Around 200 staff from its current bases in Dale Street and Castle Street will relocate onto the new site.

Brabners has signed a 15 year lease with the option of taking more space for future expansion.

Once the refurbishment is complete around 80,000 sq ft of space will be made available, with suites from 2,000 sq ft. Retail units on the ground floor, totalling 15,000 sq ft, will be made available immediately.

UK Land has entered into a joint venture with Pochins for the scheme which will commence in August.

This week's deal was seen as a breakthrough for what has been seen as one of the biggest missed opportunities in Liverpool's regeneration.

Despite renewal taking place all around it Exchange Flags has been left largely empty for many years despite previous talk of turning it into luxury apartments.

If UK Land could secure a deal for Walker House, then that would be seen as another major economic boost for the city's central business district.

tonymcdonough@dailypost.co.uk
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Excellent excellent excellent ..... Liverpools city centre hill.

Vista vista vista downtown Liverpool.
 
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#3 ·
RESURGUM ..... Liverpool advance

Tony Sebo said:
Brilliant news this is.

Exchange Flags is one of, if not the, best urban squares anywhere!

Filling that will bring the city back to life like no other project.
Oh so true......and right on the `Town halls` door step (well back door...)

They must be shuddering in their boots that such a sleeping giant is begining to `yawn` ...... quick get the sleeping pills and put us out of our misery - we can`t handle tomorrow - never mind today.

`Resurgum Liverpool` I say - RESURGUM.
 
#4 ·
I have just posted elsewhere that they could build a modern version of the Rockerfeller centre on the land behind the Pig and Whistle.... wouldn't it complement Exchange Flags, Martins and India buildings (stunted) 30s' Americana deco type designs..... oops, another quandry for EH.... it would be tall, but PERFECTLY in keeping!!!! the horror of it!
 
#5 ·
Oh you are cruel, cruel cruel!

But I like it! :)

Hee hee hee........

:cheers:
 
#6 ·
Horton House, Exchange Flags........latest news

Owners UK Land & Property have submitted planning application for:......

To change use of 4 units at ground floor and lower areas to A1, A2, A3 & B1.

A1: retail A2: Financial A3: Restaurant / cafe B1; Business.

No other details , but a cafe / restaurant on the flags would be marvellous.
 
#10 ·
The problems faced by cleaning the Town Hall could potentially be a problem. This building hasnt been cleaned for donkeys years. If you head towards Philpotts from Dale Street and pass the RBS building adjacent to the Town Hall you notice the stone damage caused during WWII. What would happen if when the town hall is cleaned and there a number of areas like this but many more and worse?. Extensive stone repairs to this building could end up making it look a lot worse than it currently is. Its just a passing thought.

Besides the color of the Town Hall gives it a bit of character!
 
#11 ·
Hotel plan for listed building ..... will be turned into a 32-room boutique hotel

Hotel plan for listed building May 16 2007

by Tony McDonough, Liverpool Daily Post

LISTED building conversion specialist Your Space has sold the Heywoods Building, in Liverpool, to a hotel operator in a £2.85m deal.

The property, on the corner of Brunswick Street and Fenwick Street, will be turned into a 32-room boutique hotel by UK-wide group, Folio Hotels.

Your Space acquired the former office building in spring 2006 and carefully removed all the 1960s style interior, including plasterboard walling and grid ceiling tiles/services, to expose the architectural features originally built about 300 years ago, then carried out minimal restoration work.

At the same time, it obtained the planning consent for conversion to hotel use.

Development director Steve Turton said: “We have made an excellent return on the Heywoods scheme, and wish Folio every success with the hotel.

“Liverpool is enjoying a boom in the run up to the European Capital of Culture 2008 and is a prime site for new hotels.”

DLB Estates and Matthews and Goodman acted as property agents on the deal.

Earlier this month Your Space launched Il Palazzo in Liverpool, the first five star serviced office accommodation available in the city.

The company has spent more than £1m transforming the Victorian former banking hall at 7 Water Street to serviced accommodation that will cater for leading professionals, private business people and international companies requiring a satellite office in Liverpool.

Your Space has also revealed details of two proposed site acquisitions in Sheffield and Glasgow.

The Sheffield deal has just exchanged contracts and the developer pay £5.3m for the former head post office in Fitzalan Square in the city centre.

The Grade II listed property, built in 1893, features 80,000 sq ft of space set in one acre of land.

The vendor was a group of private property investors.

The Glasgow property is a 30,000 sq ft former office at 24 St Vincent Place, in the city centre. It was built in 1893 and will be refurbished and converted into serviced office space of the highest standard.

The £5m deal has concluded missives and is also expected to reach the completion stage later on this month.

The vendor was a private property partnership.

tonymdonough
 
#12 ·
Remainder of Exchange Flags sold

This week's Estates Gazette reports that Walton Group has agreed to sell their remaining part of the Exchange Flags buildings complex to UK Land and Property, the company that now owns and is currently redeveloping the Horton House part of the site as offices.

This is great news. Bill Davies will now have no interest in the property. The new owners will now possess the whole of the Liverpool Exchange complex, including the Western Approaches museum. They plan to create more office space on the upper floors of their new purchase and have plans for four bars/restaurants on the ground floors of the buildings.

This is great news. This superb square, downtown Liverpool's finest and one of the best in the whole country, has been underused for too long.

I can't wait to have an al fresco scoop or two on a summer's evening in the square in the not too distant future.
 
#13 ·
If you must buy me............

This is great news. This superb square, downtown Liverpool's finest and one of the best in the whole country, has been underused for too long.

I can't wait to have an al fresco scoop or two on a summer's evening in the square in the not too distant future.

Brilliant news, and must agree Awayo great square, and mines a large B + C:cheers:
 
#15 ·
Property firm near to Exchange Flags deal
May 30 2007
by Tony McDonough, Liverpool Daily Post

FINAL negotiations are taking place to sell the remaining part of Liverpool’s Exchange Flags still owned by businessman Bill Davies.

The expected sale of Walker House to local property company UK Land & Property will see the last of the major city assets owned by Mr Davies finally slip out of his control.

Last year UK Land purchased the other half of Exchange Flags, Horton House, which comprises 160,000 sq ft of space.

It is spending £7m refurbishing the building and law firm Brabners Chaffe Street will move in during the summer, taking 41,000 sq ft.

It is also understood that an unnamed Italian restaurant chain is likely to occupy part of the ground floor. Shortly after the deal to buy Horton House, UK Land managing director Simon Parker said: “We would be foolish not to enter into negotiations over Walker House.”

Sources last night told the Daily Post that those negotiations between UK Land and Mr Davies’s company, Exchange Flags Properties, are now close to bearing fruit, with a deal expected to be agreed by July. Last year’s deal was seen as a breakthrough in what has been one of the great lost opportunities in Liverpool’s regeneration.

Mr Davies had left the site largely empty for 15 years.

The property overlooks the Exchange Flags Square at the back of Liverpool Town Hall which is dominated by a monument to the Battle of Trafalgar.

In 2002, Mr Davies’s Walton Group, was ordered to hand back £4.5m received as a City Challenge grant after an out-of-court settlement. It was repaid in April 2003.

The businessman also owned the former Post Office site in Whitechapel. That too was left empty for several years until it was sold to Manchester developer John Milligan who created the Metquarter designer shopping development.

Following a legal battle with Liverpool City Council in 2002, Mr Davies lost the right to develop Chavasse Park, now the site of the £1bn Grosvenor retail development.

In 1973 he was seen as the saviour of the Grand National when he purchased Aintree Racecourse but later he tripled admission prices.
 
#16 ·
Yipppeeeee, excellent news :banana:

This is really the place to link the buiseness quarters to the retail quarters and beyond .....
 
#21 ·
Brabner Chaffe Street have now moved into to their new city headquarters in Horton House. They occupy 41,000sq ft of the building bringing their 220 strong workforce together at the one location, with additional space earmarked for future expansion. This follows on from new trading figures showing a 25% rise in annual fee income to £25m.

great news.
 
#23 ·
DLA expands in India Buildings
Dec 12 2007 by Tony McDonough, Liverpool Daily Post

LAW firm DLA Piper has signed a lease for additional space at India Buildings, taking its presence to 40,000 sq ft in the landmark location in Liverpool’s Water Street.

The deal for the extra 12,000 sq ft with landlord Branchtown runs until 2020 and will continue a relationship that began 75 years ago – the law firm was one of the original tenants when India Buildings opened in 1931. The terms of the rental were not disclosed.

“We have advanced plans to grow in all our core practice areas in Liverpool – corporate, real estate, commercial, financial services, litigation and employment – and the extra space will help us accommodate our expanded teams,” said Philip Rooney, managing partner.

“We also recognise the enormous potential of Liverpool. The general economic climate may be difficult at the moment – but this is about taking a long term view of the city.

“The fundamentals in Liverpool are very good and what has been created here by both the public and private sectors in the run up to 2008 is a fantastic platform for the Liverpool City Region to compete successfully across the UK , in Europe and around the world.”
 
#24 ·
Its a beautiful building India Building's. I'm working there at the moment at a Home Office dept, but unfortunately it's getting relocated to Newport at the beginning of February. All permanent staff are to be relocated to other departments, mainly to Prince's Dock and Martin's Bank Building.
 
#26 ·
Good news this. This could kick start another phase of development for this part of the city and begin to unlock the real potential for Liverpools own Placa Reyal.


Coffee chain is first retail tenant of rejuvenated Flags

Oct 15 2008 by Tony McDonough, Liverpool Daily Post

Coffee chain is first retail tenant of rejuvenated Flags

COFFEE Republic is to become the first leisure tenant at Liverpool’s rejuvenated Exchange Flags office complex.

The chain is taking 1,200 sq ft of retail accommodation on the ground floor at Walker House, which is undergoing a £15m refurbishment to bring 210,000 sq ft of office accommodation to the market.

Complex owners, UK Land & Property and Pochin, have already secured a 70,000 sq ft pre-let with the Ministry of Defence at Walker House. That will leave 140,000 sq ft of office space and 23,000 sq ft of leisure space still to be let.

Its counterpart, Horton House, has been fully refurbished and is now home to tenants including Brabners Chaffe Street, Knight Frank, Regus and Deloittes.

The joint venture partners acquired Exchange Flags over a 12-month period spanning 2006/07 from previous owner Bill Davies.

Under Mr Davies, the property – considered to be one of the most impressive sites in the central business district – had remained virtually empty for more than 15 years.

Ian Sherry, of UK Land & Property, said: “As we near the completion of the refurbishment at Exchange Flags, much interest has been generated from retail and leisure operators looking to tap into the high footfall the scheme records each day.

“Made up by Horton and Walker House, Exchange Flags acts as the gateway which links Grosvenor’s Liverpool One and the traditional office core with the new and emerging commercial business district centred on Old Hall Street.

“The retail and leisure operators will benefit from the host of blue-chip occupiers already signed up at Exchange Flags, as well as the exceptional refurbishment of both buildings, in a location which is simply first class.”

The 160,000 sq ft Horton House was acquired by the joint venture in June, 2006, and has since under- gone comprehensive refurbishment.
 
#27 ·
COFFEE Republic is to become the first leisure tenant at Liverpool’s rejuvenated Exchange Flags office complex.

The chain is taking 1,200 sq ft of retail accommodation on the ground floor at Walker House, which is undergoing a £15m refurbishment to bring 210,000 sq ft of office accommodation to the market.
Hasgrove are moving here also. :)
 
#28 ·
UK Land & Property and Pochin have signed their first leisure tenant since the refurbishment of Exchange Flags began last year.

Coffee Republic has taken 1,200 sq ft in Walker House, which is the second phase and nearing completion. Coffee Republic’s unit will mirror that of sandwich bar Philpotts, an existing tenant, in the other wing, Horton House.

Ian Sherry, director of UK Land, said: ‘We are seeing a lot more animation in the square as occupiers move in and the links between retail and business cores grow stronger.’

A unit of 4,500 sq ft has been placed under offer by an oriental food operator, and two more units of 10,000 sq ft and 5,000 sq ft are attracting interest, Sherry said.

A 600 sq ft coffee shop in the ‘island’ unit between the two pedestrian arches is also subject to talks and, pending completion, is likely to open in the new year.

The square is hosting artwork for the Liverpool Biennial art festival in the shape of a glittery spider on a web hanging in mid air.

Cheetham & Mortimer are the leisure agents at Exchange Flags

Found this online a minute ago. All being well, we could see up to 5 retailers in the square by next summer. That is the best news I've heard all week.
 
#31 ·
This is a bit strange , all the plans I have seen have had the 10,000sq ft unit of Walker House split into 2 and the right hand side of the 2 was earmarked for a resturant because there is an available entrance point in the flags.

MoD have started moving in to Walker House already and should be in by the end of Jan and full occupancy is being looked at by the end of 2009 with many prospective tennants being at the "with the lawyers" stage
 
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