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Bradbury Robinson

Office Space In Liverpool...

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I should start by saying that I know pretty much nothing about commercial property of any sort so this is just a layman's view!

I work in Liverpool city centre and drive south into work every day. The road in is littered with advertising boards on the offices that I pass. Some are newly built open plan offices, others are the older 'stand alone' offices with a bit of outside space. The city centre itself is no different, lots of signs up for well established offices and the thing that I notice is that there are still newly built ones available and new ones going up at the moment!

If you were in the market for an office/factory/yard then you'd have a decent pool to pick from!

I was also up by Knowsley Industrial/Business Park in Kirkby last night and it seems that the same thing is echoed around that area, it's a competition to see who can have the biggest advertising hoarding or the most boards on one site.

I don't know what it all means, only time will tell.

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If you were in the market for an office/factory/yard then you'd have a decent pool to pick from!

A few months ago I was reading an investment report on a website about commercial property. The investment manager reported increased values over the previous few months but, if memory serves (and I think I'm right because I was so gobsmacked at the time) - the increase was driven by `capital investment' rather than rental value or occupancy.

He/she seemed to be saying that commercial property had become an almost entirely speculative investment and was disconnected from what could actually be obtained by renting it out.

Which makes me think that even though there are loads of empty offices and warehouses, you'd struggle to rent one cheaply because that would mean it had a lower capital value. So, empty with a fantasy capital value is better than occupied at a rent the market can stand thus revealing a non fantasy capital value.

The same probably goes for high street shops, new build flats and even the balance sheets of premiership football teams. "He's worth £20million cos that's what we paid for him and his dodgy knee and not being in the team doesn't alter the fact that he's worth £20million"


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There are many empty offices in Liverpool, mainly due to high rents but few new companies investing in the area.

I can't see things changing anytime soon.

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  • 312 Brexit, House prices and Summer 2020

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