Bank of Scotland clinches St Paul’s Square location

Jan 16 2008 by Tony McDonough, Liverpool Daily Post

HALIFAX Bank of Scotland (HBoS) has put pen to paper to secure almost 12,000 sq ft at Liverpool’s St Paul’s Square development.

The deal ends a long search by the bank for new corporate premises in the city.

In 2006, it came close to an agreement to take space at Rumford’s nearby 20 Chapel Street scheme, but negotiations came to a halt as the two sides were unable to agree on terms and conditions.

Bank of Scotland Corporate – part of the HBoS group – has exchanged contracts to occupy 3,600 sq ft on the ground floor and 8,350 sq ft on the first floor of Standard Life Investments’ 5 St Paul’s Square. More than 50 staff will be relocating from existing offices in Castle Street and Princes Dock.

The consolidation marks a renewed effort by the bank to win more business in the real estate and commercial sectors.

The deal follows law firm DWF signing a lease to occupy 42,000 sq ft in the same building in what was the city’s largest new build, Grade A letting of 2007. Developer English Cities Fund sold the 133,000 sq ft office building to Standard Life Investments’ Pooled Property Pension Fund, in May, 2007.

Dan Needham, Development Director at English Cities Fund, said: "St Paul’s Square built up a tremendous momentum in 2007 and this deal is an excellent start to the New Year. Bank of Scotland is a welcome addition to the outstanding calibre of tenants that have chosen to locate themselves at the square."

THE Liverpool Branch of Allied Irish Bank (GB) will officially open its new offices in the St Paul’s Square development on Thursday.

The bank has moved from its Dale Street location to take 6,500 sq ft at Number 1 St Paul’s Square, in Old Hall Street.

Staff, customers and guests will attend the reception on January 17, hosted by Allied Irish Bank (GB) senior manag- er corporate business, Bob Bennett, who said: "It’s great to be in the new offices and ready for business. The transition has been quite smooth and we’re looking forward to welcoming so many guests at once to show them this superb new building."

tonymcdonough@dailypost.co.uk