The North West Merseyside and North West by Neil Kirkham, Head of Office, CBRE Liverpool


As we navigate the second quarter of 2026, the North West office market finds itself at an interesting, intersection.


We have seen a robust resur- gence in activity and demand for office space. At the same time, we are facing a sup- ply-side crisis that threatens to underminethis growth.


In my view, the pressing issue remains the chronic shortage of Grade A stock.


Looking at Liverpool specifically, the data tells a story of two halves. Our take-up figures have shown remarkable resilience - boosted by significant commitments like the UKBA’s 52,000 sq ft letting at The Capital.


This reflects a broader regional trend: occupiers are not necessarily shrinking their ambitions; they are refining them.


They are right-sizing into centrally located, amenity-rich, and ESG- compliant hubs that act as a magnet for talent.


However, the vacancy rate for premium space in Liverpool currently sits at a record low of approximately 0.3%. We are essentially sold out of the very product the modern global occupier demands.


While our neighbours in Manchester continue to see a pipeline of spec- ulative development supported by headline rents exceeding £45 to £50 per sq ft, Liverpool’s rental ceiling remains the primary hurdle.


For over a decade, we haven’t seen significant speculative investment in the CBD without public sector intervention.


To unlock the next generation of office schemes such as the vital Pall Mall project - the market must accept that quality comes at a price.


This isn’t just about new builds though. The narrative for 2026 is increas- ingly being defined by the repositioningof existing assets. With the tight- ening of MEES regulations on the horizon, the retrofitting of secondary stock is no longer a luxury; it’s a survival strategy.


Those landlords who lean into high-quality refurbishments are seeing immediate rewards, capturing the flight to quality from firms who want sustainable, characterful spaces, but cannot wait for a three-year con- struction cycle.


As we look ahead, the North West remains one of the most compelling investment cases in the UK. The talent pool is here, the lifestyle draw is undeniable, and the occupier demand is proven. But to truly capitalise on this momentum, we must bridge the viability gap.


My view is simple: we have the demand, and we have the vision. Now, we need the conviction from developers and investors to deliver the floorplates that 2026 demands. If we build it, they aren’t just coming, they’re already waiting at the door.


Knowsley – an enviable track record for growth and success Dale Milburn, Knowsley Council’s Executive Director for Place


Knowsley Council has an enviable track record of securing investment, delivering regeneration programmes and supporting economic growth in the borough.


Already, it has delivered the world-class Shakespeare North Playhouse in Prescot, a 94,000 sq ft retail development in Kirkby, progressing with its £30m investment plan in Halewood, delivering a sustainable neighbour- hood with access to recreation and leisure facilities, better transport con- nections and an improved retail offer and it’s house building programme has delivered thousands of new homes to meet demand. But the council’s ambitious plans for the borough doesn’t end there.


Plans also include a further phase of retail in Kirkby, which include Lidl’s first supermarket in the town, there will be an enhanced food, drink and leisure offer over the coming months and 800 new, high-quality homes are being delivered as well as over 50 retirement homes to meet local demand. In addition, local priorities are being addressed over the next 10 years through the £19.5m Pride in Place programme.


Extensive consultation has been undertaken with the local community and an investment and regeneration plan for Kirkby will deliver three key outcomes – a vibrant town centre; safe, stronger neighbourhoods; and empowering people to succeed.


Another area of the borough, Page Moss, will also benefit from the Pride in Place programme with £20m being invested over the next 10 year on key priorities identified by local residents.


In Huyton, preparations are continuing to deliver a £200m development programme with ambitions to see modern homes, commercial office spaces, a hotel, a village green and a new community hub delivered.


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In Prescot, the council is continuing to revitalise the town centre having purchased Prescot Shopping Centre with plans to transform and revital- ise this key site in the heart of the town. The restoration of the external façade for the historic Prescot Picture Palace has also been completed and a long-term use is being sought. Work on Halsnead Garden Village is also progressing, delivering 1,600 new homes, 33 hectares of new green- space, a new, 28-hectare Country Park and 22.5 hectares of employment land providing over 1m sq ft of new employment floorspace.


Knowsley is currently in the 20% fastest growing local authorities in England and Wales and is showing the highest population growth in the whole of the Liverpool City Region, reporting a 9.8% increase in the last 10 years.


The council’s Economic Growth Plan is building on the successes achieved over the last five years with over 6,000 new homes built, 11,000 additional jobs created and 4.6m sq ft of floor space developed for businesses.


Knowsley is strategically located with fantastic transport connections, located adjacent to the motorway network and easily accessed via road, rail and freight with two major airports located within a 30 minute drive- time. Knowsley is also home to the second largest business park in the North West – home to over 800 businesses which employs more than 8,000 people.


Knowsley has seen Gross Value Added (GVA) figures rise to £4.2bn in 2023. GVA has risen by 21.8% since 2010, representing the second high- est rate across the Liverpool City Region.


If you’re ready to invest in one of the fastest-growing and best-connected boroughs in the Liverpool City Region, speak to our Invest Knowsley team today


COMMERCIAL PROPERTY MONTHLY 2026


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