Thursday, May 30, 2024

Direct Line has signed a 10-year lease on a floor at Brickhill Properties’ No1 St Paul’s Square

The insurance company has signed a 10-year lease on a floor at Brickhill Properties’ No1 St Paul’s Square, following a major contract win. 

Direct Line, which closed its previous Liverpool office in 2013, secured the contract to provide insurance for Motability Operations’ 650,000 customers, prompting the need for a new Liverpool base. 

The firm is taking over as the insurer for Motability Operations from RSA. The team assigned to the job is currently located within Capital Buildings on Old Hall Street but will relocate when the new contract begins in September. 

A Direct Line Group spokesperson said: “Direct Line Group has been chosen to be the new partner to Motability Operations to provide insurance to its more than 650,000 customers.  

“The team who deliver the service are based in Liverpool and join us in September 2023. We’re delighted that we have now signed a 10-year agreement on 1 St Paul’s Square which will be a great home for our new colleagues who support Motability Scheme customers.” 

Direct Line’s new 17,000 sq ft office is in the process of being refurbished by landlord Brickhill Properties. 

Brickhill and development managers Valeo Capital decided to carry out an extensive refurbishment of the city centre office building in a bid to fill 50,000 sq ft of vacant space.  

The top three floors of the 131,000 sq ft 1 St Paul’s Square are occupied by Hill Dickinson, while another floor is home to Keoghs Solicitors. 

CBRE advised the landlord on the Direct Line deal.

Neil Kirkham, senior director at CBRE Liverpool said: “We are delighted to secure this deal with a high-profile, respected insurance company just weeks after the repositioning works commenced at 1 St Paul’s Square. This is a testament to Direct Line seeing our vision for the building and recognising the high quality that will be delivered on completion. 

“This transaction very much substantiates our client’s decision to invest in the repositioning of 1 St Paul’s Square and attests to the quality of product and amenity which is being delivered.” 

Cushman and Wakefield acted for Direct Line.

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