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LIVERPOOL CITY REGION CHESTER MANCHESTER
Nov–Dec 2009
MOVE COMMERCIAL The north-west’s guide to property and business
Refurbished contemporary offices in the number one location
Issue 15
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Southport is enjoying an on-going resurgence as a town in terms of residential, commercial and leisure opportunities, with significant development, including Ocean Plaza, Vincent Hotel, Ramada and the recently refurbished Floral Hall Conference Centre. Today Southport Business Park is a well established base for a number of leading companies – Royal Mail, Hibernia, Experian, United Automation, Barnett Solicitors, KLH Electronics, Payment Shield and Premier Wealth Management and is rapidly becoming the focus for companies looking for high specification Grade A office accommodation. Berkeley James Developments have been appointed ‘development partners’ for the next exciting phase of the parks development.
A N T I C I PAT E D C O M P L E T I O N 2 0 11
GREEN LIGHT FOR
DEVELOPERS AT
SOUTHPORT BUSINESS PARK
Sefton Council has appointed Berkeley James as preferred development partner for two new Grade A office units at Southport Business Park. Situated on Wight Moss Way, Kew, Southport, the Business Park is today a well established, prime base for a number of leading local and national brand leaders. The long awaited development is set to facilitate the growing demand for new, quality commercial premises in the Southport area. With each building at three storey's high and occupying a total of 30,000 sq ft each, the premises are set to attract interest from a range of small, medium and large businesses and enterprises looking to re-locate or acquire
additional space for further growth and expansion. An attractive address and setting, Southport Business Park offers a superb central position with easy commuter access to Liverpool, Preston and Manchester. BERKELEY JAMES DEVELOPMENTS LIMITED create mixed use
development schemes which provide added value and a legacy of sustainable economic development. This enables Berkeley James to develop projects that provide strong commercial returns and value to all stakeholders, whist retaining an active interest post completion through its Employment Trust and Affordable Housing Foundation in the operation and development of the facilities created.
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Exciting new phase for Southport Business Park
TONY BYRNE Tony Byrne, Berkeley James Director Tony is founder and managing director of Liverpool's leading refurbishment and maintenance specialist, AW Byrne. Today in its 22nd year of operation, the company offers a comprehensive range of building services, using directly employed skilled tradesmen, with a driving focus on local authority, education, commercial and housing association schemes. AW Byrne has now secured contracts through partnering arrangements with several major Northwest housing trusts and local authorities. From offices based in Bootle and with a multimillion pound turnover, AW Byrne now employs a team of over 70 and continues to be led by Tony and his management team.
J O H N C H A R LTO N John Charlton, Berkeley James Director A former commodities trader who operated at senior level both nationally and internationally, John Charlton created one of the UK's first Financial Services divisions assigned to a leading Estate agency chain in the 1980's. This developed into a full time mortgagepackaging organisation, employing a large team in the Midlands. With true entrepreneurial spirit John went on to develop a worldwide network dealing in property development and commodity trading. John continues to maintain strong business and personal links with Northern Cyprus where he is involved with the commercial development of the region including social housing and creating sustainable employment projects.
“Despite the current economic climate, we recognise the huge development potential for this site. There is very little commercial property of this specification available in this area and we have already received a high level of interest from potential tenants.” Berkeley James Developments
ROGER WALKER Roger Walker, Berkeley James Director Roger is a leading Chartered Architect with over 30 years professional experience, of which 20 have been as a Principal, running both UK and International businesses. His international expertise encompasses a wide range of sectors and within the UK, Roger has worked for over 25 years on mixed use town centre regeneration projects for a number of public and private clients.
BJD are currently involved in a number of large scale projects across the UK operating under the healthcare, social housing and commercial sectors. Eldonian Group Limited supports BJD by providing high level engagement and understanding of local authorities and other statutory agencies policies, to ensure that there is a strong partnership and clear strategic direction within the delivery of socio economic outputs to meet local needs.
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Roger is now involved in developing a range of sustainable schemes utilising Passivhaus technologies for the UK and international markets, looking at innovative and resilient ways of achieving truly sustainable development.
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Issue fifteen Move Commercial
Contents News
40
Welcome to Move Commercial Welcome to Move Commercial where we’re reflecting on the year in commercial property and business across the Liverpool City Region and Manchester, and looking ahead to 2010. The cruise liner terminal at the Pier Head in Liverpool has come under the spotlight with a succession of prestigious ships arriving at our city. Its future, whether to remain as a port of call for liners or to become a full turnaround facility, is on the table in Talking Point where the city’s leaders in tourism and business discuss its potential. MediaCity’s creation and the benefits for the economy and the property market in Salford and our wider region is also under the spotlight, in conversation with real estate
director Steve Wild. In Liverpool, Pall Mall’s massive redevelopment continues with plans to conceive a new commercial quarter, and Muse MD Matt Crompton discusses raising building values and mixed-use schemes’ success. Meanwhile, Langtree MD John Downes describes the firm’s plans for the International Garden Festival site in Otterspool and how transforming the site should impact on the wider regeneration of the region. As a final touch, we’ve also been busy visiting new developments and their launches across the region, including the opening of One Derby Square in Liverpool and Urban Splash’s mixed-use Chips in New Islington – see pages 22 and 27 for all the pictures.
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move publishing ltd Advertising Director Fiona Barnet Tel 0151 709 3871 Account Manager Jo Tait Tel 0151 709 3871 Editorial Team Lucy Oliver and Jonathan Kearney Email post@movepublishing.co.uk Tel 0151 709 3871 Published by Move Publishing Ltd Directors David O’Brien, Kim O’Brien, Fiona Barnet
Design & Production The Design Foundry 36 Henry Street, Liverpool L1 5BS. Tel 0151 709 1633 Printed by Precision Colour Printers Ltd Distribution Liaison Manager Barbara Troughton Tel 0151 733 5492 Mobile 077148 14662
Copyright Move Publishing Limited. All rights reserved. No part of this publication may be reproduced copied or transmitted in any form or by any means or stored in any information storage or retrieval system without the publishers written permission. Although every effort is made to ensure the accuracy and reliability of material published, Move Publishing can accept no responsibility for the veracity of the claims made by advertisers.
08 Southport Business Park launches 09 A new office build approved in Liverpool 11 A step forward for the International Garden Festival site 12 Pall Mall office tower approved 13 Liverpool’s 14 Castle Street is revealed 15 Revamp for Central Library in Liverpool 16 Ellesmere Port attracts occupiers 17 New tenants for Connect Business Village 18 Planning consent for Co-Operative’s Manchester HQ 21 Wirral Waterfront’s transformation
Features 24 Entrepreneur Paul Heathcote on cuisine and business plans 28 Mover and Shaker Matt Crompton shares his vision for Pall Mall, Liverpool 30 Focus Schemes with the go-ahead 32 Founding Father Langtree’s John Downes on regeneration 35 Talking Point Should we develop Liverpool Pier Head’s cruise liner terminal? 40 Media City Feature How the digital centre could benefit the region 44 Ask the Panel What are your predictions for the market in 2010?
Key Events 22 Key Event One Derby Square 27 Key Event Urban Splash launches Chips in New Islington, Manchester 34 Key Event Regional transport plans presented at FACT 44 Key Event Bo Concept’s opening at 20 Chapel Street, Liverpool
Careers 20 Appointments Who’s moving where 46 Q and A Ian Sherry, development director at UK Land & Property MOVE COMMERCIAL
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News Move Commercial
In the zone
An artist’s impression of the new Southport Business Park
CGI of how the Central Village
Higher education proposed development will look at Wirral Waters
Green light for Southport Commerce Park Grade A units get the go ahead SEFTON COUNCIL has appointed Berkeley James as preferred development partner for two new grade A office units at Southport Business Park. Situated on Wight Moss Way, Kew, Southport, the Business Park is today a well established, prime base for a number of leading brand names and large local employers including Royal Mail, and Experian. The long awaited development is set to facilitate the growing demand for new, quality commercial premises in the Southport area. Each building is designed to be three storeys high, across 30,000 sq ft each, to attract small, medium and large businesses and enterprises looking to re-locate or acquire additional space for further
growth and expansion. The two buildings will provide approximately 10,000 sq ft per floor of grade A standard accommodation including raised floors, suspended ceilings and air conditioning and are set to be capable of sub-division for multioccupation. An attractive address and setting, Southport Business Park offers a superb central position with easy commuter access to Liverpool, Preston and Manchester. Tony Byrne, director of Berkeley James said: “Despite the current economic climate, we recognise the huge development potential for this site. There is very little commercial property of this specification available in this area and we have already received a
Auction brings opportunity Outstanding sale for Sutton Kersh A VACANT PIECE of land on Norfolk Road in L1 sold for over four times its price at £160,000 above the guide price. Located between Jamaica Street and James Street, the 0.388 acre site has potential for a variety of uses subject to necessary planning consents. Guided at £50,000, the lot attracted three keen bidders and 8
MOVE COMMERCIAL
eventually sold for £210,000. Director at Sutton Kersh Auctions, James Kersh, commented: “The bidding for Norfolk Road was incredible, a prime example of the extraordinary results that can be achieved by selling through auction. The vendor was delighted with the result.”
high level of interest from potential tenants. “Southport is enjoying an ongoing resurgence as a town in terms of residential, commercial and leisure opportunities. We firmly believe that this scheme will have a hugely positive and lasting impact on the local area and wider community through the potential of job creation, business expansion and the re-location of new businesses.” Alan Moore, regeneration and environment director of Sefton Council said: “ Sefton is delighted to have a partnership with Berkeley James, regarding the development of Southport Business Park and look forward to working with them in order to bring forward new business accommodation.’’
Forthcoming events 12 November FBE Networking Breakfast, Hard Days Night Hotel, Liverpool. 17 November Hill Dickinson Property Update, Lancashire County Cricket Club, Manchester. 19 November Manchester Property Forum, Bem Brazil, Manchester. 25 November Your Move Property Awards at Hilton, Liverpool One.
An artist’s impression of Wirral Waters
A PROPOSAL to develop a ‘Wirral Learning Zone’ has moved a step closer. Plans submitted to create a £20m higher education centre as part of Peel Holdings’ waterfront scheme have successfully moved to the next stage of the Government’s ‘University Challenge’ scheme, which is encouraging higher education centres and new university campuses nationwide. The plans, submitted by Wirral Council and the University of Chester, would form part of Peel Holding’s ambitious £4.5bn Wirral Waters development. Professor Tim Wheeler, the University of Chester’s vice-chancellor, commented: “This proposal clearly represents a significant opportunity for Wirral, and we presented a very strong and robust statement of intent. We believe the centre would achieve long-term, sustainable development for local people, local businesses and the communities residing and working on the Wirral.” The plans for the learning zone include the higher education centre, a new further education campus for Wirral Metropolitan College and a special educational needs teaching facility. Wirral Council leader Steve Foulkes commented: “This is fantastic news and a real vote of confidence in our plans to drive forward the educational aspirations of Wirral’s young people.” As part of the all-encompassing plans for the waterfront, educational and learning opportunities rank highly, as a means of raising the aspirations and opportunities for the whole area. Peel Holdings’ plans for the next phases of the scheme are expected to be submitted in the near future.
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Green light for office build Headquarters opportunity arises FULL PLANNING permission has been granted for the development of a 54,000 sq ft landmark office building at Brunswick Business Park, 1.5 miles to the south of Liverpool city centre. The stunningly designed five storey building, to be known as One Brunswick Place, will command unrivalled views across Brunswick Dock towards the city centre and out across the River Mersey. The building will incorporate a grade A specification including air conditioning and full access raised floors, and will be constructed to achieve the highest energy efficiency ratings. Jonathan Swain, of agents Mason & Partners, commented: “The location of One Brunswick Place will fulfil a niche in the market by appealing to occupiers from both city centre and out of town
One Brunswick Place
locations. It offers close proximity to city amenities, as well as excellent car park ratios unattainable in the city’s traditional office core or at many rival out-of-town business parks.” Jon added: “Brunswick
Business Park also benefits from excellent public transport links, being situated on a major bus route and opposite Brunswick Merseyrail station, which further enhances the sustainability of the location”.
Pre-lets are being sought for a significant proportion of the scheme prior to the commencement of development. Agents Keppie Massie and CBRE have been appointed to act jointly with Mason & Partners. Riverside Park at the Wirral International Business Park
Swiss chic in the city centre New store for David M. Robinson
Front of the new David M. Robinson store
A NEW David M. Robinson store, the established city jeweller’s flagship premises, is set to open within the Liverpool One development before Christmas. The family firm’s third store to open in Liverpool will occupy 2,800 sq ft at its new premises, with a ground and mezzanine floor. Northern-firm GF Interiors have completed the first part of the fit-out, and the finished interior will be completed by Obrist of Switzerland.
Scheduled to open at the end of November, the store is expected to become a retail destination for the city. Managing director of David M. Robinson, John Robinson, commented: “We are proud to be opening our third store, our flagship venue, in Liverpool One and we look forward to welcoming clients from across the country to our showroom.” The firm recently received accreditation from Best Companies, at The Sunday Times. MOVE COMMERCIAL
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30 Pall Mall LIVERPOOL L3 6AL
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Move Commercial News
Claremont makes an entrance
Artist's impression of the proposed development at the International Garden Festival site
Rosy restoration for Liverpool gardens site International Garden Festival Site set to bloom WORK IS scheduled to begin this month on restoring Liverpool’s International Garden Festival site in order that the gardens be reopened in 2010. Developers Langtree will be carrying out the work on the site with a £2.1m grant from the NWDA, while a contribution of £1.6m from the ERDF is also being considered for the scheme. The total package of
investment sought comes to £3.7m. The plans will see the 82 acres site receive attention to its potential for residential accommodation, and a focus on restoring the Chinese pagoda and the Chinese and Japanese gardens, the lakes and associated watercourses and the woodland sculpture trails. Stephen Barnes, group development director at Langtree, commented: “We
are fully committed to delivering a long-term and sustainable future for this important site. Working with our public sector partners, we are putting in place the necessary pieces to deliver the gardens back into public use following years of neglect.” Once the works are completed, the Land Restoration Trust will be responsible for the management and maintenance of the park.
Liverpool airport’s prestigious guest THE NEW Hampton by Hilton Hotel at Liverpool John Lennon Airport was opened at the end of September by Liverpool TV producer and culture representative Phil Redmond. The airport is the first Hilton branded hotel to open in the city; the second being the new Hilton Hotel at Liverpool One. The hotel has 160 air conditioned guest rooms with facilities including complimentary high-speed internet access and pay movies. It’s designed to host small meetings for up to 30 delegates in its three naturally-lit meeting rooms. There is ample onsite parking through use of the new
Hampton by Hilton Hotel
multi storey car park upon which the hotel is sited. Phil Cordell, global head, focused service and Hampton brand, said: “The Hampton by Hilton product has received a very positive response internationally and we are very excited to be working with The Peel Group to gain further momentum and growth for the brand in Europe. The continued success of the Hampton brand will
I’m sure filter through the UK and for Hampton by Hilton to become the number one hotel choice in the future in its segment, delivering value for both business and leisure travellers.” Mark Whitworth, Peel Airports’ group chief executive said, "This milestone for JLA adds another important element to the mix of infrastructure associated with a successful regional airport.”
Royal Liver Building atrium
THE WORK to transform the north/south corridor and the west entrance atrium at the landmark Royal Liver building has now been completed by Claremont Group Interiors. Appointed by the Royal Liver Group, Claremont was tasked with meeting several objectives in their refurbishment of the atrium, including maximising the entrance’s existing features as well as creating a sense of arrival and focus which would complement the building as a whole. Over a period of 22 weeks, the space was stripped back to the core ensuring that all original features were retained and refurbished. Quality lighting, classic decoration, and graphics were applied to create an elegant and timeless solution appropriate to the iconic building, which is part of the history of the Royal Liver Group and the City of Liverpool. Peter Fane, Royal Liver Group’s head of property, said; “The Royal Liver building has always been an iconic building in Liverpool, but for a long time the interior has not matched the standing of the exterior. The work Claremont has carried out gives a modern twist to the original layout of the building and through sensitive refurbishment the internal area now equals the quality of the external facade. “In terms of providing commercial space, the Royal Liver has upped its game regarding the quality of its offering and we have seen a marked increase in enquiries over the last few months.” MOVE COMMERCIAL 11
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£3m for The Rack Knowsley makes a healthy sale HIGHCROSS developers have sold part of their ownership of The Rack in Deacon Park, Knowsley for a price of £3.05m. PCT Healthcare purchased the property, and Jones Lang LaSalle advised Highcross on the deal. The development of industrial warehouse space is situated across a five acre site, on the intersection of the M57 and A580 East Lancs Road, and forms part of the Knowsley Industrial Estate. A unit of 79, 263 sq ft is currently let to Movianto UK Ltd on a 10-year lease for a rent of £3.75 sq ft. Matt Stretton, associate director in Jones Lang LaSalle’s national investment team in Manchester, said: “After successfully letting the unit to Movianto UK, Highcross seized the interest from private investors who were attracted by the 10-year unbroken lease term to a company in health care, one of few sectors that are currently expanding.” Other occupiers at the site include QVC, St Ivel, Vertex and DHL.
The Rack, Knowsley
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Green light for skyscraper Pall Mall office tower approved A £70m office development on Pall Mall in Liverpool has been granted planning consent. The new tower block planned to sit on the edge of the commercial district will be developed by Northern Irish firm West Bay Capital to comprise 228,000 sq ft of offices, with a retail area and glazed atrium spanning 19,100 sq ft. The plans consist of two buildings of eight and 18 storeys, designed by architects Broadway Malyan at 30 Pall Mall. Director at West Bay Capital, Ashley Moore, commented: “I am delighted the planning committee has granted planning consent for 30 Pall Mall. It will act as a springboard for Liverpool as the UK recovers from the recession by delivering high quality office space.” On the subject of the news that 5,000 Ministry of Justice jobs are expected to relocate to Liverpool from London, he added: “We have always viewed 30 Pall Mall as an
CGI of 30 Pall Mall, Broadway Malyan
important site that would signify the expansion of Liverpool’s office economy. We have been determined to support Liverpool’s bid to attract the Ministry of Justice. The city has
a strong offer in terms of skills, infrastructure and quality of life; we can now offer them a world class building that will meet all of the MOJ’s requirements.”
Flexibility and incentives for South Liverpool The Dylan Harvey Business Centre
THE DYLAN HARVEY BUSINESS CENTRE, located in Speke, south Liverpool, is set to attract tenants and investors to its imposing, state of the art commercial premises with flexible terms. Managing agents B1 Ltd have created 92,000 sq ft of office space across 184 units of 500 sq ft, and the development is set to open its doors in December this year. Firms can take the space on flexible terms, and vacate giving just
one month’s notice. Suites at the site can range from 500 sq ft to 12,000 sq ft, comprised on 500 sq ft floor plates. The facilities also offer car parking, staffed reception areas, boardrooms, and full climate control. Director at B1 Ltd, John Turner, commented: “The Dylan Harvey Business Centre is designed to offer small and medium sized businesses the sort of presence normally only affordable to multi-
nationals and blue chip companies. We believe that businesses should be able to welcome staff, customers, and associates to facilities they can be proud of, without paying through the nose. It really makes a difference to how a business is perceived. “As an added incentive, if firms choose to buy space within the first three years of renting, they will also receive all of their rent back.”
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Move Commercial News
Historic jewel receives a polish £500k first phase refurb complete
The restored Victorian spiral staircase within 14 Castle Street
A £0.5 MILLION refurbishment of Grade II listed 14 Castle Street has now been completed by the Kilpatrick Property Group Ltd and premium office spaces in suites of 2,000 sq ft are available. The first phase of the rolling three-year refurbishment period in the renowned building includes a superb glass atrium and Victorian iron spiral staircase. Above lie four floors of office space totalling in excess of 20,000 sq ft divided into suites of approximately 2,000 sq ft each, set either side of a central glazed atrium area and spiral iron staircase. Glasgow based Kilpatrick Property Group Ltd purchased 14 Castle Street along with 10 to 18 Castle Street, through their subsidiary
company, Maplerow Ltd, in summer 2008 for £2,050,000. The acquisition includes four ground floor retail units, occupied by Furness Building Society, Carphone Warehouse, Origin Rejuvenation Clinic and Looks. Acting as joint agents with CBRE, Andrew Owen of Mason Owen said: “This is a wonderful building which perfectly blends the latest requirements of a modern office. Beautiful period features have also been retained, such as the stunning central atrium. “Castle Street remains a popular location for occupiers and we are confident that following the extensive refurbishment the office will prove popular within the marketplace.”
Exchange Flags is already home to high-profile tenants including Brabners Chaffe Street, Ministry of Defence, Deloittes, Knight Frank, Philpotts and Coffee Republic. Ian Sherry, development director at UK Land & Property commented: “We wanted to find an operator that shared our vision and delivered the
quality to match the existing offer at the Flags. As Sakura is an independent restaurant, the offer will not only be of a high quality, but also unique to the area. Exchange News will also take advantage of the high footfall at the Flags and compliment existing operators Coffee Republic and Philpotts.”
Exchange Flags adds to the mix Teppanyaki takes space UK LAND & PROPERTY, in a joint venture with Pochin Developments, has announced Sakura as its first restaurant operator to sign up to Exchange Flags in the heart of Liverpool’s business district. The Japanese teppanyaki, noodle and sushi restaurant has taken 6,200 sq ft of leisure accommodation on the
Exchange Flags, ©McCoy Wynne
ground floor in Walker House on a 15year lease. The restaurant is undergoing a £0.5million fit-out and, when complete, will offer external seating and decking overlooking Exchange Flags square. Newsagents Exchange News have also signed up to 500 sq ft of retail accommodation on a 10-year lease.
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Literary ambition £50m restoration for Liverpool’s Central Library THE SCHEME to restore the historic building on the city’s cobbles is set to form one of the biggest library redevelopments in the UK. The project will see a new entrance to the ‘main library’ with a ‘literary pavement’ and front and rear access, five new floors with better access and facilities, a new repository and conservation studio for repairs to the city’s masterpieces. The development, which also includes a new rooftop atrium and terrace overlooking St John’s Gardens, will be undertaken by joint partners Inspire Partnership, Amber Infrastructure and Shepherd Construction. The grade II listed parts of the William Brown Street building in Liverpool will be restored to their former glory, including the façade, and the Picton, Hornby and Oak reading rooms. Sections behind the façade which were built in the 1950s
Aerial view CGI of Liverpool's Central Library
and 1970s following World War II bomb damage will be demolished and rebuilt to offer the public enhanced facilities. The project will also include a new home for the Liverpool Record Office which will house 14km of archives and some of the city’s most
historic treasures from the last 800 years, such as the original 1207 charter, in purpose-built, controlled storage. Cllr. Warren Bradley commented: “This is the biggest ever single investment in the city’s library service and will create a stunning
building the whole city can be proud of. The scheme will enable us to upgrade and restore the much-loved historic parts of the building, creating a first class 21st century facility.” Riverside Park at the Wirral Work is scheduled begin next InternationaltoBusiness Park summer.
Feast your eyes Castle Chambers’ new look is fit for a king CASTLE CHAMBERS, in the central business district of Liverpool, has undergone a transformation of its interiors. The £2.5m renovation project nearing completion has attracted a new occupier with San Carlo, a premium Italian restaurant chain with a venue in Manchester, committing to the building. Developments in the city mean that the building is now even more prominently positioned for the city centre. Situated at 43 Castle Street, the building is approximately 50 years old and so the refurbishment taken place has been sensitive. New entrances, lifts
and windows, and a comprehensive fitout of the exterior, common areas and available office space, have transformed the address. CBRE, a tenant at Castle Chambers, managed the refurbishment process, and are joint agents with Hitchcock Wright & Partners. Mark Worthington, director of office agency at CBRE North West, commented: “In terms of the remaining space available, we have around 16,000 sq ft of fully refurbished, air conditioned accommodation available ad a whole, or in suites from approximately 1,000 sq ft upwards.”
The reception area at 43 Castle Chambers
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News Move Commercial
Bruntwood scores a hat trick Three new lettings for Liverpool portfolio Howard George
Cool deals for CBRE CB RICHARD ELLIS secured three major commercial property deals in October, with the sale and letting of over 1m sq ft of industrial space across Merseyside. The Vault, a 610,000 sq ft high bay warehouse facility at Liverpool International Business Park, has been sold to B&M Bargains on behalf of Rockpoint. In addition, 240,000 sq ft at Royal London’s Pioneer Point development in Ellesmere Port has been let to Interserve, a leading facilities services provider. Chill Out, the 180,000 sq ft former Somerfield chill distribution facility in St Helens, has been sold to 151 Products on behalf of Threadneedle. Howard George, senior director of industrial agency at CBRE, commented: “It’s great news for Merseyside to attract three new major occupiers to the region who will all be investing heavily. Our figures suggest that take up has reached 2m sq ft across the north-west so far this year and we are confident that with a further 1m sq ft under negotiation we will see annual take up figures pass the 3m sq ft mark which will be way above average figures for the region.” CB Richard Ellis acted as joint agents with M3 on The Vault, M3 and Lamonts for Pioneer Point and King Sturge for the Chill Out sale.
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SHEPHERD CONSTRUCTION, Tower Enterprise Funding and Black Stripe Marketing have signed leases to move into new city centre premises. Investment specialist Tower Enterprise Funding has signed a ten-year lease on a 2,100 sq ft suite in recently refurbished The Plaza on Old Hall Street, while Shepherd Construction has taken 2,800 sq ft of space in the Cotton Exchange on Bixteth Street. Black Stripe Marketing will occupy a 545 sq ft office in Queens Building on Castle Street in a three-year lease. Dennis Fenna, creative director at Black Stripe Marketing, commented: “As a design and marketing consultancy, we chose Queens Building as it is a perfect location, putting us close to our clients and making us a real part of the business community.”
Queens Building, Castle Street
Colin Forshaw, head of sales at Bruntwood, commented: “The varied nature of these lettings is testament to the breadth and quality of our portfolio. Businesses are increasingly looking for flexible
terms and the strength of our Liverpool properties is in the ability to offer lettings from 150 to over 100,000 sq ft, short-term contracts and serviced accommodation across a number of locations.”
New business in the frame Ellesmere Port welcomes new tenant
Waters Business Park
A NEW TENANT has arrived at the Waters Business Park in Ellesmere Port. Premier Frames Ltd, suppliers of UPVC windows, doors and conservatories, has recently completed a lease of the 3,062 sq ft Unit 3 at the Oil Sites Road site. The unit at Waters Business Park is the
company’s sixth distribution centre and services a wide area including Wirral, Chester and North Wales. Bruce Copplestone of Premier Frames commented: “We are delighted with the new unit. The location was a key factor in our decision to locate at Waters Business Park. The position adjacent to Junction 9 of the M53
provides excellent accessibility for our clients. Agents, Mason & Partners and Legat Owen are marketing the remaining units, ranging from 3,000 sq ft to 4,500 sq ft, which have planning consent for B1, B2 and B8 uses. Units can also be combined to cater for up to 18,000 sq ft.
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Move Commercial News
Businesses connect at Langtree site
Auction sales hit £1.5m
Hat-trick of deals at Centrix@Connect
DEVELOPERS Langtree have announced a hat trick of deals at its serviced offices in north Liverpool. The state of the art 18,000 sq ft business centre is situated at Connect Business Village off A565 Derby Road. New tenants to join the scheme include Modo Homes, a residential letting and management agent, which has taken a four-person office on a three-year lease. Director, Paul Horton,
commented: “Due to the expansion of our business we required larger premises, and being in the property industry it was a must that our offices reflect the right image to our clients. The new and modern offices at centrix@connect present extremely well and its close proximity to the motorway network means we are able to service our clients’ needs wherever they are situated.”
Conister Finance & Leasing and Just Trucks have also take two-person offices on 12 month and six month leases respectively. Across the Connect Business Village site, self-contained offices are available for lease or freehold from 1,270 to 3,330 sq ft or for a combination providing up to 15,000 sq ft. The joint agents for the site are Keppie Massie and Roy Backhouse & Co.
Retail in Liverpool IN LIVERPOOL, the Metquarter has signed up a further tenant in its latest list of new fashion and beauty retailers. Claudia Pink has signed for 152 sq ft, alongside recent new occupiers Kirsty Doyle, the Liverpool-born fashion designer, Jo Malone skincare and fragrance and Lash Out Lashes. The recent extension of the M.A.C store has now made its Liverpool Metquarter venue the largest in Europe. At Liverpool One a new Habitat store, providing home furnishings, is opening its latest concept store on Peter’s Lane. The store, anchored by Flannels and other nearby fashion retailers Jigsaw, Ted Baker and Karen Millen, is situated to complement the mix of luxury brands already secured at the site. A Whistles store is also set to arrive in the near future. Liverpool entrepreneur George Davies has also launched his new ladies’ fashion line, GIVe, in the landmark development as he opens 25 stores in the UK.
The Metquarter
AUCTION HOUSE Smith & Sons secured sales of over £1.5m during their latest property auction at the Village Hotel in Bromborough. In under an hour, 19 of the 21 lots were sold, each meeting the reserve, with some exceeding guide prices by up to 30 per cent. Lot 20, a mixed residential and commercial investment on Banks Road, West Kirkby, reached £134,000 from a guide price of £90-110,000. Chris Johnson, partner at Smith & Sons, commented: “Auctions are a sound barometer of how the market is changing and today’s results are definitely an improvement on our last auction some three months ago. In the lead up to the auction there was a clear increase in enquiries and viewings. We are now inviting entries, particularly properties requiring refurbishment, for our November auction.”
North-west sites for Home Bargains LIVERPOOL-BASED Home Bargains has revealed forthcoming expansion plans would include new units throughout the north-west. Parent company TJ Morris is currently expanding its warehousing capacity in Axis Business Park, Gillmoss, from 400,000 sq ft to 800,000 sq ft. Retail director Joe Morris commented: “The search for new store sites is nationwide, from Glasgow to Wales and the M4 corridor to outside the M25, but there is plenty of scope still in the heartland of the north-west.”
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TO LET – RETAIL & OFFICES LEIGH SPORTS VILLAGE ATHERLEIGH WAY, LEIGH
Leigh Sports Village is an £83m project including a 10,000 seat stadium, sixth form college building, sports facilities, 150 bed hotel, offices, leisure and specialist retail facilities including a health & fitness centre, together with a planned supermarket. Leigh Sports Village is located off Atherleigh Way in Leigh, within one mile of the A580 East Lancashire Road, which provides access to Junction 23 of the M6 and the M60/M62.
• RETAIL AND OFFICE ACCOMMODATION • EXCELLENT ACCESSIBILITY THROUGHOUT THE REGION • AMPLE ON SITE CAR PARKING LOCATION
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Move Commercial News
Green light for Co-Op HQ
59/61 Lord Street
Auction sale on the high street Lord Street period property sells for £2.1m
THE CO-OPERATIVE GROUP has received planning permission from Manchester City Council to build its new head office in Manchester. Approval was granted for the 325,000 sq ft of open plan office space across 15 storeys located at the city’s Northern Gateway. The new building, designed by architects 3D Reid, will be constructed on land on Miller Street opposite the Co-operative Insurance tower. It will serve as the head office for The Cooperative Group, the UK’s largest mutual retailer, when it opens in 2010. It’s believed that the new tower will become a significant part of the regional centre as the site forms the first phase of the CoOperative’s regeneration and The Dylan Harvey Centre redevelopment of Business the current site. Group chief executive Peter Marks said: “We intend the building to reflect the continuing success and ethical values of the organisation in its design, construction and its relationship
CGI of the new head office for The Co-operative Group
both with employees and surrounding communities.” Sir Richard Leese, leader of Manchester City Council said: “This major commitment that the Co-Operative is making to Manchester is enormously
Tenants speak up
Speakers House
AN END-TERRACE period building at 59/61 Lord Street in Liverpool city centre was sold for £2.1m at auction. Currently housing communications retailer T-Mobile, the investment opportunity generated considerable interest in the room, organised through agent Jones Lang LaSalle in the capital. The current rent for the property is set at £176,400 per year, and the floor space totals 2,000 sq m. Occupiers include Bell Street Estates on a full repairing and insuring lease until 2058, and the ground floor has been sub-let to T-Mobile for 15 years until 2015. Auctioneer at Jones Lang LaSalle, Richard Auterac, commented: “With a surge in demand for superior properties like this, coupled with a shortage in supply, prices in the auction room have now started a rapid recovery process and the era of picking up bargains at the prime end of the market may well be over.” Nearby retail occupiers include BHS, Barclays Bank and Debenhams.
welcome. The iconic headquarters building is the clearest demonstration possible of a strong approach to quality and the creation of a place where people will want to work and visit.”
Four new occupiers at Speakers House
THE CO-OPERATIVE Insurance Society, advised by DTZ, has announced four new occupiers at Speakers House in Manchester. A total of 11,284 sq ft of office accommodation at the refurbished building on Deansgate in Manchester
city centre has been let to SRJ Marketing, Community Foundation, Doctor Net and Millward Brown. Joint agents DTZ and WHR are letting out a further 11,400 sq ft still available at the premises. James Raspin, office agency surveyor
at DTZ commented: “We are extremely pleased to have secured four new occupiers at Speakers House. These lettings show that despite the current challenging conditions there is still activity in the market for the right product at the right price.” MOVE COMMERCIAL 19
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Appointments the capital markets team in the north-west, commented: “Rob’s key role will be to work closely with the other successful CBRE departments in Liverpool to help grow investment business in the city and surrounding region.”
Jonathan Brown
Halliwells strengthens and expands executive management team Law firm Halliwells has strengthened its executive management team. Managing partner Ian Austin has assumed the new role of executive chairman with corporate partner Jonathan Brown, who was previously head of the firm’s Liverpool office, taking on the role of managing partner nationally. Corporate partner Sue Russell has taken over as head of Halliwells’ Liverpool office, and corporate partner Alec Craig remains as senior partner. In his role as managing partner, Jonathan Brown will implement the firm’s strategy and manage the firm’s operations and budgets. He commented: “I am delighted to take on the role of managing partner. This is a sensible step for a business of our size operating in the current economic climate. “By expanding our executive management team and clearly dividing roles and responsibilities, we are well placed to drive the firm forward and take full advantage of the market as the economy comes out of recession.”
Rob Woods
Capital markets team expands A new associate director, Rob Woods, will be joining CBRE’s capital markets team in the north-west. Rob joins from Cushman & Wakefield, where he obtained extensive experience in property investment. He’ll be based at CBRE’s Liverpool office working with key and existing clients. Simon Wood, senior director for 20 MOVE COMMERCIAL
New regeneration specialist Liverpool-based regeneration and economics advisor Amion has appointed Carmel Booth as a director. Chartered accountant Booth is a specialist in the regeneration sector of consulting, and has experience of working with the Homes & Communities Agency, regional development agencies and local authorities. Amion is based at Horton House at Exchange Flags.
The Hub is a new business support facility based at the University of Liverpool. The Hub at Foresight delivers a new concept in meeting and networking space complementing the existing award winning facilities. Key to the success of the Hub is the technology that allows it to be used as a multi-purpose space for informal meetings, networking and virtual meetings. Full business support facilities provide an 'office-from-office' environment and a gateway to the expertise of the University of Liverpool. For details of membership, contact the Foresight Centre on 0151 794 8060 or foresight@liv.ac.uk
Carmel Booth
Construction lawyer takes senior role Law firm Hill Dickinson has recruited a senior consultant to its Manchester office construction team. Edward Davies joins from Pinsent Masons, where he set up the firm’s Manchester office and he has been recognised in the Chambers & Partners director as a leading construction lawyer for over 14 years. Davies commented: “This represents a new strategic direction for me. Hill Dickinson, as the largest law firm in the North West, gives me an ideal platform to pursue this”. Destination director appointed Liverpool City Council has appointed a new director of Destination Liverpool to oversee the city’s £1.3bn visitor economy sector. Alison McRae, who has a 17-year record in tourism and economic development, takes up her post this autumn to coordinate strategy with Liverpool Vision, The Mersey Partnership, tourism directors in neighbouring local authorities, NWDA and Visit Britain. Alison commented: “The city’s tourism offer is already strong and it’s great to see that it is continuing to invest in assets such as the new Museum of Liverpool. My challenge now is to develop this unique brand and work with partners to take the city here it needs to be in 10 to 15 years time.”
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Move Commercial News
One Central Park attracts European investor ONE CENTRAL PARK in East Manchester has attracted a new German occupier to its office accommodation. FIS Information Systems UK, which has offices in Germany, Eastern Europe and the USA, specialises in invoice recognition and processing software and master
One Central Park, photograph by Jill Jennings, image supplied by Northwest Regional Development Agency
data management. One Central Park is its first office to open in the UK, where the sales and marketing team is expected to grow. The NWDA has been working with the company to secure its move into the north-west. Mark Hughes, executive director of economic development at NWDA
commented: “Foreign direct investment is a crucial economy driver for the north-west. Last year the region secured 176 investment projects, creating or safeguarding over 11,000 jobs, and we are working hard with our partners to build upon these high investment figures and secure further successes
for the region.” The business park development cost approximately £18m to build, with over £15m provided by grant funding. Seen as a catalyst for creating new jobs in the region, the park was also designed with the regeneration of the immediate area in mind.
Wirral waterfront’s transformational plans
Proposed regeneration plans for Rock Ferry Waterfront
AN AMBITIOUS scheme to redevelop a neglected area of Wirral’s coastline has been unveiled. The regeneration proposals for Rock Ferry form part of the wider Mersey Coastal Park strategic plan which will be unveiled in a number of phases. The Rock Ferry scheme aims to regenerate the existing Rock Ferry pier to become a public monument, focal point and regional landmark. There will be improved access to the waterfront complex from the Rock Ferry bypass and provision of a small marina at the end of the pier. The plans also include new community facilities, improved facilities for Royal Mersey Yacht Club, Tranmere Yacht Club and Liverpool Yacht Club, and a limited amount of
residential and commercial development to help fund the regeneration. Cllr. Jean Stapleton, cabinet member for regeneration in Wirral, said: “Such proposals bring significant economic and social benefits not only to Wirral but also to the Liverpool City Region.” The plans are finding support among the local community and Cliff Renshaw, chairman of the development committee at the Royal Mersey Yacht Club commented: "Rock Ferry is a very important and strategic location and this development will provide access to the River Mersey and the Irish sea at all states of the tide. The facilities will be a magnet to sailing enthusiasts from all over the north-west."
Quayside location SMITH & SONS has leased Number Six Abbots Quay to Cammel Laird Shiprepairers and Shipbuilders Ltd. The maritime specialists will re-locate its group headquarters to a 4,500 sq ft
site at the Abbots Quay Business Park in Monks Quay, Birkenhead. Cammell Laird has taken residence at the site, adjacent to the shipyard, on a 10-year lease. Smith & Sons has acted as
commercial property agents for the business park, which houses 30,000 sq ft of business space across six detached buildings. Cammell Laird chief executive John
Syvret commented: “We have been looking for some time to set up our group headquarters and the location of this building, adjacent to the ship yard, is a logistically perfect position for us.”
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Key events One Derby Square launch
Inward investment’s bright look out By Lucy Oliver lucy@movepublishing.co.uk The launch of the newly refurbished and rebranded One Derby Square saw property professionals, agents and invited guests gather to admire the elegant Grade A suites overlooking the law courts and the central business district.
1 1. Mark Worthington, CBRE, Lord Mayor, Councillor Mike Storey, Anil Shivdasani, Mordril Properties Limited and Andrew Owen, Mason Owen
A lunch was served from Pret A Manger, one of the building’s tenants, and a prize draw organized by Mordril estate director, Anil Shivdasani. Cllr. Mike Storey was also in attendance, along with joint agents Mason Owen and CBRE.
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2. Jonathan Baucher, Cushman & Wakefield with David Porter, Knight Frank and Rupert Baron, Colliers CRE 3. Neil Kirkham, Hitchcock Wright & Partners receives voucher prize from Anil Shivdasani, Mordril Properties Limited 4. The Right Worshipful, The Lord Mayor of Liverpool, Councillor Mike Storey adresses the guests
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5. Fraser Bryce, Bingham Davis, Tony Bostock, CBRE, Mark Doohan, Falconer Chester Hall and Jason Howard, Ridge and Partners 6. Fraser Bryce, Bingham Davis, Mark Doohan, Falconer Chester Hall, Andrew Willoughby, CBRE, John Fender, Mordril Properties Limited, Ian Jefford, Coutts & Co., Anil Shivdasani, Mordril Properties Limited, Mark Worthington, CBRE, Chris Foran, Peel, Andrew Owen, Mason Owen, Ron Smith, Wilkins Kennedy and Tony Bostock, CBRE
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7. Ron Smith, Wilkins Kennedy and Jack Stopforth, Liverpool Chamber of Commerce 8. Chris Connor, Mason Owen, Nick Rice, CBRE, Peter Hitchcock, Hitchcock Wright & Partners 9. Lucy Oliver, Move Publishing with Anil Shivdasani, Mordril Properties Limited 22 MOVE COMMERCIAL
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TO LET
Headquarters Office Opportunity – 5,099m2 (54,885 sq ft)
0151 255 0755
MOVE COMMERCIAL 23
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As we come to the end of our dinner at Simply Heathcotes in Liverpool, Paul Heathcote, the man behind the Beetham Plaza venue, informs me of his desire to soon climb The Matterhorn, one of the highest and surely one of the most daunting peaks in the Alps. It is an indication of the unassuming drive and confidence of the man that, at a time when many others are looking merely to consolidate, Paul is always looking to push the boundaries of the talent and imagination.
Scaling new heights The economic downturn, which has inevitably affected the restaurant business as much as any other industry, is nothing new to Paul Heathcote, who thrust himself into the frying pan during the midst of a recession in 1990. Paul, who had spent 12 years under the tutelage of Raymond Blanc at the renowned ‘Le Manoir aux Quat' Saisons, sold his home to fund his first venture – Longridge, near Preston – in what he describes as the then “culinary desert” of the northwest. Despite the obvious pitfalls of the time, Longridge went on to emulate Oxfordshire’s Le Manoir in the prestigious group of restaurants with two Michelin stars, becoming the first of a Heathcote empire that went on to include the Simply Heathcotes brasseries, Olive Press restaurants and a prestigious catering business. “I sold my house, which had £35,000 worth of equity, I took the 24 MOVE COMMERCIAL
flat above the restaurant and we opened the doors” said Paul. “Then I found I needed more fridges, so I sold the golf clubs and the car and bought some fridges, which was kind of a good exchange because I wasn’t going anywhere in the car anyway! I grew the business from that. Some would call it confidence, some would call it stupidity! I didn’t think I was going to fail. I think if you go into business thinking you’re going to fail then you will.” Now in charge of a major operation, which also includes the London Road venue in Alderley Edge and the recently established Grado Restaurant and Tapas Bar in Manchester city centre, Paul certainly isn’t folly enough to take the current economic situation lightly, adding: “I think this recession has been tougher in some respects, partly because when I started in 1990 I was fresh in
business and you just made do. You’re very green when you go into business. If you knew all the problems that were going to happen and you knew how hard it was going to be you’d never do anything. What has been difficult now is we’ve grown a business and we’ve grown quite a big business. Suddenly you’ve got to explain that to a lot of troops, not just three or four people. I started with four full time staff and I’ve got 350 on the payroll now. I think it has stood us in good stead and I did start to go back and look at what we did 18 or 19 years ago and implement a lot of those things that we did out of sheer necessity. We didn’t have any cash then. The difference has been kind of retaining the cash now.” The medium-term business plan includes the continued expansion of the Olive Press venues, arguably one of Paul’s most successful ventures, of which there are seven dotted around
the wider region. “We’ll expand Olive Press because it’s been very successful for us. I’d like to have 12 sites and I wouldn’t want to take it any further.” Paul added: “What I’ve found is you spend your life working in top end restaurants and five star hotels, working your butt off to create the best food. Then you find that so much of the population would really just like a pizza. The amount of work that goes into a pizza is nothing like the effort that goes into creating a great fish dish. It can be somehow demoralising and sometimes enlightening that perhaps you don’t always have to work that hard on things. It’s just taken me a long time to learn that!” The affordable quality of the Italian fare at Olive Press has certainly proved popular with north-west diners; although Paul believes their tastes have shifted sufficiently over
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Paul Heathcote Entrepreneur
Heathcote File Born: Bolton,1960 Education: Bolton Technical College
Food Item Simply Heathcotes Liverpool boasts great British dishes using onlythe best locally sourced ingredients. The Sunday Classics menu, served from noon, is ideal for families, with 25 pence going to Childline from every meal sold from the children’s menu, while toddlers eat free. Telephone Simply Heathcotes on 0151 236 3536 to make a booking.
Heathcote’s Three Challenges 1. To expand to 12 Olive Press restaurants and win back the Michelin star at The Longridge 2. To take a step back from the business, working a four day week 3. To climb The Matterhorn the last decades to enable high-end offerings such as Simply Heathcotes to be a roaring success. “I moved back up to the north-west three years before I started in business and it was a culinary desert. It was awful. The suppliers were awful and there was no demand for good produce. It all went down south, or abroad or whatever and you’d have to go a long distance for a good restaurant. The north-west has definitely changed enormously.” Such is Paul’s faith in the north that he resolutely resists expansion beyond the region, particularly into London’s bloated restaurant scene. “I’m very settled and happy and I’ve no ego or ambition to grow a business outside the north-west. I think I’ve always been like that. I nearly ventured into London and the best decision I’ve ever made was to pull out. I think it’s a different set of rules there. I think you can get it
incredibly right in London for some strange reason that you don’t really know and equally you can get it incredibly wrong for some strange reason. Just handling staff and travelling from Preston, Liverpool and Manchester in that triangle is a week to week challenge. Travelling to London just isn’t for me.” Paul certainly has plenty on his plate as it is, with Grado Restaurant and Tapas Bar in Manchester a typically ambitious venture. Such is his commitment to the authenticity of the venue, which opened in the summer of 2008, he endeavours to collate an almost entirely Spanish staff. Paul said: “It’s a restaurant I’m really proud of because I wanted to do something different. The toughest part is that we’re probably a little bit ahead of our time and we’ve probably always done something a little bit ahead of our time. I sometimes wonder why I don’t wait
for someone else to do something and then go and copy it! I’m damn sure it must be easier! Writing something in Spanish, finding Spanish staff, conversation challenges, explaining menus to customers, it doesn’t always come easy. It gives you another set of hurdles to get over. At Grado we employ 70 per cent Spanish staff. I wish it was 80. All of our produce is either Spanish or local to the area. I think there’s an enormous amount of great Spanish produce out there that nobody ever touches. It’s a bit like saying Italian food is all pizzas and lasagnes and Spanish food is all paellas and sardines. It isn’t, there’s so much more to it.” The unwavering commitment to quality is no better exemplified than by Paul’s catering business, Heathcotes Outside, a sector which he entered following an invitation from then Preston North End
chairman Brian Gray to operate from the club’s Deepdale stadium. “People say ‘you can’t put passion into creating such large volume’ and it’s a load of nonsense. It’s about putting the right people in and implementing the right training. When people come back from a function and say “it was alright for a lot of people” I’m thinking “what’s alright for a lot of people?” That doesn’t sit with me. When we did the BBC Sports Personality of the Year at the Liverpool Arena we did dinner for 1,500 people and I thought ‘this is really good’. We had a load of people up from London and I thought we could do anything the Savoy or the Grosvenor could do and I just knew it was right.” As Paul tells me more major catering deals are in the pipeline for Heathcotes Outside, it is evident that he has made a mountainous culinary contribution to the region. MOVE COMMERCIAL 25
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David M Robinson, 4 Jubilee Place, Canary Wharf, London, E14 5NY 020 7538 2332 David M Robinson, 24 Church Alley, Liverpool, L1 3DD 0151 708 9725 David M Robinson, 28 St Ann’s Square, Manchester, M2 7JB 0161 834 0217 www.davidmrobinson.co.uk
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Lunchtime launch, New Islington Key events
The chips are up By Lucy Oliver lucy@movepublishing.co.uk
1 1. The unusual building enjoys a canalside location
The launch of Urban Splash’s mixed-use scheme in New Islington, Manchester, drew property professionals together at Chips - for fish and chips. Having taken inspiration from a photographed, Jenga-effect stack of chips, Alsop Architects-designed unique building overlooking
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the canal is an impressive space. The ground floor is generating interest among restaurant and bar end-users and around 50 per cent of the apartments have already been sold. Nick Johnson from Urban Splash informed guests about the building’s inspiration, and said he was proud to be part of the area’s regeneration, while Lynn Haime took enquiries from interested parties in the commercial space.
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2. Paul Raspin, Rob Yates and Alan Baldwin, DTZ 3. Clare Hodges, Urban Splash and Trevor Johnson, Creative Links 4. Urban Splash’s Nick Johnson welcomed guests
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5. Ian Fenton and Toby Gallagher, Urban Splash 6. Richard Hattan, Urban Splash and Michael Higham, Broadstock 7. Chris Stalker and Nick Johnson from Urban Splash 8. Sam Crothers and Nick Harrison, Our Studio
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9. Guests enjoyed chips at Chips 10. Oliver Rouse, RPS, Lynn Haime, Urban Splash, and Ben Gregory, RPS 11. Julian Rowe and Philip Meekin, P3 Property Consultants, with Alex Russell, WHR, and Peter Gallagher, P3 Property Consultants MOVE COMMERCIAL 27
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Muse Developments, formerly AMEC, has made its name through high profile, largescale urban regeneration schemes across the UK and, significantly, in complementary developments in the north-west region. With an emphasis on repaying public grants and a profit to the public sector joint MD Matt Crompton, a developer who has built his career in Manchester and the north-west, is proud of his company’s successful regeneration schemes and believes Liverpool’s multimillion pound Pall Mall project will truly transform the city.
An inspired investment The regeneration of Liverpool’s Old Hall Street and surrounds into a thriving commercial heart has inspired confidence in investors and local firms alike in recent years. Alongside refurbished landmarks, such as The Capital, and the RIBAaward winning 20 Chapel Street, significant large-scale redevelopment in St Paul’s Square has been driving up rents and perceptions of the business quarter. Muse Developments’ work in and around St Paul’s Square, set to culminate with the one million sq ft Pall Mall development over the next 10-15 years, has truly changed the face of the city as it looks both inwards and out. The scale of the project, currently being masterplanned with the NWDA and Liverpool Vision, is one from which a less ambitious developer would have shied – on completion, its value could be in excess of £300million. For Matt Crompton and his surveyors, however, the size of the challenge gave the formidable task an appeal, as Matt himself commented: “It’s difficult, but then the best things always are.” After leaving school, Matt began work as a contractors’ quantity surveyor, and qualified as a chartered surveyor at Salford Tech on day release. He started to practise with the Seddon Group, working on public sector projects for the various 28 MOVE COMMERCIAL
local authorities in south Manchester, until the firm set up a joint company with Chestergate Investments. Matt then turned his focus to commercial schemes, with the support of his superiors, which he found “more exciting than dayto-day quantity surveying”. He joined AMEC Developments 20 years ago, as a surveyor, and worked his way right up to the top, with a stint as development director before becoming joint managing director in the Manchester office, a former grain silo which the firm redeveloped into high spec buildings with beautiful canal views. Matt said: “The Muse business is based upon large-scale redevelopment and regeneration; not small infill projects. They’re just as much work to identify, create, market, let and sell, but aren’t as rewarding as a multi-phase scheme. We want to think big, and it takes us to where the market is less competitive.” At the moment, Muse is working on 22 projects, from its four offices in Manchester, London, Leeds and Glasgow. It’s a flat-structured company, with a board of four, and the directors are mobile. One large scheme currently underway is in partnership with British waterways, working alongside Aviva and Igloo to redevelop a series of redundant canalside buildings. “That’s a large project, with a number of schemes,
and a number of phases. We’re also putting 25 per cent into a scheme to encourage institutional investment into urban regeneration. Typically pension funds look at vanilla, longterm, making safe as houses investments, but there’s a need to get money put into more challenging areas. We worked alongside the other partners, Legal&General and the Homes & Communities Agency, to help set up English Cities Fund, to only focus on regenerating areas of deprivation.” At the time, Liverpool fitted this status, which set the ball rolling for the St Paul’s Square scheme. The site was split in two, and Muse speculatively developed a building which was sold to Hill Dickinson solicitors. Matt commented: “That first phase was our first venture as Muse Developments, through the English Cities Fund, with support from the NWDA. The step change which it brought in rents was something which Liverpool wasn’t used to seeing at the time. There have always been developments with end-users in mind, but when that happens the values are judged according to the costs. Injecting some grant money means that the quality can rise and costs increase, but then the rental values rise and grow. At the time, they were stagnant about the £16 per sq ft mark, and that was for what was being done on the waterfront.
It was a leap of faith at the time, in trying to pull the market forwards. The first letting to Hill Dickinson saw rental values rise to £18 per sq ft, which is an increase of 12 per cent. “What we’re trying to do is to use the quality of the buildings to bring the rent up. Hill Dickinson saw the vision we had for the space and moved five offices under the one roof.” In Barbary Square, Manchester, a similar tactic saw tenants move into the scheme after staff at various firms experienced a certain ‘office envy’. “The right sort of building projects a certain image for a business and there’s a feeling of, ‘let’s pull our socks up or we’ll be haemorrhaging staff’ and then there’s a positive spiral. It worked in Manchester and I thought, there’s no reason why this won’t work in Liverpool.” The first phase of the scheme comprises 125,000 sq ft of office space, a restaurant, car park space, and 50 residential apartments. The second will include 133,000 sq ft of Grade A office space, with energy saving and modern features, before the Pall Mall phase forms the new central business district in Liverpool. The masterplan is for more than 1.5m sq ft of high quality commercial floorspace, retail, residential, car parking and a redeveloped public realm. It’s an ambitious proposal for the current market, a fact which
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Matt Crompton Movers & Shakers
Muse does not dispute, but which the firm feels confident in working through: “When we sold off the completed building we took advantage of an aggressive market, and were able to pay back the public sector grant in full, and a substantial profit – they actually benefited from letting us borrow the money for the development. Now, we’ve had the faith to keep going in a dire market with the redevelopment of the final phase of St Paul’s and with the Pall Mall scheme, again with public sector help, and we hope we’ll be developing into the recovery. We may be the only kid on the block, but it’s a risk we’re happy to take.” Mixed-use regeneration sets the tone for all of the projects Muse has been working on. St Paul’s will be, says Matt, predominantly commercial, but he is adamantly against building “commercial ghettos or residential ghettos” and it’s clear that active use of all the spaces in each building sits at the forefront of his mind, and is a priority for the letting and marketing team. “Ground floors of office buildings need animation, with retailers, bars, and other outward-looking businesses. People don’t want to look into offices and see files and messy papers,
they need to feel excited by the streetscape. Likewise it’s important to keep a mixed range of occupiers to ensure that the area is busy and animated throughout the day, and office workers and tenants in the apartments alike feel safe.” A similar scheme was developed successfully in Manchester’s bohemian Northern Quarter. As Matt continues: “In a better residential market, we delivered just under 400 apartments with Crosby Lendlease in the former Smithfield Market. There were also bars and restaurants, a hotel, and it now also has two galleries, a hairdresser, a firm of lawyers and the independent Bluu Bar living together. It wasn’t straightforward as we had to recognise the needs of every component who’d be using the building, and make sure none of the businesses impinged on the others. It required a very careful design, but it’s made it a community. We were looking at business plans and not balance sheets, and the concept for the Bluu Bar impressed us so that we worked with the owner, who had one other bar, to cater for the venue rather than sell the space to a bigger chain. Likewise, Pall Mall will be really amazing – a commercial scheme
but with some leisure, retail, and possibly residential elements, to keep it alive. I don’t want to see any more horrific examples of socalled ‘mixed-use’ where the ground floors of office or apartment blocks are boarded up because the space can’t be let to a retailer or a bar – it should be carefully managed.” It’s clear that Matt’s drive for business success is coupled with a sense of responsibility for not creating what he refers to as ‘clone streets’ and for making real regeneration happen: “There’s no shortage of people wanting to invest in Liverpool or Manchester, it’s just a case of providing the right product and timing. As a region, like the other regions, we need to capture international companies to invest before they gravitate to London, but we’re probably better off in the north-west as few cities are internationally renowned like Liverpool. It’s also more costeffective to run a business up here, and we certainly have all the requisite skill-sets. People talk about Liverpool’s great past and its history, but it’s much more than that. Now, with Grosvenor’s input in Liverpool One, and schemes like ours, we just need to keep taking it forwards and restoring confidence.”
Crompton File Born: 1961 in Leicester. Education: Yew Tree High, Northern Moor, Salford Tech. Career: 2001 development director at AMEC, 2006 joint MD at AMEC, 2007 AMEC sold to Morgan Sindall and became Muse Developments. Most admires: The successful mixed-use development, Potsdamer Platz, Berlin, West Germany. “It’s a big regeneration area and they had such vision for it. They didn’t say, ‘oh it’s too big, too complex, too difficult’ – they masterplanned it so that every building is different.” Proudest achievements: St Paul’s Square, Liverpool: “The faith we had in the city and the confidence that the NWDA had in us, as well as the fact that it worked.” Northern Quarter, Manchester: “We looked at the business plans rather than the balance sheets and, though it wasn’t the quickest or easiest option, it proved a success.”
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Planning consent for a number of schemes across the region is exciting potential new occupiers for these spaces. From office headquarters to new hotels, leisure facilities and centres of innovation, commercial property development is seeing confidence return. We’ve researched those schemes, both by private developers and those funded with grants, to explore the impact for the region and expected spin-off benefits.
The green light Women’s International Centre for Economic Development
Artist’s impression of The International Women's Enterprise Centre
Co-Operative HQ CGI of the new head office for The Co-operative Group
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Description: A 2,000 sq m centre to help 3,000 women set up in business in its offices, training and conference facilities with space for up to 80 business units. Concept: The centre is the first of its kind, set to run as a social enterprise. Location: Baltic Triangle, Liverpool. Developers: Kier North West. Architects: Nightingale Associates. Costs: £5.3m building. Schedule: Liverpool City Council has granted approval, and construction should start in January 2010.
Our verdict: This unique concept will occupy a prestigious position and make a significant contribution to social enterprise in Liverpool and across the City Region. The planners congratulated Nightingale Associates on the design and, with a background in health, education and science, we expect the firm to deliver a building of the highest standards.
30 Pall Mall Description: Plans for the Co-Operative Group’s new HQ in Manchester say there will be 325,000 sq ft of office space across 15 storeys. Concept: A building to fit the firm’s 21st century ethos. Location: Manchester’s Northern Gateway. Developers: BAM Construction. Architects: 3D Reid. Costs: None announced as yet. Schedule: Work will start at the beginning of 2010, and is expected to complete mid 2012. Our verdict: This scheme is expected to consolidate the Co-Operative’s presence in the city and the new facilities will no doubt prove significant for staff, visitors and associates, inducing a certain amount of ‘office envy’, and will surely contribute to ethical firm’s image in the business arena.
CGI of 30 Pall Mall, Broadway Malyan
Description: A state of the art office tower over 18 storeys. Concept: A scheme to raise rates and aspirations in Liverpool’s central business district. Location: Pall Mall, Liverpool, in new proposed central business quarter. Developers: West Bay Capital. Architects: Malyan Broadway. Costs: £70m quoted at this stage Schedule: Not yet confirmed. Our verdict: The fact that private investors are once again showing interest in developing, and not just in purchasing, commercial property, has to be good news for the property market. This substantial investment is set to prove a crucial part of the overall Pall Mall scheme which, developed in conjunction with the public sector and grant funding, will surely have a positive impact on rents and values in the city centre.
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Plans approved in the region Focus
Cottage Fields
Daresbury Science and Innovation Campus additional building
Daresbury Science and Innovation Centre Campus site
Proposed layout of the UK Sports Park facility on Longmoor Lane
Description: A sports facility and nature park. Location: Longmoor Lane, Liverpool. Concept: The site is designed as a one-stop shop for all manner of sports and leisure activities. Developers: UK Sports Parks. Architects: Not yet announced. Costs: £625,000. Schedule: The firm hopes to begin work in the first half of 2010.
Our verdict: The concept of this scheme is to deliver first class sporting and leisure facilities, contributing to the health and welfare provision of the area. In this venture, UK Sports Parks are following their investment at Lee Manor High School in Belle Vale Liverpool. At that site they are currently delivering a nine-hole golf course, all weather pitches and health club.
Description: A state of the art ‘growon’ building to provide up to 36,000 sq ft in office, workshop and lab space in high quality units. Concept: The building is designed to complement the innovation centre and provide a natural step for companies on campus, and to attract high-tech businesses from across and outside of the north-west. Location: Daresbury, Cheshire. Developers: The project is a joint venture partnership between NWDA, Science and Technology Facilities Council and Halton Borough Council
and a private sector partner is currently being sought. Architects: Not yet announced. Costs: Over £67m has been quoted so far. Schedule: Construction to begin January 2010 with the building ready for occupation early in 2011. Our verdict: The park won the UK Science Park Association award for Outstanding Science Park 2009 in September this year, and this new phase of the scheme should continue this work.
Description: An indoor BMX arena over 110,000 sq ft also housing the headquarters of the British Cycling Federation. Concept: The first indoor BMX arena in the UK, expected to attract over 120,000 users each year. Location: East Manchester. Developers: Public sector organizations are behind the scheme with contracts put out to tender. Architects: Ellis Williams Architects. Costs: Funding has been granted from
public agencies, including Manchester City Council granting £8.5m in July and £8, from NWDA. Schedule: Construction expected to being at the start of 2010, on a 15-month build. Our verdict: Public sector funding is behind this scheme, which should have significant impact on the regional leisure economy through spin-off benefits. It’s expected that the site could be a key training base for the 2012 Olympics.
SportCity Artist's impression of the planned BMX Arena at Sportcity
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Property investment and development company Langtree has been active at key regenerational sites in the north-west over the past 10 years. While expanding its remit across the north-east, Yorkshire and the Midlands, the firm has also added to its acquisitional arm with new developments under managing director John Downes to boast a net asset value of over £100m and a rental income of circa £15m per annum.
An incredible journey Langtree has recently made headlines for its part in the forthcoming regeneration of the International Garden Festival site in Liverpool, but aside from the firm’s hand in developing this most sensitive of spots, the business has been actively acquiring assets across the north-west, where the headquarters are based, and the surrounding regions. John Downes joined Langtree in 1997 as a development manager, before working his way up to take on the day to day running of the firm. With a background in regeneration “in the days before the term was fashionable – or even coined,” he says, it was from working in a mine in Parkside and Sutton Manor that he got into surveying and moved away from working underground. The scope and scale of speculative development for which Langtree is responsible, under John’s leadership, would be difficult to hide: “When I came here, 13 years ago, the business was a property investment firm. I took it in the direction of development, which was a sensible move in a rising market. Prior to that, the business had been in acquiring other people’s 32 MOVE COMMERCIAL
developments, and we still do that, but I introduced the development arm which meant that we could create our own investments, such as this.” He refers to centrix@newton, the firm’s Newton-le-Willows headquarters, and a speculative office development opened in the early 2000s by the then chancellor of the exchequer, Gordon Brown. He added: “We’re not a trading developer, and that has stood us in good stead. Instead we’ve built up a sizeable investment business and enjoy a substantial rent roll. Developing would be difficult at the present time, so the other sides to our business are useful; both acquisition and asset management. We have a staff of 42, including capable property managers, and across the team we have a useful range of skillsets.” In managing the business, John describes his approach as conservative; stating that his cautiousness may have cost him some opportunities, but that he has no regrets: “If we couldn’t understand the viability of a scheme then we didn’t go for it, and that’s stood us in good stead in recent months. We’re facing the fact that asset values are down, while costs
are increasing, but we have a strong balance sheet. We watch the pounds; there’s no magic formula to it – just hard work.” Speculative development, which in the past seven or eight years has been an important part of the business, is an aspect of the market John recognises as currently suffering. The firm’s track record in delivering successful schemes means that there will be a place for speculative activity in the future though, and attention to detail and the quality of the product will still be key: “It’s one thing building for a known client with a list of requirements, and quite another to build speculatively. For this reason, my role is very hands on, as it is for all our team. We have to be very big on presentation, and make sure that the offer is as good as it can possibly be.” The quality of the developments has attracted interest from public sector partners, notorious for the detail of their requirements, and Langtree has successfully delivered on schemes for regional development agencies (RDAs) across and outside of our region, recently winning the contract to manage the portfolio of the north-
east’s Regional Development Agency for the next 15 years, and the West Midlands’ Regional Development Agency’s land and assets for the next 10. Successful partnerships and joint ventures have also delivered schemes of pivotal importance to the region, and close to John’s heart. The firm set up between Langtree and the North West Development Agency (NWDA) a decade ago, Network Space, has seen small workspace premises developed for SMEs amounting to three quarters of a million square feet of office and industrial space across the northeast, Yorkshire, Staffordshire and the north-west. As though in turn, the NWDA has stepped in to support the firm on its redevelopment of the Otterspool site, along with Liverpool City Council. John said: “I was aware of the history of the Garden Festival site, as I think everyone is to a degree, and I had seen the grand plans for it which Planestation had in London. When the opportunity to acquire the site came up, we discussed it with the city council as we only wanted to take a role in the scheme if we could work hand in glove with them. They’ve been very supportive of us since we purchased it four or five
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Langtree Founding Business
years ago, although the developing and economic landscape has changed considerably since then. Not everybody has been as supportive; it’s difficult to find a solution that ticks the box for everyone. Now, we’ve come to a point where we have found a solution which is viable and does meet a lot of those objectives.” It’s not been a smooth path: “We put together a scheme, then there was a public consultation, a public enquiry, and then consent was granted in 2007. It’s just unfortunate that after two years of carefully crafting the scheme we’ve come out to see these economic conditions. However, the NWDA came in to support us financially and to bring forward the restoration of the gardens – which everyone wants to see – and then hopefully that will bring forward the rest of the process and the hard development earlier than would have otherwise been possible.” The journey for Langtree has been challenging, but it’s seen the firm earn its reputation. John comments: “I took the business in a regeneration direction when regeneration wasn’t the central plank – as it now seems to be – of schemes which go ahead. That was a conscious decision of ours, to work with the local authorities and English Partnerships, and so on, and we’ve built up a team who understand how it all works. I’ve seen the company grow from a light industrial investment vehicle into an established regeneration business, recognised across the UK, and that’s been very pleasing.” Strategic development inside and outside the region, from the redevelopment of the Odeon site in Bradford to the new £40m stadium for St Helens’ rugby league, and the International Garden Festival site, have drawn attention. The range and scope of the projects, away from the firm’s acquisitional activities, testifies to a passion for regeneration and a creative eye. For John, the Saints’ new stadium is a labour of love: “We’ve been in the process of this development now for 10 years. I’m looking forward to finally getting on site at the beginning of next year, and developing it over a 12 month build so that – hopefully it will be ready for the start of the new season in 2011.” There’s a twinkle in his eye now, and it’s clear that this business is not, for him, just a case of balance sheets. MOVE COMMERCIAL 33
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Key events Transport partners’ success
Sustainable transport plans win acclaim By Lucy Oliver lucy@movepublishing.co.uk
1 1. Jan Rowley, Liverpool City Council with Howard Farrall and Debra Mercer, Arriva North West
Merseyside Transport Partnership recently presented their annual progress report at their annual conference at FACT, Liverpool. Awards to recognise the businesses, organisations and individuals working towards a sustainable transport future for Merseyside, were presented by Jan Rowley, Liverpool City Council’s Assistant Executive Director for Environment, with TravelWise claiming three honours, including ‘Best Sustainable Transport
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Initiative’ and ‘Best School Travel Plan’. An increase in cycling across the region, growing rail passenger numbers, road safety improvements and continued investment in the transport network were among the successes revealed of the third year of Merseyside’s Local Transport Plan. Consisting of Merseytravel and the five local authorities of Knowsley, Liverpool, Sefton, St Helens and Wirral, Merseyside’s five-year Local Transport Plan is the £230m delivery programme of transport investment and service improvements for the region.
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2. Fiona Wilford, Department for Transport 3. Sarah Dewar, Liverpool PCT, Steve Atkinson, TravelWise, Kevin Ryan, Government Office NW and Michelle Cameron, Government Office NW 4. Patricia Byrne, Merseyside Police with Rod Holmes, The Mersey Partnership and Steve Dumbell, Your Travel Boroughwide
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5. Jan Rowley, Liverpool City Council with Phillip Spick, Shop Direct Group 6. Andy Hull, Liverpool PCT and Murray Grant, Merseyside Transport Partnership 7. Jan Rowley, Liverpool City Council with Tom Kelly, NHS Wirral 8. Roy Newton, Gtr Manchester Joint Transport Policy Trust and Lillian Burns, North West Transport Round Table
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9. Jan Rowley, Liverpool City Council with Alison Storrer, Landlife and National Wildflower Centre 10. Jan Rowley, Liverpool City Council with teachers and children from St Charles' School 11. L-R Neil Scales, MTP, Andy Hull, Liverpool PCT, Fiona Wilford, DfT and Jan Rowley, Liverpool City Council 34 MOVE COMMERCIAL
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A floating city Talking Point As the Queen Mary 2 graced the Pier Head, we took the opportunity to debate the benefits for the city and the region as a result of developing our cruise liner terminal for turnaround cruises. Businesswoman and Conservative Parliamentary Candidate for Wirral West, Esther McVey, and Liverpool City Councillors Gary Millar and Steve Rotheram joined me for lunch at Malmaison on the waterfront to discuss the potential for the facility.
Steve Rotheram and Gary Millar
Esther McVey
Should we be behind the further development of Liverpool’s cruise liner terminal? How is the current facility funded, and what is its business plan? EM: I want to say first of all that it’s phenomenal for the city that we have this terminal. The QM2’s arrival was like a scene from the movies; everyone wanted to be there. I’ve been looking into what the facilities earn for the city, and it’s something in the region of £13.3m including advertising and media coverage exposure – I’m not sure how you can break that down into hard facts. Now we need to sort out how we can make the most of this huge potential. What was the business
plan, and what is the model? GM: In my role as councillor, the terminal is under my remit so I know a lot of facts and figures. The original business plan was to have a port of call - why? We didn’t have £20m to invest in a facility but the EU came along and gave us most of it, with the direction that we must not compete with Southampton, Grimsby, Dover and others. I wasn’t around when Mike Storey and David Henshaw made the original decision to go down this route. Fast forward to 2009, and we’re thinking why didn’t they insist on a full
turnaround facility? The reason purely comes down to not the business plan, but what Europe was willing to give the money for. (The turnaround facility allows you to turn up with your passport and get on the ship and you can go anywhere in the world). The RDA (NWDA) and Europe, however, stipulated that Liverpool’s terminal would be a port of call and not a turnaround facility. We agreed to because we couldn’t get the money for anything else. Now when it comes to how it is run, the majority of the money coming in goes to Peel
who own the land and run the rope-handling organisation. The fees coming in from Carnival, Holland America, Cunard, Grand Princess and so on get paid to the city council, and then out again to Peel. Now, Peel has its own full turnaround facility at Langton Dock. If it were decided that we could develop this terminal at the Pier Head, we’d be in competition with Peel, so we need to come to a compromise not just with Europe, and the NWDA but with Peel. It’s an uphill struggle to convince all of the partners that we need to do this. MOVE COMMERCIAL 35
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EM: Will you then have a fundamental breach of contract, or will you argue that it’s not in competition? Have you looked into repaying the money to Europe in order to get out of the clause? It shouldn’t seem insurmountable. It seems to me that a lot of the negotiations seem to be particularly naïve. If the only argument being pursued is that we’re not in competition then we’d need to prove that we have a different market for cruises to tap into, and different routes to run. I’m also wondering, as you knew that Peel had bought out the Mersey Dock and Harbour and you knew it was here, you must have seen that conflict of interest at the beginning? To look at it another way, what we have here uplifts the value of what Peel Holdings has, so maybe stumping up the £9m from boosting the sort of cruise liners which will visit here is a possibility. I think there are things that need to be brought into question. GM: There’s £16m expected to come into the city as a result of the terminal in the coming year, but a £250,000 deficit each year. I think Peter Shanks, head of Cunard, confirmed that each of the 2,600 passengers on the QM2 each spend £230 locally in shops, on tours, across the city region – not just the city. The city council doesn’t get that, nor does the operator, it’s bars and hotels. EM: Would a taxation on the business centre then raise funds for a working model – if we identified the right people, rather than increasing everyone’s council tax? That could prove very difficult to pin down. Or could another company put up the money, and would it be worth their while to buy it out, like Peel? GM: It would be great if somebody like Peel or Merseytravel, or somebody used to operating a travel agency business, could put forward the money to do it. There have been discussions held with many bodies about what else we could do, of doing it in partnership with another organisation, but there has been no final conclusion to any of these as we have to sort out whether Europe wants the £9m back, or not. Even if we can come to a decision with Peel, are they going to pay off Europe? That discussion hasn’t been held yet. Is a turnaround facility something for which there is demand in Liverpool? GM: Southampton gets 300 cruise liners a year and we get 16. I spoke to Cunard about this and they said 36 MOVE COMMERCIAL
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We are a port city and we should be looking to expand our natural topography.
that nobody would use Liverpool to get on the ship, travel down the coast and then go to the Mediterranean. It’s too far, and it would cost the operator too much money. What they would do, is go around the whole of the UK and go to New York, Miami and Brazil – all the transatlantic routes. What they highlighted was, Southampton doesn’t get a huge amount of tourist spend. People arrive the night before but normally on the day, and they’re not spending any money locally. EM: I’ve been asking people who work on cruise liners, and they have said the same. They said that to exploit the American and Japanese markets would be by running more cruises around Scotland and Ireland from Liverpool. I wonder whether this is really our market? Liverpool has so many tourist attractions and perhaps we should exploit those and look at time schedules, and make proper plans for people when they get on the boat. Say to the visitors, people might be interested in the coast, in birdwatching, cultural tours, or in Liverpool One, that we have tours lasting one hour, three hours, or five hours. It takes proper planning and marketing. SR: Geographically we are ideally placed to take advantage of our historical connections with America and the transatlantic shipping routes. However, it must be noted that not all of those historical connections are things to be proud of - such as the transatlantic slave trade. Would a ‘turnaround’ really bring in more revenue to the city? SR: I’d hope that any increase in ship numbers would have a proportional impact on visitor numbers. We need
to make Liverpool an international destination of choice and more river traffic of this nature would mean more visitors to our city. Any increase in numbers to Liverpool would have a positive knock-on effect to the wider sub-region and beyond, including Wirral. Individual attractions - such as the Lady Lever - would also benefit. EM: If I came in to Liverpool, fully informed, then I personally would spend a lot more money here. I think we have a city here of historic and cultural interest. I can say this, as I lived in Southampton for a few years. GM: I’ve been down there and there wasn’t a huge amount of tourism going on, but there was a lot of shipping, and shopping, but what if you want to visit the theatre? We have heritage and culture in abundance in Liverpool. Do we have the layout of the terminal right to get people to enjoy arriving here? GM: I did a cruise last year to Hawaii and I went round a few of the islands, and the Pier Head is a much better cruise liner terminal than those on the islands. EM: But there they greet you with song and dance, and they have the weather! People don’t want to be walking here in the rain. This is a British destination so it has to be spot on, it’s not a warm port. GM: Say we have 20 cruise liners coming in, it would be great if we had them every single day. In Southampton on a Saturday night, Cunard has three ships leaving. They drop off and collect 15,000 people every Saturday. We got 24,000 this year – that’s not much more than their average Saturday. More taxes might be right, but what
would we do if we were a full turnaround facility, would it have an additional spend? It would, but what about jobs and if we had three liners coming in a day wouldn’t that be marvelous? We just don’t have the facilities. Here we can have just one liner at a time. EM: And one at Langton Dock, down the road. We need to make sure we are utilising what we have. We need to conduct a survey of all the people going down to Southampton to see how many people are from the north-west. It would be interesting to see if they would prefer to travel from up here, or whether they don’t mind traveling. That needs to take place before the negotiations with Cunard – the shipping companies need to believe in it as a workable business model before we get carried away. What other benefits might there be as a result of developing our terminal? SR: Our year in the international spotlight as the European Capital of Culture in 2008 helped us greatly in trying to change the misguided perceptions of our wonderful city. If better cruise liner facilities alongside the area, to the north of the Three Graces, bring in more visitors, this can only help towards the way others see us, and indeed, how we see ourselves. GM: Somebody said in the local press that about, I think it is, 47 per cent of those that go to Southampton to board a cruise, are from Scotland and the north-west. There’s a justification in their argument about climate change and fuel cost. If people didn’t have to do that then it would also be much better for the environment. EM: The chief executive of Carnival UK, David Dingle, said he was confused why Liverpool hadn’t invested in the first place but a spokesperson for the company also said that they have no plans at present to relocate ships from Southampton. This is the problem – we would need the cruise fleets to say they will use Liverpool. It would dent Southampton’s economy, which doesn’t strengthen our case. GM: Carnival owns three cruise liner terminals in Southampton, so they’ve already invested their money there. EM: They’d need a big reason to come here so that’s why we need people guaranteed say, for a fiveyear contract, to use our terminal. What other conflicts and problems are there? GM: Fred Olsen said that they would leave Liverpool if they couldn’t use
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A floating city Talking Point
the cruise liner terminal, as Langton Dock is not the prettiest facility – overlooking the scrap heaps. The signage could also be better and I know that Peel is looking to upgrade that facility, which is why Fred Olsen has agreed to return to Langton Dock in 2010, and 2011. EM: But they also said that all of the places on the ship flew off the shelf – it came down to sales and as it happened, people want to sail from here. It’s the market that dictates it. I haven’t been on a cruise myself but they are having a renaissance, and that’s interesting as well. It can also be seen as more environmentally friendly, and it’s all about entertainment, and luxury. The notion of multiple stop-off points is also appealing – with a sense of adventure. GM: I really got the taste for cruises, as a result of the multiple drop-offs without packing and unpacking – and it’s not expensive either, for all the places you can visit on one trip. EM: These are all reasons why we need to have the discussions. There’s so much happening up here as well, with Wirral Waters and Liverpool Waters. We are a port city and we should be looking to expand our natural topography, and what is so beautiful about this area, and our waterfront as, for whatever reason, people are attracted to the water. We are looking to leaders across the city to look at long term plans not just for five years, but 40 years. Let’s lobby the cruise liners, and get our business plans right. There’s a lot for everybody to do in all the different tourism and regeneration bodies. We need the planning department to be more dynamic and faster. I’ve tried to get planning in this city and it is notorious for being slow. It needs to
just pick up the baton and run before we lose opportunities to other cities and areas. GM: Peel told me on Tuesday, that our planning has been exceptional in the whole process for Liverpool Waters. EM: They might have turned the corner now, but I know developments that have taken five years. GM: That’s to do with the worry over UNESCO and the World Heritage Status. EM: Those people shouldn’t be afraid to make decisions, and by procrastinating they’re not making the decision go away. They’re just making the whole thing more difficult and more expensive for everyone. For private developers who want to invest in the city, they only have a finite amount of time and money before they have to look elsewhere. We need people in the job who are able and bold enough to make decisions. What we have here is a jewel and we need to utilise it to its best. GM: What’s interesting is, everyone was happy with the cruise liner terminal until people started questioning Langton Dock and saying, couldn’t we use the Pier Head instead. That’s how this whole debate came about – as this terminal was never intended to be more than a port of call. It’s the state of Langton Dock which brought this whole thing about, and got people asking what we could do about the Pier Head terminal - pay the money back, do it in partnership. We have a lot of ships that aren’t cruise liners, like the HMS Illustrious, and that’s fantastic. EM: Where we need to be careful though, is to not leave everything to the last minute. We can see the
potential, we can see we have a number of options and things we need to look into to get ahead of the game, and see when the window of opportunity is to sign up shipping companies who might be interested in coming here. What is currently happening in terms of researching where we go from here? SR: I want the first impression of those that visit our city to be our wonderful and iconic waterfront and cityscape, and not the tangled scrap metal of the Langton Dock area and therefore it is important that any turnaround facility exploits our river-front and iconic buildings. GM: Angie Redhead is the head of the cruise liner terminal for LCC and she reports to Keith Blundell, officer for the cruise liner terminal and tourism. Keith and Angie have been investigating with the DfT in terms of seeking evidence what Liverpool could do, but I actually don’t think anyone has had a conversation with Holland America, Cunard, or Fred Olsen and Thompsons about what they would like us to have. I put that question to Peter Shanks, the president and managing director of Cunard this week on the QM2 and he said to write to him – so it is starting. We have a new director of tourism, and she’s very commercially mined and she’ll be having those conversations starting now. Esther’s right, we can’t have a knee-jerk reaction to fight to create a facility if nobody wants to come and use it. EM: Timing is also crucial as we don’t want to incur penalties or more costs if we’re not going to be earning back the money until the ships are already here. We need to look at how the deals will cross over.
Mal’s Brasserie on the Waterfront Our panel enjoyed homegrown roast pumpkin soup, a divine pan-fried halibut, and seasonal vegetables with home-made fries in Mal’s Brasserie. Take advantage of the ‘2000 and Wine’ menu which offers two courses, half a bottle of wine and coffee for £14.50 per person, and book now for Christmas. Available throughout November and December, the celebration menu offers three course for £25 per person. Telephone 0151 229 5000.
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TO LET FOR SALE HIGH QUALITY REFURBISHED OFFICES > Situated within an exciting and vibrant City Centre location, in close proximity to Church Street, and the new Liverpool One Shopping Centre.
> > > > > >
Impressive new entrance foyer from Bold Street. 8 person passenger lift. Full access raised floors. Excellent natural daylight. 24 hour 7 day access. Adjacent to the main entrance from Bold Street to Central Village.
DC David Currie & Co Real Estate and Asset Consultants
Industrial Premises For Sale
Retail Properties
On the instructions of administrators
For Sale On the instructions of LPA Receivers
Lees Road, Knowsley Industrial Estate. Approx 18,468 Sq ft GIA. A warehouse property built of brick frame construction provides ample yard area on the outer ring road within this dedicated industrial estate. Longleasehold. Offers Invited. Guide Price on application.
72-78 London Road, Liverpool, L3 Large Shop Property with 2 storeys above within popular retail location. Ground Floor Retail Area - 3,351 sq ft NIA. Total size 8,538 sq ft NIA. Longleasehold. Guide Price £280,000.
Private Treaty Marl Road, Knowsley Industrial Estate. Approx 24,78 sq ft GIA. Steel frame warehouse premises built of brick frame construction under a dual pitched asbestos roof. Longleasehold. Offers Invited. Guide Price on application.
On the instructions of liquidators Challenge Way, Martland Park, Wigan. Approx 75, 588 sq ft GIA with adjacent development site of 5 acres. Modern Warehouse property built in 2001. Asking Price £2.5 million for existing building and land. Warehouse and land could be sold separately - price on application.
Private Treaty Sales Unit 10 West Side Industrial Estate, Jackson Street, St Helens. Approx 4,831 sq ft GIA. Warehouse/office premises built of part brick/part blockwork construction under profile sheet cladded roof. Extensive yard. Asking Price £299,000. 17 -21 Cotton Street, Liverpool, L3 7DY. Approx 20,173 sq ft GIA. Traditional Brick Frame Warehouse close to Docklands. Freehold. Guide Price £375,000.
To Let
Suites from 2,260 to 14,050 sq. ft.
36 Gildart St, Liverpool, L3 Approx 10,826 Sq ft GIA. Warehouse and trade counter premises close to the city centre. Flexible Terms available. Quoting rental equivalent to £3 per sq ft.
Short term let opportunity (6-9 months) Wilson Road, Huyton Industrial Estate Warehouse premises of 20,000 sq ft with associated land on a total site area of approx 5 acres. Ideal for internal/external storage on flexible terms at a competitive rent. Rental upon application.
Commercial/Business/ Re-development Opportunity Almonds Green Petrol Service Station, West Derby, Liverpool Trading Petrol Service Station since 1954. Kiosk and MOT workshop on a site of 0.26 acres. Freehold and Goodwill. Accounts Available on request. Asking Price £500,000.
2ND & 3RD FLOOR 9-19 BOLD STREET LIVERPOOL CITY CENTRE
To Let/May Sell 35-41 Stafford Street, Liverpool, L3 Ground Floor retail shop unit with 2 storeys above. Ground Floor Retail Area - Approx 2,017 sq ft. Total size 7,935 sq ft NIA. Flexible Terms available. Quoting Rental £30,000 pa for whole. May Sell. £POA.
On the instructions of Administrators 209 Kensington, Liverpool, L7 Ground floor lock up shop unit with flat above. Refurbishment opportunity. Offers invited with a guide price of £65,000.
Leisure/licensed premises Opportunity Private Treaty First National Public House, Fenwick Street, Liverpool Approx 5,285 sq ft GIA over ground, basement and mezz floors. 999 year lease from 2001 and goodwill of business. Offers in the region of £500,000.
Investments On the instructions of administrators 22 Oriel Road, Bootle:- Day Care Centre/Offices Two storey property approx 3,655 sq ft NIA. A licence to Occupy granted to tenant whilst Lease is drafted for a 9 year term at an initial rent of £29,240 p.a to a registered charity. Further details on application. 85 - 93 Stonebridge Lane, Croxteth:Day Care Centre/Offices Two Storey property approx 4,056 sq ft NIA. A licence to occupy has been granted at an annual rent of £20,896 p.a to a registered charity. Further Details on application.
Private Treaty 33-35 Cheapside, Liverpool, L2 Three Storey city centre office building approx 1,748 sq ft NIA. Sale and leaseback to owners to occupy upper floors at £16,000 per annum. Also offered with vacant possession. Offers in the region of £275,000.
All enquires contact Karl Kiernan on 0151 207 2537 or email karl@davidcurrie.co.uk
DC David Currie & Co Real Estate and Asset Consultants
0151 224 7666
25 Hatton Garden, Liverpool L3 2FE T: 0151 207 2537 Visit our website at www.davidcurrie.co.uk
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KNOW YOUR ZONE HOW TO PREPARE YOUR FAMILY IN AN EMERGENCY SITUATION
Merseyside Police in conjunction with Liverpool City Council have initiated a Priority Alert Messaging Service for city centre businesses to be kept informed by the emergency services of what to do incase of an emergency.
BUSINESS’S EMERGENCY GRAB BAG
When an emergency strikes your workplace, having some basic items can make all the difference to you and your colleagues if you have to evacuate the premises. Here are just a few suggestions of things you could put in your bag. • Copy of your Business Continuity Plan & building plans. • Useful telephone numbers (e.g. suplliers, stakeholders/partners utilities etc). • Cash, debit/credit cards. • Mobile phone and charger. • First Aid Kit • Foil Blankets • High visibility vests (indentification of fire wardens etc) • Wind up or battery powered radio and spare batteries • Torch and spare batteries • Notebook & pen • Staffing list • Megaphone or whistle • Salvage inventory • Laminated action cards
3 DISPLAY THE MAP IN A PROMINENT SPACE IN THE WORKPLACE 3 MARK UP YOUR ZONE ON THE MAP IN THE SPACE PROVIDED 3 MAKE STAFF AWARE OF WHERE THEIR ZONE IS
FURTHER INFORMATION ON JOINING THE PRIORITY ALERT SCHEME VISIT WWW.WARNANDINFORM.COM/LIVERPOOL OR BY PHONING 0800 035 0081 Additional copies of this zoning leaflet can be downloaded from the Liverpool City Council’s website under City Centre Emergencies at:-www.liverpool.gov.uk or obtained in hard copy from: Liverpool City Council, Emergency Planning Unit, Municipal Buildings, Dale Street, Liverpool, L2 2DH Telephone: 0151 225 8400 E mail: emergency.planning@liverpool.gov.uk
North West Ambulance Service
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MediaCityUK in Salford Quays has potential to revolutionise the region’s role as a media powerhouse. We look at the benefits the multi-million pound development will bring to the north-west.
CGI view across the MediaCityUK piazza to the Studio Block, Peel Media
Happy medium
The BBC Building, MediaCityUK, October 2009 40 MOVE COMMERCIAL
In 2011 the media landscape of the north will be transformed. The region is to welcome the completion of Phase 1 of MediaCityUK, a 36 acre site in Salford Quays accommodating creative and digital sectors from TV production to publishing. The development, owned by Peel Holdings, will carry the potential to expand up to 200 acres and will form part of Peel’s wider Ocean Gateway project, a highly ambitious £50bn development spanning from the Wirral to Manchester. The most significant component of MediaCityUK must surely by the
addition of the BBC, which recently took the keys for ‘Building C’, the largest and first of three BBC office buildings at Salford Quays. Building C will be home to Radio 5 Live, BBC Sport and local and regional news, with the technical fit out scheduled for completion in March next year. With what will see the biggest move out of London in the corporation’s history, around 2,500 BBC staff will be based at MediaCityUK, producing shows such as Match of the Day, Blue Peter and Songs of Praise. Steve Wild, director of real estate at MediaCityUK, commented: “MediaCityUK was selected
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Media City Focus
Panorama of MediaCityUK, Salford Quays
Steve Wild director of real estate at MediaCityUK
through a competitive process to house the BBC’s northern centre. We have handed over the first building for a technical fit out which should be completed in March, while the two other BBC buildings should be ready within the first quarter of next year. MediaCityUK will also house the BBC’s existing Manchester city centre operations.” MediaCityUK was born out of the BBC’s search for a northern centre, which began late in 2004. With the BBC having narrowed down the potential site to a shortlist of two by January 2006, the Northwest Regional Development Agency, Central Salford Urban Regeneration Company and Salford City Council worked with site owners and developers Peel to create a long-term proposal for a brand new media district at the Salford Quays site. After the BBC selected MediaCityUK as their preferred site, management contractor Bovis Lend Lease began construction on Phase 1 in the summer of 2007. MediaCityUK has gone on to include The University of Salford, which is creating a campus to
accommodate around 700 students and staff; production base The Pie Factory, which will offer three sound stages and associated facilties; and Northwest Vision and Media, the organisation responsible for leading, promoting and supporting the region’s creative and digital industries. In total, MediaCityUK will accommodate 700,000 sq ft of office space spread across five buildings and 250,000 sq ft of studio space, which will include seven high definition television studios and two audio studios, all of which will be available for hire on a flexible, utility basis from January 2011. High-speed bandwidth will be delivered throughout the site, with total Wi-Fi coverage for both public and private networks. Steve added: “The collection of HD studios will be one of the largest in Europe, so there will be no need for companies to invest when they come here. There are a range of media city initiatives across the world but MediaCityUK will have the largest broadcast centres of anywhere in the world.” Among the media facilities will be 80,000 sq ft of retail and leisure space, 378 apartments divided between two towers, a five-acre public realm, 300 cycle bays and around 2,200 multi-storey car parking spaces. A 218-bed Holiday Inn was also recently announced for the site and is due to start operating in the autumn of 2010. Andrew Gill, vice president of development with InterContinental Hotels Group, commented: “It’s an ideal location and we’re confident the hotel will be an asset to the development.” Phase 1 is likely to create employment for 5,000 people, while a study carried out in 2006 suggested MediaCityUK could
ultimately accommodate more than 15,000 jobs and 1,000 businesses once fully developed. 52 per cent of the workmen used in the construction of MediaCityUK have come from the Greater Manchester area, in-keeping with Peel’s underlying remit to employ local tradesmen. Media City’s Steve Wild is in no doubt that the development will be
of great benefit to the region as a whole. He commented: “The whole media industry and the subsequent supply chain will create a significant amount of opportunity for the whole area. The whole of the north-west has aspirations to improve greater access to the media and this will achieve that. It will prove a massive boost for the economy.”
What are the opportunities for the region? •To become a leading European HD broadcast destination •To be recognised as a major digital learning centre •To produce acclaimed radio and television programming in Manchester •To close the North/South divide
Match of the day will be broadcast from BBC Salford MOVE COMMERCIAL 41
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Your local commercial property experts Below is a small selection of our office, industrial, retail & leisure portfolio:LIVERPOOL CITY CENTRE A range of offices suitable for 2 people to 1300 people and with rents starting from just £3.20 per sq ft. NEW 12 Temple Street 2,763 sq ft Cotton Exchange, Old Hall Street from 200 sq ft upwards Corn Exchange, Fenwick Street 500 sq ft – 9,000 sq ft Rumford Court, Rumford Place 600 sq ft – 2,400 sq ft No. 1 Old Hall Street 600 sq ft – 4,600 sq ft New Zealand House, Water St from 750 sq ft Century Buildings, Nth John St from 1,100 sq ft 1 Union Court 1,100 sq ft – 4,350 sq ft 42 Castle Street 1,100 sq ft – 2,600 sq ft Rodney St/Hope St area 1,200 sq ft – 6,500 sq ft Stanley Hall, Edmund Street 1,900 sq ft – 3,200 sq ft The Foundry, RopeWalks 2,000 sq ft – 11,000 sq ft No.1 Tithebarn 2,000 sq ft – 20,000 sq ft Exchange Flags 2,200 sq ft – 120,000 sq ft Liverpool One Offices, L1 2,200 sq ft – 10,000 sq ft 2 Moorfields 2,300 sq ft – 9,000 sq ft Rumford Court, Rumford Place 2,600 sq ft – 4,600 sq ft Victoria House, James Street 3,000 sq ft – 6,000 sq ft 5 Temple Square from 4,750 sq ft MERSEYSIDE OFFICES Connect Business Village, L5 Mere Grange, St Helens Kings Business Park, Knowsley Switch House, Switch Island L30 The Investment Centre, Bootle Hattersley Court, Ormskirk Century House, St Helens Port Causeway, Bromborough Atlantic Park, Aintree
1,270 sq – 8,000 sq ft 4,000 sq ft – 8,000 sq ft 3,100 sq ft – 5,100 sq ft 3,360 sq ft – 10,500 sq ft from 1 desk to 5,700 sq ft 340 sq ft – 12,000 sq ft 1200 sq ft – 27,000 sq ft 5,500 sq ft – 17,690 sq ft up to 10,000 sq ft
MERSEYSIDE INDUSTRIAL Wellington Employment Park, L5 1,400 sq ft – 33,500 sq ft Larch Lea Industrial Estate, L6 from 2093 sq ft Brasenose Industrial Estate, L20 from 1,416 sq ft Gillmoss Industrial Estate, L11 from 2,400 sq ft Gillmoss Industrial Estate, L11 new build up to 20,000 sq ft Harrier Court, Speke new build up to 90,000 sq ft Bridge Industrial Estate, Speke Under Offer Alchemy Business Park, Knowsley 6,775 sq ft
NEW Burscough St, Ormskirk 5,200 sq ft
NEW 30 Pall Mall 1,500 sq ft – 3,700 sq ft
NEW Mercury Court 1,400 sq ft – 10,000 sq ft NORTH WEST RETAIL/LEISURE NEW Princes Dock, L3 NEW Chancery House, L1 NEW Liverpool Rd, Crosby NEW Allerton Rd, Liverpool Bank Street, Rawtenstall Booth Street, Ashton Yorkshire Street, Oldham Church Street, Eccles
1,200 sq ft - 14,000 sq ft 2,500 sq ft – 8,500 sq ft Under offer Under offer 2,003 sq ft 2,600 sq ft 2,134 sq ft 3,190 sq ft
visit our website www.keppiemassie.com For a free search of accommodation for your business contact the Keppie Massie Agency Department on:
0151 255 0755 email: liverpool@keppiemassie.com Keppie Massie Surveyors & Property Consultants, Alabama House, 6 Rumford Place, Liverpool, L3 9BY
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Expert views Ask the panel
What are your predictions for the north-west market in 2010? We asked some of commercial property's movers and shakers, known for their perspectives on the current market, to share their predictions for the year ahead. “Demand from larger requirements (10,000 sq. ft+) has remained strong however the city centre market has been lacking in enquiries from SMEs, looking for 4,000 sq ft and below. Over recent months demand has increased and we expect this to continue throughout 2010, with SMEs gaining confidence to demand quality environments, often on a flexible basis and this is something which Bruntwood is able to offer.”
“I think we are seeing lease terms bottoming out and my view is that the leasing market will continue to bounce along the bottom during the early part of 2010 before improving next summer. There is a good chance that we will see terms and market sentiment improve fairly rapidly as occupiers who have been sitting on the sidelines decide to take the plunge and move. This activity, and recognition that the market is improving, will accelerate an overall recovery in the market.” Mark Worthington director of office agency, CBRE
Colin Forshaw head of sales, Bruntwood “We are feeling optimistic about the new year. There’s no doubt that the property industry will continue to change, but I don’t think this will be as dramatic as it was in 2009. Some businesses are still struggling to find their feet as the dust settles on the credit crunch, and they will continue to find it tough, but for those who can rise to the challenge there will be significant opportunities to develop in 2010.”
"The Liverpool office market currently sits on a knife edge with a number of major occupiers deliberating over potential moves. If they do commit, the whole complexion of the current market could change. I anticipate we’re in for another difficult year in terms of activity levels, although I do envisage matters improving by Q3, with rentals stabilising and transaction levels increasing."
Ann Lodge, joint chief executive at property group Downing
Neil Kirkham, equity partner, Hitchcock Wright & Partners
“There are certainly signs that the market may have bottomed out, with the investment sector in particular beginning to show significant signs of improvement. 2010 will be better than 2009 although any improvement will be gradual and remain reliant upon the release of liquidity from the financial institutions. So come on bankers…” Andrew Owen partner, Mason Owen
“ ”
There is a good chance that we will see terms and market sentiment improve fairly rapidly.
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Key events International retailer in iconic landmark
Exclusive brand signs at 20 Chapel Street By Lucy Oliver lucy@movepublishing.co.uk The RIBA-award winning 20 Chapel Street building has signed up several new occupiers in recent months, to its premises in the heart of Liverpool’s commercial district. International, upmarket furniture and furnishings store, BoConcept, has signed for space in the ground
1 1. Anthony Cahill and Paul Rothwell from Alexander Myerson & Co, with BoConcept store owner Elaine Cunningham
floor of the iconic premises, and opened to invited guests from the business community in September with an evening champagne reception. The business will be run by Liverpool-based interior designer, Elaine Cunningham.
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3
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2. The new BoConcept store 3. Gregg Tracz, Eamon McCall and Kev Reilly enjoy the opening event 4. Marvin Mills, Mercedes Liverpool, with Irvine Larrier, Bang&Olufsen
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5. Wayne Malcolm, Paul Corcoran and Emma Griffiths from Agent Marketing 6. Tony Reed, Keppie Massie, with Hollie Gaskill, Bryan Gaskill & Co and Ian Taylor, Keppie Massie
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7. Lasse Lorenzen and Philip Bechmann from BoConcept 8. Toby Whittaker, Mann Island Properties, with Countess Bea Sokolova and Andrew Wright, Calm Response 9. William Coleman, Rumford Investments, with Esther McVey, Winning Women 44 MOVE COMMERCIAL
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Ian Sherry development director, UK Land & Property
In the spotlight UK Land & Property has made an impact on the property scene in the north-west over the past few years, most recently acquiring the prestigious Exchange Flags site in Liverpool city centre. Development director, Ian Sherry, spoke to us about managing the expanding portfolio and seeking development opportunities.
What led you into your current role? Without sounding like a cliché, I have always had an interest in property. After leaving college I started working as a development surveyor in Ireland, and then for a UK-based company with projects in Ireland. I came over here, and then six or seven years ago we set up UK Land & Property and I assumed the role of development director. What are you working on at the moment? I’m focusing on managing our existing portfolio and increasing our income, as well as looking at development opportunities that exist. I’m also working on reducing my golf handicap and plan to climb Kilimanjaro to raise money for Claire House next year. What are your plans for the north-west? Exchange Flags is our largest asset in the city, but we also have a number of business parks in this region and in North Wales. We’re moving into developing residential schemes in the private rental sector, and that’s keeping us busy.
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What does your daily routine involve? It’s very varied depending on the particular day, and no two are ever the same. I could be meeting tenants, conducting site visits, having legal or financial meetings, and networking. We have a broad remit in the business, overseeing projects from their inception to their completion, appraising schemes, and investing and developing, so there are any number of projects to keep a handle on at one time. What do you like most about your job? I think it has to be the people. There’s no other industry where you can meet everyone from one man bands right up to the bard of directors on a listed company and associate with so many different characters, and that’s fascinating. What have been the highlights of your career? For the business, it would have to be the acquisition of Exchange Flags, but for myself I’d have to say that we’ve had a good few positives in recent years, but the best is yet to come.
What are your ambitions? Simply to continue developing the business and our reputation, and hope that that brings us health, wealth and happiness. What are your challenges for the coming year? To keep our heads down and work hard on what we have and capitalise on any opportunities that come our way. It could be a difficult year fro the industry but at the end I think we’ll see a more streamlined and more efficient development community. How would your colleagues describe you? I’d have to say awesome, modest and loud – all at once. How do you like to unwind? I like to play golf and football, train to climb Kilimanjaro, and generally eating, drinking, laughing and sleeping.
SHERRY FILE BORN 27/05/1976 EDUCATION: St Olafs Dublin and Oatlands College Dublin FIRST JOB Selling paint in a hardware store Dublin
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Park Court
k
NERS W O TS N NEW E M ROV P M I LS NEW A E D NEW
To Let Industrial / Trade units from 2,600 - 7,500 sq ft Sherdley Business Park – St Helens
Lea Green
To Let Industrial units from 2,000 - 32,000 sq ft St Helens
To Let / May Sell Industrial units from 3,800 - 18,500 sq ft
Lumina Wirral International Business Park, Bromborough
For more information on these sites please contact us on 01925 273000 or visit our website www.langtreegroupplc.co.uk