Move Commercial 60

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LIVERPOOL CITY REGION CHESHIRE MANCHESTER

FEBRUARY - MARCH 2018

FREE

MOVE COMMERCIAL The north-west’s guide to property and business

Issue 60

The road ahead

The future of the region’s automotive industry

PROF ILE

L I VERP O O L

RCP North

10 years on

The royal college’s ‘iconic’ plans

Impact of the Capital of Culture status

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Issue sixty Move Commercial

Welcome to Move Commercial

Contents News

2018 is well and truly in full swing and with it comes a milestone anniversary for Liverpool, new challenges for North West businesses and progress on a host of landmark projects for the region.

A packed programme of celebrations is lined up for the months ahead to mark 10 years since Liverpool’s momentous European Capital of Culture year so, with this in mind, Move Commercial explores the impact the status has had on the city and perceptions of it.

We also zoom in on the North West’s prominent automotive industry to find out what the future holds against a backdrop of ongoing Brexit uncertainty, and we explore the business potential in moving from

buy-to-let into commercial property investment.

The Royal College of Physicians’ deputy chief executive, Clive Constable also took time out to share the organisation’s ambitions for Liverpool and the North as it continues to establish its second home; and we caught up with Piers Wood, Alstom’s managing director of regional and intercity, to find out how the firm’s Widnes plant is making a difference.

Plus our latest Business Lifestyle section offers plenty of hints and tips on savvy business spending.

04 Entries open for this year’s NWPAs

Natasha Young, editor natasha@movepublishing.co.uk

09 YinYan expands with new ventures and location plans

05 North West delegations gear up for MIPIM 06 Preferred Shakespeare North construction partner named 07 Regus increases Liverpool footprint 08 Recruitment firm to increase workforce in 2018

10 New flood defence aims to protect businesses

Features 12 Bitesize Thinking Food for thought 16 Appointments Who’s moving where?

18 A Lasting Legacy How has the 2008 European Capital of Culture status changed Liverpool?

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22 Driving Force What does the future hold for the North West’s automotive sector?

25 Key Event Regus officially opens its new Mann Island workspace 26 Business Potential Leaping from buy-to-let into commercial property investment

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30 Interview Alstom’s Piers Wood tells Move Commercial how the firm’s Widnes plant could be integral to future rail projects 34 Interview

Advertising Director Fiona Barnet. Tel: 0151 709 3871 Advertising Team Catherine McCarthy, Natalie Holden, Kimberley Wheeler, Lucinda Murrell.

Editor Natasha Young. Tel: 0151 709 3871 Editorial Team Lawrence Saunders, Matthew Smith, Christine Toner, Liam Deveney.

Photography Liam Deveney – Regus event / Alstom interview / RCP North interview / Ziferblat review

Design Mark Iddon.

Cover Image © Land Rover MENA. Credits Certain graphic elements by Freepik.com Published by Move Publishing Ltd Directors David O’Brien, Kim O’Brien, Fiona Barnet.

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.

The Royal College of Physicians’ deputy chief executive, Clive Constable discusses the organisation’s northern ambitions 36 Business Lifestyle Tips, reviews and ideas for savvy business spending 39 Ask the Panel What will be the biggest challenges facing businesses in 2018?

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News Latest

Awards will be presented during a lavish event

Entries now open for 2018’s NWPAs Property firms and professionals across the North West can now enter categories for this year’s prestigious NWPAs. A total of 13 accolades are up for grabs at the 2018 event, which will celebrate another 12 months of success across the region’s commercial and residential property sectors.

Brand new Community Award and Innovation Award titles have been introduced alongside a host of other returning prizes including Regeneration Award, Best Commercial Scheme and Best Commercial Let. Both new categories are open to entrants right across the region’s property sectors, with the Community Award recognising businesses which are giving something back to the areas they work within and the Innovation Award acknowledging those which are working to remain relevant to their client base and keep up with fast-paced changes in the industry.

All awards will once again be presented during a glittering annual ceremony in Lutyens Crypt at Liverpool Metropolitan Cathedral, which will this year be held on 11 October.

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The launch of the 2018 entry process comes as a raft of businesses have signed up to sponsor the event, including several firms who are backing the property industry celebration for the first time.

Bogans Carpets Superstores and 360Vu are new NWPAs supporters after putting their names to awards categories.

Nik Burrows, director at Liverpool-based Bogans Carpets Superstores which is backing the Best Student Landlord title, says: “We’re delighted to be sponsoring a category at this year’s NWPAs. “As well as celebrating a year of success in the property industry, we hope it will provide a great platform to help us achieve our own 2018 goal of expanding our long-running business, strengthening our brand further and boosting our contacts in the sector.”

360Vu works with property firms to produce virtual tours. The service enables to clients, partners and customers to go ahead with viewings without attending properties in person.

Meanwhile BMD Law, Capricorn Kitchens, Redrow

Homes and Redwing Living are among other sponsors to have signed up early ahead of the lavish awards evening, and Furnish That Room is sponsoring the drinks reception on the night for another year.

Kim O’Brien, director at NWPAs organiser Move Publishing, which is also behind the North West print and online publication Move Commercial, says: “It’s fantastic to welcome the new year with some new businesses coming on board for this year’s NWPAs. “With some brand new categories also added for 2018, the event is already shaping up to be bigger and better than ever before.

“It’s never too early to get your entries in or sign up to sponsor the awards and be a part of the celebration, when we’ll look back on what we hope will be another hugely successful 12 months for property across the North West.”

For more information on sponsorship opportunities at the NWPAs call 0151 709 3871. For a full list of 2018 awards categories and how to enter, log on to www.nwpas.com.

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Latest News

North West delegations look to build on MIPIM success in 2018 North West delegations aim to promote and strengthen the regions’ success in business, property and regeneration during this year’s MIPIM. The Liverpool City Region, Greater Manchester and Cheshire will each bring public and private sector leaders together to help showcase the areas’ potential during the international exhibition.

Ahead of the 13-16 March event in Cannes, the Cheshire and Warrington delegation has announced it will focus on a range of opportunities including the Cheshire Science Corridor Enterprise Zone – a 100-hectare site primed for investment with the potential to attract up to 20,000 jobs and 500 businesses; the Chester and Mersey Dee economic area including the revival of Chester city centre and the Chester Northgate project; the impact on Crewe through investment in the major HS2 infrastructure project; and Warrington ‘New City’.

The team is being led by Cheshire and Warrington Local Enterprise Partnership (LEP) in partnership with

Cheshire West and Chester Council, Cheshire East Council and Warrington Borough Council with support from Marketing Cheshire.

Liverpool is heading to this year’s event with a record number of private sector delegates, led by Deloitte’s Sean Beach, as well as leaders including city region Metro Mayor Steve Rotheram.

According to Knowledge Quarter Liverpool (KQ Liverpool) CEO Colin Sinclair, a founding member of the Liverpool MIPIM Steering Group, the team will be travelling to France with “growing optimism”.

He says: “With the Paddington Village and KQ Gateway development sites in KQ Liverpool, the new cruise and ferry terminals at Liverpool Waters, the regeneration of Wirral Waters, Everton’s new stadium and Ten Streets, 2018 is set to be our most exciting year yet.”

Meanwhile Manchester at MIPIM is looking to build on the success of the 2017 event, which saw a record 113 delegates all hosted in a new Manchester Pavilion and was hailed the

Delegations from across the region will return to the Cannes event

city’s most successful year since it began exhibiting there in 2000.

The 456 sq m Manchester Pavilion will return in 2018 with a schedule of presentations and panel discussions lined up for its event space; a partner exhibition space to display Manchester’s talent pool and delegation; and the Manchester Café, which will provide a meeting space

North West contingency plans implemented following Carillion’s collapse The new Royal Liverpool University Hospital scheme

Photo: © Royal Liverpool Hospital

during the event.

Sheona Southern, managing director of Marketing Manchester, says: “For MIPIM 2018 we want to build on the relationships we’ve established with international city leaders, continue to catch the attention of strategic investors, and make Manchester the centre of the conversation over the week.”

Contingency plans have been enacted at North West developments affected by the collapse of Carillion.

The construction giant, which went into liquidation on 15 January, is involved with a number of key projects in the region including the new Royal Liverpool University Hospital and Airport City Manchester.

The Royal Liverpool Trust confirmed that “a range of contingency plans” are being implemented to make sure work on the Royal is completed, but admitted Carillion’s failure will increase the wait for the already delayed scheme.

The new £355 million hospital was originally scheduled for handover by March 2017. According to the trust, it was informed by Carillion in December 2017 that the company would not be able to meet a revised completion date of February 2018.

Meanwhile work is continuing on the £800m Airport City Manchester project - a joint venture between Carillion, Beijing Construction Engineering Group (BCEGI) and the Greater Manchester Pension Fund.

Manchester Airports Group has confirmed that construction is being undertaken by BCEGI and is therefore not affected by the issues at Carillion.

Also in Manchester, Carillion is the building contractor on the 173,000 sq ft No8 First Street office development - a joint venture between Patrizia and the Greater Manchester Property Venture Fund (GMPVF).

It’s understood GMPVF is still expecting the project to complete by spring 2018 after contingency plans were implemented following Carillion’s downfall.

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News Development

Pre-construction work on the playhouse is being lined up for April

Shakespeare North Playhouse construction partner named The preferred construction partner for Knowsley’s multi-million pound Shakespeare North Playhouse has been named.

Knowsley Council cabinet members have agreed to appoint Kier Construction for the Prescot town centre scheme, with preconstruction work scheduled to start in April 2018.

An April 2020 completion date has been earmarked for the theatre, education and exhibition centre development to coincide with William Shakespeare’s birthday. The venue would then open to guests and students later that year.

As part of the contract, Kier Construction will work with Knowsley-based supply chain companies to help strengthen the local economy while the scheme is underway.

Meanwhile 11 new apprentice opportunities and seven new jobs will be offered through

Knowsley Works, alongside work placements and training, education and community activities for local schools and residents.

The progress comes after an updated design was approved in November 2017 for the building, which will incorporate a 350-seat Shakespearean theatre as well as education facilities, performance studio, an exhibition and education centre, office accommodation, a coffee shop and a bar.

Once complete the Shakespeare North Playhouse is expected to create 19.5 new direct jobs and 203 off-site permanent posts, as well as bringing £5.3 million GVA to the Liverpool City Region and attracting approximately 111,000 visitors per year.

John O’Callaghan, managing director of Kier Construction Northern, says: “Sitting in the heart of the town, Shakespeare North Playhouse will be

a real asset to the local community when complete and we’re looking forward to working with the local supply chain to deliver this project and develop the skills of local people with the creation of 11 new apprenticeships.”

A total of £11m has been secured for the scheme so far including £6m from Knowsley Council and £5m from the government, which has been endorsed by Arts Council England.

A full business case has been put forward to the Liverpool City Region Combined Authority’s Single Investment Fund in a bid to secure a further £6.5m, and applications for additional grant funding totaling £1m are also underway.

Cabinet members have also agreed for the council to underwrite the funding gap over the construction period to enable the works to start whilst philanthropic, foundation and public fundraising continues.

Apprentices get chance to work on major Manchester construction projects

The Grade I-listed Manchester Town Hall opened in 1877

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Apprentices are being offered the chance to contribute to some of Greater Manchester’s most high-profile construction projects.

Total People, in partnership with Manchester City Council and Manchester Life Development Company, is working with a range of employers on the MFutures programme.

Apprentices will gain a construction and building services management Level 4 NVQ and a HNC qualification, whilst picking up practical industry experience.

The MFutures scheme, led by the city council, will include the Our Town Hall project and will be supported by key developers and specialist trade contractors.

Our Town Hall will safeguard, repair and partially restore Manchester Town Hall

which, whilst structurally sound, is more than 140 years old and showing its age, with many elements reaching the end of their natural lifespans.

Linda Dean, managing director of Total People, says: “We are proud to be part of an innovative project that provides apprentices with a real alternative to university.

“This is a unique opportunity to work and develop skills while experiencing a number of different professional roles, and work within a wide range of areas.”

Councillor Angeliki Stogia, Manchester City Council’s executive member for the environment and skills, adds: "The MFutures apprenticeship scheme is a fantastic option for Manchester residents who are keen to pursue a career in the construction sector.”

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Sales & Lettings News

Upgraded No. 1 Old Hall Street attracts consultancy Developer Downing has welcomed a new tenant to its upgraded Flexi-Office space at No.1 Old Hall Street in Liverpool.

Independent consultancy group Techlift International has taken a unit on the fourth floor of the building, which has undergone a revamp.

Refurbishment work to the 3,107 sq ft space includes the installation of new doors with vision paneling, allowing more natural light into the suites.

The developer has also updated the ceilings, carpets, signage and lighting in the fourth floor wing, bringing the units in line with Downing’s overall vision to upgrade the building. © McCoy Wynne

Regus has opened two new workspace centres in Liverpool

‘Booming’ demand prompts Regus’ Liverpool expansion “Booming” demand for flexible workspace prompted Regus to open two new business centres in Liverpool according to the firm’s UK CEO. The global workspace provider recently launched new centres at Merchants Court in Derby Square and at the waterfront’s 1 Mann Island.

The new sites, which bring Regus’ Liverpool footprint to a total of three locations, incorporate options for businesses and professionals including co-working space, virtual office services, bookable meeting rooms and various offices.

Richard Morris, UK CEO of Regus, says: “Demand for flexible workspace in Liverpool is booming so the city was a natural choice for our expansion plans.

“The city is well connected and offers excellent value and it’s increasingly attracting investment and visitors from across the world.

“We expect our new centres to be popular with a wide range of users including local small businesses, startups and remote workers as well as national firms opening satellite offices and global businesses establishing a footprint in the area.”

John Clegg, Downing’s head of property management, says: “This latest upgrade to our FlexiOffice suites at No.1 Old Hall Street reflects the strong appetite we are seeing for the high quality, flexible workspace in the building.

“We’re delighted to have welcomed Techlift to the building and it’s fantastic that the company has chosen No.1 Old Hall Street to base its growing operations.

“The newly refurbished suites will complement our long term plans to enhance the building, creating the perfect space for tenants who are looking for flexible space to support the growth of their business.”

Downing’s John Clegg

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News Commercial

St Helens Chamber launches first business awards St Helens Chamber has launched the first awards dedicated to the success of businesses in the town.

The St Helens Chamber Business Awards will cover eight categories including Small Business of the Year, Export Business of the Year and Best Use of Technology.

Businesses and schools across St Helens can enter the awards which will also feature categories including High Growth Business of the Year, the Education and Business Partnership Award, Excellence in Customer Service, Commitment to People Development and Apprentice of the Year.

Award winners in each category will be put forward to the national British Chambers of Commerce Awards, which will be presented at a prestigious event in London on 29 November.

Tracy Mawson, deputy chief executive at St Helens Chamber, says: “We are

delighted to launch the first St Helens Business Awards that will truly recognise the strength and diversity of businesses in our borough.

“Through a broad range of business categories we will recognise the best of what St Helens has to offer.

“I would encourage all businesses big and small to enter and join us in celebrating your success.”

The St Helens Business Awards will be held at the Totally Wicked Stadium on 17 May.

Deputy chief executive at St Helens Chamber, Tracey Mawson

Recruitment firm to increase workforce in 2018 Kingsley Recruitment has plans to expand its workforce in 2018 as it builds on a previous year of growth.

The firm, which opened a new office in Manchester’s Neo building in 2017, is looking to bring an additional eight to 10 professional consultants to its bases in the North West.

The company, which also has an office in Liverpool, is targeting experts with some experience in the sectors they serve as it boosts its property and legal teams.

Andrew Kingsley, director and head of general practice surveying recruitment at Kingsley Recruitment, says: “The majority of our consultants have previously worked in the sectors such as myself as an MRICS surveyor and my wife and co-director Caroline, who used to be a building surveyor.”

Kingsley’s own recruitment drive comes as the company has enjoyed a strong start to 2018, with January being a month for clients keeping an eye on the approaching new financial year and recharging their search for employees after the quiet festive period.

Kingsley Recruitment is also gearing up for a return to MIPIM in Cannes from 13-16 March, when it will be supporting both the Liverpool and Manchester stands.

Andrew Kingsley adds: “It’s important for us to keep informed of all the property news, deals and gossip, etc from both within the North West and beyond.

“There is no place better than MIPIM to gain such knowledge and insight whilst also catching up with clients and contacts, old and new, along the way.”

Andrew Kingsley

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• Green light for multi-million pound Metquarter transformation

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Commercial News

Robin Ellis and head of wellbeing, Carter the dog alongside YinYanBand members

YinYan expands with new ventures and location plans Workplace wellbeing specialist YinYan has kicked off 2018 with an expansion into new services and plans for additional sites.

The firm, which aims to enhance wellbeing, placemaking and engagement for landlords through pop-up yoga, pilates, meditation, talks and workshops in commercial spaces has now launched a musical venture.

The ukulele sing-a-long group, going by the name YinYanBand, aims to help workforces by boosting moods, creative thinking, community engagement

and confidence while teaching participants a new skill.

Robin Ellis from YinYan says: “Some people in property think that if you buy a few sofas then that's fostering creativity and community, but if they just look good in a picture but never get used then they're missing the real trick.

“If landlords actively empower people, then they empower their tenants to succeed and hey presto, individuals and tenants can't imagine life in another building.

“Success automatically follows for the landlord with marketing, retention and more.”

YinYan has already been working with landlords in Liverpool including Capital & Centric at Tempest, Commercial Estates Group at Exchange Station, Merseyside Pension Fund at Castle Chambers and Avenue HQ. The company, which has also held pop-ups beyond the North West in areas including Birmingham and Bracknell, is currently looking to finalise plans to bring YinYan sessions to two schemes in Manchester.

MSB Solicitors acquires debt recovery firm Liverpool law firm MSB Solicitors has expanded its range of services with the acquisition of a local debt recovery firm.

Matrix Legal & Insolvency Services has 30 years’ experience of debt collection, debt prevention and credit management.

The Liverpool city centre-based debt recovery agency deals with PLCs and small firms across the UK. Colin Wynne, director at Matrix, will join MSB as a specialist in debt recovery and his operation will become part of the law firm’s commercial department, headed

by Mark Forman.

Forman says the move to incorporate Matrix into MSB was in line with the firm’s ethos of “doing things differently” and

would offer an “even better all-round service” to its corporate clients.

Wynne adds: “Debt recovery specialists such as ourselves offer a vital service to companies big and small, as well as to sole traders. Without our help many firms could find themselves in serious financial trouble.

“MSB is one of the fastest-growing law firms in the North West and has a fantastic reputation for offering its clients a range of services. The joining of our businesses only further serves to strengthen that offer.”

The deal follows the appointment of specialist employment lawyer Chris Hayes, who joined MSB in December from Morecrofts Solicitors.

Colin Wynne with Mark Forman

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News Commercial

Businesses in Warrington are set to benefit from the town’s newly completed £34 million flood defence scheme.

The scheme, which has been officially launched

by Environment Agency chief executive Sir James Bevan, promises to better protect businesses which have experienced flooding in the past.

Described as one of the largest value flood defence projects constructed in the region in recent times, the new system is designed to safeguard critical infrastructure - helping to keep the town moving.

Comprising of 5km of flood walls and 2.2km of embankment, the 7.2km scheme is said to have also improved amenity and recreational opportunities, as well as habitat conditions along the river corridor.

The Environment Agency worked closely with Warrington Borough Council on the defence, with the latter contributing £4m towards the project.

Councillor Hans Mundry, executive board member for public realm at Warrington Borough Council, says: “The work done by the Environment Agency will bring peace of mind to many Warrington people as we work together to protect homes and businesses along the River Mersey.”

Liverpool Film Office aims to keep production levels ‘buoyant’

The new flood defence protects nine residential and public areas of Warrington

Liverpool City Region enjoys £11m filming boost The Liverpool City Region’s film industry generated an £11.1 million boost to the local economy in 2017 according to new figures.

An action-packed 12 months saw 289 film and TV projects being shot across the city region, resulting in 1,359 filming days.

Productions included the BAFTA nominated ‘Film Stars Don’t Die in Liverpool’ which focused on the life of Hollywood leading lady Gloria Graeme and starred Annette Bening and Jamie Bell.

Meanwhile BBC Two’s award-winning Peaky Blinders returned for its fourth series, using Crosby Beach as one of

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10 MOVE COMMERCIAL

• Ask the panel: Prime office stock – how can the North West meet demand?

several Merseyside locations.

According to the Liverpool Film Office, there has also been an increase in production companies heading to the city to film content released through online channels.

Early indications show 2018 is going to be another strong year for the city region with the TV adaption of ‘War of The Worlds’ by Mammoth Screen for BBC confirmed to film later in the spring.

Lynn Saunders, Liverpool Film Office manager, says: “We are delighted that Liverpool remains such a pivotal player in the film industry and we are committed to putting plans in place to ensure production levels remain buoyant.”

• 2018 Outlook: What lies ahead for the North West’s commercial sectors?

Photo: Suave Air Photos

Warrington businesses to benefit from new £34m flood defence

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Bitesize thinking

Ian Stanistreet chairman, Scanlans

If only I’d known…

If only I’d known that Manchester was going to become the vibrant commercial centre it is now.

I’ve worked in the city since 1978, advising property owning clients and managing their properties. Over the past 40 years, it has been transformed almost beyond recognition.

One client had a portfolio of properties in what is now known as the Northern Quarter. In the late 1980s, most cash and carry tenants moved out to Cheetham Hill and the properties remained vacant. If a building was vacant, it

was a liability. There was no interest from potential occupiers.

How things have changed. These days, the Northern Quarter is one of the most soughtafter areas in the city, with bar and restaurant operators battling with each other for anything that becomes available and residential developers building apartments wherever they can find a plot of land or a suitable building.

With hindsight, I should have bought the lot when I had the chance.

In my crystal ball...

The last recession may have ended some years ago but it left a legacy which is still being acutely felt in the North West.

As the commercial property market ground to a halt it led to redundancies and a freeze on recruitment at all levels for roles such as surveyors and valuers.

Consequently, many went off and started their own consultancies, and training virtually stopped in established practices. The upshot has been the emergence of a skills gap which is still evident today.

There has not been a sufficient flow of new

My favourite building with...

Mark Forman commercial partner, MSB Solicitors

Lime Street Station It seems incredible now that the amazing facade of Lime Street Station was, for many years, obscured by the ugliest of concrete tower blocks and concourses. It was all the more depressing as it was facing St George’s Hall one of the finest buildings in the world.

But that all changed a decade ago when that 1970s structure was demolished to reveal the station in all its 19th Century glory.

Opened in 1836, Lime Street missed being part of the Victorian era by just one year. It was constructed in the Renaissance Revival style and, for more than a century, was one of two mainline railway stations in the city. The other, Exchange Station, saw the last train depart in 1977.

So, as it approaches its 200th anniversary, and with advances around high speed rail and connectivity between the North and South, the station acts as a glorious gateway into our fair city, and its current refurbishment drive means it will remain so for many years to come.

talent coming through and, as the market improves, this is more of a pressing issue.

It’s often difficult to find experienced surveyors and valuers, and further down the line some professional practices will really struggle when it comes to succession planning.

One of the keys to avoiding a repeat of this situation in the future is to look after your staff by offering strong personal and career development opportunities as well as employee perks, a good workplace culture and social events.

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MOVE COMMERCIAL

Bitesize thinking

UNDER CONSTRUCTION

Kate Carr property management surveyor, Downing

Curriculum VITAE Main duties: My principal role is managing and letting office, retail and leisure space across Downing’s managed commercial portfolio, both in Liverpool and across the UK. I’m also required to advise on all manner of property related issues, ranging from university nomination agreements to council tax, as may be required at any given time.

Education: I studied Geography at the University of Manchester before completing my masters degree in Commercial Property Management at Liverpool John Moores University.

First job: A part-time job at Tesco while I was in sixth form. Stacking seemingly endless shelves was not the most challenging or rewarding experience but I loved the customer-facing side of the job.

Shortest job: Whilst travelling through Australia I had several short-term jobs. The best was when I waitressed in corporate hospitality at the Aussie Rules Football in Brisbane.

I worked at the home games at the Gabba Stadium. It was a great job and I had the bonus of being able to watch the games during downtime.

What’s the secret to your success?

Being able to multi-task and resolve new property challenges. No two days are the same at Downing.

What piece of advice would you give to someone starting out in the industry?

I’d say to anyone starting out in property that they need to be flexible with their expectations.

Markets, properties and customer expectations are constantly changing, meaning the nature of your job will certainly evolve over time. It’s vital to be comfortable with change and to learn to go with the opportunities as they present themselves along the way.

What’s the best advice you’ve received?

My dad always used to tell me that anything worth having was worth working hard for. That’s the best piece of advice I’ve received and I’ve followed it throughout my career. It’s a reminder to not give up easily and work hard for what you want in life.

What makes Downing different?

Downing genuinely cares about its employees and all of the projects that we’re involved with. As a company, there’s so much attention to detail that goes into everything we do, to ensure it’s the very best that it can be. Downing is particularly effective at adapting any situation quickly and effectively in response to changes in the market, ensuring we always get the best results possible.

Tell us about Downing’s 2018 plans: We have very ambitious plans in the pipeline for our landmark office and retail building in Liverpool’s commercial district, No.1 Old Hall Street.

Across the UK we continue to seek and implement new development projects and co-investment with strategic partnerships.

Henry Royce Institute The Henry Royce Institute, being developed at the University of Manchester, is to be the UK’s national centre for research and innovation of advanced materials.

DEC

2014

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Further details of the project emerge. The scheme will be at the core of the Northern Powerhouse and supported by satellite centres at the universities of Sheffield, Leeds, Liverpool, Cambridge, Oxford and Imperial College London.

The institute will focus on 14 key areas of materials research grouped into four themes – energy, engineering, functional and soft materials. It’s hoped this framework will underpin growth and attract inward investment.

NOV

One of the country’s most senior female engineers, Professor Dame Julia King, is appointed chair of the institute.

NOV

Andrew Hosty is appointed chief executive at the institute, bringing a wealth of commercial and scientific experience.

DEC

The first picture of the Henry Royce Institute building is released. The £150m construction project is part of the engineering campus at the University of Manchester and the 16,000 sq m facility will house state-of-the-art equipment and industrial and academic space.

The project and cost manager is Arcadis and Ramboll is the civil and structural engineer.

Arup is the building services engineer and the preferred contractor is Laing O’Rourke.

JAN

Regius Professor of Materials, Philip Withers is appointed chief scientist at the institute.

He’ll focus on the development and implementation of the strategy for its nine initial core research areas.

FEB

Planning permission for the project is granted.

DEC

Construction commences on the hub building which forms part of the university’s 10-year campus masterplan.

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TOP 3 COMMERCIAL TWEETS

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@LpoolCityRegion: Liverpool City Region Combined Authority awards almost £3M funding for an Advanced Manufacturing Engineering Training Centre at Wellington Business Park. The centre will play a key role in supporting apprenticeships in high-skill manufacturing jobs across our region.

2017

@KnowsleyUK: Knowsley is home to many amazing small businesses with wonderful stories to tell. Thank you all for your contribution to our local economy.

Your efforts are very much appreciated #SmallBizSaturday @sharpproject: The Sharp Project officially opened in 2011. At the time, digital industries accounted for 45,776 jobs in Greater Manchester - today the sector has around 57,000 employees in Manchester alone. The Sharp Project is highlighted as a driver. #CulturedNorth

Chancellor George Osborne announces in his Autumn Statement that a £235m national research and innovation institute named The Henry Royce Institute for Materials Research and Innovation will be based at the University of Manchester.

2017

2017

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Looking L ooking ffor or a prof professional, essional,

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p01-16_Move Commercial 29/01/2018 16:54 Page 15

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p01-16_Move Commercial 29/01/2018 15:44 Page 16

Appointments

Senior management appointment at ACTUA

Andrew Dickman & Paul Chatterjee

Db symmetry adds development director Paul Chatterjee has joined db symmetry’s Manchester office as the new development director.

He moves to the logistics developer from Lynton Developments, where he spent seven years as a director.

Chatterjee says: “My 20 years’ experience in working with funds, developers and occupiers across the country will further add to what is already an impressive team.”

Andrew Dickman, director of db symmetry, adds: “We are part way through a strategic growth programme, involving an increasing number of major sites across the country. To support this growth, we require a highly experienced and talented set of individuals, equipped with an in-depth knowledge of the market, who can bring complex sites forward and deliver.”

Colliers promotes three Three staff have been promoted to associate James Preston director roles at Colliers International’s Northern Powerhouse offices.

Scott Shufflebottom and James Preston have progressed from senior surveyor in the national offices and national capital markets teams respectively.

Gavin Foxton has risen from senior surveyor to associate director of project and building consultancy.

Andrew McFarlane, director and head of North West for Colliers, says: “I join all my colleagues in congratulating Scott, James and Gavin on their thoroughly merited promotions, a reflection of the increasing breadth and depth of talent at Colliers available to our valued clients throughout the Northern Powerhouse region.”

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ACTUA Chartered Alex Gamil Surveyors has strengthened its North West team with the appointment of an associate building surveyor.

Alex Gamil brings more than 12 years’ experience to the senior management team, where she will oversee all aspects of team management as well as condition surveys, measured surveys, space planning, feasibility studies, design and specification.

Commenting on the role, Gamil says: “ACTUA is well known for its work in education and healthcare in particular, so I am keen to immerse myself in these sectors further.”

David Sharp, director at ACTUA, adds: “We’re thrilled to welcome Alex on-board as she’s a natural fit within the team and we’re sure her extensive experience of the industry will be an asset as we look ahead, to what we hope, will be another successful 12 months.”

New associate for Mitchell Charlesworth

Julie Webster & Jeremy Oddie

A new associate has been appointed to Mitchell Charlesworth’s corporate recovery and insolvency team.

Julie Webster has joined the Manchester office of the North West accountancy firm, bringing 19 years’ experience in the industry.

Jeremy Oddie, partner and head of the company’s corporate recovery and insolvency department, says: “Julie joining Mitchell Charlesworth is great news. With her extensive experience and skills she will add greatly to the range of services that we offer.”

Webster adds: “I believe that this role, working alongside Jeremy Oddie and his team, will give me the opportunity to fully utilise my skills and experience to assist underperforming and distressed business and their stakeholders to achieve solutions to their problems.”

p17-32_Move Commercial 29/01/2018 15:46 Page 17

ADVERTORIAL

MSBʼs Laura is the ʻgo-toʼ for the hospitality sector Opening a bar or restaurant is a big challenge - get the basics right and seek expert advice Opening a bar or restaurant is a dream for many people and the number of establishments that have opened in Liverpool in recent years is testament to that.

Sadly, not all survive the fiercely competitive environment of the hospitality trade. Success can never be guaranteed.

However, you can significantly increase your chances of building a profitable business if you properly prepare and take the correct advice.

And there few people more qualified on this subject than Laura Harrild, a property solicitor at one of the North Westʼs fastest-growing law firms, Liverpool-based MSB Solicitors.

Over the past year she has acted for bars and restaurants including Dead Crafty Beer Company on Dale Street and Porkyʼs Ski Hutte on Berry Street.

She also works with one of Liverpoolʼs most high profile restaurant entrepreneurs - Nisha Katona, founder of the Mowgli Indian street food chain. Nisha launched Mowgli in Bold Street in 2014.

Laura played a key role in the opening of Mowgliʼs second Liverpool outlet, on the corner of Water Street and Castle Street. She assisted Nisha and the team by negotiating the transaction documentation with an eye to matters which are key to the leisure sector.

She has continued to work with Mowgli as the business rolls out its brand across the UK. Nisha said of Lauraʼs work: “I would highly recommend her to any client. She really does give one a feeling that your legal issues are her paramount concern, no matter how heavy her case load. This inspires great confidence.”

Laura says she enjoys working with bars and restaurants because the work can be exciting and the results are tangible.

She said: "The work can be highly pressured and deadlines are often very tight - but it can also be extremely rewarding.”

Here Laura offers her top tips for would-be hospitality entrepreneurs: Drinking and dancing It may seem obvious but you will need a licence to sell alcohol and you will also need one for music or live entertainment and, of course, you will need the correct planning permission.

If the premises you are buying or leasing doesnʼt already have these things then it makes sense to make the deal with the seller/landlord conditional on you obtaining them.

Good neighbours Big issues for restaurants are ventilation, outside storage and refuse. In city centres in particular the space between adjoining properties can be tight. In terms of ventilation your property may not have an existing route that can be used without obtaining consent from neighbouring landowners in the form of a deed of easement.

It is also important to make sure you have the right to store your bins outside so you donʼt lose covers by having to store them indoors.

Covenant complications Beware of restrictive covenants on the sellerʼs/landlordʼs title.

Sometimes a seller will put what is known as a restrictive covenant on the title of the property, which means a covenant restricting the future use of the property for certain things, and a common one is restrictions against the sale of alcohol.

Restrictive covenants donʼt just bind the two parties that entered into them, they bind the property, and anyone else who comes to own it. Remedies are often available if your premises is affected so it is important you have a solicitor review the title you are going to purchase/rent.

Right structure Consider appropriate corporate structures for your business.

You should always take advice from your accountant as everyoneʼs position will be different, but there are ways to structure your holdings to protect yourself and your business.

If you would like to know more about anything mentioned in this article, contact Laura directly by email on lauraharrild@msbsolicitors.co.uk or call our commercial property team on 0151 281 9040 MOVE COMMERCIAL 17

p17-32_Move Commercial 29/01/2018 15:46 Page 18

Lawrence Saunders lawrence@movepublishing.co.uk

Visitors to Liverpool are being promised “an incredible time” in 2018 as the city marks a decade since its landmark year as European Capital of Culture (ECoC) with a 12-month celebration of the city’s creative scene. Move Commercial salutes the milestone with a look back at what positive changes the title has brought Liverpool in the last decade and ponders whether it really did alter outside perceptions of the city for the better.

A Lasting Legacy Almost 10 million visitors and a £754 million boost to the city’s economy.

The headline figures from Liverpool’s ECoC year are undeniably impressive.

Whilst the second (and now last) UK city to hold the esteemed title never did get its ‘Fourth Grace’ (Will Alsop's ‘Cloud’, central to the city’s bid, was scrapped over funding and planning issues), the tangible benefits of 12 months under the world’s spotlight are hard to ignore.

Alongside an increase in tourists and the financial fillip that went hand in hand, Liverpool’s cultural crown was also fundamental to the city’s physical regeneration, helping to push through momentous projects like Liverpool ONE and ACC Liverpool.

The sprawling Liverpool ONE complex not only helped Liverpool jump 10 places from 15th to fifth on the list of the UK’s biggest shopping cities, it also managed to shelter its leisure and retail sector from the sharp end of 2008’s recession and set the city’s economy on the road to a brighter future.

Meanwhile ACC Liverpool (Echo Arena Liverpool, BT Convention Centre and Exhibition Centre Liverpool), the first phase of which opened in time for the 2008 celebrations, has gone on to

have a similarly positive impact having hosted some 3,000 events and generated £1.3 billion for the local economy over the last decade.

Liverpool ONE and ACC Liverpool filled two gaping holes in the city’s visitor offer and allowed it to compete on much leveller playing field with other major northern destinations like Manchester and Leeds.

“Prior to 2008 there wasn’t a conference and entertainment venue on the scale of ACC Liverpool in the city,” says Bob Prattey, chief executive of The ACC Liverpool Group.

“A concert arena and convention centre facility was identified as most likely to make the biggest impact on employment, the local economy and Liverpool's national and international profile.

“The ECoC title provided a platform for Liverpool to showcase to the world its social, economic and cultural renaissance. It helped to redefine the city’s stereotypical image to visitors and the media.”

Developments like ACC Liverpool and Liverpool ONE were also integral to both facilitating and prolonging the tourism boom that the events of 2008 brought.

The ECoC year signaled the

beginning of a regeneration strategy centred on this flourishing visitor economy and was much more than a 12-month knees-up. “[ECoC] has played a huge part in renewing our infrastructure,” says Mayor of Liverpool Joe Anderson.

“Whether that be the cruise liner terminal, Liverpool ONE, ACC Liverpool or the many new hotels, retail and leisure facilities that opened before 2008 and have done since.

“The ‘Liverpool pound’ was revalued in 2003 when we secured the European Capital of Culture title, and was a call to action for the entire city to put on a year-long show that would make the UK proud.

“Although 2008 was an extraordinary year and widely recognised as the most successful ever ECoC, it was never just about that year – it was always about the legacy that followed.

“Culture touches every area of life and we have used it as a golden thread running through everything the city has done since.”

Mayor Anderson points to the fact that tourism now supports 51,500 jobs in the Liverpool City Region, worth £4.3bn, as ironclad justification of the strategy.

“

The ECoC title provided a platform for Liverpool to showcase to the world its social, economic and cultural renaissance.

It helped to redefine the city’s stereotypical image to visitors and the media.

“ Photo: Wikimedia Commons / Chris Howells / CC-BY-SA-3.0

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European Capital of Culture: 10 years on Focus

Photo: Wikimedia Commons / User: SillyWalkLeader / CC-BY-SA-3.0

Opposite page: Liverpool celebrated it’s European Capital of Culture title in 2008 Above: ACC Liverpool has gone on to generate £1.3bn for the local economy Right: The ECoC helped push through Liverpool ONE

Aside from the physical and economic benefits of 2008 and beyond, Liverpool’s ECoC year also gave the city a chance to address its perpetual image problem.

“For decades, Liverpool had struggled with a chronic image problem, being almost indelibly associated in the national consciousness with issues such as crime, poverty and social deprivation”, says Dr Beatriz Garcia, director of the Institute of Cultural Capital (ICC) - a joint initiative between Liverpool John Moores University and the University of Liverpool.

According to Dr Garcia, who headed up a research programme into the impact of Liverpool’s ECoC year and is currently working on a follow-up study into its long-term legacy, media representations and public perceptions of the city changed “discernibly for the better”, even in the lead up to the event year.

“National surveys commissioned between 2005 and 2008 showed how positive impressions of Liverpool among the general public increased whilst, at the same time, negative impressions decreased,” she adds.

“The traditional dominance of negative stories on crime and poverty,

on the one hand, and positive stories on The Beatles, football and pop culture, on the other, gave way to a more nuanced portrait of the city in which its contemporary cultural offer and wider image renaissance were given greater prominence.”

Dr Garcia admits that whilst the ECoC year wasn't the only factor in this shift, it clearly played a very important role - not merely due to the direct effects of the title but also through indirect developments such as the hosting of the MTV Europe Music Awards in 2008 and the Turner Prize in 2007, which she contends would not have happened otherwise.

Not only did 2008 help to boost Liverpool’s reputation as somewhere that could be trusted to deliver a truly knockout programme of major events, but according to Mayor Anderson it gave the city the “confidence to push on” and “show the world it’s a serious place to come and do business”.

For Mayor Anderson, 2018 represents a chance for Liverpool to recognise that growth in confidence and to once again “roll out the red carpet” for people visiting the city for the first time to discover what he believes to be the “most exciting destination in the UK”.

Photo: © Mr M Evison / CC-BY-SA-2.0

“

Although 2008 was an extraordinary year and widely recognised as the most successful ever ECoC, it was never just about that year - it was always about the legacy that followed.

“

MOVE COMMERCIAL 19

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Subscribe to our daily newsletter Visit www.movecommercial.com to sign up.

Get the north-west’s latest business and property news wherever you are. www.movecommercial.com 20 MOVE COMMERCIAL

@MoveCommercial

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Christine Toner

It’s one of the most important industries in the North West and a huge source of employment Move Commercial takes a look at what the future holds for the automotive sector.

Driving force The North West is the second largest region for automotive within the UK, behind the West Midlands. When one considers the motor behemoths located in the region this is not surprising. The North West is home to four major vehicle manufacturers; Jaguar Land Rover (based in Halewood, Knowsley), Vauxhall Motors (based in Ellesmere Port, Cheshire), Bentley Motors, (based in Crewe, Cheshire) and Leyland Trucks (based in Leyland, Lancashire).

But our links to the automotive world don’t end there. The region is also home to multiple niche vehicle manufacturers such as Briggs Automotive Company (BAC), manufacturer of the Mono in Liverpool; CCM Motorcycles in Bolton and M-Sport in Cumbria. Meanwhile key parts of the local supply chain for the vehicle manufacturers, such as tyre maker Pirelli in Carlisle and Plastic Omnium in Warrington, call the North West home.

“Within the North West the automotive industry is larger than the aerospace sector,” says Carol Holden OBE, chief executive of Northern Automotive Alliance (NAA). “[From a car manufacturer point of view] it employs around 22 MOVE COMMERCIAL

19,000 people, but when you add in the range of multinationals and SMEs that are not solely automotive it is estimated that the number of employees is closer to 29,000. Both the Vauxhall and Jaguar Land Rover facilities are focused on manufacturing and assembly; Bentley Motors and Leyland Trucks also have research and development facilities and, in fact, Bentley has all operations for the company based in the Crewe area.”

Understandably then, any threats to the success of the industry are a cause for concern.

Holden says the sector’s primary challenges at present include “maintaining manufacturing excellence to compete with lower cost countries” and “minimising operational costs to be competitive to sister facilities based elsewhere around the globe,” but opportunities are arising too.

“The automotive industry is changing at a faster rate than at any previous time in its history,” she says. “This offers opportunities for existing automotive supply chain companies but also for companies that currently don’t supply into automotive, from sectors such as energy

“

Within the North West the automotive industry employs around 19,000 people, but when you add in the range of multinationals and SMEs that are not solely automotive it is estimated that the number is closer to 29,000.

“

and technology.

“Businesses introducing innovative disruptive technologies, as Tesla has proven, have a real chance to break through into the mainstream.

And small technology companies have greater opportunities to work with the big original equipment manufacturers (OEMs) as car manufacturers can no longer have all the expertise needed in-house.”

Of course, one can’t talk about the challenges facing any industry right now without talking about Brexit. While negotiations are still taking place following the UK’s decision to leave the European Union, and we won’t actually make our exit until 2019, many sectors are already feeling an impact.

Holden says the key areas for Brexit in the automotive world are the same locally as they are on a national basis. The NAA says the industry is asking for: ● Single market: Ensuring that the UK automotive industry is able to operate without tariff or non-tariff barriers on its exports and imports to and from the EU

p17-32_Move Commercial 29/01/2018 15:47 Page 23

Future of the automotive sector Focus

© Land Rover MENA

● Customs: Secure a customs agreement which provides frictionless trade and recognises the integrated nature of supply chains across Europe ● Talent: A guarantee the automotive sector will have unrestricted access to talent across Europe ● Regulations: The creation of regulatory certainty through harmonisation and future influence ● Trade: Securing the UK’s position in current EU trade deals and clarifying the status of UK trade relationships.

“The impact of Brexit will depend upon the final solution, the further away it is from the items above the greater the challenge and the greater the operational cost that will be added onto each facility,” she says. “Clearly companies know that they need to plan, but they are in preparation mode at this time as there is no point getting into detailed planning until they know the status of each of the above items. That is true for all companies from the largest down to the smallest.”

“

Our UK automotive industry competes globally. We have delivered an export-led renaissance. A hard Brexit would undermine all that we have collectively achieved.

“

According to the industry’s national trade body, the Society of Motor Manufacturers and Traders (SMMT), Brexit presents a ‘real threat’.

During his speech at the society’s annual dinner, president Tony Walker said: “As an industry we are strong, resilient, and innovative.

Not fearful of the future but keen to grasp the opportunities we are creating together.

“I am very proud that today our UK automotive industry competes globally on quality, productivity, flexibility and cost. We have delivered an export-led renaissance. But we are not complacent. Competitiveness comes hard-won. It can be easily lost.

“A hard Brexit would undermine all that we have collectively achieved. It is a real threat – a hurdle we cannot ignore.”

And there are certainly signs that negative repercussions of the vote are being felt.

According to the latest SMMT figures, in November the industry saw a 28% fall in the number of cars produced for the UK market compared to the same month in 2016. The figures represent the biggest monthly fall in domestic demand for over six years.

"Brexit uncertainty, coupled with confusion over diesel taxation and air quality plans, continues to impact domestic demand for new cars and, with it, production output,” says SMMT chief executive Mike Hawes of the figures.

However Carol Holden says there are other areas in which the government could help the industry to prosper away from the EU issues something it has begun to do with the release of the Industrial Strategy white paper which was published late last year.

“While the launch of the white paper is a good start, we need to understand the ‘meat on the bones’ or even ‘the bones’; what is the vision across a timeline for the Industrial Strategy and what areas of support would be considered to be available; be it by sector or other approach?” she says. “It also needs to be ‘joined-up’ and not piecemeal.

“One element that has the support of our members is that there is no one solution that fits all, and what is needed is a flexible solution that is right for each company at the right time.”

Holden says to enable companies to make significant change and investment to cope with new technologies both from a manufacturing and product level they need access to a fund that provides them with the capability to blend research and development expense, skills and training and capital expenditure together, and is not restricted to a specific size of company.

“Access to a fund that enables these three to be blended, together with varying interventions dependent upon company size and reason for the funding, with outputs such as increased revenues and jobs at an appropriate return rate, would be the ideal,” she says. “This really needs to be on a regional (Northern Powerhouse) or national basis as restricting it to within an LEP area is too restrictive.”

MOVE COMMERCIAL 23

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p17-32_1-694873307.e$S_Move Commercial 29/01/2018 18:09 Page 25

Regus workspace launch Key event

Regus launches Mann Island workspace Workspace provider Regus officially opened its new Mann Island facility with an evening of cocktails, canapés and entertainment.

Attendees from the city’s commercial property and business sectors were given a tour of the new offices and meeting room spaces within the landmark 1 Mann Island building on Liverpool’s waterfront.

There was also a chance to network and enjoy live music during the showcase of the third floor complex.

The new workspace is one of two new Regus ventures in Liverpool, alongside Merchants Court in Derby Square, and brings the company’s total number of facilities in the city to three.

1

3

2

5

9

6

4

7

10

8

11

1. Rhiann Povall, Traycie Kennedy and Esme Mcalley-Burnside (all Regus) 2. Regus’ area director, Chris Kay welcomed all attendees 3. Guests relaxed in the communal workspace area 4. The ice cream pots were very popular! 5. Anders Borg and Kate Finley 6. There were delicious canapés for the guests 7. Rebecca Fan (Bermans) 8. Local agent Stuart Keppie was given a tour of the office space 9. Visitors were greeted by a pianist 10. There was a selfie mirror too!

11. There was no shortage of refreshments on offer!

p17-32_Move Commercial 29/01/2018 15:47 Page 26

Christine Toner

Buy-to-let has become challenging in recent years and when the going gets tough, the tough buy shops, as Christine Toner discovers.

Business potential Unless you’ve purposely avoided any news on buy-to-let in recent years (and if you’re a landlord you could be forgiven for wanting to do so) you’ll know the sector’s landscape has changed significantly. The amount of Stamp Duty a landlord pays on investment properties, the tax relief they can claim and the hoops they need to jump through to get a mortgage have all changed in recent years and for many landlords the challenge to adapt to these has been too great.

According to the latest figures from the National Landlords Association (NLA), one in five landlords are looking to sell at least one of their properties this year.

But while some property owners are looking to sell up, a number of others are looking to other options.

For many this involves setting up as a limited company and purchasing properties via this, thereby avoiding income tax and the tax relief issue and instead paying corporation tax which is set to fall to 17% by 2020.

But others are looking away from residential buy-to-let altogether and instead opting to purchase - and let 26 MOVE COMMERCIAL

out - commercial property.

"It's certainly the case that landlords are looking at their business models and considering other options as a result of the changes implemented by the government in recent years and a fair number are looking into commercial property as an alternative to residential,” says mortgage broker Ansar Afsar, owner of Manchesterbased We Know Mortgages.

"Commercial mortgages tend to be slightly more expensive than residential mortgages and deposits required are usually higher, however buy-to-let landlords will be used to meeting more stringent lending requirements. Furthermore commercial buy-to-let can have better rewards for landlords with yields generally higher and most tenants opting for longer leases."

Lisa Wilson, tax partner at Cowgill Holloway, says the tax benefits of commercial and mixed use properties are driving their appeal.

“Investors in mixed use properties are not as badly affected by the mortgage tax relief changes which hit landlords of residential properties in

April 2017,” she says.

“Previously, landlords have been able to claim tax relief for finance costs on buy-to-let mortgage payments when they’ve completed their tax return, allowing them to offset mortgage interest against rental income. This has changed from April 2017 with the effect that by 2020 landlords will be subject to much higher effective rates of tax if they are already higher rate (40% / 45%) tax payers and have buy-to-let mortgages.

“These changes do not apply in any way to wholly commercial properties and only in part to mixed use properties that have a combination of residential and commercial units, e.g. blocks of flats with ground floor commercial units.

Essentially you will still be able to claim full tax relief for loan finance costs relating to the commercial part of a mixed use property with the tax relief restrictions only applying to the residential element.”

According to real estate business Colliers International, last year saw £55 billion worth of transactions in the UK’s commercial property sector

“

Landlords are considering other options as a result of the changes implemented by the government.

A fair number are looking into commercial property as an alternative.

“

and the same is expected in 2018.

But while there are many benefits in investing in commercial premises, landlords shouldn’t make the mistake of thinking this strategy is failsafe.

In the past, commercial property has been seen as an investment for large scale institutional investors and property funds and there’s good reason for that.

According to insurer Direct Line, commercial property can require greater investment. Shops and small office buildings involve a similar outlay to a residential property, but a typical commercial investment will involve a bigger spend.

Furthermore, says the insurer, valuing a commercial property is a highly specialised business.

And commercial landlords still have a wealth of responsibilities to their tenants including fire and gas safety, ensuring all fixtures and fittings are safe and ready to use and ensuring the structure of the building must be safe and suitable for use at the beginning of the tenancy.

That being said letting a commercial property can be easier

p17-32_Move Commercial 29/01/2018 15:47 Page 27

Original graphic elements by Freepik.com

Letting commercial property Focus

ONE IN FIVE landlords are looking to sell at least one of their properties this year - National Landlords Association

than letting a residential space.

Landlords can benefit from greater security with tenants likely to rent for longer.

“There are a number of similar characteristics to residential and commercial investment,” says Neil Kirkham, director at CBRE. “Residential, in less attractive areas, will be cheaper and in turn command a greater yield to reflect the lack of potential for capital value growth.

“The same principles apply to commercial in that offices in less desirable locations and of inferior specification will attract poorer covenants signing shorter lease terms, which again will offer a much higher yield.”

Kirkham says the key difference between commercial and residential is that the strength of the covenant that occupies the accommodation and the length of lease will drive the value of that asset.

“Residential leases tend to be standard six-month assured shorthold tenancies and, whilst one occupier will be less risk than another, that will have little effect on

the capital value of the asset.”

But before landlords jump shop from residential and opt to invest in commercial property experts say familiarising oneself with the market is essential.

“Investing in commercial property can offer strong returns but some knowledge of the market is pretty essential as it is a very different beast from residential buy-to-let,” says Andrew Owen, director at Worthington Owen in Liverpool.

“Raising finance is the first challenge as high street buy-to-let lenders will not usually offer to lend for investment into shops or offices.

It would be necessary to approach one of the specialist lenders and they will usually insist the investor has some experience in the sector before they will offer help.”

“The 'buyer beware' maxim is particularly important in commercial investment. If retail or office premises are available cheaply there will usually be a good reason for that.

Does it need a lot of work or is it in an area where finding commercial tenants is difficult? Thorough due diligence is essential.”

“

Investors in mixed use properties are not as badly affected by the mortgage tax relief changes which hit landlords of residential properties.

“

MOVE COMMERCIAL 27

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28 MOVE COMMERCIAL

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Lawrence Saunders lawrence@movepublishing.co.uk

Alstom’s opening of a state-of-the-art Widnes train modernisation centre was heralded as “just the start of its exciting story” in the Cheshire town. Six months on and with the firm holding a favourite’s chance of landing contracts for two of the UK’s biggest rail development projects, Move Commercial caught up with its managing director of regional and intercity, Piers Wood.

On the right track Proudly described by Alstom as the “largest and most sophisticated centre for train modernisation ever to open in the UK”, the building of the Frenchheadquartered firm’s sprawling Widnes facility was a more than welcome boost to the North West rail industry.

Not long after going online, an 80strong workforce - which includes a high percentage of staff recruited from the Liverpool City Region - began a €28 million contract to re-paint the fleet of Class 390 ‘tilting’ Pendolino trains used by Virgin on the West Coast Main Line.

“It’s gone very well in terms of the output,” says Piers Wood, who was appointed managing director of regional and intercity for Alstom UK & Ireland in March 2017.

“We’re completing one [train] every fortnight. So far we’ve met the delivery schedule so it’s been going great.”

The 140,000 sq ft Widnes facility is the newest site to become part of Alstom’s regional intercity business and one of a number of depots up and down the west coast where maintenance work on the Pendolino model takes place.

30 MOVE COMMERCIAL

During its construction, which began in October 2016, much of the noise coming out of Alstom centred on the facility’s ‘Industry 4.0’ assets, which aim to optimise the repainting process.

Described as the “next stage in the digitalisation of the manufacturing sector”, these Industry 4.0 features at Widnes include virtual reality painting simulators to train staff and validate the finished product. "[Industry 4.0] has changed the way we turn around what has been a very traditionally done job in the past,” says Wood, who originally joined Alstom as an account manager for London Underground Ltd. “With technology coming on we can adapt our processes and techniques to use it, saving us time and also money.

“Projects like this are all about how much planning you can put in upfront. If you can actually simulate what you’re going to do using technology, and practice, it helps the overall process and makes it quicker.”

However the long-term outlook for the Widnes base is as much about training and job creation as it is about refurbishing Pendolinos.

The Alstom Academy for Rail, opened by transport secretary Chris Grayling in October 2017, is planning to train 500 apprentices over the next five years with 20 apprentices hired last autumn alone.

A further 30 apprenticeship places were offered to current Alstom staff with the overall number of trainees expected to reach 135 by 2021.

“Clearly within the rail industry there

“ “

is a big push on hiring apprentices,” says Wood.

“As and when we land these large government contracts we have to hire a large number of apprentices. For us, Widnes is a very important part of delivering on that."

The “large government contracts” which Wood refers to include a possible agreement for Alstom to deliver around 2,500 cars for Transport for London’s

As and when we land these large government contracts we have to hire a large number of apprentices.

For us, Widnes is a vert important part of delivering on that.

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Piers Wood, managing director of regional and intercity, Alstom Interview

Deep Tube Upgrade Programme (DTUP), which will replace trains across the four 'Deep Tube' lines - Piccadilly, Bakerloo, Central and Waterloo & City.

With a decision on the winning bid expected in May, Wood believes a successful outcome for Alstom would not only be a massive fillip for the firm in the UK but also a “game changer” for the North West.

He also confirms that, should Alstom come out on top, the intention would be to assemble the cars at Widnes after the initial stage of production taking place on the continent.

At the same time, Alstom is on the hunt for another similarly prestigious transport contract win as part of Europe’s largest infrastructure project - HS2.

In November the firm was among five named on a shortlist to manufacture at least 54 trains for the new high-speed line alongside Siemens, Hitachi Rail Europe, Bombardier Transportation and Patentes Talgo.

“The shortlist has come out for the bidders and we are very proud to be on that list alongside four other companies, which is a transformational

project for the UK and for the North West,” says Wood.

“We are not buttoned down for the contract yet and as the process is a long one we won’t know if we’ve been successful until December 2019.

“There’s a lot of i’s to dot and t’s to cross but Widnes is a very important part of our offer – not just the plant itself but the people we are training there as well. “[HS2] is clearly another massive programme and, as Alstom is a world leader in high speed, it’s very important to us.”

Wood is keen to explain how the creation of the Widnes plant will help the chances of Alstom landing the deal.

“When we bid for the DTUP, Widnes was just a patch of grass so we had to basically describe how we were going to build Widnes, what we were going to do,” he says.

“With HS2, the situation is going to be different because we can show photos of the plant itself and trains rolling off the production line. That will certainly help because it’s something physical which you can visit and see people at work.”

“

With HS2, we can show photos of the plant itself and trains rolling off the production line.

That will certainly help [our bid] because it’s something you can see.

“

Since his promotion last March, Wood has been involved with another possibly transformative venture in the shape of hydrogen train technology.

Charged with overseeing investigations into the introduction of Alstom’s new technologies to the UK, Wood reports positive progress has been made and confirms that in the future Widnes could be involved during the production phase of hydrogenpowered trains.

“It’s going very well in the sense that there is a lot of interest worldwide in this technology.

“We’re very fortunate that in Germany we now have a train running on hydrogen which proves the technology works.

“What we’re doing now is looking for the correct trial where we can actually do it in the UK and bring the technology over here.

“One of the ways we can use hydrogen is by modernising an existing train, and we would do that at Widnes.

“It won’t be a quick process but it’s going to be a very exciting one because hydrogen trains are the future.”

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CENTURY AND DEMPSTER BUILDINGS Brunswick Business Park LIVERPOOL L3 4BJ

TO LET WAREHOUSE / INDUSTRIAL 1,500 - 13,355 sq ft TO LET HIGH QUALITY OFFICES 650 - 8,000 sq ft

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Natasha Young natasha@movepublishing.co.uk

With its phase one base in full operation and work progressing to design a permanent landmark building in Liverpool’s Knowledge Quarter, RCP North has truly arrived. Natasha Young finds out more about the organisation’s ambitions and potential for the city.

An iconic step Any milestone anniversary acts as a catalyst to reflect on past success and look to the future but, for the Royal College of Physicians (RCP), 2018 doesn’t mark just any milestone.

This year the London-headquartered medical organisation turns five centuries old and the celebration deemed fitting for the occasion is already in full swing a ground-breaking expansion into the North.

“For several years we’ve been trying to increase our regional strength so we’ve got an office in each of our regions,” says Clive Constable, deputy chief executive of the professional membership body for physicians, who treat and diagnose illness and promote health. “But we are 500 years old this year and a project grew from the coming together of a sense of being based in London, a sense of having our members all around the country, and a sense of marking the future in some way.

“The college has, since 1518, moved around but it has always been in London and we’re staying there, however we thought it’d be worth seeing if we could

“ “

establish a base outside of the capital.”

Wheels to create the second home, branded RCP North, were truly set in motion in July 2016 when Liverpool was unveiled as the organisation’s northern city of choice.

The deal was hailed by Mayor of Liverpool Joe Anderson as a key moment for “the future prosperity of Liverpool and the Northern Powerhouse” as the development of the city’s Knowledge Quarter also gathered pace.

“We approached three cities and said ‘would you be interested in us establishing a base and, if you were, would you be able to help us do it?’” says Constable. “All three responded very positively but Liverpool made it possible in a way that wouldn’t have been so possible with the other two.”

The college, which operates as a charity, carried out phase one of its northern expansion last October when it officially opened a temporary base within the University of Liverpool’s William Henry Duncan Building.

According to Caroline Burton, head of operations at RCP North, this initial

What this development allows us to do is build in things we can’t do in London.

34 MOVE COMMERCIAL

presence in Liverpool has quickly impacted on the RCP’s activity and member engagement.

“We’re holding exams, a number of education events and conferences here and we’re working with the Quality Improvement Hub, which was launched in November and is going to be based here,” she says. “Having the space and people here is something that’s allowing us to expand member engagement and a good relationship has been established with the university.

“It’s early days but we’re putting the groundwork in for when we get the new building.”

A brand new permanent home for RCP North is in the pipeline and, due for completion in 2020, will position the royal college as the anchor tenant of Knowledge Quarter Liverpool’s £1 billion Paddington Village.

It’s a prospect that, Constable says, didn’t initially factor into the vision for a northern base after the RCP approached Liverpool in “the same way it approached other cities,” however once Liverpool’s wider Knowledge Quarter ambition became apparent it was in keeping with the RCP’s aims.

“Because the basis of the Knowledge Quarter is academic, learning and research, those are the things we do anyway and therefore that very much fits in with our reason for being and our values so we were very happy to be approached on that basis,” adds Constable.

“We’re honoured to be in this position of being a prominent name and that’s reflected in the plans for the building and where it’ll be, and our return for that to the city is to establish ourselves here and develop that over the next

several years.”

Events to commemorate 2018’s 500th anniversary are expected to go some way in helping to raise the profile of RCP North, as the college shares its celebration with Liverpool.

Plans are currently underway for a black tie ‘500 for 500’ event at the city’s landmark St George’s Hall and the public will be invited to a series of lectures at Liverpool Medical Institute focusing on aspects of the organisation’s history.

Meanwhile as plans for the permanent base have been taking shape, one particular aim of the RCP has been consistent throughout – that the building must be “iconic”.

The organisation has never outright defined what it means by the term but hopes the site will complement its also iconic, modern ‘brutalist’ Grade I-listed building in London’s Regents Park.

“What this development allows us to do is build in things we can’t do in London, and to do them in a way that is future-proof as far as possible,” says Constable.

It must also really “shout” that the RCP is an organisation focused on health.

Aside from examining how individual doctors assess, diagnose and treat patients, the college has long been involved with wider public health matters including smoking, alcohol abuse and obesity as well as environmental issues and sustainability.

“The way we can make [the RCP North building] iconic is through being as environmentally friendly as possible,” explains Constable.

“The outline prospect was always going to be that the building achieved

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Clive Constable, deputy chief executive, RCP Interview

“

We’ve got a lot of people based outside London and it’s one thing saying you want to engage with them but if you can demonstrate it then that’s really making a big statement.

“

the BREEAM standard but, subject to ongoing discussions with Liverpool City Council, we’d like to go for the WELL Building standard.

“One issue is we’re only going to take half the building as what Liverpool offered us was terrific but more than we need. We don’t want to become landlords but if we took the whole of the building we’d have to let half of it out, so we’ll take half and other users will be in the other half with the city making sure they fit sympathetically with what we do.

“If we’re saying we want our bit to meet the WELL Building standard then whoever comes in has got to achieve that as well but we think that’ll be a selling point.”

According to Constable, the RCP will continue its “very active process” to design the building this year alongside the city council, contractor Morgan Sindall and AHR Architects.

In the long term, a shared ambition of the RCP and Liverpool is that the northern base’s presence could also eventually attract more royal colleges to branch out of their London hubs and into the city.

“One thing we still hope to do is encourage others to come in with us because, certainly, that was the view of the Knowledge Quarter,” says Constable.

“They felt that if they could get us and we could get other royal colleges, that would enhance the Knowledge Quarter and we think that would be a good thing.

“We did some initial publicity and invited people to come in with us. At that stage no one did but a few responded saying ‘that’s interesting, keep us informed’ or ‘we’re interested in your exam space’.

“If another college just wanted to have a presence then it may well be that we could fit them within our space or they can take other space but we’ve not given up on it – we’ve made the first moves and it’ll be a gradual process.

“I’ll be really surprised if none of them do it because they all face the same challenges, they’ve all got this London connotation.

“There are things we do in London which we couldn’t do anywhere else but the North will give us an opportunity to do different things,” adds Constable. “It actually started as a membership engagement exercise because we’ve got a lot of people based outside London and it’s one thing saying you want to engage with them but if you can demonstrate it then that’s really making a big statement.”

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Diary Dates Best for workplace wellbeing

Best for exporters

Best for networking

8 February

23 February

20 March

Why… Workplace Wellbeing & Mental Resilience?

Greater China Business Awards Dinner 2018 and China Bites seminar

Liverpool Business Fair 2018

Workplace, Manchester

The Lowry, Manchester

Mental health, workplace wellbeing and positive employee mentality remain taboo subjects for many, but with the advent of a renewed concern for employee vitality it makes good business sense for employers to help nurture it.

This free business breakfast explores workplace wellbeing and mental resilience and looks at what it means at a broad managerial level as well as for the individual employee.

Expect to explore the business case for improving and supporting resilience, the links between mental vigour and productivity and much more.

Ideal for North West companies which made a significant contribution to developing business links with mainland China, Hong Kong, Macau, and/or Taiwan in 2017.

The Business Award, Rising Star Award and Education Links Award are among the accolades being presented.

The China Bites Seminar offers an opportunity to learn about best practices from an experienced business panel and will be followed by a networking reception and the China Awards and Chinese New Year celebratory dinner.

Register your interest for free. The deadline for award entries is 12 February.

Invoice - by Wave Photo: iStock/Yuri_Arcurs

Free app for iOS & Android devices

Smart spending with Geoff Bates of St Helens Chamber How can you ensure your business is smart when it comes to spending whilst keeping productivity and performance on a high? Geoff Bates, business support manager at St Helens Chamber, shares some top tips:

were not being chased efficiently and put systems in place that quickly turned a large proportion of the £150k debtor book into cash.

Be wary of offering discounts for prompt payment as this has an immediate impact on gross profit.

We’re often approached by businesses which have been trading for some time and are encountering ‘money problems’. This could be down to cash flow or low profitability.

The first place to look for possible indicators is the most recent financial accounts. If an SME has not produced its final year end accounts within three to six months of its year end that in itself could be a sign of financial control problems.

Profit

Take a good look at the trade debtors – is this figure increasing disproportionately with sales? Is it in line with the sector average?

Review an aged debtor analysis to identify any problems. I recently did this for a company and when the book-keeper was asked for the information she resigned on the spot, admitting she could not cope with the business growth. We established invoices 36 MOVE COMMERCIAL

Regularly attracting around 70 exhibitors and 700+ business visitors, this business fair provides an ideal way for companies and individual employees to network, establish new relationships, maintain existing contacts and gain free business information and advice.

Companies of all types and sizes as well as entrepreneurs at all stages of business development will benefit from workshops and seminars, free oneto-one business clinics and much more besides during this year’s event.

Event visitor tickets are free and tickets for exhibitors start at £250, excluding VAT.

In the know

Professional Pointers

Balance Sheet

The Dugout, Liverpool Football Club

It’s not always possible to increase prices, but make sure you are not ‘giving it away’ – check what the market can stand and review.

Businesses that have been doing well can often become complacent with costs and overheads.

Review your overheads and see what savings could be made: Are you reviewing your business insurance each year? Looking for the cheapest gas and electricity company? Spending money on advertising that isn’t showing results?

The key is to understand your business finances and where your cash and profit comes from. If you don’t you may survive by good luck rather than good planning. There are lots of organisations out there that can help, including your accountant, local Chamber of Commerce and even other business owners, but you will need to invest a little time if you want to grow.

For any freelancers or small business owners, getting paid in full and on time is vital.

With this free app, sending personalised, professional invoices designed to stimulate prompt payment from customers is a doddle.

Invoice by Wave also allows its two million plus worldwide users to keep track of who owes them what and receive helpful mobile notifications when funds are received.

Invoicing and payment information is automatically synced with Wave’s full online suite of cloud accounting, receipt scanning and invoice software, eliminating manual data entry and any unnecessary stress when it comes to tax time.

Optional credit card processing is also available for a pay-as-you-go fee, helping you get paid even faster.

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Business lifestyle

How to…

Save money in the workplace If profit maximisation is your goal then smart cost-cutting tactics and a clear strategy to maintain them can enable you to reduce excess costs while increasing efficiency and enhancing productivity.

Here are a few top saving suggestions to help you achieve just that:

Recycle, reuse and repurpose

Tried & Tested Business breakfast Ziferblat St Paul’s Square, Liverpool, L3 Review by Liam Deveney Enjoying a discreet location at No. 4 St Paul’s Square in Liverpool’s Commercial District, Ziferblat is a self-proclaimed ‘new kind of social space where everything is free except the time you spend there’.

Founded in Moscow but now in 16 locations across Europe, Ziferblat is a “treehouse for grown-ups,” a place where you’re able to work, study and relax.

In close proximity to many of the city’s leading businesses, Ziferblat is a bright, large, open-plan room complete with self-service kitchen.

The concept is simple: each person pays 8p per minute whilst there, you check in upon arrival and your bill is calculated when you leave. An hour costs £4.80 and the average visit lasts 75 minutes.

A wide range of breakfast food is included within the price, including cereal, toast, fruit, pastries and cakes. All food is sourced locally as is the caffeine which is supplied by the hugely popular 92 Degrees Coffee. For those with more particular requirements, there are facilities on site to prepare and cook your own supplies.

Your reviewer enjoyed a light, buttery croissant with jam alongside a bowl of cereal whilst my companion tucked into toast and a platter of fresh fruit. We both drank breakfast tea. Visitors are free to eat and drink as much as they choose, but we were not inclined to over indulge and that appeared to be true for others we saw.

There is no waiter service – you take care of yourself and your guests – but staff are on site, their good cheer and willingness to assist

apparently as limitless as the catering.

First and foremost, Ziferblat is a working environment and offers all of the essentials the modern freelancer demands from an office. All tables have access to power points for laptops and the blindingly fast Wi-Fi speed (100mb) ensures electronic communication is not hindered in any way.

For larger groups a choice of meeting rooms is available, all of which are equipped with state of the art equipment to facilitate a productive gathering. These spaces range in size from small but perfectly formed to a conference room with a capacity of 80 and they’re charged at £3.60 per guest per hour, subject to a (very reasonable) minimum charge.

Co-working facilities are also available at the standard rate of 8p per minute with a price cap of four hours per session. Businesses are also able to join the Time Keepers’ Club which allows time to be charged to a single account and total spend can be capped as required.

We spent just under an hour at Ziferblat and our combined bill of £9.44 was a steal for quality food and drink and, most importantly from your reviewer’s perspective, an atmosphere so conducive to productivity that a backlog of work was completed with barely a glance at the clock.

As a concept Ziferblat is novel and fun, but what it provides is a serious and cost effective alternative to traditional, stuffy meeting rooms.

Time’s money may be a well-worn cliché, but at Ziferblat you are guaranteed value for money which ensures value for your time.

Wasted resources not only squander funds but may also have a knock-on effect on a third party.

Refurbishing and repurposing factors of production, buying recycled printer cartridges, going paper-free and buying used office equipment will allow you to cut down on waste whilst maximising profit. As the saying goes ‘by going greener, costs get leaner.’

Try to minimise the amount of printing in the workplace and, where electronic documents will suffice, opt for that. These steps will reduce paper consumption, electricity and storage charges.

In a manufacturing setting, look for ways to reduce duplication or production-slowing processes to increase productivity.

Invest in new technology Every business uses some kind of software for activities like word processing and data management. However, you don’t have to host systems yourself if you decide to use cloud-based storage facilities (i.e. an external location).

Whether you’re looking for computer power, database storage, content delivery or other functionality, there are services to help you build applications and deploy them with increased flexibility, scalability and reliability.

Buying space at data centres eliminates the capital expense of purchasing hardware and software and setting up and maintaining an on-site data centre. It’s a more reliable way of storing information and delivering IT resources efficiently.

Sharing office space Co-working is increasingly popular amongst businesses which have a close connection and especially if a vast amount of space isn’t required.

This option can give your business greater scope to reduce leasing costs, solve logistics issues and lease quality office space while minimising expenditure.

Unlike a traditional office where you have to wait for your lease to expire, research a new location, redecorate, relocate your business, and take care of bills that erode cash and time, co-working gives you greater flexibility and capacity to expand effectively and efficiently.

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Expert views Ask the panel

Political instability and the ongoing effects of Brexit negotiations impacting most industries brought some tough times for the business world last year. Will 2018 be brighter? We asked our experts:

Q: What will be the biggest challenges facing businesses in 2018?

The retail sector is facing more challenges than ever as we head into 2018 and in the last 12 months alone, business owners and consumers alike have felt the power of the digital revolution.

The sector has seen many customers shifting towards an online shopping experience which is often quick and simple and with some retailers offering same day delivery, it is easy to see the appeal. However, we’ve seen first-hand the effect that this can have on traditional retailers with retail employment falling by over 60,000 last year.

Customers are becoming wise to age-old retail marketing and so it’s important for retailers to focus on customer experience and high quality goods that speak for themselves.

Change management can be a challenge in itself for any retail manager and so it’s important to identify possible risks and challenges and allow plenty of time to adapt whilst keeping up to speed with the latest industry trends.

Candice Fonseca, proprietor, Delifonseca

The challenge for businesses will be keeping up with the digital revolution.

Business is being transformed by digital technology in so many ways and we are reaching a point where the distinction between a digital and non-digital business will disappear.

Although it has faced a number of delays, the government's Making Tax Digital initiative will represent a revolution in business taxation. It means every business and sole trader in the UK will be required to file digital tax returns every quarter.

The government has said that some three million of the smallest enterprises, as well as landlords, will be able to move onto digital tax filing

The looming spectre on the horizon for everybody is Brexit but this won’t materially change anything this year the challenge will lie in how people and businesses react to the various bits of news being released.

The biggest danger is that confidence is weakened and then businesses seem to sit tight protecting what they have got rather than investing for the future.

The concern is that if the things being worried about never materialise, businesses and the UK economy have lost two years unnecessarily when they could have been growing and expanding. If talk of Brexit can be put to one side the economy is actually in pretty good shape.

The more immediate challenge for landlords and property investors is the 3% additional Stamp Duty and all the different changes both to tax rules and the rules governing how investors with four or more properties now get finance. The positive is that there is still finance to be had for property development and much of it

“at a pace that is right for them" - but there is no room for complacency. We recommend every business starts preparing right now.

Peter Taaffe, managing partner, BWM

Further investment into our knowledge sector will be vital in terms of capturing talent. The mass of young, dynamic people coming into the city to work and live will further advance Liverpool’s growing core of digital businesses and could help position Liverpool as a regional hub for digital and technology.

Of course, hosting the International Business Festival will once again shine a spotlight onto important investment opportunities here. Liverpool needs that outside investment if it is to continue to grow at any pace – the business community must pull together to ensure that we demonstrate the city’s unique qualities and the breadth of reasons to invest here.

On a micro level, I can see that business of all sizes will have to pay heed to the advancing harassment agenda and strive to ensure that their own workplaces are entirely inclusive, and that the ‘Benny Hill’ theme tune of the seventies is fully drowned out.

Emma Carey, partner, MSB Solicitors

is at record low prices.

For house builders and developers, the government’s investigation into ‘land banking’, where a company buys land and then doesn’t develop it, may prove to be a positive thing if it releases more land or means that more homes are built on it.

Jonathan Sealey, chief executive officer, Hope Capital

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TO LET DETACHED OFFICE BUILDING 1 Faraday Road, Wavertree Technology Park, Liverpool L13 1EH Approximately 3 miles east of Liverpool city centre and 1 mile from the Rocket - the intersection of the M62, Queens Drive and Edge Lane, with excellent public transport links.

• Ample car parking plus expansion land

• 11,350 sq ft (1,054 sq m) on a site of 1.5 acres (0.6 ha)

• Sought after location close to Rocket (M62 /A5058 /A5047)

VIEWINGS All arrangements to view the premises are strictly by prior arrangement with the Liverpool office of Mason Owen.

Contact MARK COULTHURST

Contact LOUIS HOLT

Tel Mob Email

Tel Mob Email

0151 242 3123 07767 685 598 mark.coulthurst@masonowen.com

0151 242 3145 07887 530 274 louis.holt@masonowen.com