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LIVERPOOL WIRRAL SEFTON KNOWSLEY

November–December 2008

FREE

MOVE COMMERCIAL Merseyside’s guide to commercial property

ON TARGET? The region’s crucial schemes aim to stay on track.

Issue 10

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DESIRABLE DEVELOPMENTS STUNNING RIVERSIDE SETTING With a range of brand new high specification office, hybrid and light industrial units available for sale or lease from 100 ft2 t0 14,000 ft2 and an unrivalled location at the heart of the Northwest communication network Widnes Waterfront is the right location for your business Sited on the Mersey Estuary, a location of outstanding natural beauty, within a landscaped business park of the highest environmental standards Widnes Waterfront is minutes from the M62 and M56 and within easy reach of Manchester International and Liverpool John Lennon Airports.

For further information about commercial property at Widnes Waterfront please call David Lyon on 01928 516125 or email david.lyon@halton.gov.uk

www.widneswaterfront.co.uk www.runcorn-widnes.com

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Issue ten Move Commercial

Contents News

10

Welcome to Move Commercial Welcome to the tenth issue of Move Commercial magazine, at the close of 2008.

This year the commercial property market has seen landmark developments completed and plans approved for regeneration and redevelopment across Liverpool and the surrounding region. Quite rightly, the city region has been boosted by the recognition given to its status as Capital of Culture, but it’s also weathered significant changes in the financial and property market.

The future of property in Liverpool was the subject of Move Commercial’s business breakfast at The Foresight Centre, with an invited panel and guests from all sectors sharing their thoughts and ideas; and the outlook was not as bleak as some may have suspected.

Our Founding Business looks at an investment management company that has weathered more than a few peaks and troughs in the economy, and continues to thrive in Liverpool city centre. We interviewed Rensburg

Sheppards’ director in charge, Jon Seal, about Henry Rensburg’s attraction to Liverpool with its trading history and successes, and the future of the firm and commerce in the city, which continues to excel in the north-west.

Our Mover and Shaker, Rod Holmes of The Mersey Partnership, talks to us about his passion for the city, and how his new role will see him use the skills which made Grosvenor’s Liverpool One project so successful for the benefit of the Liverpool city region. Rising Star, Paul Batho of St Modwen Properties, fills us in on the Great Homer Street regeneration project; the gateway into the city.

In Talking Point, the movement of transport across the boroughs took centre stage in our discussion on the proposed Mersey Gateway; a £390 million project designed to ease congestion and boost the economy, and Focus looks at how the region’s major projects are faring in the economic climate, with some interesting results.

06 Watson Building gets go ahead 07 Retail giants sign up to Liverpool One 08 Baltic Triangle’s bright future 09 Heritage buildings’ rebirth and recognition 10 Network Rail depot’s transformation 11 New Tesco planned for Toxteth 13 Makeover for Haydock offices 14 New tenants for Ormskirk offices 15 Regenerated Tea Factory fills up 17 Green business park due to complete 18 Nobles Construction bucks the trend 19 Connect Business Village

Features 24-5

Mover & Shaker Rod Holmes at The Mersey Partnership 30-31 Founding Business Rensburg Sheppards on the city’s past, present and future 34-37 Keeping Track A look at major projects in the current economic climate 38-41 Talking Point Debating The Mersey Gateway 42-5 Exchanging views Move Commercial’s business breakfast 46-7 Rising Star Paul Batho at St Modwen Properties

Key Events

15 LIVERPOOL WIRRAL SEFTON KNOWSLEY

November–December 2008

FREE

MOVE COMMERCIAL Merseyside’s guide to commercial property

Issue 10

34-37 move publishing ltd Advertising Director Fiona Barnet Tel 0151 709 3871 Advertising Sales Manager Jeff Porter Tel 0151 709 3871 Account Manager Jo Tait Tel 0151 709 3871 Art Director Adrian Lloyd Email mail@design-foundry.co.uk Contributors Julie Whyman, Helen Parker & Simon Beasor Editorial Team Lucy Oliver and Marie Martin Email post@movepublishing.co.uk Tel 0151 709 3871

Published by Move Publishing Ltd Directors David O’Brien Kim O’Brien Fiona Barnet Design & Production The Design Foundry 36 Henry Street, Liverpool L1 5BS. Tel 0151 709 1633 Printed by Acorn Web Offset Limited Distribution Liaison Manager Barbara Troughton Tel 0151 733 5492 Mobile 077148 14662

ON TARGET? The region’s crucial schemes aim to stay on track.

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.

21 23 27 29

The 5k Team Challenge Mere Grange launch in St Helens Liverpool One office launch Martins Bank hosts ‘Monuments’ 32 Move Commercial business breakfast 48 Edward Symmons moves into St Paul’s Square

Careers 51 Appointments and Agency Appointments Who’s joining whom and acting for whom 53 Q & A Barry Pearson, GB Finance, is in the spotlight 54 Whispers The commercial property grapevine MOVE COMMERCIAL

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Ground Rent & Service Charge Collection Information • Advice • Enquiries 71/72 Tradewind Square, Duke Street, Liverpool L1 5BG Tel: 0151 708 2250 Fax: 0151 708 2251 email: mail@jbleitch.co.uk Web: www.jbleitch.co.uk

0151 708 2250 Speak to a specialist without obligation

FOR SALE / TO LET MERIDIAN BUSINESS VILLAGE HUNTS CROSS, LIVERPOOL 22 Self-contained offices from 1,374 to 5,406 sqft

www.meridianbusinessvillage.co.uk

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News Move Commercial

Green light for city centre hotel proposal A PLANNING application to transform The Watson Building into a four star hotel has been given the go ahead by Liverpool city council.

The Grade II listed building, next to Liverpool's famous Lewis's building, will be extended onto the site of the former Rapid Hardware paint shop to form a 170,000 sq ft, 180 bedroom hotel.

The Watson Building and former Rapid Hardware store were acquired by Central Regeneration Limited Partnership, a joint venture comprising Merepark and Irish developer Ballymore, in late 2007.

The development will see the restoration of the largely unoccupied Watson building, making full use of the existing seven floors and extending to a further eighth and ninth. The basement will provide underground parking, accessible from Cropper Street.

An international hotel operator

has been secured for the four starplus hotel, designed by architects Woods Bagot.

Securing an further £50m investment for the city centre, the scheme follows Merepark and Capital and Counties' £105m proposal to transform the Lewis's building into a 'full and vibrant mixed use leisure destination'.

Ian Jones, director of Merepark, said: The Watson Building is a key element within the Central Village project, which will form one of the largest regeneration schemes in Liverpool.

“This announcement comes only two months after the council granted planning permission for the redevelopment of the Lewis's building.

“We are delighted these two key components of the scheme have now been backed by the planning committee and are now looking forward to work commencing on site early in the new year.”

The plans for Renshaw Street

Downing refurbishment to capitalise on retail boom

Graeme House, Derby Square

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DOWNING has announced a £1.4m refurbishment project for 33,000 sq ft of office space next to the Liverpool One complex.

Graeme House and Victoria House are uniquely placed to build on the success of Liverpool One and the ongoing public realm improvements in the area.

Office accommodation in the buildings, which front onto James Street and Derby Square, will be upgraded alongside common areas and facilities between the two.

Robin Ellis, senior agency surveyor at Downing, said: “Graeme House and Victoria House are ideally placed to meet the demand for back office space

as retailers locate to L1. The area is also very popular with staff as it has excellent transport links and is right in the retail core.

“The occupier market is holding up well and the credit crunch hasn't changed the fact that businesses still expand, leases still expire and tenants are looking to achieve best value.”

Office space available at Victoria House provides floors of 3,000 sq ft and a variety of suites from 2159 sq ft up to 29,783 sq ft are available at Graeme House.

Stuart Keppie of Keppie Massie, agents for Graeme House, said: “These refurbishments offer tremendous value

for occupiers and Downing has a first class track record of delivering impressive schemes.

“Liverpool One's arrival will have an impact for office occupiers and we're anticipating interest in the space, which includes an opportunity for a streetlevel presence at Derby Square, which is due to undergo major public realm improvements.”

Downing is one of Liverpool's largest private commercial landlords with some one million sq ft of office accommodation in the city centre, including landmark buildings The Capital, the Port of Liverpool Building and No 1 Old Hall Street.

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Move Commercial News

Liverpool One pulls in retail giants

Belle Vale beckons

Superstore to open, and redeveloped buildings prove attractive THE REGENERATED heart of Liverpool is celebrating more signings to boost the city’s retail and leisure offering, with many spaces leased in sensitively redeveloped and refurbished buildings.

The new lettings will also see a host of new retailers to the city open their doors in time for Christmas trading at Liverpool One. In a multi-coloured pavilion in Keys Court, Lollipop has taken 250 sq ft of space, and College Lane will see Onitsuka Tiger open its first store outside of London in 1,701 sq ft in the redeveloped warehouse formerly known as Mooneys Building. In total, 11 existing buildings have been retained and redeveloped across the Liverpool One site, including the Eagle Pub, which now houses the Sony centre.

In the biggest signing, Tesco will be taking 2,929 sq ft of space over two floors above the Hanover Street Q Park. In Chavasse Park, Korova has taken 17,821 sq ft to add to the leisure offering in the development.

On Paradise Street, other retail tenants include Henri Lloyd, Lacoste, and Drome. South John Street tenants include Adams Childrenswear, Thorntons and NatWest. There are also plans to

JJB transformation kicks in Clayton Square makeover A LANDMARK shopping centre in Liverpool is undergoing a £2million transformation as part of Land Securities refurbishment project.

Work has begun on Clayton Square after receiving approval from the city council in June this

Belle Vale Shopping Centre

Fashion chain hot on heels of other retailers

The old Eagle Pub, now home to Sony in Liverpool One

lease the redeveloped Compton House, and the Russell Building, the latter of which will house Ghost, Reiss and Dune. County Palatine has also been redeveloped to house high-end fashion store Jigsaw.

Neil Barber, head of retail leasing at Grosvenor, commented: “We

have 22 shops due to open between now and Christmas, which is exciting. Since the second phase opened we’ve been overwhelmed by the pedestrian flow; the footfall has recorded over half a million visitors each week since the opening, and trading is going well.”

year. The refurbishment will provide a new flagship 24,000 sq ft JJB Sports superstore over two floors, with its main entrance on Parker Street. The store in Williamson Square will move to accommodate the new St John’s Market.

Clayton Square’s transformation will also see improvements to Zavvi’s, which will operate on the ground floor, and Game will expand its premises on the first floor.

The former public house fronting Great Charlotte Street will be reconfigured to form two retail units and bring new names to the

shopping centre.

Tom Venner, retail development manager for Land Securities, commented: “This investment in Clayton Square forms part of Land Securities’ long-term development proposals in this area of the city centre. St John’s and Clayton Square occupy an important site, situated between Lime Street and Central stations.

The majority of the work is taking place out of hours and will be suspended in the run up to and during the Christmas period. The refurbishments are due for completion in September 2009.

SOUTH LIVERPOOL shopping centre, Belle Vale, has signed another fashion retailer to the mix Blue Inc follows on from the recent deal made with New Look, to take 4,118 sq ft on a 10-year lease.

The men’s fashion chain is set to open in September 2008.

Richard Barker, head of retail at DTZ in Manchester, comments: “This letting follows hot on the heels of the New Look deal and adds yet another fashion retailer to Belle Vale, strengthening the retail offer within the successful scheme. A number of additional national retailers are in advanced discussions in relation to the 15,500 sq ft extension, which is due to be completed in January 2008.”

Belle Valle shopping centre is situated six miles to the south east of Liverpool city centre.

Current occupiers include Wilkinson, Woolworths, Peacocks, Game Station and Boots. Argos opened in the scheme in October 2007 and New Look is due to open in November 2008. The centre has undergone a significant internal refurbishment providing a clean and friendly shopping environment.

Brasier Freeth LLP acted for Blue Inc. DTZ, Jones Lang LaSalle and Atis Real acted for Frogmore Real Estate Partners.

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News Move Commercial

Brighter future for Baltic Triangle THE BALTIC TRIANGLE is to benefit from significant funding after it was announced that a £47m development has been secured for the area.

Liverpool’s second Hilton Hotel will form part of the Kings Dock Mill development, along with 188 apartments and 3,600 sq ft of office space.

The 151- bedroom hotel, operating under the innovative Hampton by Hilton brand, which represents the firm’s first entry into the economy hotel market, is due to open at the end of 2009.

Lloyds TSB Corporate Markets has agreed to provide £22.5m to architect-developer LAG Prichard and Investec Private Bank has already ploughed £5m mezzanine funding into the scheme.

Jonathon Prichard, of LAG Prichard, said: “This development is another sign of Liverpool’s continued renaissance – the fact that we secured funding for this scheme and can now start on site in the current market place shows its quality and the confidence we have in the city. We’ve worked closely with the city council and Liverpool Vision to ensure the scheme is in keeping with the existing architecture in this area of Liverpool.”

The 1.5 acre Kings Dock Mill development is set for completion in January 2010.

‘Shore’ success for refurbished Wirral landmark

SMITH AND SONS has pre-let 32,000 sq ft at Shore Lines, in Woodside, previously occupied by Littlewoods, to M D Insurance (trading as Premier Guarantee).

The premises, a Victorian brick built train engine shed, is to undergo a refurbishment, carried out by Smith and Sons’ clients, Merseyside Estates Limited, converting it into Grade A office accommodation.

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Premier Guarantee is an international insurance company, based in Wirral and expanding its operation across the Peninsular.

Together with Cheshire Lines, the development will total over 100,000 sq ft of office accommodation, representing the largest single office complex in Wirral.

The investment in the area will add to the growing business and

cultural centre of the Woodside area, providing increased employment both in skilled office staff and construction jobs and assist local businesses.

Peter Bowskill, partner at Smith and Sons, said: “Smith and Sons are delighted to be involved in bringing this expanding international company to a refurbished landmark building in the centre of town. It is really good news for Wirral.”

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Move Commercial News

Water Street landmark revitalised India Buildings’ rebirth THE RE-BIRTH of one of Liverpool’s most impressive landmark buildings in the city’s commercial district has been announced.

Appointed by the buildings’ asset managers Atlas Management, Hitchcock Wright & Partners is acting as joint letting agent alongside Keppie Massie on the historic India Buildings in Water Street.

Originally built in 1831 for the Blue Funnel shipping line, the India Buildings are a major part of Liverpool’s heritage, and feature stunning American architecture with a beautiful vaulted arcade running through the centre of the building. The Grade II listed buildings have been updated and improved over the years, and were

last worked on in 1952 after suffering extensive damage in WW2. The work was undertaken by the architect Herbert Rowse, who was also responsible for Liverpool’s Philharmonic Hall. Whilst keeping the imposing and impressive façade, Rowse balanced the interior with an elegant, ornate ceiling in the main entrance hall that, to this day, provides to this day an excellent contrast between the architecture and the modern office.

A variety of high quality office suites are on offer, ranging from 500 sq ft to 35,000 sq ft on a single floor plate. Built to exacting standards, India Buildings offer a wide range of features including 24 hour access and onsite manned security, an in-house management and maintenance team, basement

car parking, ladies and gents shower facilities, storage and meeting facilities. All of the space has the potential to be sub-divided into versatile, bespoke, selfcontained units.

Neil Kirkham, partner at Hitchcock Wright & Partners, said: “India Buildings offers the finest trophy office buildings of its type in the central business district of Liverpool. There has been much talk of the central business district moving towards Old Hall Street, however, when accommodation of this quality is available within such a landmark building, and in such close proximity to Liverpool One and other retail and leisure operations, occupiers will naturally gravitate to an area that offers staff amenities on their doorstep.”

Waterfront landmark building gets star treatment Merseyside-based firm to refurbish the Liver Building Royal Liver Building

THE ICONIC Royal Liver Building is receiving a makeover.

The Royal Liver Group has appointed Warrington-based Claremont Group Interiors to complete design and refurbishment works in the landmark premises on George’s Dock.

The decision to conduct a major upgrade on the building came after this year saw the 100th anniversary of the Royal Liver Building’s foundation stone being laid. The initiative is designed to ensure listed building’s interior matches the standards offered by Liverpool’s thriving commercial market.

Claremont Group Interiors will modernize the common areas over nine floors, as well as refurbish the third floor for tenants Office of Government Commerce, part of the fourth and the eighth floor.

Peter Fane, head of property at Royal Liver Group, said; "I am delighted to have Claremont on board as the principal contractor for the current refurbishment programme at Royal Liver Building.

Claremonts' quality design, commitment and reliability coupled with their expertise and experience make them the ideal partner for Royal Liver to revitalise this iconic Grade I* Listed Building."

Philip Westood, associate director at Claremont said; “Working on such an iconic building is a great opportunity for Claremont. The building deserves an interior to match its stunning exterior, which will provide Royal Liver’s tenants with a workplace to rival any of the new buildings on offer in Liverpool.”

India Buildings

Celebrations for Bluecoat at RIBA Awards THE BLUECOAT is celebrating a double whammy of awards as a north-west RIBA win and its recognition by English Heritage as ‘one of England’s best heritage-led development schemes’.

The Grade I listed site, which is the earliest surviving building in Liverpool city centre, and which has undergone sensitive restoration, was recognised in English heritage’s publication, Constructive Conservation, as an excellent scheme showing how to ‘rescue heritage through regeneration’.

Its recent and imaginative £12.5million conservation programme saw it reopen this year as part of the Capital of Culture celebrations in the city, with a 200-seat performance space, shops, galleries, eating places and 26 studios for artists. The result was achieved through a collaboration between English heritage, Liverpool city council, the Bluecoat, Dutch architects Biq, executive architects Austin-Smith Lord, and conservation architects Donald Insall Associates.

Henery Owen-John, regional director for English heritage, commented: “Both architects and developers at the Bluecoat showed they understood the value of this heritage site.

The rest of the country can learn from this exemplary story in Liverpool.”

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News Move Commercial

CGI of the new Traincare Centre

Network on track Edge Hill depot’s transformation NETWORK RAIL is investing £15million in brand new facilities at the Edge Hill Traincare Centre.

A new shed is being built on redundant sidings within Alstom’s depot with advanced technology to allow better access and facilities for maintenance

staff, and to provide upgraded services for Virgin’s Pendolino trains on the west coast route.

Peter Strachan, route director for Network rail, commented: “The £15million we are spending on Edge Hill is just part of an overall package to upgrade five Alstom Traincare Centres.

“The start of the Virgin High Frequency timetable in December means that this depot will handle seven Pendolino trains each night, compared with the five it currently looks after.

We are also building it to be long enough to house the 11-carriage Pendolinos in the future.

The investment in the depot supports the wider regeneration of the area under the Edge Lane scheme.”

The first of the new trains will arrive by 2010, and all new vehicles will be integrated and in service by 2012

Green for go at Hooton Cheshire environmentally friendly office development complete OAKLANDS OFFICE PARK in Hooton, Cheshire, has been complete, including with its surrounding woodland planting scheme.

Carillion’s seven high quality office units, ranging from 2,520 to 10,080 sq ft, have been awarded a BREEAM rating of ‘very good’; highlighting the scheme’s commitment to energy efficiency and environmentally friendly construction methods used in the development. The woodland planting scheme at the site, located off junction 5 of the M56 or from bus and rail services at Hooton Station, covers a 7.5 acres site. With the assistance of grant funding from the Forestry Commission, facilitated through the Mersey Forest, the new planting scheme enhances the existing woodland which has been recognised by Wirral Wildlife as a site containing 10 MOVE COMMERCIAL

species of local importance.

The second phase of development was supported by a grant from the European Regional Development Fund and the North West Development Agency, helped by Ellesmere Port and Neston Borough Council’s economic development department.

The third phase of the global developer’s plans for the site, which has already secured outlined planning consent, is currently available for design and build office opportunities. There is also potential to provide further accommodation up to approximately 40,000 sq ft.

Carillion was recognised as a company with a high environmental impact coming second place overall in the Sunday Times Best Green Companies Award, published in May this year.

Oaklands Office Park, Hooton

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Move Commercial News

Superstore’s full house

Finishing New Tesco store on site of bingo hall line in sight for Haydock scheme Easter Developments’ new tenants breathe life into the industrial estate THE NORTH-WEST office of Easter Developments is celebrating sales and lettings at its new speculative site of industrial units in Haydock.

Bowdon Developments have purchased 8,000 sq ft at £80 per sq ft and Corus, steel producer and distributor, has pre-let 22,000 sq ft on a ten-year lease at £5.25 per sq ft at Easter Park.

The scheme, comprising a total 80,000 sq ft, contains six buildings ranging in size between 7,000 and 22,000 sq ft. Work is underway by Pochin Construction, due for completion in November. The scheme has been financed by the north-east office of Dunbar Bank.

Development director, Mark Braithwaite, commented: “It is particularly satisfying to start another project here in the northwest and we are very confident that Easter Park will continue to prove popular. Two further units are also in the solicitors’ hands, and we are experiencing strong occupier interest now that site works are approaching completion.”

How the proposed Tesco will look

A PLANNING application has been submitted to Liverpool city council for a Tesco extra ‘regeneration partnership’ store in Toxteth.

The proposed development, which has earmarked the site of the former Mecca bingo hall on Park Road for its premises, would occupy 9,571 sq m, 537 car parking spaces and a petrol filling station.

The site will also house several

small retail units and a community café.

The scheme will recruit 300 permanent new jobs for the area, with the majority of new employees recruited locally, and at least half through a local partnership scheme which Tesco hopes to set up with local training agencies in the Toxteth and Dingle area. The scheme will specifically target the long-term unemployed,

offering a six-week training programme with guaranteed work when it’s completed.

Corporate affairs manager, Jennifer Duncan, commented: “Our approach is based on our belief that neighbourhood renewal is not just about bricks and mortar, but about renewing and strengthening the life of a diverse community and helping social cohesion.”

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Move Commercial News

Office location set to open

Haydock makeover is a walk in ‘The Parks’

Forthcoming events Service Master launch at Speke Venture Park, 31 October

Forward Point launch event in November ONE OF Haydock’s high profile office blocks is currently undergoing a makeover.

Bilsdale Properties is in the process of carrying out a refurbishment on No.1 The Parks office space for completion in November.

The detached two-storey site offers over 120,000 sq ft of prime office accommodation across 15 buildings.

When completed it will offer spaces ranging from 6,425 to 13,271 sq ft, and current occupiers include Eddie Stobart, Speedy Hire, Lombard and Morris Homes.

Richard Wharton at King Sturge, joint agents for the site with Bailey Deakin Hamiltons, commented: “Once completed, No.1 The Parks will provide occupiers with high quality office accommodation at a competitive market price.”

The Parks is situated mid-way between the major commercial centres of Manchester and Liverpool, with pleasant working environment containing mature landscaped areas and generous car parking spaces.

No.1 The Parks at Haydock

Business centre’s opening ‘kick off’

BCSC Conference and Showcase, ACC, Mon 10-Wed 12 November 2008

Tourism and Conference Members Meeting of TMP– 18 November 2008

Sutton Kersh auction, 4 December, Marriott Hotel, Queens Square.

Telephone 0151 207 6315.

Pioneer Business Park

‘Pioneers’ celebrate serviced business centre THE MAYOR and mayoress of Ellesmere Port and former Liverpool and Welsh International striker Ian Rush have recently opened Pioneer House, a new business centre operated by DBH Serviced Business Centres, in Ellesmere Port.

Pioneer House is a brand-new 25,000 sq ft office building located at Pioneer Business Park, North Road. The three-storey building is of the highest specification and breaks new ground providing the latest in serviced office accommodation for the area. The facility offers flexibility to occupiers with fully furnished serviced ground and first

floor offices available on an ‘all inclusive’ accommodating license.

DBH can offer suites from 200 to 300 workstations with requirements up to 8,532 sq ft catered for on the second floor.

DBH have already let 50 workstations since opening this summer and have an exceptional range of meeting rooms and facilities available to occupiers including a bespoke telephone answering service.

Piers Goodall, the managing director of DBH said, “The launch event was a great success with an excellent turnout from the private

and public sector. People are extremely impressed with the accommodation, the flexibility DBH can offer, the level of service we provide, the superb accessibility of the site and the specification of the accommodation.

“With such testing economic times

ahead of us, our flexibility must make our accommodation attractive to organisations questioning how their operations will change with the downturn. We are pleased to offer operators the ability to grow or contract, and can provide a solution to suit all situations.”

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Wellington welcomes new tenants Five signings at north Liverpool site PROPERTY DEVELOPING firm Langtree is set to launch phase three of the Wellington Employment Park South project, against the backdrop of two further lettings in the popular Dunes Way site.

Signorama and Fashion Finder have already signed up for two of the original 20 units, leaving only five available for sale and let. The spaces range between 1,440 and 8,423 sq ft.

The project, known as LFIVE, is due for completion in December 2008 and has its phase three section based on Half Crown Street. The site consists of 24,000 sq ft of self-contained industrial space that incorporates 3,300 sq ft of office space on the first floor. Keppie Massie and GVA Grimley are now appointed joint agents on the deal and quote £6 per sq ft for a new lease and £80 per sq ft for a long leasehold.

Rupert Lowe, of Keppie Massie, commented: “The speculative development being undertaken by Langtree emphasises the success of the first two phases and their commitment to the north Liverpool scheme. The unit will be of a very high quality and will offer a unique opportunity to occupiers. Interest is already being seen at an encouraging level.”

Jayne Furnival, senior property manager of Langtree added, “Our commitment to North Liverpool has been rewarded with the success of the first two phases at Wellington Employment Park South and we’re delighted to be on site with a third phase.”

14 MOVE COMMERCIAL

Hat trick of signings for Hattersley site Tenants celebrate Ormskirk office space opening THE FIRST PHASE of Hattersley Court in Ormskirk has been completed with three new tenants confirmed.

Software company Abaca Systems Limited and Hunter Mills financial advisors have taken two of the six terrace units available, each occupying 1,950 sq ft. In addition, two suites have been combined within Hattersley House and let to New Image TV. Before developers Pendle Bracken rejuvenated the site on Burscough Road, which sits 600m from Ormskirk town centre, it had lain empty since the closure of the old Hattersley Hender Foundry in 2003.

The deals mark the first in the

prestigious offices with four terrace units immediately available and ten further suites within Hattersley House Business Centre from 340 sq ft.

Phase two is expected to be completed by March 2009 comprising up to 10,000 sq ft of offices within a detached building or which can sub-divided to suite specific requirements.

Director of developing firm Pendle Bracken Ltd, Neil Clark, said “Although much of the talk locally has centred on the retail element of the scheme, the office park element has brought much needed modern office premises to the town”.

Joint agents Keppie Massie and

King Sturge have announced the official launch of Hattersley Court in Ormskirk. The open invitation event, which will take place from 12pm on Friday 28 November, will showcase the office units in the business centre to potential clients.

Rupert Lowe, of joint letting agents Keppie Massie, added: “The flexible and high quality products on offer ensure that all office requirements for Ormskirk and the surrounding region can be accommodated at Hattersley Court. We are encouraged by the transactions that have occurred prior to practical completion of the first phase and we look forward to agreeing terms with additional parties in the near future.”

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Tea for two New tenants make a splash at urban site The Tea Factory, Wood Street, Liverpool

New image for tenants in Knowsley Business park proves popular IMAGE BUSINESS PARK at Knowsley Industrial Estate North has signed up another tenant to a substantial warehouse on the site.

Minerals Resource Management, owned by Hanson UK which is part of the Heidelberg Cement Group, joins existing tenants Eastman Company UK, Ames Goldsmith UK and Future Industrial Services at Acorn Developments’ site.

Formerly one of the main Kodak manufacturing sites, and earmarked for Demolition, Image Business Park benefits from the site’s original range of modern buildings, infrastructure, power, utilities and security facilities a well as the region’s excellent transport links.

Tony Field, from Acorn, commented: “Image business Park’s strength lies in its flexibility, site infrastructure and location. The park appeals to a broad spectrum of companies, which can benefit from the site’s existing and substantial infrastructure.”

Knight Frank and King Sturge are joint agents for Image Business Park.

AWARD-WINNING property developer Urban Splash has welcomed another two new tenants to the Tea Factory building in the Ropewalks area of Liverpool city centre.

Specialist interior design group, MYO, has secured a 1,600 sq ft unit, in the redeveloped space.

Liverpool Primary Care Trust (PCT) has also taken 4,555 sq ft of space on a six-year lease.

Relocating from the trust’s former premises in Wavertree Business Village, the out of

Hospitals/Liverpool & Sefton NHS LIFT Programme Team will be joined in the new offices by the Liverpool LIFT Company, Liverpool and Sefton Health Partnership (LSHP).

Urban Splash has earned its reputation as one of the country’s leading regeneration companies and won over 250 awards to date for its commitment to architecture, design, regeneration and business success, including 41 RIBA Awards.

Graham Pink, chief executive of LSHP said, “Having successfully

completed 6 new primary care facilities over Liverpool and Sefton, the team at LSHP is constantly growing, and this created a need for a larger, more centrally located premises. We are delighted to be in the new offices within the Tea Factory”.

New company MYO was set up in March this year, and founder Phil May commented: “The calibre of our services and clientele meant that the offices had to reflect our sense of style; that’s something the Tea Factory has, without question.”

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THERE IS A DIFFERENCE To find out what difference we could make to your business contact Martin Murphy in our Liverpool office.

Anglo Irish Bank Corporation Plc The Plaza, 100 Old Hall Street, Liverpool L3 9QJ Tel: + 44 (0)151 242 6720 www.angloirishbank.co.uk Anglo Irish Bank Corporation Plc is regulated by the Financial Services Authority in the United Kingdom

16 MOVE COMMERCIAL

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Move Commercial News

German giant packs into first UK base Pioneer Business Park welcomes new manufacturer A LEADING German packaging firm has chosen Ellesmere Port for its first UK base.

Prowell, a corrugated cardboard manufacturer, has just finished what is the largest industrial letting deal in the northwest this year. The company will operate its UK distribution hub from Ellesmere Port Logistics Centre, an enormous 210,000 sq ft facility located on the newly created Pioneer Business Park.

The company, a full subsidiary of Progroup AG, based in Offenbach, Germany, selected Ellesmere Port for its first UK base after considering a range of sites in Cheshire, Staffordshire and the West Midlands. The company already operates from nine other locations across Europe.

Howard George, of joint letting agent CBRE, explained that the site was chosen because of “its motorway links, proximity to port facilities, the excellent deal being offered by the landlords Goodman’s, and the support received from the local authorities in Cheshire and Ellesmere Port and the NWDA.” Situated in Ellesmere Port’s Economic Development Zone within the EDZ programme, led by Ellesmere Port and Neston Borough Council with the help of the European ERDF and Government funding from the NWDA, the area has seen a multi-million pound public investment around the M53 motorway corridor. Over a million square feet of industrial and office space has been created with over 10 business parks and industrial estates being established since 2005.

Borough council leader, Cllr Justin Madders said: “Prowell’s decision to locate in Ellesmere Port is a fantastic boost for the town and is clearly a recognition of the huge investment that has been made here by the private and public sector recently. The borough offers businesses a dynamic location, with superb transport links, a wide range of good quality commercial sites and premises, and access to a motivated and productive local workforce.”

Prowell are expected to create around 50 new jobs on the site.

A green vision for Stonebridge Business park ready to open

Stonebridge Park

INFRASTRUCTURE work on Stonebridge Park is already underway and due for completion in November, yielding 33,400 sq m of office and light industrial space.

The 29 hectare ‘green’ business park at Gillmoss, boasts an impressive park style setting and forms a key part of the Liverpool regeneration project by Liverpool Vision.

Phase I of the project fronts the A580 East Lancs road west of the M57, comprising four

exceptionally high quality business units for let or sale it is estimated that up to 1,500 jobs will be created once the park has been completed. Sizing up at 13,041 to 28,884 sq ft the park provides further opportunity for speculative development for the offices and industrial uses.

Surveyor of joint agents King Sturge, Helen Moss said, “This key, and much needed, project was made viable through the availability of European funding and the confidence and

commitment of both St Modwen and Liverpool Vision who have worked very hard to provide a high quality product to meet local and regional demand.

“We are delighted that the first phase is already attracting significant interest. The scheme’s location is on a key arterial route between Liverpool and Manchester thus puts it into a primary and strategic sites in the Merseyside region and is an exemplar of regeneration in the north Liverpool area.”

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Business Round up

Beatles venue enjoys a lift

The team at Nobles Construction

A HISTORIC venue for music fans in south Liverpool has been lovingly restored to its former glory.

The Mustard Restaurant and Bar on Smithdown Road, which occupies the ground floors of Holyoake Hall, has undergone a transformation. The building was once part of a music hall played by the Beatles, and partly belonged to a Co-operative store. The local landmark is currently occupied by Mustard on the ground floor, with residential accommodation above.

The south Liverpool restaurant primary located between Blenhiem Road and Cramond Road and walking distance from Penny Lane and Allerton Road is perfect for access to bars, shops and restaurants and within easy access to transport for the city centre and motorway. The 200 seated open plan lounge and bar and 90 seater diner also have an option of an unused rear yard that has the potential for conversion into a beer garden to seat approximately 50 customers. There is already planning permission granted at the side of the building, with sliding doors, connecting to the bar area.

Former Whitehouse pub to be extended A LOCAL landmark is up for a makeover.

The former Whitehouse pub on the corner of Berry Street and Duke in Liverpool city centre has planning consent for an extension.The prominent local landmark, which is a Grade II listed Georgian building and features Banksy’s artwork of a cat, has been approved as a venue for an extended restaurant or bar on the ground floor and basement, with the potential for upper floor office or residential accommodation.

The opportunity includes the former Cocker Printers; a mid-terraced premises with an adjoining cleared land site on Duke Street, for the redevelopment plans.

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Noble behaviour Liverpool construction company bucks the trend LIVERPOOL-BASED Nobles Construction looks set to beat the downward economic trends by remaining on target for a record £20 million turnover in 2008.

The company has just completed four contracts totaling close to £3 million. Nobles has, as a result, been shortlisted for two new tenders with a combined value of £5 million.

In August, the company put the finishing touches to the new £1.5m Liverpool Football Club Megastore at Liverpool One, and the £700,000 children’s centre at St Margaret

Mary’s school in Knowsley. It’s also completed a 350 sq m extension at St Michael’s and All Angels Church in Pensby, Wirral, as part of a £500,000 contract to provide a multi-functional area for the local community. A £269,000 project saw Nobles transform the main dining room and kitchens at St Catherine’s Hospital into three high quality new training suites with an adjoining new facility for Wirral PCT’s Human Resources department.

Peter Linford, a director at Nobles Construction, said: “The St

Catherine’s project was a tremendous success and showcased our ability to successfully work within the healthcare sector.

“Astute planning, effective team work and developing cost-effective solutions that deliver against client objectives have proved key to our continued success. We’re on course for a record breaking year for Nobles and are looking to bolster our management team in the coming months as we focus on further growth in 2009.”

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Round up Business

Connecting Liverpool’s office market

Merseyside transport beats other regions

New tenants in business village CONNECT BUSINESS Village in North Liverpool has made successful links in the commercial property market with a string of successful lettings.

Condy & Lofthouse Architects (CLA) is the latest company to relocate to developer Langtree’s newest business park. The awardwinning architectural practice has announced its decision to take a two-storey self-contained office building comprising 3,182 sq ft.

The move will see the 30-strong work force, which consists of architects, technicians and administration, relocate to the city from its current premises in Southport.

Andrew Armstrong, a director at Condy & Lofthouse Architects, said: “We are convinced that this is the right move for the continuing development of our business. We have all been looking forward to re-locating to a new dynamic studio environment and becoming part of the success of Connect Business Village.”

Connect Business Village, which is located off the A565 Derby Road, provides 15 self-contained offices ranging from 1,300 sq ft to 3,400 sq ft. John Downes, managing director at Langtree, said: “Connect Business Village is proof that there is still a good market for a high quality product.

Bill Addy, development director at Iliad Developments Group, collecting his award for Good Transport Design in a New Building/Scheme from Phil Redmond at the Merseyside Transport Conference.

Annual conference provides insight MERSEYSIDE OFFERS a competitive advantage in transport terms over other investment locations, according to a survey commissioned by the Merseyside Transport Partnership, alongside chambers of commerce.

The report canvassed senior figures in 460 businesses from across the industry spectrum ahead of the second annual Merseyside Transport Conference.

The movement of goods was highlighted as an important factor in the functioning of organisations and around half of those surveyed experience regular delays.

Some 60 per cent of businesses said they had experienced some negative impact on their business due to delays in delivery.

Other concerns raised included problems with staff being held up getting into work, however, employers

were generally cautious about measures such as congestion charging as the best way to tackle the problem of commuting delay. More enthusiasm was shown in the short term for increased flexibility in working hours and bus priority measures.

Cllr Jean Quinn, chair of the Merseyside Strategic Transportation and Planning Committee, said: “The information we are getting from local businesses is absolutely invaluable. We are hearing what issues and concerns are uppermost in the minds of companies operating in Merseyside.

“We know that 61 per cent of UK businesses agree that the local transport situation has a major influence on where they choose to set up, so if they knew that they can move people and products freely and easily around Merseyside, it could be a crucial factor in attracting investment to the region.”

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Connectivity, Catchment, Cost Three good reasons to invest in St.Helens…and there’s more St.Helens has been officially identified as one of the most attractive office locations in the country1. Thanks to its prime regional connectivity - midway between Liverpool and Manchester - a catchment area of over seven million potential customers, and a highly cost-effective and business-friendly environment, St.Helens has a great deal to offer.

Innovative and dynamic companies who’ve chosen St.Helens are enjoying the benefits of improved competitiveness and unparalleled business support. Why don’t you join them?

If you want to find the right reasons to locate in St.Helens, please call John Quirk, Business Location Service on 01744 742 011, visit www.investinsthelens.com or e-mail enquiries@investinsthelens.com 1East-West

location, October 2005

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Liverpool Chamber of Commerce 5k Team Challenge Key events in association with

Top teams

By Lucy Oliver lucy@movepublishing.co.uk Liverpool Chamber of Commerce 5k Team Challenge brought suits out in their shorts by the hundreds. Runners followed a track around the Liver Buildings and the city centre to raise money for their chosen charities, with Lovell, Grant Thornton, Mace & Jones, Berrymans, Liverpool Vision and Move Publishing all taking part.

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Where individual smiles matter

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1. Nathan Vengdasalem, Olympic Scaffold & Tower Hire, ‘Olympic Don’t do Second’ who came first at 16.56 minutes 2. John Owens, Berrymans Lace Mawer 3. Paul Hicken running for Grant Thornton ‘G & Ts’

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4. Rob Lapley from Liverpool Vision team 1 5. Andrew Lee from Mace & Jones enjoys the challenge 6. Jacksons Solicitors ‘The Jackson Four’

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7. Blankstone Sington Ltd – ‘The Bears’ 8. Dave Hughes, ‘The Lovellies’ running for Lovell 9. Rachel McCartney, Berrymans Lace Mawer MOVE COMMERCIAL 21

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Mere Grange Business Park Launch Key events

Langtree Launch St Helens Units

By Lucy Oliver lucy@movepublishing.co.uk

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1. Cllr Brian Spencer with Paul Wellens from St Helens RLFC, Stephen Barnes from Langtree, Jon Wilkin from St Helens RLFC and Eliot Lewis-Ward, from English Partnerships

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A HIGH PROFILE rugby-themed breakfast launch was held to celebrate the completion of the £12 million first phase of a prestigious new business park in St Helens; Mere Grange. The major development, just off the St Helens Linkway, was built speculatively through a joint venture with developer Langtree and English Partnerships, and the first phase offers 54,000 sq ft of office space in detached and semidetached units.

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2. Tony Reed, Keppie Massie, with Andrew Owen of Mason Owen and Jeff Porter, Move Publishing 3. Stuart Keppie, Keppie Massie, with Aidan Manley, St Helens Council, Malcolm Morgan from Morgan Williams and Chris Connor from Mason Owen 4. Justin Rouse, P3 Property Consultants, with Steven Greenway, Langtree and Daniel Rodgers, P3 Property Consultants

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5. Robin Evans, Matthews and Goodman 6. Kieran Grealis from Langtree with James Roberts from DTZ 7. Andrew “Wilkinson” Owen, Mason Owen 8. Jon Wilkin and Paul Wellens, St Helens RLFC

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9. Robin Evans, Matthews and Goodman, with Tony Reed from Keppie Massie, Jonathan Boucher from Cushman and Wakefield and Andrew Owen, Mason Owen 10. Nicola Wooding, English Partnerships and Keith Winter, Langtree, with Eliot Lewis-Ward, English Partnerships and Aidan Manley, St Helens Council 11. Cllr Brian Spencer with Stephen Barnes from Langtree and Eliot Lewis-Ward, English Partnerships MOVE COMMERCIAL 23

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The decision to appoint the new chair of The Mersey Partnership from the private sector is expected, in all quarters, to energise the campaign to attract inward investment and promote tourism in the Liverpool City Region; the new brand name for the area previously referred to as Merseyside. With the £1billion Liverpool One regeneration project completed, redefining the heart of the city, Grosvenor’s Rod Holmes will now take on the task of heading up the TMP.

Breaking the boundaries ONE FLOOR UP from the international developer’s offices on Lord Street, where Hilton will also have its new base in the city, is the venue for our interview. With the last phase of Liverpool One delivered to date with a Royal reception, fashion catwalks and street entertainment in the days previous to our conversation, a sense of achievement and excitement, if that’s not too mild a word, fills the busy office spaces. As Grosvenor’s project director, Rod’s role in the Paradise Project was pivotal in re-landscaping the city. For an international developer to invest in any city will always make the headlines; for Grosvenor to attempt a redefinition of Liverpool, as synonymous with shopping, work and play made waves within the city, nationally and across the globe.

Unlike many developers, Rod seems reluctant to give Liverpool One, the mixed-use leisure, retail and residential developments all the credit for the city’s renaissance and rebirth. With a lively intelligence, gentle manner and quiet confidence, it’s clear that many years of research and discussion, belief and 24 MOVE COMMERCIAL

commitment are what have brought us this far; and his new role as chair of The Mersey Partnership will see him work in the same way as he has done in the city’s regeneration project, but for the whole of the region. He sees the new task as building upon the foundations of Liverpool One, and digging the trenches further: “In a sense, what I shall be doing with the excellent team at The Mersey Partnership is a natural follow on from what I have been doing here at Grosvenor for the past eight years.

“Liverpool has always been a strong brand as one of the central ports in the world, and for its sport and music, but now it’s suddenly become again known as the place ‘where the action is.’ So let’s use that brand to our advantage, to bring in tourists and new businesses and investors, that already know quite a lot about ‘the new Liverpool’ instead of calling it ‘Merseyside’, which doesn’t mean a lot to anybody beyond the area.”

The origins of Liverpool One can be traced to the late 1700s with the Grosvenor family’s extensive estate

in central London, which now forms Belgravia and Mayfair. Beginning with specialist office and high-end residential schemes in the capital, the company’s work of more recent years has focused on large retail-led mixed-use projects in other English cities with an urban focus. As an international company, it’s that experience of other cities and a refusal to accept the status quo which has informed the Paradise Project with a new, uncompromising vision for the future of Liverpool.

Rod sees that his passion for the city of Liverpool cannot but be affected by, and effect change within the wider region: “Ever since I started work on the Paradise Project we had the benefit of the research and marketing work that TMP does, as Grosvenor is a member, and I knew about the valuable work it does as the inward investment and tourism agency for the city region.

What I hadn’t fully realised is the role it will play in bringing about the city region as one economic unit, so that we can compete with other large cities and conurbations, in what we all now call ‘the global economy’.”

Working in the Paradise Project was a hands on job; covering all aspects of the project from legal documents through to the concept, architecture, construction, finance, leasing and finding occupiers. In The Mersey Partnership, Rod’s nonexecutive role means he’ll be representing the organisation externally. If a track record in negotiating to alter perceptions about the city, within and outside it, are an indication of future success, then Rod’s gifts make him an excellent choice for the new role: “I spent a lot of time explaining the great opportunities there are ahead for Liverpool, and I have become very enthusiastic about Liverpool people.

Although I am a Yorkshire man and one of our homes is still in East Yorkshire among extended family, a large part of my heart is here.”

Appreciating the different aspects of an environment, the city, country and the coast, is vital to selling the region as a place for business, leisure, tourism and retail. The re-branding of the city came about for the independent boroughs to work together to help ‘sell’ each other’s products and services; some would say to capitalise on the Liverpool brand for the benefit of the wider area. It’s about breaking down boundaries to boost economic investment across the sub-region: “I think we’re very fortunate to have an organisation like TMP which already brings together the local authorities and the private sector, because it gives us a team of people who are used to working at the city region level. We’re lucky to have the TMP developing the sub-regional economy at the time when we know it is more important than ever.”

It’s a fruit of Liverpool’s recent successful developments that a seed planted many years ago will now germinate. For Rod, it’s a personal investment with wider implications: “People say ‘I am passionate’, but what I am extremely passionate about and interested in is the way cities can change, and can change the lives of people quite quickly.

Together with Mike Storey, leader of the council then, with his senior officers, we had this idea that if the heart of Liverpool city could be brought to life again and made exciting and dynamic, a lively place again, then it would not only attract visitors but it would attract students, business people, investors, and entrepreneurs.

“That was just a notion that we had, but what we can see around us

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Rod Holmes Movers & Shakers

now is that idea coming to fruition; the universities are attracting more students than ever, and the city is attracting more tourists than ever.

Despite the general economic climate the shops again are doing more business, the museums, art galleries and theatres are attracting more people; largely because of the private sector investment and the confidence that people have shown in the city and its people.”

With a career in development spanning 48 years, and several continents, Rod’s private sector background has seen confidence and risk pay off to greater or lesser extents, where there are no buffers for poor judgements and hasty decisions, but can see changes and results. Rod believes that Liverpool’s

private sector investment can change the city in ways government funded schemes cannot: “The change I’ve witnessed most is, above all, in the way young people now feel about the city and their future in it. I think that’s a wonderful thing. I want to be around as it moves forward, and the energy, creativeness and good feeling, now moves out into those areas which have been struggling for far too long, and into the other parts of Merseyside.”

But why such a passion for Liverpool, out of all the cities Grosvenor has worked in? For Rod, it draws a contrast with his Yorkshire reticence: “Here I am in a city which wears its heart on its sleeve, that’s not afraid sometimes to get things wrong, and to be a bit silly. I find that

every attractive. We sometimes go over the top here, and it’s important.

If you’re always being careful, you don’t live.

“What happened for far too long was that the city and the outside world just concentrated on the silliness and the unsuccessful aspects of life here. Now, partly through investment and development, and partly though Capital of Culture, the world at large has realised that there is much more to Liverpool than the stereotypes and caricatures which have been associated with us for far too long.

“The TMP is a pact between local authorities in the region and the private sector, and I think it’s appropriate that they have now chosen a chair from the private

sector because it’s important that people know that it is ultimately because of private sector investment and confidence in the city that we are now moving forwards, after years of very little investment and virtually no confidence in Liverpool. That is changing now, and we have got to be sure that it continues.”

It’s no easy task which Rod sets out for The Mersey Partnership: “Nobody, least of all me, is under any misapprehension that what lies ahead of us is going to be easy. We can make it easier by being very clear about what needs to be done; that we ‘have to’ catch up and overtake other city regions, and that we can do so if we have at the heart a very powerful, energetic, centre.

“Great, important things are at stake, not least the health, education, and the careers of our children and grandchildren. We have to be very serious about what we’re doing. We have to aim very high. The private sector is a very serious and sometimes hard-nosed world. We have to be able to take it on its own terms. Investments, development, business, has to show returns. We have to understand how creating returns on money creates the resources for social and environmental challenges, and cultural life. If John Lewis and Debenhams and the other shops don’t make profits, they can’t pay rents. If the rents are paid, we can create Chavasse Park, clean the streets and so on; when the rents are paid, then taxes are pumped back into other projects for the community like the Everyman Theatre and the Playhouse - and the big spider.”

For a non-native Liverpudlian, Rod is a firm believer in the city and the region’s future, and has seen the potential of its young people who have visited the Shop for Jobs, that he helped to establish below the Liverpool One office: “At heart I am an optimistic person and I have a great confidence in human nature, and affection for people. I care about what lies ahead for our young people, especially now that I’m a granddad. I like to hear from them how excited they are about working at the heart of an exciting place. When you go into a shop or restaurant and see them keen and ambitious, that they feel that they’re at the heart of things; I find that very exciting.”

The city’s come a long way in the past nine years and, with a regional vision, who can say where it will take us in a few more?

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Liverpool One Key events

By Lucy Oliver lucy@movepublishing.co.uk

Liverpool One office launch AN OPEN morning at Liverpool One’s first office development in the Stanley Building, Russell Building and Compton House on Hanover Street saw property professionals, and those interested in leasing the space, mingle as they toured the 35,000 sq ft of revamped and refurbished office suites.

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1 and 2. Stanley Building’s impressive exterior 3. Ed Webb, Grosvenor with Stuart Keppie and Tony Reed, Keppie Massie

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4. John Lowe, Boland Lowe, with David Porter from Knight Frank, and Martin Tyrer, Boland Lowe 5. John Brown, Knight Frank, and Anne King, Paul Moy Associates 6. Sarah Delucia, Gilling Dod, Liz Richards, Office Angels Recruitment, with Tony Reed and Andrew Byrne, Keppie Massie

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7. Heather Thompson, Grosvenor, and Phil Owen, Brock Carmichael Architects, architects for the building 8. Martyn Green and Louise Bardsley, King Sturge 9. Paul Richardson, McKays Solicitors, and Stuart Keppie, Keppie Massie 10. Inside the offices MOVE COMMERCIAL 27

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IMPRESSIVE. OPULENT. UNIQUE.

TO LET 40,000

sq ft

Up to

Banking Hall & Offices (3,716 sq m) Leasehold by assignment This Grade II listed accommodation offers an impressive environment for a range of uses including a landmark company headquarters or a potential boutique hotel, leisure operator, niche retailer or restaurant at the heart of Liverpool’s business district. Subject to consents.

4waterstreet.co.uk 28 MOVE COMMERCIAL

LIVERPOOL

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Monuments Exhibition Key events

Landmark building plays host to Biennial

By Lucy Oliver lucy@movepublishing.co.uk

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1. Terry Duffy, artist, and Rikki Griffiths, Barclays Commercial

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AN EXCLUSIVE private viewing of the biennial exhibition ‘Monuments’ by Liverpool born artist Terry Duffy was recently held to market the former banking hall at 4 Water Street, Liverpool.

The vacant Grade II listed building played host to members of Liverpool’s Artists Club as

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well as business leaders from around the city.

Also on display were the proposals to transform the banking hall into viable office accommodation, offering up to 40,000 sq ft of space for a range of uses including a company headquarters or a trophy hotel/leisure operator.

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2. Rod Holmes, The Mersey Partnership, and Tim Marshall, Bremners 3. Alun Jones and Samantha Dunning, Barclays, and David Al-Hadithi, The Design Foundry 4. Rikki Griffiths, Barclays Commercial 5. Tim Gray, OSS Securities, Lesley Martin-Wright, JST Lawyers and Stuart Keppie, Keppie Massie

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6. David Evans and Maria Burquest, DWF 7. Peter Summerfield, Summerfield and Lang Ltd with Bob Chadwick and Kim Zadow, RCP Architects 8. Robin Ellis, Downing, and Tim Bingham, Bingham Davis

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9. Ann O’Connor and Steve Morley, Cameron Corporation Ltd 10. James Clarke and Jeff Gillbanks, Brabners 11. David Sayer, GVA Grimley with Andrew Kellaway from Todd and Ledson and Alun Jones, Barclays MOVE COMMERCIAL 29

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In the late nineteenth century, a Dutch merchant came to Liverpool to reap the rewards of the trading capital, and set up a company selling stocks and shares.

Rensburg Sheppards, as it is now known, grew steadily over the past 150 years to become the leading company of investment managers in the city; keeping a finger firmly on the economic pulse to take advantage of new opportunities for investors in Liverpool. John Seal is director in charge at Rensburg Sheppards and is as passionate about the financial market and the city as his company forebear.

A capital investment JOHN WELCOMES me into a meeting room on the thirteenth floor of The Plaza on Old Hall Street, where fantastic views over the city give a sense of perspective to a busy financial corporation. From its origins in the city in 1873, when the Dutch broker and merchant Henry Rensburg founded the business, Rensburg Sheppards has grown to occupy a coveted position at the top of the investment management tree.

Over the years, trading and investment has changed, but John tells me that Liverpool remains a city with a strong sense of the importance of equity investments: “Liverpool was the wealthiest, or second wealthiest city when Rensburg came here, and that was a huge magnet for him. Over the years we’ve grown and developed our services, and acquired Carr Sheppards Crosthwaite, the London based company owned by the south African bank Investec, in 2005. This 30 MOVE COMMERCIAL

effectively doubled our size and, from March 2008, we’ve been looking after £12 billion for clients, making us one of the largest investment managers in the UK, after the high street banks.”

The firm now have 11 offices across the country with several in London, and in the north too; Leeds, Manchester, and Sheffield. At the time of the 2005 acquisition, the company went on record as saying they were looking forward to gaining a foothold into the incredibly wealthy south-east. It’s undoubtedly the case though that such expansion was based on the firm foundations of the business’s success in Liverpool: “The original wealth in Liverpool was due to the cotton being brought here after it was picked in the Empire. It was processed in the mills in Lancashire before it was then exported back through Liverpool. For this reason, Liverpool was not just gaining a

reputation for being a wealthy city; it also has a strong tradition in insurance for cotton, corn and anything else brought into the port.

“It’s interesting that in the 50 year period post-war, a person may have owned a portfolio of shares that was just quoted in the UK. Before that, the majority of shareholders’ wealth was invested overseas, as that’s where the Empire was. I was clearing out my father’s house and I found an old copy of the Liverpool Courier from 1920 which just lists the amount of goods being traded in and out of Liverpool. For this reason, Liverpool has a much stronger culture of equity investment and insurance than other cities, even not too far away.”

Liverpool is also able to offer the expertise necessary to a big financial firm: “The city has a strong clerical, financial and administrative workforce which we’ve seen grow, and when we acquired Carr

Sheppards Crosthwaite we moved the administration department up here. We doubled the staff from 70 to 150. The reason we were able to do that is due to the pool of talent in Liverpool; and that’s been recognized by the Bank of New York, Tilney, and Rathbone.

Liverpool is unique in the UK. As a provincial city, we’re still the centre of larger investment management firms, and for the city to have such strength in this sector is good for Liverpool as a whole.”

In the current climate, the sector is changing, however, but Rensburg Sheppards are prepared to meet their clients’ new demands: “There has been a change over the past thirty years from our core expertise, as people need broader financial advice. You don’t need to be hugely wealthy to have quite complicated tax affairs now, due to inheritance tax and capital gains tax legislation, and fiscal drag. Occupations that

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John Seal Founding Fathers

traditionally wouldn’t have put people in the higher tax bracket now do so, so we offer a rounded financial advice package. The movement in that direction has been demonstrated in recent weeks, where we’ve spent more time answering queries than we have talking about investments.”

Property has long been regarded as a valuable investment, comparable with a pension, but John is keen to stress that property and equity should not work in opposition: “For investors the most important thing is to invest in a variety of asset classes. To a certain extent, for the last ten years, property has been seen as the only game in town. That’s been down to the equity market having a difficult time from 1997 until 2003 when the one hundred shares index halved due to the excesses coming into the system From the ‘dot com boom’.

“One thing we have seen over the

last six months has been the dangerous assumption in parts of the mainstream press that property was somehow an investment that couldn’t fall in value. If you look at the broader indices, you see that, in fact, equity and property returns have been very similar over the last forty years.”

“One area that has seen excellent development has been with REITs; the Real Estate Investment Trusts.

These removed the tax disadvantage in property investments, and was wonderful news for the smaller investor, who could gain access to the commercial property market through the equity market. UK customers have embraced the concept over the last twelve months.”

If an investor should take out equity and property investments, it’s also wise to have some cash.

John also recommends government gilts to clients; widely seen as the

soundest investment. On the subject of the government’s rescue plan for the banks, John believes that that was the only thing that could be done to free up the markets again.

His view on the north-west’s situation is that Capital of Culture should help to improve the city’s image and its fortunes: “Liverpool did lag behind in the 70s and early 80s but we’ve seen a renaissance over the last ten years that’s just gathering speed.”

Originally from Preston, John spent the early years of his life in the south before moving back up to live in Southport. A passionate golfer, it was the quality of life up here which informed his decision not to work in London.

“For our founder, Henry Rensburg the port was central to business; most of the great cities in the world have access to the sea. The entrance at Liverpool is still regarded as one of the most attractive port entrances

in the world.” Furthermore, the close relationship between business success and cultural activity is unquestionable, as John continued: “Rensburg’s passion for music saw him introduce many of the early composers and musicians to the city.

Today, Rensburg Sheppards remain one of the Philharmonic Hall’s principal patrons.”

Looking out over the city from high up in The Plaza building, a landmark in the city’s history of new office buildings, Rensburg Sheppards occupy 23,000 sq ft of space on a single floor: “When we moved in, it was the JM Centre and we were one of only two nonLittlewoods related businesses in there. Now, we’ve seen the commercial district move further up Old Hall Street, and there’s been an attractive makeover at The Capital.”

With its roots in the city’s history and its heart in its future, this is surely a perspective worth taking in.

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Key events Move Commercial Business Breakfast

in association with

The future for property

By Lucy Oliver lucy@movepublishing.co.uk

1

1. The Halliwells table

MOVE COMMERCIAL’S latest business breakfast asked its panel, ‘Where is the property market heading?’ over pastries and coffee at The Foresight Centre on Brownlow Hill. Chaired by journalist and broadcaster Liam Fogarty, and sponsored by prestigious law firm, Halliwells, property professionals discussed Liverpool’s renaissance and found hope for the future even under the current economic climate.

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3

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2. David Littler and John Sawbridge, Rensburg Sheppards 3. Liam Fogarty, breakfast debate chair, with panel members Stuart Keppie, Keppie Massie, Paul Taylor, Barclays, and Peter Stoney, University of Liverpool Management School 4. Kevin Lee, Halliwells, and George Downing, Downing

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6

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5. Ashleigh Harvey, Halliwells, and Diane Spivey, Liverpool Vision 6. Howard George, CBRE, and Chris Connor, Mason Owen 7. Neil Kirkham, Hitchcock Wright and Partners, and John Brown, Knight Frank 8. Simon Barlow and Paul Davenport, Bank of Scotland

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10

9. Ann Lodge, Downing, and Lesley Martin-Wright, JST Lawyers 10. Alex McCann and Rose Moss, Halliwells, and Robin Ellis, Downing 11. Nigel Cooper, Barclays, and Bill Dickinson, Hannan Associates 32 MOVE COMMERCIAL

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The last couple of years have seen Liverpool and the surrounding area begin a number of ambitious developments, along with exciting proposals, for commercial and public benefit but, in the current economic situation, how are these projects holding up?

We’ve taken a snapshot of the region’s major schemes to see what’s on target, and what may be affected by the current financial climate.

Keeping track: Regional Projects Update Museum of Liverpool Project: Museum of Liverpool Location: Pier Head, Liverpool’s waterfront Developer: National Museums Liverpool Costs: £70million in total How is it being financed: NWDA grant of £3.7million, European grant from Merseyside Objective One programme for £5million, Garfield Weston Foundation pledge of £1million, DCMS government pledge of £500,000, Heritage Lottery Fund grant of £11million for the fit-out of the museum, £400,000 in

34 MOVE COMMERCIAL

development funding from HLF for Museum of Liverpool and £2.75million pledged from a variety of other sources.

Intended commercial use: A new public museum for the people of and visitors to the city.

Scheduled date for completion: Due to open in 2010.

On site/expected on site: Work currently underway.

Likely or confirmed tenants: This building is designed and built for the end-user.

Spin-offs: This will provide a major

boost to the economy on the waterfront, attracting more than 750,000 visitors per year and, before that, providing at least 500 construction jobs and 73 direct permanent jobs.

Likely to be affected by the current financial crisis? No, public funding is secured to take this iconic development through. After the waterfront’s troubled relationship with planners, this public-orientated scheme looks set to complement the city’s renaissance.

CGI of proposed scheme

India WirralBuildings Waters Water Street

Location: 500 acre project at Birkenhead docks Developer: Peel Holdings Costs: £4.5billion How is it being financed: Peel‘s commercial investment into the waterfront.

Speculative/non-speculative: This is part of a 30-year plan to regenerate the north-west with an iconic waterfront to rival cities such as Shanghai, New York and Sydney.

Intended commercial use: 5 million sq ft office accommodation, 571,000 sq ft retail and leisure space and 15,000 new homes.

Scheduled date for completion: Online planning due at the end of the year.

On site/expected on site: There will be an update on progress in January 2009.

Delivered on target? Peel has an excellent track record in delivering high quality, successful regeneration schemes, to budget and to target, such as £600m Trafford Centre.

Likely or confirmed tenants: Not as yet.

Spin-offs: The benefits of a worldclass iconic waterfront, a boost to the local economy, inward investment and thousands of new jobs in Wirral.

Likely to be affected by the current financial crisis? This is a long-term project of investment and regeneration, with secured funding.

Planning issues are more likely to affect this project than financial ones. Let’s hope local councils will support this major regeneration scheme.

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Economic Climate Update Focus The Hive Location: Widnes Waterfront Developer: Widnes Regeneration Ltd. This is a joint venture between Halton Borough Council and St Modwen Properties PLC. Costs: £10million How is it being financed: Widnes Waterfront is one of only fourteen Economic Development Zones (EDZ) in the north-west, and development is funded by the European Regional Development Fund, NWDA, and Halton borough council.

Speculative/non-speculative: Key tenants secured.

Intended commercial use: This is a major leisure attraction featuring an ice rink, cinema, restaurants and retail.

Scheduled date for completion: No announcement yet.

Likely or confirmed tenants: Confirmed tenants include Planet Ice (ice-rink), Tenpin Ltd (24-lane bowling alley), Reel Cinemas (five screen cinema) and Frankie & Benny’s with other restaurants and associated retail expected to confirm imminently.

Spin-offs: 2,700 new jobs and new wealth and vitality in the region.

Likely to be affected by the current financial crisis? No, as this project is funded by regional and European capital as a major regeneration scheme with a long-term plan, we expect to see this scheme continue as expected.

Latest news at time of print: A major announcement is anticipated before Christmas this year on the schemes progress.

Post Panamax River Container Terminal Location: Port of Liverpool, waterfront Developer: Peel Holdings Costs: £100m.

How is it being financed: Peel Speculative/non-speculative: This project is designed to accommodate the world’s largest container vessels in Seaforth by building a 42-acre terminal capable of accommodating two postPanamax ships.

Intended commercial use: This will allow the largest cargos to arrive into Liverpool for unloading; said to eliminate 800,000 truck movements and save the north-west industry £100m a year.

Scheduled date for completion: Latest press information specifies that plans are currently being drawn up, with

costings for the project which already has government consent.

On site/expected on site: Information not available.

Likely or confirmed tenants: This is a project with a specific industry in mind.

Spin-offs: The impact of this facility on the industry will certainly boost Liverpool’s trading.

Likely to be affected by the current financial crisis? This project is a longterm development of regional and national significance and, judging by the developer’s commitment to the city, unlikely to be affected by the current climate.

Liverpool FC Stadium Location: Stanley Park, Anfield, Liverpool Developer: Laing O’Rourke Costs: £350m How is it being financed: £9.3m from NWDA, private investment of around £300m from new investors.

Speculative/ non-speculative: Non-speculative.

Intended commercial use: 73,000seater sports stadium, commercial use – shops, restaurant, conferencing.

On site/expected on site: Originally planned construction for 2007 but delayed due to credit crunch.

Delievered on target: Received planning permission in June 2008 but due to financial difficulties will not meet target to be open for the start of the 2011/12 season.

Likely or confirmed tenants: Liverpool FC. Spinoffs: The former home of LFC at Anfield is to be developed to become the Anfield Plaza. This will be a tourist attraction to include a hotel, bars and restaurants, 1.6 hectares of high quality public open space, a tennis centre and multi-use games area, shops, residential, offices and community uses. In conjunction with plans for a new stadium is the restoration of Grade II listed Stanley Park, which includes the conversion of Isla Gladstone Conservatory.

Likely to be affected by the current financial crisis: Yes. Liverpool Football Club has recently announced that the project is affected by the global market conditions and therefore subject to delay in the short term.

MOVE COMMERCIAL 35

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CGI of proposed scheme

White Star Line Liverpool Waters Location: 150 acre site on Liverpool waterfront from Princes Dock to Bramley Moore Dock Developer: Peel Costs: £5.5billion How is it being financed: Peel Speculative/non-speculative: This is in outline form at this stage Intended commercial use: This is a mixed-use development including plans for a monorail, with a connection to JLA, restoration of Jess Hartley clock tower at Salisbury Dock, self-sufficient buildings, 4 hotels, 23,000 new homes, a new marina, a cruise liner terminal and new public spaces.

Scheduled date for completion: Planning not yet submitted for this scheme.

On site/expected on site: Planning to be submitted later in 2009.

Likely or confirmed tenants: None as yet.

Spin-offs: This is a massive scheme to regenerate the waterfront and, with Wirral waters, creating 17,000 permanent new jobs and opportunities for the local economy.

Likely to be affected by the current financial crisis? Let’s hope this ambitious scheme meets approval to support the rest of the city’s renaissance. Peel’s excellent track record and long-term commitment to the city and its surrounds ought to earn support from the surrounding councils.

36 MOVE COMMERCIAL

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Project Jennifer Location: Great Homer Street, Liverpool Developer: St Modwen properties plc.

Costs: £150m How is it being financed: Privately funded project delivered by St Modwen in conjunction with Liverpool City Council.

Speculative/ non speculative: Non speculative Intended commercial use: Largest superstore in Merseyside, 80,000 sq ft of additional retail units, 20,000 sq ft leisure unit, 70,000 sq ft of business accommodation, new market hall and 300 outdoor market stalls.

On site/ expected on site: Early 2010 Delivered on target: Delayed due to potential anchor tenant, Tesco, failing to sign after years of discussions. Now in advanced discussions with new tenant but delays expected due to compulsory purchase order process.

Likely or confirmed tenants: St Modwen is in advanced negotiations with a leading supermarket chain to become anchor tenant for the project.

Tenants for the additional retail units still to be confirmed.

Spin-offs: St Modwen has bought four industrial estates in Merseyside, to support the Great Homer Street scheme. The four industrial estates, which total almost 220,000 sq ft are Larch Lea in Anfield, Brasenose Road in Bootle, Clegg Street in Everton and Gillmoss on the East Lancs Road.

The acquisition of these properties, which include 100,000 sq ft of vacant space, will give St Modwen options to relocate industrial occupiers that are likely to be affected by its ambitious plans for a new district centre at Great Homer Street. 740 new jobs set to be created by shopping and business facilities, 160 of which are to be created by the new food superstore.

Likely to be affected by the current financial crisis? Securing a major supermarket chain as anchor tenant will give the project a much needed boost and help to attract further retailers to take up space.

The project has been planned to ensure it is based on more than just a food store, however, there is no getting away from the fact that the anchor tenant is the primary financial driver.

Mann Island Location: Mann Island, near Pier Head Developer: Neptune and Countryside Properties Costs: £112million How is it being financed: Private sector investment Speculative/non-speculative: Intended commercial use: 100,000 sq ft of commercial office space, covered and open public realm areas totaling 15,000 sq ft and residential accommodation with car parking.

Scheduled date for completion: 2009 On site/expected on site: Work began in autumn 2007 and is now well advanced.

Likely or confirmed tenants: Dylan Harvey purchased 376 residential apartments for a sum above £70million, and rumours of significant foreign investment in the office premises are soon to be confirmed.

Spin-offs: This redevelopment of

New Brighton Floral Pavilion Theatre and Town Square Location: New Brighton waterfront Developer: Neptune Developments Costs: £60million scheme How is it being financed: This has been financed by Merseyside waterfront regeneration Partners, ERDF and Wirral Council Speculative/non-speculative: This is a massive regeneration project for the waterfront.

Intended commercial use: This will comprise a hotel, marine lake, outdoor spa, Morrisons supermarket (64,000 sq ft), a sixscreen cinema, budget hotel, floral

pavilion and theatre.

Scheduled date for completion: The New Year will see work commence on phase two.

Likely or confirmed tenants: Apartments at Rococo Square, adjacent to the theatre complex, are already being marketed.

Spin-offs: A major boost to New Brighton’s economy with jobs and attractions for visitors.

Likely to be affected by the current financial crisis? Public funding has been secured and should see this project through.

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Economic Climate Update Focus Southport Floral Hall Southport Theatre and Conference Centre at £6.5million, and Ramada Plaza Hotel and Stanley Casino Location: Southport waterfront Developer: Neptune Developments Costs: £30million scheme for Neptune’s hotel and casino and £6.5million for Theatre and Conference Centre. The scheme is over 174,000 sq ft and will produce around 500 new jobs.

How is it being financed: This is a mixed-use scheme delivered by Neptune Developments, the Floral Hall by Sefton Council.

Speculative/non-speculative: The scheme has Ramada Plaza as tenant for its133 bedroom hotel, Stanley ‘Circus’ Casino has signed for 16,000 sq ft, and other leisure tenants are expected.

Intended commercial use: Mixed-use leisure scheme including Scheduled date for completion: Hotel is due to open on 1 November, the casino is at the fitting-out stage.

On site/expected on site: Car park for the conference centre is being remodeled and due for completion by Christmas.

Delivered on target? The shell development was scheduled for early 2008 with fit-outs completed during the year. It is soon to open and Likely or confirmed tenants: Ramada Plaza Hotel and Stanley Casino confirmed.

Spin-offs: New restaurant and bar tenants for the 15,000 sq ft of leisure space available at the scheme, drawing in future investment and visitors to the area.

Likely to be affected by the current financial crisis? No, it’s well advanced. The Ramada Plaza is due to open later this month, drawing in more investment and further fanning the flames of the waterfront’s regeneration.

Bookings for conferences have increased at double the rate of last year for the redeveloped conference centre and theatre.

The leisure spaces are built and ready to let.

the waterfront has taken a long time to secure approval; this project could be the key component in drawing together the waterfront’s reinvention.

Likely to be affected by the current financial crisis? With several key players involved in various aspects, and Neptune’s track record in ambitious regeneration schemes in the north-west, this project looks set to be a real success.

St Helens Rugby League Club

Location: St Helens Developer: Langtree Group plc Costs: £100million retail and leisure scheme and 18,000 capacity stadium, and 100,000sq ft Tesco.

How is it being financed: A joint project between the Saints, Langtree, £4.9million grant in NWDA funding, Tesco and St Helens Council.

Speculative/non-speculative: A long-awaited project for

rugby fans.

Intended commercial use: Retail and leisure.

Scheduled date for completion: 2011 On site/expected on site: Site clearance to begin in 2009 Likely or confirmed tenants: Tesco confirmed and a deal is expected with Taylor Woodrow for a new housing scheme.

Spin-offs: A public plaza, 190 homes on a new development.

Likely to be affected by the current financial crisis?

The funding for the stadium was dependent upon the sale of the old club’s land to Taylor Woodrow for £14million. After the recent merger of Taylor Woodrow with George Wimpey in the current economic climate, speculation runs as to whether the deal will be made and a decision is expected to be announced, but there has been no indication of any change in plans.

Everton FC Stadium Location: Kirkby, Liverpool Developer: Tesco, working in conjunction with Knowsley Borough Council and Everton Football Club.

Costs: £400 million How is it being financed: This is a joint venture between Tesco and Everton Football Club and financing remains confidential.

Speculative/ non speculative: Non speculative Intended commercial use: 50,000 seater stadium, a Tesco Extra superstore, 50 other high street retail shops and the opportunity for a leisure development.

On site/ expected on site: There has been a significant delay to the project due to it being called in by the secretary of state. The public inquiry investigating the proposal and how it will impact on the local community and economy begins on November 18 and is expected to last for six weeks.

The decision is to be announced in Spring 2009.

Delivered on target: Likely to go the final whistle, however the call-in has delayed the project by at least one season.

Likely or confirmed tenants: Tesco. Further retailers still to be confirmed.

Spin-offs: Over 2,000 new jobs will be created as a direct result of the proposed improvements, and in conjunction with Kirkby College, training and skills for locals will be developed. The development of a vibrant town centre is expected to attract further businesses to invest in the area and boost the local economy.

Likely to be affected by the current financial crisis? The future of the project undoubtedly rests on the outcome of the public inquiry.

Delays will inevitably lead to increased costs but Tesco, Everton FC and Knowsley Borough Council are all committed to the project. The project ignites strong views both for and against, as the issue regarding the benefits of the scheme for Kirkby is a complex one.

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Steve O’Connor, O’Connor Group

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David Parr, chief executive of Halton Council

The Mersey Gateway is a new bridge proposed to link Halton and south Merseyside with Warrington and Manchester, scheduled for completion in 2014 if it meets support during the ongoing public inquiry. Essential maintenance work will then commence on the Silver Jubilee Bridge in Runcorn and, to meet the costs of the scheme, both bridges will be tolled; sparking debate among road users and businesses in the north-west. We met Steve O’Connor, who heads up the O’Connor Group, which recently took responsibility for the Stobart division in Widnes, and David Parr, chief executive of Halton Council over breakfast in the Daresbury Park Hotel in Halton to discuss the plans, and the toll.

From Gridlock to Gateway The new bridge will cost £390 million; how can you justify that spending of public money in the current economic climate?

DP: I think that the bridge is absolutely critical at this point for regeneration of the Liverpool City Region. We would have to spend probably 20 to 30 million pounds to improve and maintain the Silver Jubilee over next few year. If that is closed, the cost to the economy is in terms of freight and people’s lives; not being able to move around and enjoy their leisure time.

38 MOVE COMMERCIAL

You can’t measure this bridge in pound notes; you have to measure the social and economic regeneration. It’s certainly more than just a bridge.

SOC: I got involved in the plans about five or six years ago. At the time there were about a thousand crossings a day with people coming to and from work, and with the freight vehicles. That number of crossings has increased over the years and, when we became involved with Stobart fifteen or sixteen months ago, our fleet

increased and there is now double the amount of vehicles.

DP: It amounts to 30 million vehicles movement across the Silver Jubilee each year when you add in freight movements and people moving around for work, school, and leisure, so the bridge is adding to the delay in people’s lives. What we’ll be doing is creating consistency of journey times, which is critical.

SOC: There’s a lot of freight in the north-west that’s hazardous, coming from the refineries and

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Critical paths Talking Point

chemical plants. The chemicals from Wirral can’t go through the Tunnel, so when that starts moving around the Liverpool City Region over the bridge there’s a lot of traffic.

The most difficult part is when you reach Thelwall, as any problems there make things worse for Runcorn. At the moment, it’s an inhibitor to business in the borough.

DP: If we were in London having this conversation, then in the same distance between Liverpool and Warrington we’d have in excess of twenty bridges or crossings. Here there are two; the tunnels and the Silver Jubilee. So when you look at the number of people that are moving across the river, we are very short of capacity and the one thing we’re anxious about is the ability of the road network to deal with current and future traffic numbers. When the Silver Jubilee is closed due to an accident, the whole of the north-west actually closes; vehicles can’t move. Being able to cross the Mersey is crucial to people’s lives.

Where’s the funding coming from?

SOC: There’s a government grant from the regional funding allocation for £86 million which will effectively meet the cost of acquiring the land and taking the plans to public inquiry. There’s a private finance initiative credit of £123 million and the rest is funded by toll revenue – that’s 77% of the total outlay. We have to do a value for money exercise, a cost benefit ratio, and it’s in excess of 1:4. That means for every £1 spent we get £4 back in terms of social and economic regeneration; that’s one of the highest ratios you’re likely to see for a transport scheme. It’ll bring thousands of jobs in construction and post construction and opportunities for new sites to be developed, new business to locate here, others to develop and thrive and it will ensure that the businesses we have are good quality jobs.

But the toll is surely going to be unpopular. We pay taxes; why should we pay a toll?

DP: We asked the government for a free-to-use bridge, and we were told it has to be tolled. The choice is a tolled bridge, or no new bridge.

The consequences of no new bridge are not worth contemplating for Halton or the LCR. That’s the realism we have to face. In France

and Germany it’s the norm to have a tolled bridge so we wouldn’t be having this discussion; it’s just that historically in this country roads have been free to use here.

SOC: We talk about a work-life balance and whether we want to sit for hours on the road, and this is value for money. It’s worth pointing out that I may not be absolutely pro the toll but I’m realistic enough to know that the most improved road infrastructure in the UK is all tolled, such as the M6 toll road. It’s the only reliable piece of infrastructure in the country. By 2012, 2013, all roads around cities will be tolled and we’ll see this happen even sooner in major cities. We’ll be paying a user charge as a freight industry, and possibly as conventional road users in Manchester and in Bristol, in the next few years.

DP: The difficulty is getting across to people that when you fill a car with petrol or diesel you’re not calculating how much you have wasted in a traffic jam. When you go over a toll it’s easier to calculate the payment thrown into a bucket; people underestimate the money they waste queueing to cross the Silver Jubilee, and what we need to do is explain the consequences of wasting time. For Steve, every minute his lorries aren’t moving on the road is a waste of money.

How will the new bridge impact on the environment?

DP: Most people would say a new road brings more carbon emissions.

The calculations we’ve done show that carbon emissions actually reduce. Nobody believes me when I say this. But vehicles which move freely omit lower amounts of carbon emissions than standing vehicles. That will enable us to manage the traffic movement to improve the environment.

SOC: The air quality on either side of the bridge, with idling vehicles, is very poor. There’s a general assumption that trucks are dirty and foul the environment, but some new figures we’ve produced have found that for every single Stobart vehicle that delivers into a supermarket, 250 cars take that product home. When you put that in perspective, you see the challenge we face.

Steve, why are you lending support to the bridge, with the costs involved?

SOC: We operate a road rail

“

It’ll bring thousands of jobs in construction and post construction and opportunities for new sites to be developed, new business to locate here, others to develop and thrive and it will ensure that the businesses we have are good quality jobs.

”

interchange in Widnes where currently we move nearly a hundred thousand containers a year from south ports into Halton by rail. Now those moves of freight by rail take around 30 million miles off UK roads. If we get to Widnes and then we have an inability to do the distribution in the last mile then effectively the journey of those vehicles becomes catastrophic. In one breath we’re desperate to get improvements for the bridge, and then we give the impression that it’s really not called for. It’s a bit like with football; we tell everyone there’s nothing wrong with the stadium although we’re desperate to get a new one. The question I want to ask is in terms of value, which is whether the borough or even the greater region can afford not to build the bridge. I think business would stagnate and it would be difficult to encourage inward investment, and we would miss opportunities in the northwest. If the freight takes to road because the customers aren’t satisfied with the rail road interchange then that could be very disappointing indeed.

DP: The ‘do nothing option’ is not an option. It’s going to change people’s lives in terms of people’s health and accessibility. We want to create opportunities for local people to gain employment. The bridge will create opportunities inside the borough and access to employment elsewhere; in Knowsley, Liverpool, Warrington and Manchester. At the moment congestion occurs from 7-9 am and 4 -6 pm. It used to run 8-9 am, and so therefore it’s extending. If we do nothing it will just grow until there is no gap. The Mersey Gateway provides this extra capacity.

SOC: There’s such nervousness everywhere at the moment about acting, due to the economic climate; it’s a fragile situation.

Will the credit crunch impact on the Mersey Gateway?

DP: The funding’s secure. The £86 million is there in the regional funding allocation.

SOC: It’s at least of regional and of national importance in taking freight off UK roads. Without the new bridge, 30 million miles could be forced back onto roads because of the problems at the road-rail interchange. People might think it’s a local bridge and a local agenda but it’s not. >> MOVE COMMERCIAL 39

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Critical paths Talking Point

DP: Our supporters include all the local authorities on Merseyside and, in business, Peel, Stobart, JLA, ABB; all major local players. They can’t all be wrong.

What will be the impact on the Mersey Tunnels?

DP: We have a very sophisticated traffic model, which tells us there will be no impact whatsoever on the tunnels, which will continue to run at the same level of movement.

The toll will be of a similar magnitude so there’s no financial incentive for anyone to move. In fact the tunnels may even benefit as we know that some people currently divert to use the Silver Jubilee as it’s free. Our calculations show 20 per cent of vehicles are movements within Halton, 20 per cent have their origin or destination in Halton and the rest, 60 per cent, are through vehicles which don’t stop in Halton. The Silver Jubilee was built and opened in 1961 for 6,000 vehicles a day; it now takes between 60 and 90 thousand. It was built with single lanes; we now have two narrow lanes in each direction, and a very difficult walkway on the outside, no cycleway and no bus priority.

It will be changed back to a single carriageway with a cycle track and walkway; it will become what it was designed for; a local bridge to carry local traffic. That will be for the people of Halton to move around in a much more environmentally friendly, and less intimidating manner. There are spectacular views from the bridge and it would be nice for cyclists and walkers to take advantage of those.

The Mersey Gateway will act as an expressway to move traffic through the borough for the benefit of the Liverpool City Region. The one thing that’s very important for the

“

The Mersey Gateway will act as an expressway to move traffic through the borough for the benefit of the Liverpool City Region.

”

John Lennon Airport is the consistency of journey time, which two crossings will bring. If you ask a driver what they want they’ll say that this is the most important factor; it’s fundamental. That’s why JLA has been a fabulous supporter of the Mersey Gateway. Robin Tudor and Neil Pakey have been very eloquent on the subject. The public inquiry will decide in March or April about the exact charge, but it will be not dissimilar to that of the tunnels. It’s about traffic management, and regulation of vehicles so they can all move.

Is this the right location? What about the Frodsham Marsh Line?

DP: It’s the right location. We reviewed five different routes and on all counts this came out top. For highway movement, environmental consequences, the impact on the Mersey estuary, and in terms of cost. We’ve done the studies; they’ll be tested at public inquiry, but this route delivers. In looking at the route you can’t just take one factor into account. The environment is critical; there will be an impact but it can be more than adequately mitigated. It’s at the heart of what we’re trying to do; a bridge to reduce carbon emissions. We’re putting a deck under the Mersey Gateway to take light rail, for a future proposal, and a walkway and cycle track, with bus priority on the Silver Jubilee. Elected members have determined that public transport will not pay a toll.

Is it premature to link this bridge to Liverpool’s projected success?

SOC: Peel has announced a £50 billion Ocean Gateway for the north-west. Put that in perspective with the cost of the bridge. The regeneration of Liverpool is not just happening this year.

DP: It’s just starting, and the

Mersey Gateway will act as a catalyst to continue that renaissance. With Capital of Culture people are working hard for a longstanding legacy. The Mersey Gateway will give people the opportunities over the next few years to see continued aspiration and ambition within a region which has historically, and in recent years, not been able to do that. The Mersey Gateway will help us to develop that. It’s part of the whole picture, and that’s why the major players are supporting it.

What’s the biggest challenge facing this project now?

DP:The biggest challenge is to convince the public that the ‘do nothing’ option is not an option.

To do that in language and data that is understandable; that’s the challenge for us.

SOC: We need to concentrate on the bigger picture and take a longer view on it; and make it easier to get to the match at the weekends.

THE MERSEY GATEWAY If the project meets approval from the public inquiry: • The Mersey Gateway will be completed by 2014 • The Silver Jubilee and the Mersey Gateway will be tolled at a level not dissimilar to the Mersey Tunnels • Frequent users will receive a discount for both bridges • The Silver Jubilee will become a local users’ bridge with access for pedestrians and cyclists • There will be no toll for public transport providers

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Sponsored by

Foresight into property’s future

MOVE COMMERCIAL’S third business breakfast was held in September at the Foresight Centre at Liverpool University, a setting which seemed aptly named for the topic of the day; the future of the city’s property market. Broadcaster and journalist Liam Fogarty welcomed and chaired the five-strong panel which included Peter Stoney, honorary senior fellow at Liverpool University’s Management School, Stuart Keppie, partner at Keppie Massie, David Morgan, partner at Halliwells, George Downing, chairman of Downing, and Paul Taylor, senior relationship director at Barclays northern property team. The debate’s 42 MOVE COMMERCIAL

theme: “Where is the property market heading?” caused much excitement among the panel. Liam commented that in recent months, the property market has seen a number of changes and a more cautious mood. The full room seemed to testify to the significance of the leading question, and a belief that there are answers.

Throughout the morning, which was sponsored by Halliwells LLP, the panel discussed the issues raised in great detail, before opening up the debate to members of the audience including commercial property developers, solicitors, investors and agents.

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Exchanging Views Breakfast Debate The Panel

Chair Liam Fogarty Journalist & broadcaster

George Downing Chairman, Downing Developments

David Morgan Partner, Halliwells

Peter Stoney Hon Senior Fellow, Liverpool University Management School

Paul Taylor Senior Relationship Director, Barclays Northern Property Team

The debate What is the current state of the commercial property marketplace?

To open the discussion, Liam began by pointing out how Keppie Massie topped the league table for commercial deals made in the last financial year. Stuart Keppie commented that figures for this year are yet to be released, but that the region seemed to be performing better than the national average.

The question was then raised of Liverpool’s ability to endure difficulties in the property sector better than other areas. Peter Stoney reported that his research group had found that the two largest macroeconomic problems are that interest rates remain too high, and that banks have been reigned in from lending to one another. David Morgan, from Halliwells, commented that Liverpool is not feeling the effects more than the national average: “We’ve been in Liverpool for three years, and it’s been the best decision the firm made. Our work is continuing to grow and buck the common trend; we just need confidence and stability in the marketplace.”

George Downing pointed out that the successful lettings at the Port of Liverpool building and The Capital show a good investment will not suffer: “Quality speaks for itself.

Don’t try to do too much at once. It’s now just liquidity that’s the problem.

We’re in a stronger position as we haven’t tried to grow as rapidly as some other developers.” Paul Taylor added that the city is tightening the purse strings: “We’ve had enquiries from developers when other banks have pulled out of loans and deals.

We’re seeing if we can take them forward.”

Will Liverpool’s future resurgence be affected?

With the current market holding up thus far, Liam remarked that Liverpool has seen a scale of development to rival any capital city.

The recent completion of Liverpool One with, at the time of the debate, the final opening to follow, and Peel’s plans to redevelop the waterfront

certainly stand out. However, do these developments show that Liverpool is continually on the up?

Peter replied: “Absolutely. We’ve shown we have the infrastructure to help profitability in the private sector.” On the topic of Liverpool’s plans to attract future investment, Stuart commented: “Liverpool One is more of a tourist destination than we realise, as well as a retail scheme. It differentiates us from Manchester, and the reflected glory boosts the business community. Grosvenor deserves huge credit as a massive amount of planning has taken place to integrate their proposals. A tram system would have helped, although that’s not on the agenda now.”

Liam then asked George whether he would be cutting back on staff or on developments. George responded: “We’re not in danger as we have produced good quality developments and not overstretched ourselves. No one could have foreseen how the shutters came down so quickly, and that’s been the case for some developers. It’s no particular business’s weakness necessarily, or Liverpool’s fault. We finished a regeneration development in 2008 and the price was right so that, over a decade, the investment will be made good. Perhaps though, across the city, there is too much space that’s unoccupied?”

Liam picked up on this to ask: “Are you worried that there are more unfinished residential and commercial schemes?” and David replied: “The problem at the moment is that the new developments are so similar to one another, and the older ones aren’t hugely exciting. We should always be asking ourselves, ‘Is this an exciting offer?’ A bigger apartment, rather than one or two bedrooms, would bring families in to the city centre; we should be refocusing to see what should be provided.” Paul agreed that much of the residential development in the city centre had been investor-led: “The only available option now is to let these apartments, which is a viable solution, and take-up has been good.”

What are our obstacles, and what are the options?

Kevin Lee, partner at Halliwells, interjected: “What will replace the residential element in mixed-use schemes, now that the housing market dictates that further residential development is a nonstarter?”

George held strong opinions on this topic: “In Europe, families live together in apartments, and can get mortgages on their homes while they’re being developed. We’ve got the problem here now that banks won’t lend to developers unless they can guarantee pre-sales; no one has the finance. Occupiers should be getting the mortgages and driving the schemes, as in any European city, but the lending restrictions are stumping new developments. Having said that, tourism in Liverpool is a new phenomenon and can raise our profile. Investment will come in through tourism and conferences, and transport links will become very important as business tourism increases.”

How is legislation affecting the market?

Liam raised a separate issue, asking if empty rates tax is proving to be a new obstacle to development. He was supported by Stuart who said: “What can the ending of the relief achieve? It discourages speculative building and, in some cases, encourages demolition. By reducing stock, we’re not achieving increased revenue, and the government needs to do a U-turn on this.” Liam quipped that if people began to take off the roofs from buildings, as has been done in the past, we may see increased investment in tarpaulin.

David commented: “The impact for developers with unoccupied space cannot be underestimated. This has just been an easy way for the government to increase revenue.”

Peter commented: “Labour has completely misunderstood the market, and made a serious error.”

The feeling in the room seemed very much in agreement that empty rates tax was not a welcome development MOVE COMMERCIAL 43

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for the property industry. George commented that it would be better to cost the general taxpayer than to cause unemployment, especially among the larger employers. He welcomed cutting red tape on planning permission and Stuart seconded this as positive legislation, before commenting again on empty rates tax: “For the government, this is just another tax, but they need to orchestrate and regulate development. Liverpool is evolving, but we need structure on the infrastructure and transport systems.”

What are the opportunities in the current marketplace?

David stated his belief in the legacy of Capital of Culture: “Liverpool is playing ‘catch up’ to an extent. The test of this year is not in the cultural events but in the impact later on; when people are choosing to live and work here. We have enough expertise and entrepreneurship here, and it’s so different to how it was 10 years ago.”

Liam asked the panel and the audience to raise their hands if they felt optimistic about the future; and the mood seemed not as dismal as many may have feared. Stuart reinforced the opportunity to attract inward investment. Liam asked Peter, of whom he jokingly remarked ‘optimism is not your strong point’, how he saw the city’s prospects in the long term. Peter replied by stressing the need for a better education of the city’s young people, and George commented that to keep the city moving needs a good workforce, and a strong transport system; a point upon which all of the panel members seemed in agreement. Peter continued: “We need to nurture private sector developers. Peel should be actively encouraged by the city council, not discouraged, and we hope that attitude will change. Liam then asked: ‘Is Liverpool business friendly?’ to which David remarked that the city tends to talk down its prospects and opportunities. Paul interjected: “It’s going to be interesting over the next 18 months.” George commented: “There are lots of opportunities to develop in the marketplace with good quality buildings and cheaper sites. The jobs and momentum at Liverpool One will keep us going and there will be more and more opportunities.

44 MOVE COMMERCIAL

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Questions from the floor asked for Peter to comment on what he sees happening to inflation. Peter replied: “We’re feeling the effects of inflation globally. China and India have taken steps to reduce this. Oil prices should come down. It’s all about timing, but the problem of changing inflation targets is people’s expectations.

We need to treat the issue more sensibly, and should see a trend towards more regulations.” As the meeting drew to a close, it was felt that some issues would be best left to another debate, as were suggestions from Jeff Porter from Move Publishing, on how to ‘oil the engine of the economy’. Indeed, that’s all fodder for a future Move Commercial business breakfast.

1 1. Alex McCann, Halliwells

2 2. Who’s feeling optimistic about the future?

4

3 3. Peter Stoney makes his point

5

4. George Downing and Peter Stoney

5. Paul Taylor, Barclays, holds his audience

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Exchanging Views Breakfast Debate

“We’ve been in Liverpool for three years, and it’s been the best decision the firm made.”

David Morgan, Halliwells

Sponsored by

6

7 6. David Morgan, Halliwells

7. Liam Fogarty chairs the debate

9

9. Stuart Keppie, Keppie Massie

8

8. The panel members share a joke

10

10. Kevin Lee, partner at Halliwells, poses a question for the panel

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ADVERTISEMENT

Chris Harmer specialises in advising commercial landlords and tenants in relation to property and contract disputes

CHRIS HARMER

Failure to Pay During these difficult and challenging economic times the prospect of a tenant failing to pay rent to the landlord is a commercial reality; failure to pay can, of course, impact greatly on the landlord’s own finances and cash flow. Landlords therefore become immediately concerned when a tenant fails to pay rent on the due date. However, there are a number of options available for landlords to pursue rent arrears, and legal advice should be taken in respect of the most appropriate strategy to adopt.

One of the most frequent methods used is that of the landlord’s right of destraint. This is the ability to seize goods to the value of the rent arrears, and through this approach the landlord can either sell the goods seized, or the tenant can buy them back by paying the arrears of rent. However, under new legislation which has been enacted, but not yet brought into force, the right of the landlord to destrain will be abolished. The procedure to recover rent arrears by seizing goods has been formalised under the Commercial Rent Arrears Recovery (“CRAR”) under the Tribunal and Court Enforcement Act 2007. Under this new regime, the landlord can no longer simply attend the premises and seize goods to the value of the debt of the rent arrears. Under the CRAR system, the landlord will have to serve a notice prior to any seizure of goods. The landlord will have to serve an appropriate notice on the tenant (albeit that at this moment in time the full details of the information to be contained in this notice have not yet been finalised). The rent which can be recoverable under this system does not include Council Tax, rates, service charges, repairs, maintenance, insurance or other ancillary matters whether or not described as rent in the lease.

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Once the notice has been served, the tenant will have the ability to contest the validity of this notice by issuing Court proceedings. If the notice is not complied with, or disputed, then further action to sell the goods can be taken.

Therefore with this amendment the landlord will lose the element of surprise over the tenant when exercising the right to take control of goods to the value of the outstanding rent arrears. Whilst the new regulations have yet been finalised it is difficult to give a full indication of the likely impact and changes, however these new procedures will impact on both landlords and tenants.

For further information please contact Chris on

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46 MOVE COMMERCIAL

Taking over the reins of a mammoth work in progress is both a daunting and exciting challenge. Approaching it in a newly appointed senior management role must only intensify the experience. An eternal optimist, St. Modwen’s Paul Batho is just the man to carry out the job of regenerating Great Homer Street.

The great resurrection INSPIRED BY a bishop and delivered by a saint, some would say plans for Great Homer Street’s regeneration were as safe as houses, but 'Project Jennifer' has not been without its problems.

After Tesco failed to sign up as anchor tenant, following years of negotiations, there was speculation the £150m scheme was in jeopardy, but regeneration specialists, St. Modwen, quickly refuted these claims by announcing they were in advanced negotiations with another leading supermarket chain.

In February 2004 St. Modwen Properties was selected as preferred developer to work in partnership with Liverpool City Council to 'bring forward transformational change' to the once thriving area of North Liverpool; an ambition of Father Tom Williams (now bishop) back in 2000.

The regeneration specialists have ambitious plans to help the local community 'achieve its social and economic potential and put the heart back into the area.'

Great Homer Street's knight in shining armour is Paul Batho, senior development manager at St. Modwen and the man tasked with resuscitating the district centre in Everton. Batho, 39, cemented his worth after negotiating the letting of the UK headquarters for Adidas at Trafford Park. In terms of commercial success, the deal was a coup for Batho but it is the human element to his current undertaking that stirs him: “It brings in all elements of regeneration, it's not just a commercial deal, there's a community involved. And what I've found in Liverpool is that the community really want to participate. In other parts of the country people can be a bit more passive but Liverpudlians seem to be very well organised and have a real desire for their voice to be heard. To have that inside track is invaluable and fortunately for us it's there, in abundance.”

Batho was promoted to senior development manager at the start of the year, just under seven years after starting his role within the company on the fateful

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Paul Batho Rising Stars September 11 back in 2001.

Originally from Sheffield, it was marriage that brought Batho to the north-west, more specifically Stockport, where he is now settled with his wife and two young children.

The uncertainty of the current market is familiar territory to Batho, who graduated with a degree in Estate Management from Northumbria University into a fairly poor market in the middle of the nineties. However, it is his natural positivity which helps Batho see such an environment as a test rather than an obstruction: “I'm by nature an optimist, which always helps in these types of projects as they go through a number of challenges. At the time some of them can seem insurmountable but as long as you have a robust masterplan, able to deliver the needs of the community, and you know the scheme is financially viable, you will overcome them.”

It was St. Modwen's lateral vision that helped the developer win the competition to regenerate Great Homer Street as Batho explains: “Michelle Taylor, one of our regional directors, visited the site and very quickly realised that just knocking up a food store was not going to do any good and wasn't going to act as the catalyst that was needed. So our proposal went way beyond that. I believe by the time this project is complete, it will be a great case study of how the public and private sectors can come together through thick and thin and make a scheme happen.

And by not taking quick fixes and easy routes out at crunch times, it will be a great example for other schemes to be based on.”

He adds: “The scheme has been very carefully designed so it's not just about the food store, because there'll be around 100,000 sq ft of other retailers. But in turn it's not just about shopping, there'll be bars and restaurants, 500 new homes, a new Primary Care Trust centre, a relocation of the existing library and massive improvements to the public realm.

However, Batho acknowledges the importance of the anchor tenant in a regeneration scheme on this level: “It is absolutely fundamental to the scheme and the reason for that is financially, they're a big driver. Tesco failing to sign was a big disappointment for us. But we're now happily very close to signing with an alternative

operator. They're a top drawer, nationally recognised, ‘Premiership’, if not ‘Champions League’ food store operator.

“These schemes need to have financial drivers and clearly a very large food retailer will be a huge draw. It'll be the biggest in Liverpool, situated on one of the main arterial routes, Scotland Road, so this thing is going to trade its socks off.”

But footfall is not the only consideration affecting the success of this venture. With the established and treasured ‘Paddy’s market’ acting as the regular pulse to the community, St. Modwen’s specialism in town centre regeneration will provide invaluable experience when it comes to managing the needs of the community.

Batho is far from naïve about the responsibilities taken on by his company when they embarked on this ambitious scheme: “People,

including myself, are always suspicious and nervous of change because it’s human nature. But what we’re doing here is going to be a massive improvement on the existing situation. And that’s a basic rule with developments like this; if you’re going to interfere with someone’s business, or livelihood, quite simply you’ve got to put them in a better position than they were before you started.”

With compulsory purchase orders the next step for Great Homer Street after the anchor tenant is secured, Batho’s rule becomes particularly relevant. Yet he is confident St. Modwen have taken sufficient steps to ensure noone is left disappointed by the scheme: “We’ve spent around £8 million last year acquiring four industrial estates in Merseyside, aimed at initially supporting this scheme and giving us the opportunity to relocate industrial

occupiers who are likely to be affected.”

Due to the initial problems facing St. Modwen in securing an anchor tenant, construction at Great Homer Street has inevitably been delayed and the intended start date on site has now been put back to 2010, but Batho remains optimistic: “Liverpool is getting some great feathers in its cap at the moment and this will be another one. Liverpool City Council has been working very closely with us to ensure nobody is left disappointed by the scheme.

We find that we tend to work very well with local authorities because we listen and we don’t try to impose our agenda upon them.

“There’s already been some great work on site and new homes have been provided already, so our work will take that and carry it forward to set this entire area up for what I hope will be a great renaissance of north Liverpool.”

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Key events Edward Symmons 25th celebrations

First Tenants at Landmark Site

By Lucy Oliver lucy@movepublishing.co.uk

1

1. Vicky Swanick and Jonathan Robinson, Edward Symmons

EDWARD SYMMONS celebrated 25 years in Liverpool with its move into St Paul’s Square, becoming one of the first tenants in the new development. Drinks flowed and staff and guests enjoyed canapés in the grade A office space, where they will occupy 2,500 sq ft on the ground floor on a 10 year lease.

2

3

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2. Richard Corby, Edward Symmons, and Richard Stanton, UK Car Group 3. Stephen Tyrer and Mark Giardelli, McGoff and Vickers and Alan Cooper, Edward Symmons 4. Lesley Martin-Wright, JST Lawyers, with Norman Jones, Mace & Jones, Charles Hurst, Coulter Hurst, and Colin Jennings, Edward Symmons

5

6

7

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5. Karen Neald, Weightmans, Michael Griffiths, Edward Symmons, and Angela Penn, Weightmans 6. Jenny Porter and Jane Gunnion, Rees-Roberts Solicitors 7. Ian Wilby, Barclays, Clive Plummer, Mitchell Charlesworth, with Alex McCann and Tony McDonnall, Halliwells 8. Alastair Johnson and Abby Dry, Hill Dickinson

9

10

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9. Louisa Brown, Brett Henshaw and Alex Napper, Edward Symmons 10. Paul Williams, Williams Independent, Gary Gardner, GB Finance, and Robert Diggle, Edward Symmons 11. Elwyn Edwards, Hill Dickinson and Janice Weatherly, Mace and Jones 12. Paul Proctor, Edward Symmons, and Andrew Davies, Hill Dickinson 48 MOVE COMMERCIAL

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Changing hands Deals

Latest deals Property: Chester Gates Industrial Estate Leased by: Kenmore (CBRE, Legat Owen) To whom: CPM Wolverine Purpose: Letting Space: 50,000 sq ft For how long: 15 years For how much: £3.75 per sq ft

Big deals W

Property: 22 Caddick Road, Knowsley Sold by: Hills Plc (Mason Owen) Bought by: Paul Blennerhassett Purpose: Disposal Space: 3,182 sq ft For how much: £250,000 Property: Former Sports World unit, Paradise Street, Liverpool Leased by: Sports World To whom: Deichmann Shoes Purpose: Letting Space: 10,290 sq ft For how long: 15 years For how much: £203,000 per annum Property: Units 8 and 9, Gemini Park, Europa Boulevard, Warrington Leased by: Downham Properties Ltd (King Sturge) To whom: Signature Doors (unrepresented) Purpose: Letting Space: 10,375 sq ft For how long: 5 years For how much: £6.25 per sq ft Property: 20 Matchworks Phase II, Garston Leased by: Urban Splash Work Limited (Mason Owen) To whom: Five Children Families Trust Purpose: Letting Space: 3,513 sq ft For how long: 6 years For how much: £22,767 per annum Property: Hattersley House, Burscough Road, Ormskirk Leased by: Bracken Developments (King Sturge) To whom: New Image TV (unrepresented) Purpose: Letting Space: 1,070 sq ft For how long: 2 years For how much: £12.75 per sq ft

“We’re proud to welcome one of Liverpool’s premier cultural organisations to the Downing portfolio.”

What’s the deal?

Downing has let a suite in Federation House on Hope Street to the Royal Liverpool Philharmonic.

What’s the purpose?

The building will accommodate some of the Phil’s management and administration teams.

What’s the background?

Federation House has undergone a recent refurbishment as part of a £40 million investment programme, which Downing is progressing across its 1 million sq ft portfolio.

Who’s behind the deal?

The Royal Liverpool Philharmonic’s home is in Liverpool Philharmonic Hall, adjacent to Federation House, and opened in 1849. Sue Harrison, the Phil’s interim chief executive, said: “We are pleased to have found a solution to our space requirements so close to Philharmonic Hall, which provides our staff with good quality office accommodation, and minimum disruption to the delivery of our extensive programme of concerts and events, and learning and engagements activities.”

Who secured the deal?

Downing is Liverpool’s largest private commercial landlord and owns some of the city’s most iconic buildings including the Grade II listed Port of Liverpool Building and The Capital. Peter Keppie, commercial surveyor at Downing, said: “We’re proud to welcome one of Liverpool’s premier cultural organisations to the Downing portfolio. Our commercial properties have performed excellently over 2008 and the fact that Federation House is fully let is further proof of the power of high quality refurbishments to attract prestigious tenants.”

Peter Keppie Downing

W

“We are delighted to have secured Rob Gutmann's latest concept into Liverpool One, and are confident that he will bring something new and totally unique to The Terrace."

What’s the deal?

Korova Corporation have let 7,332 sq ft on The Terrace at the Liverpool One complex in Liverpool City Centre.

What’s the purpose?

The group will be opening a new American-themed diner, adding to its portfolio of leisure venues dotted around the city.

What’s the background?

The award-winning leisure company is behind some of the most exclusive and stylish restaurants and bars in the north-west such as Geisha, Circo and Babycream.

Who’s behind the deal?

The bars and restaurants he has frequented on his travels usually influence ventures undertaken by Rob Gutmann, CEO of Korova Corporation. Rob said: "I'm delighted to be involving Korova Group in Liverpool One. People have come to respect that we don't settle for the ordinary in the bars and restaurants we produce, and we feel that Liverpool One is no mainstream shopping development.

Who secured the deal?

Tushingham Moore represented Grosvenor for the deal. Dan Davies, partner at Tushingham Moore, said: “We are delighted to have secured Rob Gutmann's latest concept into Liverpool One, and are confident that he will bring something new and totally unique to The Terrace."

Dan Davies Tushingham Moore MOVE COMMERCIAL 49

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Appointments Career Appointments Karl Kiernan David Currie & Co

Karl Kiernan

David Currie & Co property consultants have recruited Karl Kiernan as a senior agency surveyor. Karl spent four years previously at Knight Frank mainly concentrating on industrial and office agency, and his expertise will be drawn on to grow the company with further instructions. He’ll be dealing with all aspects of commercial agency to include industrial, office, retail, development and investment. Karl will also act on some disposals of residential investments on behalf of insolvency practices. He joins the team who act on behalf of a number of high profile receivers, which they will continue to focus upon. Karl commented: “In the current market there will be a continual rise in the number of distressed sales and I’m looking forward to the challenge of working in a practice specialising in such a discipline. Our other aim is also to seek work in traditional occupational agency sectors.”

Russell Hefferan DTZ International property adviser, DTZ, has announced the promotion of Russell Hefferan to associate director. Russell Hefferan undertakes valuations for secured lending purposes, covering the main sectors of commercial property throughout the north-west. In addition, Russell undertakes regular portfolio valuation work for a range of institutional funds and provides expert evidence reports for

Russell Hefferan

litigation advice. Russell’s experience includes regular valuations of the Mall Shopping Centre in Chester, the freehold interest of Cheshire Oaks retail, leisure and office parks, the Tithebarn Development in Preston as well as prime retail and office investments in Manchester, Chester, Liverpool and Preston.

Mike Mitchell, northern region chairman at DTZ, commented: “This promotion is well deserved and demonstrate DTZ’s commitment to recognising work with clients. We are committed to growing the business even during the current economic downturn.”

Agency Appointments Arrowe Commercial Park Smith & Sons Merseyside agents Smith & Sons have announced their appointment on Arrowe Commercial Park in Upton. The 81,065 sq ft site consists of 21 modern units in sizes ranging from 1,936 to 81,065 sq ft. The business units contain toilets, kitchen facilities, roller shutters and parking space for over 170 cars with some units including reception space and offices.

These buildings are suited to trade, factory or warehouse space.

Lancaster House Knight Frank The letting space of the ground floor offices at Lancaster house in the city has been handed over to Knight Frank to market on behalf of Network Rail. The 9,670 sq ft offices are located within Mercury Court on Tithebarn Street, and have been refurbished to provide a modern, open plan layout with cellular office space.

Exchange Flags Knight Frank Knight Frank has now replaced Cheetham & Mortimer as agents for the leisure units at UK Land & Property and Pochin’s Exchange Flags in the city centre.

The move comes after the acquisition, earlier this year of retail/leisure agency Markham Vaughan Gillingham by Knight Frank. There are a dozen leisure spaces available ranging from 500 to 10,000 sq ft. Coffee Republic recently became the first leisure tenant to sign at the major office-led refurbishment since UK Land/Pochin took up the assets from Bill Davies.

OFFICE TO LET 36 HENRY STREET, ROPE WALKS, LIVERPOOL 1

• • Self • Character

1,200 sq ft (111.5 sq m)

contained suite with disabled access building with exposed beams and brickwork

• Short

term and all inclusive terms available CONTACT Tony Reed or Andrew Byrne Keppie Massie on 0151 255 0755

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Barry Pearson Director

In the spotlight Barry Pearson is director of GB Finance Group in Liverpool, responsible for delivering creative finance solutions to clients across the commercial property sector. He has over twenty years experience in the field, and has a major role in structuring the firm’s portfolio of joint ventures with clients.

What led you to this senior role?

I am incredibly lucky, since my job now involves me living my childhood ambition. I grew up in a very entrepreneurial environment, my father has always been self-employed, and I always wanted to build and manage my own business. I have always been a strong self-starter and I set up the Royal Bank of Scotland’s property team as head of property finance for the north-west and Wales. I resigned from my position as regional business development director in May 2006 to become a director/shareholder in GB Finance Group plc. The opportunity came about after I helped Gary Gardner structure his own funding lines for his business, which was then called Gardner Baker, whilst I was still at RBS. We worked together for several months on this project, and it soon became apparent that we had a great deal in common, including a strong work ethic and high business morals. As our conversations developed then so did the “blue print” for what is now GB Finance Group plc.

What does your role consist of from day to day?

My role changes from day to day depending upon my clients’ requirements and GB’s needs. I am constantly on the look out for new products and sources of cash and

investment from hedge funders and corporate institutions, both in and outside the UK. Furthermore, I take a major role in structuring and managing our portfolio of joint ventures with clients. The current issues in the financial and banking market place have presented a new set of challenges, but they have also brought about some very exciting opportunities.

Where do GB Finance's specialisms lie?

At GB, our role is to use all of our combined skills and knowledge to structure and source financial solutions for all types of property transactions on behalf of our clients.

This ranges from simply brokering a product for a client to setting up a joint venture, when we use our own cash and skill base to compliment our client’s own business and/or transaction. At GB we combine these skills with the fact that we are totally independent and so can use this experience and skill base to source and structure solutions from the whole of the market place on behalf of our clients. Given that we work for our clients then our only limitations are the financial market place.

What are GB Finance's plans for the north-west?

We have already achieved a lot at GB in

such a short period of time. We have recruited a skilled multi-disciplined team from the construction, accountancy, investment and banking sector plus we have secured our own funding lines. With this key platform in place, GB is now serving a good client base and have already put in place a number of joint venture companies which is a strategy that we now want to develop. We’re looking at a number of key opportunities at present which will involve acquisitions and/or setting up further joint ventures with other established operators so that we can spread the operational base of GB into other key strategic sectors which we believe will complement existing core products and services.

What excites you most about your role?

The autonomy. I had a key regional role for one of the largest banks in the world within the commercial sector where I was regional director of business development and head of property finance. I really enjoyed it but, as with many large organisations, they are in place to deliver standard “on the shelf” solutions. At GB we are not restricted to one range of products and can be totally creative.

What are the worst and best things about your job?

The worst things; not being able to

complete a deal and having to advise a client that we cannot progress a transaction usually due to factors outside our control. I hate disappointing people but given the current property price correction some transactions are now no longer viable.

The best thing about my job is definitely the variety; although I have been in the banking sector for over 21 years, each day presents different challenges, and I am constantly learning new things. I love solving people’s problems and I get a real kick from formulating and structuring solutions. The other key thing is the people; I have a fantastic team of people working with me.

How would your colleagues describe you?

Dedicated, highly experienced, approachable, supportive and fun plus a good drinker!

How do you like to unwind in your free time?

I’m naturally a very sociable team person, having played rugby for the majority of my life, but I had to retire about five years ago due to an injury.

Since then I have taken up kickboxing, and I really enjoy the gym. I find that I need some form of highenergy relief to help manage stress; otherwise I would probably just drink heavily!

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Whispers Despite the current economic climate commercial property agents are, as ever, mixing and mingling at events.

It’s a tough job keeping up but ultimately worth the effort when provided with the perfect fodder for our Whispers column.

Whispers was left wondering to what extent event organisers consider their attendees before booking celebrity guests, after the recent faux pas at Langtree’s Mere Grange launch. It was possibly due to the fact that the invited agents were all Manchester and Liverpool based that they were oblivious to the star quality on offer, in the form of St Helens players Paul Wellens and Jon Wilkin.

At the recent Your Move Property Awards, guests were told to be extra vigilant after a pickpocket was spotted in the midst.

Others, however, didn’t seem too concerned at the prospect!

As we approach the end of 2008 thoughts inevitably turn to the past year’s achievements.

Nominations are already in for

Deal of the Year. One put forward by Liverpool’s leading agency (according to EGi Deals’ database) was apparently struck in-house. It involved an out of date bottle of Pernot and £5 – say no more!

The credit crunch is the only thing team DTZ are biting their teeth into lately after it was reported that biscuits were banned, to cut costs, during a recent meeting to discuss the economic crisis.

COMMERCE PARK, BIRKENHEAD • Industrial and trade counter units from 600 sqft to 25,000 sqft • Highly prominent position along A41 • Newly completed trade scheme • Popular trade and commercial location Gladstone House Union Court, Liverpool, L2 4UQ W: www.masonowen.com E: liverpool@masonowen.com T: 0151 242 3000 F: 0151 236 2569

North West Energy Solutions Surely times aren’t so tough that guests at business breakfasts need to bring their own chairs to sit on? With Bob Prattey as speaker, it was said to be a case of ‘standing room only’ at the Barclays Commercial sponsored event, but Whispers isn’t convinced.

COMMERCIAL EPCs From 1st October 2008 all commercial buildings over 50sq metre will require a commercial EPC. Contact us straight away and help you work within Energy Performance of Building Directives.

NEW BUILD EPCS & HIPs Properties that are marketed from the plan alone will require a predicted energy Assessment. West Coast Hips can provide PEAs straight away.

Call us today on 0845 112 0035 North West Energy Solutions is a part of West Coast Hips Company

For more information contact us on

0845 112 0035 07853 551066

email: support@westcoasthips.eu 54 MOVE COMMERCIAL

web: www.hipacks.net

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big

on support

If you are considering relocation for your business, or expanding your company, Wirral offers accessible, user-friendly information that saves you time and enables faster, better informed decision-making.

You will find specialist advice and assistance from finding sites and development partners, through to recruiting and training quality staff and developing new supply chains.

A full package of location advice and business support is available designed to give your company a competitive advantage.

For more information and advice about investing in Wirral

Call 0151 650 6915 Visit www.investwirral.com

417JUN08PJ

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