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LIVERPOOL CITY REGION CHESTER MANCHESTER
Jan–Feb 2010
MOVE COMMERCIAL The north-west’s guide to property and business
Issue 16
THE YEAR AHEAD Property predictions for 2010 FULL CIRCLE Big wheels boost regional economy ENTERPRISE ONLINE Mike Welch interview
Liverpool Airport Business Centre
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TO LET - FLEXIBLE OFFICE/STUDIO SPACE
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MOVE COMMERCIAL
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Unit to let / for sale 33,500 sq ft with 8,500 sq ft of offices
Wellington Employment Park South
Dunes Way (off Sandhills Lane), Liverpool, L5 9RJ • Good accessibility close to M62 and North west • Located in the North Liverpool Docks area • On site parking
To find out more about this site visit www.langtreegroupplc.co.uk/ wellingtonemploymentparksouth
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Switch House Dunnings Bridge Road, Liverpool L30 7PT
TO LET Grade A ofямБces from 3,360sqft to 6,794sqft
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MOVE COMMERCIAL
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Issue sixteen Move Commercial
Contents News
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Welcome to Move Commercial Welcome to the first edition of Move Commercial at the beginning of 2010, and a new decade of property development in the north-west. We’ve consulted experts on the ground for their predictions for the regional market in the year ahead, and in our Founding Building feature we look forward to Liverpool’s George Henry Lee building’s new lease of life in the city. Drawing inward investment and boosting tourism has become a regional ambition and, inspired by the newly installed observational wheel at Liverpool One and proposals for a second wheel in Manchester, we compiled the vital
statistics of wheels regionally, in London, and overseas. Grosvenor’s Rising Star Guy Butler spoke to us about a successful year and the developer’s plans in Liverpool for the year ahead. St Modwen’s regional director and Mover and Shaker, Michelle Taylor discussed the firm’s plans for Project Jennifer in north Liverpool and Skelmersdale, and how they’ll be moving forwards this year. At a variety of events, including our sister publication Your Move’s annual awards, we mingled with property professionals from across the region to celebrate the achievements of the past decade and to look forwards to the new, and we wish our readers a successful and prosperous New Year.
08 Liverpool’s largest letting 09 Wirral Waters awaits planners’ decision 11 Boutique hotel approved for Liverpool 12 North-west theatres sold 13 Liverpool heritage building attracts tenants 15 Investment in Bromborough 16 Salford attracts media tenants 17 Warrington’s biggest deal in 2009 19 Liverpool landmark transformed 21 Project Jennifer continues apace
Features 24 Entrepreneur Mike Welch’s empire 26 Appointments 28 Rising Star Guy Butler on Grosvenor’s Liverpool plans 30 Mover and Shaker St Modwen’s Michelle Taylor on regional regeneration 32 Feature How will the market shape up this year? 34 Founding Building Liverpool’s historic George Henry Lee building 40 Focus Rounding up tourists in the region 43 Ask the panel Our panel’s predictions for 2010 46 In the Spotlight Neil Waddington of Prospect GB
Key Events
12 LIVERPOOL CITY REGION CHESTER MANCHESTER
Jan–Feb 2010
MOVE COMMERCIAL The north-west’s guide to property and business
Issue 16
16
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move publishing ltd Advertising Director Fiona Barnet Tel 0151 709 3871 Account Manager Jo Tait Tel 0151 709 3871 Editorial Team Lucy Oliver and Jonathan Kearney Email post@movepublishing.co.uk Tel 0151 709 3871 Picture Researcher Frances Gill Email frances@movepublishing.co.uk Published by Move Publishing Ltd Directors David O’Brien, Kim O’Brien, Fiona Barnet
Designer Rob Whyte Email rob@movepublishing.co.uk Production The Design Foundry 36 Henry Street, Liverpool L1 5BS. Tel 0151 709 1633 Printed by Precision Colour Printers Ltd Distribution Liaison Manager Barbara Troughton Tel 0151 733 5492 Mobile 077148 14662
THE YEAR AHEAD Property predictions for 2010 FULL CIRCLE Big wheels boost regional economy ENTERPRISE ONLINE Mike Welch interview
Liverpool Airport Business Centre
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.
10 Spencer Holdings’s breakfast launch Launch of key site to agents 18 Core Cities Summit in Liverpool Visions for Britain’s infrastructure 22 Your Move Property Awards Achievements celebrated at the Hilton 36 Bruntwood and Halliwells’ Christmas party Festive drinks at The Plaza 38 Royal Liver Atrium’s sparkling relaunch Royal Liver Group celebrates refurbishment 44 Merseyside Property Forum Christmas lunch Property networkers look ahead to 2010 MOVE COMMERCIAL
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News Move Commercial
New facility for LJMU CGI of how the Central Village development will look
Work scheduled for £37.6m site
CGI of Liverpool John Moores University’s new building
The Capital interior
Largest office letting in the city’s history New tenants for The Capital THE CAPITAL, owned by property group Downing, has secured a letting of 220,000 sq ft to the UK Border Agency. Over 200 staff will relocate to the new premises, which recently benefited from a £15million refurbishment. George Downing, chairman of Downing, commented: “At 220,000 sq ft, this is the largest office letting in Liverpool’s history and is a clear endorsement of the quality of our building, its location, and the enduring appeal of Liverpool as a place to work and live. “Over the past three years, we have 8
MOVE COMMERCIAL
invested heavily in the fabric of The Capital, transforming its interior into the kind of contemporary, intelligent space befitting a cosmopolitan business hub.” He added: “We trust that the UKBA’s workforce will enjoy the building’s refashioned interior, new facilities and find The Capital a great place to work.” Halliwells acted for Downing. Partner Kevin Lee said: “Halliwells is absolutely delighted to have represented Liverpool’s largest commercial property group on the biggest deal in Liverpool’s history. It is a testament to George Downing
and the Downing Group, Halliwells and the city of Liverpool.” Stuart Keppie of Keppie Massie, joint agents on the property with GVA Grimley, commented: “This letting is set to have a substantial impact on the central business district in Liverpool. We’re delighted to see such a large amount of space occupied in The Capital which not only provides a big boost to the city in terms of regeneration but diminishes the amount of available office stock in Liverpool, and may provide opportunities or encouragement for further office take up.”
LIVERPOOL JMU is to progress with plans to build a £37.6m building as part of its Mount Pleasant campus. Bordering both Clarence Street and Brownlow Hill, the new 124,000 sq ft facility will be twice the size of the university’s existing Clarence Street tower, which will be demolished to make way for the new structure. Housing the Faculty of Business and Law, the Screen School and the University’s new Professional Centre, the six-storey building will make up part of the city’s Knowledge Quarter. The building, designed by ADP Architects, will feature three large lecture theatres with all room layouts flexibly designed to ensure they can be adapted for potential future changes. In addition the industrystandard equipment and facilities used by LJMU’s Screen School, including four TV studios, four newsrooms, two radio studios, four IT labs and two post-production suites, will be housed in the building. ViceChancellor Professor Michael Brown commented: “This is a significant investment which will further boost LJMU’s reputation as a provider of high quality education and a leader in knowledge transfer. Not only do we want to build upon the University’s already excellent reputation by creating facilities that inspire and motivate all who use them, but we also strive to advance the renewal and regeneration of Liverpool by driving up its competitiveness and making the city a more attractive place.” Work on the new building is expected to start in spring 2010.
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Move Commercial News
Peel float grand plans 1.4m sq m development proposed for Wirral PEEL has submitted the largest planning application in the UK for its Wirral Waters scheme. The proposals relate to the East Float section of the £4.5bn project. East Float consists of 1.4million sq m of mixed use floor space which is hoped will support over 20,000 jobs in a broad range of commercial sectors. It will also include a diverse mix of over 13,000 new homes, plus leisure and culture facilities. It is expected to provide over 4,000 construction jobs over the life of the entire scheme. Lindsey Ashworth, development director at Peel, commented: “This has been a massive, difficult and complex but exciting journey bringing this project together over the last three years to the point of submitting a
planning application. We are in very difficult times and these projects take some resourcing in terms of staff time and finance but it has been worth the effort and expense. It is Peel’s belief that Birkenhead Docks has huge potential in so many ways and Wirral Waters together with Liverpool Waters will completely transform the way the western end of the northwest goes about its business. It will redress the imbalance of the region and create what I would describe as a new super region that will further strengthen this as a destination for international business and as a place to live.” Peel hope the application will be heard at a Wirral Borough Council Planning Committee in the spring.
The proposed Wirral Waters scheme
Lets Go-Go Final unit let at Bold Street development MEREPARK has let the final unit in its 9 – 19 Bold Street development. Commercial interiors company Team a Go-Go has signed a ten-year lease to occupy an 8,000 sq ft refurbished suite, comprising the entire third floor of the property. The lettings follow a £4m investment by Merepark to refurbish a number of
retail units on Bold Street, which will act as the gateway to its £200m Central Village scheme. Neal Hunter, associate director of Merepark, commented: “The diversity of tenants we have welcomed to 9 – 19 reflects Bold Street’s distinct character and varied retail offering and our investment should play a key part
in safeguarding its future. The complete letting of 9 – 19 is an important step in the development of Central Village and the speed in which we have let the building is testament to the quality of the refurbishment and the product we are offering.” Space is still available in the adjacent property, 21 – 25 Bold
CGI of Central Village scheme
Street, though only two levels remain. The £200m mixed-used Central Village scheme will comprise two new hotels, an apart-hotel, retail and leisure units, cinema, a new multi-storey car park and offices combined with a stepped water race, timber boardwalk and public realm, directly linked to Central Station.
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Key events Spencer Holdings’ breakfast launch
Two of three sites launched in Skelmersdale By Lucy Oliver lucy@movepublishing.co.uk Spencer Holdings recently launched two of three industrial sites it holds in Skelmersdale. The Mayor of West Lancashire, Cllr Geoff Roberts, along with industrial agents from
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the north-west’s leading firms, attended the launch of Pikelaw Place and Pimbo Point on the Pimbo Estate. Pikelaw Place offers 51,561 – 77,356 sq ft of industrial space, while Pimbo Point comprises 23,556 – 103,573 sq ft on the Skelmersdale estate. Telephone 0845 365 555 with all enquiries.
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1. Steve Manifold and David Nuttall (Nolan Redshaw) with Andy Johnston (Knight Frank) 2. Jim Spencer (chairman, Spencer Holdings) and Cllr Geoff Roberts 3. Steve Nealon, Phil Duckett and Andy Sharp (Spencer Holdings) 4. Andrew Owen (Mason Owen) and Phil Morley (JLL)
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5. Darren Hill (CBRE) and Steve Nealon (Spencer Holdings) 6. Howard George (CBRE) with Phil Morley (JLL) and Alex Taylor (Spencer Holdings) 7. Chad Davies (Millar Metcalfe) and Bruce Bott (Mason Owen) 8. Rob Taylor (Knight Frank) and Paul Nolan (Nolan Redshaw)
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9. Alex Taylor (Spencer Holdings) with the Mayor of West Lancashire Cllr Geoff Roberts and Phil Duckett (Spencer Holdings) 10. Robert Diggle (Edward Symmons) and Rupert Lowe (Keppie Massie) 11. Phil Duckett (Spencer Holdings) with Mike Walker (Colliers) and Roy Backhouse (Roy Backhouse & Co.) 10 MOVE COMMERCIAL
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Move Commercial News
Facilitating expansion The Plaza
CGI of the Indigo Hotel
Indigo-ahead for hotel Work due to start on luxury facility LIVERPOOL CITY COUNCIL has granted planning permission for a boutique hotel in the city’s commercial district. The £14million Indigo Hotel, designed by Liverpool architects Falconer Chester Hall, will be located between Yorkshire House on Chapel Street and Number One Old Hall Street, home to Liverpool Chamber of Commerce. The 151 bedroom four-star facility will be
developed by Sanguine Hospitality, under the InterContinental Group’s Hotel Indigo brand. Falconer Chester Hall director Mark Doohan commented: “The approach to the Hotel Indigo brand is that each is unique to its location, using photography and artwork in the rooms, for example, to emphasise its local and unique identity. In this case the site was a former trading spot for
cotton and wine merchants, so we’re looking to draw on those influences in terms of materials and photography.” The hotel will feature an internal courtyard, onto which will face a number of the bedrooms, as well as a ground floor restaurant, bar, gym and cafe amongst its facilities. Work is due to start on the site in January 2010, with the hotel scheduled to open in spring 2011.
Linking investors to key sites LIVERPOOL-BASED Spencer Holdings has appointed Knight Frank to market two schemes on Merseyside. The property development and investment company has developed The Link in Huyton, a major industrial site of 160,000 sq ft across seven acres. A significant proportion of this, totalling 70,000 sq ft, has already been sold. The agents will also deal with enquiries for remaining units on
THE LIVERPOOL branch of law firm Halliwells has agreed to take on new office space in the city. The new lease at The Plaza will run until 2031, and sees the firm move to the eight floor and occupy an additional 2,000 sq ft of space. The total size of the new office will be 23,000 sq ft when the move takes place in March 2010. An innovative fit-out on the eighth floor of the Bruntwood development will also lend itself to future expansion of the growing law firm. Executive chairman at Halliwells, Ian Austin, commented: “Liverpool is very much important to our business and this is a significant development for the office.” Managing partner, Jonathan Brown, added: “The growth of the office over the last few years has resulted in the need for more accommodation. We decided to stay at The Plaza as it provides first rate office accommodation, and is conveniently located for staff and clients alike.” Sue Russell, partner and head of Halliwells’ Liverpool office reflected on the agreement: “We were the first legal firm to move to this part of Liverpool in 1991 when the firm was known as Cuff Roberts. The area has grown and developed, and we are now located right in the centre of Liverpool’s legal fraternity. We are delighted to be investing in our Liverpool office and committing to the city by extending our stay.”
The Link in Huyton
Sefton Business Park, on Deltic Road in Aintree. The scheme comprises five units, and is already home to Stearn and Camelot. Paul Kelly, surveyor at Knight Frank, commented: “Having worked with Spencer Holdings on schemes including Whitegate
Business Park and Mountheath Trading Estate over the last few years, we have built up a good relationship with the team and believe our in-depth knowledge of the region, and occupiers’ needs, will help us secure deals at both of these developments.”
Jonathan Brown MOVE COMMERCIAL 11
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News Move Commercial
Ambassador builds Empire North West theatres change hands in £90m deal Liverpool Empire theatre
The Opera House
The Palace theatre
Southport Theatre
Baltic scheme to sail ahead Developers invest in area NEPTUNE has stepped in to salvage a scrapped waterfront development in Liverpool. The developers have announced they will be looking to bring forward proposals for the high-rise Baltic Triangle plan opposite the King’s Waterfront on Wapping. London-based Windsor Developments began work on the site in 2006 as the first phase of an ambitious vision to transform the Baltic area into a 21st century urban village, but work ceased on the building less than a year later when the company went into administration. Neptune will now work with administrators BDO Stoy Hayward to develop the stalled project as a mixed-use scheme, rather than the large-scale
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residential development proposed by Windsor. Steve Parry, managing director of Neptune Developments commented: “It’s crucially important that this site does not continue to blight confidence or further investment in this area and that is why we will be working hard to bring forward an appropriate and deliverable development mix as soon as is reasonably possible.” Liverpool City Council is also planning £2m worth of highway works to the Baltic Triangle area. The scheme will include improvements to the public realm on Park Road, Jamaica Street and Blundell Street and a major upgrade of Jamaica Street itself, with a comprehensive new street design.
THE AMBASSADOR THEATRE GROUP has completed the £90m acquisition of rival Live Nation’s UK theatres. The deal includes the purchase of four theatres in the north-west. The Liverpool Empire, The Palace Theatre and The Opera House in Manchester and Southport Theatre now fall under the Ambassador banner. A further nine theatres, including The Lyceum and Apollo Victoria Theatre in London, were also part of the deal, bringing the total value of the Ambassador business to an estimated £150m. Greg Dyke, who
will be joining the business as executive chairman, commented: “I’ve known the group for many years and seen it grow from its early years in Woking to become one of the biggest theatre operators in the UK. ATG is a great British success story and the acquisition of the Live Nation Theatres will make the group even more successful. I’m looking forward to being part of its future.” Ambassador was advised on the deal by Deloitte’s Corporate Finance, while Live Nation was advised by Goldman Sachs.
£10m development proposed for Dale Street Scheme could boost regeneration for Liverpool gateway A NEW 122-bedroom hotel has been proposed for Liverpool city centre. The Belfast-based Benmore Group hopes its £10m scheme, which also includes retail units and a 300 space car park, will be approved by council planners when the proposals are heard early this year. The Benmore Group intends to develop a largely derelict site in the centre of Dale Street, preserving the historic façade of the street’s Pioneer Building. Group chief executive David Burrows believes the scheme could act as a catalyst for the regeneration of the one of the city’s key gateways. He commented: “We’re quite hopeful that the planning department will back us given that it’s a regeneration scheme for one of
the main arteries of the city. I think it’s a very good scheme, which will create a nice façade and retain the Pioneer Building. I think it will look very good when it’s finished.” The group expect to hear the result of the planning application within the first quarter of 2010 and, with approval, would likely begin work on site in the spring. The hotel is scheduled for opening by summer 2011. David Sayer, director of Benmore’s development consultant GVA Grimley, commented: “It is fantastic that major developments such as this are coming on-stream in the current economic climate. The site represents a central position on Dale Street so we believe it will have a major beneficial impact on the entire street’s fortunes.”
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Move Commercial News
Waterfront landmark’s appeal
New plan for cruise trade
PROPERTY GROUP Downing has secured an additional letting to longterm tenant Rathbone Brothers plc (Rathbones) at the Port of Liverpool Building. The FTSE 250-listed wealth management company is expanding its presence in the Grade II* listed building with an additional 4,696 sq ft suite on the third floor. The deal means that Rathbones now occupies in excess of 55,000 sq ft in the building which is its largest base in the country, housing 330 staff. Café Marmalade, which has been operating in the Port of Liverpool Building for eight years, has also renewed its lease with Downing for another five years. Earlier this year Downing completed a comprehensive £15 million restoration and refurbishment project at the waterfront building, returning it to its former glory and enhancing its appeal as a contemporary office space. Downing was awarded a Special Commendation at the 2009 Your Move Property Awards, where the judging panel commented that the developer’s work had ‘safeguarded the building for future generations.’ Robin Ellis, senior agency surveyor at Downing, said: “Rathbones is a longstanding, valued tenant. It is a testament to the quality of the building’s refurbishment and facilities that such a prestigious firm has chosen to take additional accommodation. Paul Chavasse, chief operating
Partners eye key growth
The Port of Liverpool Building
officer at Rathbones, said: “The Port of Liverpool Building is our largest office. The ability to circulate round more than 300 staff without having to leave your own accommodation is very
rare in a modern office building. This scale, combined with high ceilings, stunning views and an unbeatable location, makes the building an ideal base.”
A MASTERPLAN has been unveiled to aid the growth of Liverpool’s cruise industry. The city council and Peel Ports have set out a programme to turn the River Mersey into one of the UK’s leading cruise destinations by trebling annual cruise liner traffic from 15 to 50 vessels over the next five to 10 years. The objectives of the plan include the possibility of the city council leasing the Liverpool cruise terminal to a commercial operator. The key parties will also consider transferring passengers from Langton Dock terminal in Sefton to the Liverpool cruise terminal, until a new private sector facility is added at Central Docks. Details of the masterplan were agreed after the Department of Transport rejected an appeal to create a turnaround facility at Liverpool cruise terminal. Mersey Docks managing director Gary Hodgson commented: “Despite the disappointment of the decision we still believe that there is opportunity in the city for cruise market growth. We are committed to working together with our partners to plan the strategy for this growth, allowing the Mersey’s obvious potential in this segment of the market to be fully realised.”
Hahnemann hope for businesses in cultural quarter
Hahnemann Building
A PROPOSED boutique hotel in Liverpool’s cultural quarter is proving popular as fully refurbished office space. Maghull Developments has decided to let out space in the Grade II listed Hahnemann building for short-term, flexible business use, before 42 and neighbouring 58 Hope Street are converted into an £80m 50-bedroom boutique hotel, with bar, restaurant and day-spa. Office space from 120 sq ft to 10,000 sq ft is now available for periods of one to 18 months. Andrew Owen from Mason Owen, who is acting as joint agent on the scheme said:
“The flexibility of this accommodation makes it particularly well suited to the city’s business startups, entrepreneurs and creative communities. We have already received a substantial number of enquiries and expect there to be a high level of demand from small businesses seeking both lease and rental flexibility at one of Liverpool’s best addresses.” Construction work on the hotel is expected in 2011. For further information telephone Andrew Owen of Mason Owen on 0151 242 3000, or Chris Hennessy of Edmund Kirby on 0151 236 4552. MOVE COMMERCIAL 13
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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
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Move Commercial News
Retailer re-locates to Liverpool £8m investment planned for Estuary Commerce Park
The Vault
DISCOUNT RETAIL specialist B&M Retail has purchased The Vault in Speke to house its national headquarters and distribution centre. The company’s move from its Blackpool base will create 600 new jobs in south Liverpool. The Vault, within the Estuary Commerce Park, will undergo an £8m investment programme to bring the building up to operating requirements, offering B&M Retail more than 600,000 sq ft of
warehouse space and ancillary offices. The decision to relocate was made following the pledge by Liverpool Vision to provide a grant of up to £1.75m for the operation, dependent upon the number of jobs ultimately created. B&M Retail, which operates B&M Bargains, are likely to provide up to 200 office jobs and 400 warehouse, packing and distribution jobs. Jim Gill, chief executive of Liverpool Vision, commented: “This is a very
significant investment in Liverpool by one of the country’s fastest growing retailers and underlines the attraction of Liverpool as a business destination.” B&M Retail, which began trading over 30 years ago, currently operates 135 stores, with an annual turnover of £255m. Joint managing director Simon Arora commented: “We have invested heavily in the business and have seen four years of excellent growth, but in order to compete
Prospect brings in Keppie Massie
Tulip sows new seeds A £12M investment in a state of the art sausage production factory on the Wirral is leading to job creation in the region. Tulip Ltd, a leading producer of pork and bacon products in the UK, has reinforced its commitment to Bromborough with announced 270 new skilled jobs and the potential for future growth. The food and drink sector is a key growth industry in the northwest, and the Wirral’s appeal to investors is a welcome and continuing trend. Peter Judge, divisional managing director at Tulip, commented: “We are delighted to be able to announce our plans to redevelop our Bromborough production
facility, and I would like to thank Wirral Council and the Northwest Regional Development Agency for their continued support. “Clearly there is an awful lot of work to do before the new facility will be up and running, but we are confident that we will be in a position to begin producing sausages at Bromborough in the first half of 2010.” Robert Hough, chairman of the NWDA, added: “This investment by Tulip in its Wirral site is great news for the area. The creation of 270 new jobs will provide a welcome boost for the local economy, and support the development of the region’s food and drink industry.”
even more effectively in the national market we needed to find a centre more geographically suited to our distribution needs. After looking at a large number of potential sites we have decided that Liverpool was the outstanding option. A decisive factor was not only the quality of business environment but also the proximity to the docks reflecting Liverpool’s position as an international freight gateway.”
Stuart Keppie
Agents become new joint agents for Meridian Business Village
KEPPIE MASSIE COMMERCIAL has been brought on board as joint lettings agents for Prospect’s Meridian Business Village in Hunts Cross. The Liverpool-based firm will work alongside Hitchcock Wright & Partners to let the available space. Meridian Business Village offers 40,000 sq ft of new office space for purchase or lease across two-storey self-contained office buildings. Stuart Keppie, a partner at Keppie Massie, commented: “We are
delighted to have been instructed on Meridian Business Village, which has a great deal to offer in terms of the specification of the product, excellent location and the fact that the units are ideal for both start-up companies and established businesses. I am confident that the level of transactions will now increase significantly as companies become aware of the major benefits of locating their operations to Meridian Business Village.” MOVE COMMERCIAL 15
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News Move Commercial
View of MediaCity UK
Take one at Quay West Agency arrival at MediaCityUK MTM ASSOCIATES is the latest occupier to let space at Peel’s Quay West Business Centre at MediaCityUK. The acting agency, which has relocated from Ardwick, Manchester, has been established for 11 years and provides artists for television and theatre productions including Coronation Street, Emmerdale and Eastenders. Their move to Quay West at MediaCityUK signified a conscious decision to be closer to the UK’s first media city. Melody Thresh from MTM Associates commented: “We have moved to Quay West to be at the heart of television production for the foreseeable future MediaCityUK. Quay West Business Centre is in a great location and provides us with excellent facilities.” Liza Marco, property manager for Quay West commented: “The Business Centre offers a full range of services from office space to meeting room hire and we are delighted that MTM Associates have taken space with us.”
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Alchemy strikes gold LANGTREE DEVELOPERS have announced another letting of industrial units in Knowsley. Merseyside-based food distribution company AD Retail has taken two units totalling 21,000 sq ft at Alchemy Business Park, which fronts the A580 East Lancs Road. The development was built speculatively between Langtree and Knowsley Metropolitan Borough Council over a 25 acre site and comprises 97,000 sq ft of industrial accommodation. Alan Dale, director at AD Retail, commented: “The decision to relocate from Speke to Knowsley became a certainty once we viewed the opportunity at Alchemy. The new units are built to a very high specification and give the right impression for our business.” Lisa Bennett, property manager at Langtree, was delighted to hand over the keys and welcome AD
Alchemy Business Park
Retail to its new home. She said: “We specialise in creating high quality units offering flexibility for manufacturing and distribution companies, and Alchemy offers one of the most modern environments
Cammell Laird chief executive John Syvret and Smith & Sons senior partner, Peter Bowskill, at the new Cammell Laird Group headquarters
SMITH & SONS property consultants have leased Number Six Abbots Quay to Wirral-based shipbuilders, Cammell Laird Ship-repairers & Shipbuilders. The internationally renowned maritime specialist will relocate its group headquarters to Abbots Quay Business Park in Monks Quay, Birkenhead in a high spec building adjacent to the shipyard. The maritime experts have taken
4,500 sq ft on a 10-year lease on full repairing and insuring terms in the business park, which comprises six stand-alone units on Wirral waterfront. Other tenants at the site include construction solicitors Kerrigans, ICE marketing agency and The Priory Partnership accountants. Peter Bowskill, senior partner at Smith & Sons, commented: “Abbots Quay is a fantastic business park that offers a
available in the area. AD Retail has shown continued growth and these units offer room for further expansion.” Joint agents on the site are CBRE’s Liverpool office and Roy Backhouse & Co.
Shipyard attracts maritime HQ great location and facilities. This letting brings one of Wirral’s premier business to Abbots Quay and offers a perfect position for the company, with the shipyard just next door.” Cammell Laird chief executive, John Syvret, added: “We have been looking for some time to set up our group headquarters and the location of this building, adjacent to the ship yard, is a logistically perfect position for us.”
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Move Commercial News
New face at Birchwood Park
Business eyes Maxx exposure
Move represents Warrington’s biggest deal of the year
The old George Henry Lee building
Retailer on the move in Liverpool city centre Birchwood Park
A LEADING technology services provider has moved into 17,000 sq ft premises in MEPC’s Birchwood Park in Warrington. National Nuclear Laboratory has moved from Hinton House in Birchwood to the recently refurbished Chadwick House at the park. Initially accommodating around 150 personnel, NNL’s spacious new premises will facilitate anticipated expansion, with the firm hoping to recruit between 20 and 30 people over the next three years. NNL director of facilities Leigh Wakefield commented:
“As NNL enters a new era of growth it makes great sense for us to move to a new location. We wanted to remain in the area to stay close to our contacts and to ensure minimal disruption to our employees’ travel arrangements. MEPC Birchwood Park offered a competitive deal and the park’s amenities and onsite team are excellent. We look forward to expanding our business here.” The arrival of NNL marks the latest stage in the bourgeoning nuclear sector at the park. To date more than 20 companies
work in or service the nuclear sector, including Amec Nuclear, Nuvia, RollsRoyce, Serco Assurance and UKAEA. Jonathan Walsh, managing director at MEPC’s Birchwood Park, commented: “We’re very pleased to welcome NNL to the park and are confident that it will continue to flourish within our growing nuclear community. It is a triumph for the park to have attracted another key company from the nuclear sector, in what is not only our biggest deal so far this year, but Warrington’s too.”
DISCOUNT RETAILER TK Maxx is to take up residence in the old George Henry Lee building on Liverpool’s Church Street. The new store will boast nearly 30,000 sq ft over three floors and create around 50 new jobs. TK Maxx is currently based on Parker Street in the city centre and will make the switch in the spring. Lucy McGonigle from TK Maxx commented: “We are very excited to be opening up a new store in the heart of Liverpool’s shopping district.” The George Henry Lee building became vacant when John Lewis moved to a new bespoke store in Liverpool One. Rapid Hardware currently occupies the back half of the building.
Langtree welcomes new tenants Centrix@newton continues to thrive LANGTREE has announced six new lettings for centrix@newton in Newton-le-Willows. Design and construction specialist McLaren Construction has taken a unit on a one-year lease at the prestigious serviced office development, while Civic Trust has taken a two-person office on a two-year lease. Integrated Cleaning Management and tooth cell bank Bioeden have taken a seven-person office on a two-year lease and a four-person office on a one-year lease respectively. The final two deals saw local businessman Will Ainscough relocate his existing business, W R Estates, and his new business, HIMOR Group to centrix@newton. Will said: “Both businesses required premises that provided a professional working environment along with access to conference and meeting rooms. Centrix@newton
centrix@newton
was the ideal solution.” Centrix@newton is a two storey 15,000 sq ft building, providing serviced offices for 2 to 12 people and pay by the hour conference and meeting facilities. The 15 selfcontained offices provide accommodation from 1,270 to
3,330 sq ft, or a combination providing up to 15,000 sq ft. Vicky Sproat, business centre manager for centrix@newton, commented: “Centrix@newton provides the area’s only state-of-the-art serviced offices and we are delighted that it continues to thrive. We’re pleased
to welcome a further six tenants, taking the building up to 83 per cent occupied.” For further information on availability at centrix@newton telephone 01925 273000, or visit www.langtreegroupplc.co.uk/centri xnewton. MOVE COMMERCIAL 17
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Key events Urban visions
Regenerating the UK’s ‘core cities’ By Lucy Oliver lucy@movepublishing.co.uk
1 1. Alison Muckersie and Dave Anderson (Edinburgh Council) with Mike Blackburn (BT)
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The Core Cities Summit 2009 saw parties from the eight UK cities designated as ‘core cities’, including Liverpool, come together at the BT Convention Centre. Topics covered included how to move beyond the recession and city economies, safeguarding employment and inward investment – and took in a wide range of issues in the course. Chaired by BBC political correspondent Jon Sopel, and with speakers including Liberal Democrat leader Nick Clegg and cities guru Kjell Nordstrom, the event made inroads into some pressing
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concerns for council and business leaders. Kjell Nordstrom’s insight into the changing face of society, with increasing numbers of single households and a reliance on technology as major considerations, and his perspective on how inclusive societies - such as the American model – attract talent provoked thoughtful discussion. However, the pressing topics of encouraging foreign direct investment into the region and growing a sustainable economy are sure to form the basis of future events, and debate.
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2. Rebecca Ward (North West Regional Development Agency) and Caroline Baker (DTZ) 3. Peter Connor (BT) and Dave Moorcroft (The Mersey Partnership) 4. Paul Rubinstien (Newcastle City Council) and Wayne Shand (EDP Associates) 5. Gary Smerdon-White (Nottingham Contemporary) and Barry Horne (Nottingham Council)
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6. John Sopel (BBC Politics Show), Hugh Morgan-Williams OBE (Northern Way) and Thomas Pienaar (RICS) 7. Karen Christon (Newcastle City Council) and Graham Pinfield (Manchester City Council) 8. John Mottersole (Sheffield) and Andrew Dixon (Newcastle & Gateshead) 9. David Bartlett and Neil Scales (Merseytravel)
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10. Nick Clegg MP, Warren Bradley (leader of Liverpool City Council) 11. James Morris (Localis) John Galaway (South Gloucester Council) 12. Mike Blackburn, Peter Connor and Andrew Bacon (BT) 13. Abigail Howarth (Merseyside Policy Unit) and Cath Green (Liverpool City Council) 18 MOVE COMMERCIAL
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Move Commercial News
Refurb’ at Salford’s Quay West
The Quay West Building
Tenants eye MediaCityUK building REFURBISHMENT works have been completed at Peel’s Quay West building at MediaCityUK. Work has been carried out on the three story atrium reception, while the ground floor business centre has also been upgraded with new carpet and lighting. Externally, landscape works have been undertaken to create a new tree-lined boulevard and new entrance gates along the waterfront by the Lowry Bridge. Shipping company Tuscor Lloyds has already secured office space on the 8th floor and it is anticipated the upgrade, overseen by architects
Chapman Taylor, will generate further interest from potential occupiers. Paul Chappels, senior property manager at Peel, commented: “Quay West is one of the quay’s most prestigious landmarks and we were keen to ensure the works reflected this. Quay West is in a great location for any business, whether it is those looking to use the Business Centre services or a full floor occupational letting.” For lettings enquiries at Quay West, telephone agents WHR on 0161 228 1001, or Edwards and Co on 0161 833 9991.
Corn Exchange revamp Prime city centre office space on the market
The Corn Exchange
A LANDMARK building in Liverpool’s business district has undergone a striking transformation. A new reception has been added to the historic Corn Exchange, in the building’s main Fenwick Street entrance. The work follows a comprehensive refurbishment of the Drury Lane entrance to the building, which included new windows, entrance doors and secure fob access facilities and the earlier refurbishment of a range of office suites.
A number of high quality newly refurbished suites are now available in the building from 150 sq ft upwards, including a Grade A specification ground floor suite of 4,652 sq ft and the 8,700 sq ft second floor. Unusually for a city centre building, generous car parking provision can be secured on site. For further information telephone Jon Swain at Mason & Partners on 0151 225 0118, or Tony Reed of Keppie Massie on 0151 255 0755. MOVE COMMERCIAL 19
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...then contact
centrix@newton! Whatever your budget, our competitive office packages offer a solution that gives you all the benefits of a state-of-the-art office without the cost. • Business centre with offices for 2 to 12 persons • Secure environment • On site car parking
• Air conditioning • Close to the M62 and M6 motorways • Conference and meeting room facilities
centrix@newton, Crow Lane East Newton-le-Willows WA12 9UY
CALL 01925
273000
www.langtreegroupplc.co.uk/centrixa tnewton
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Move Commercial News
Soft sell at Station House Bruntwood secures letting
Kilpatrick’s sales boost Deals bring in £1m
Station House
BRUNTWOOD has let 11,000 sq ft of office space at Station House in Altrincham. Software company Quantiv currently occupies 3,300 sq ft at Station House and has increased this with an additional 2,200 sq ft, with an option to take an additional 5,500 sq ft over the next five years. With support from MIDAS, Manchester’s
investment and development agency, the deal with Bruntwood means the business will not now relocate to London as it was considering. Andrew Butterworth, sales director at Bruntwood, commented: “We’re delighted to be able to accommodate Quantiv with increased space at Station House. Bruntwood is
Tesco plans dismissed Project Jennifer ready to progress PLANS FOR a new Tesco store in North Liverpool have been dismissed. The supermarket chain had proposed a 8,457 sq m store and petrol station on the site of the Project Jennifer development. The application, which also included an indoor and outdoor market area on Great Homer Street, was dismissed by planning inspector Phillip Ware following a public inquiry earlier this year. Liverpool City Council and development partner St Modwen
argued that the development would prejudice a comprehensive redevelopment, which will deliver a district centre and greater comparison shopping and choice to local people than a free standing foodstore. Michelle Taylor, regional director of St Modwen, commented: “We have always maintained that the application to build a foodstore in isolation would not have brought about the much needed regeneration for one of the most
One of a kind £1bn development receives double honour
Liverpool One
committed to providing high quality offices alongside the flexibility for customers to grow within the terms of their lease, not only in the buildings they occupy, but across any of our 90 properties across the north of England. We look forward to continuing to work with Quantiv in providing their long term office space solutions.
deprived areas in the country. The decision means we can begin the next phase of Project Jennifer.” Sainsbury’s has committed to taking a 110,000 sq ft store in the Project Jennifer scheme, which also includes a 965 space care park, petrol station, 80,000 sq ft of nonfood retail store, a market hall and 300 relocated outdoor market stalls. Facilities for the Primary Care Trust, 481 new homes, a new library, leisure facilities, improved public realm and 80,000 sq ft of light industrial space will also make up Project Jennifer. It is expected that land assembly will begin in the spring.
LIVERPOOL ONE was recognised as one of the UK’s finest developments at a recent awards dinner. The £1bn Grosvenor development won gold at the British Council of Shopping Centres event in the category of “in-town retail scheme more than 300,000 sq ft”. The 42-acre site also received a coveted Supreme Gold from judges at the event in the Grosvenor House Hotel in London. Neil Varnham, chairman of the British Council of Shopping Centres gold
THE KILPATRICK PROPERTY GROUP has been boosted by £1m worth of sales from retail space on Liverpool’s Castle Street. The Glasgow-based company bought 10 – 18 Castle Street for £2,050,000 in summer 2008 and has spent £0.5m upgrading the Grade II listed 14 Castle Street as part of a rolling refurbishment programme. They have now completed three transactions, offering units with 250 year leases at nominal rents. The first office suite to be refurbished has been sold to FRD Risk Solutions, who has secured accommodation of 1,840 sq ft. Kilpatrick has also sold the retail premises at 16 Castle Street to a private investment company. The 800 sq ft property has been let to Origin Rejuvenation Clinic until 2018. The two latest deals follow the sale of 18 Castle Street, which has been sold to a private investor and let to Furness Building Society. Maurice Glen, managing director of Kilpatrick Property Group, commented: “We have been extremely pleased with the quality and extent of refurbishment that has been implemented at the property. The sale of the individual retail investments on the ground floor again demonstrates generally improving market sentiment for commercial property investment product with the strength of location and lot size being the main driving forces of demand.” The property is jointly marketed by Mason Owen and CBRE.
awards jury, commented: “Liverpool One is probably one of the most challenging regeneration projects of our time, achieving the maintenance of the urban grain, with a revitalised retail offer linking the scheme to the dock area. It is undoubtedly a benchmark for the UK shopping centre industry in demonstrating successful delivery of the government’s urban agenda. It has truly regenerated one of our most wellknown cities.” MOVE COMMERCIAL 21
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Key events Your Move Property Awards 2009
Commercial stars recognised By Lucy Oliver lucy@movepublishing.co.uk
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Property and business professionals from Liverpool, Manchester and across the northwest gathered at the new Hilton hotel in Liverpool One for the annual Your Move Property Awards, hosted by Move Commercial’s sister publication. 2009 saw Liverpool’s premier residential property and lifestyle magazine hold its sixth annual award ceremony. The first event to be held at the
new hotel saw a drinks reception followed by a presentation entitled ‘A decade of development’ before the property award winners were announced. Special categories for commercial developers included awards for the best commercial scheme, won by ic2 for Liverpool Science Park, the regeneration award and a special contribution to Liverpool property over the past 10 years.
2 1. Move Publishing directors Kim O’Brien and Fiona Barnet 2. Esther McVey and winner of the award for special contribution to Liverpool property, Steve Parry from Neptune Developments
4 4. The Downing team celebrate special recognition for their work in restoring the Port of Liverpool building presented by Stuart Keppie (Keppie Massie)
3 3. The moonlit view of Liverpool One from the Hilton
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5 5. Neil Kirkham (HWP) and Tony Reed (Keppie Massie) 6. Stuart Keppie (Keppie Massie) and John Sheild (JST lawyers)
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For Mike Welch, the founder and MD of Black Circles, the route to success brought him full circle before it launched him in the international motoring arena. The Liverpool-born entrepreneur went from selling tyres online in a Garston office to become the director of a firm that changed the motoring industry and is now set to go global. He joined Lucy Oliver at The Crowne Plaza for breakfast to talk about becoming ‘the online Tesco of the motoring industry.’
Road to success Mike Welch confides that he is embarrassed by his own story. He left school at 16 without the qualifications to go to college and joined a local tyre fitter “because that was the first job that came up.” When the company had to make redundancies he was laid off, and there began an empire: “I’m a bit of a cliché in that I set up my own business out of necessity, and I went for selling tyres by mail order because that was what I knew. It was simply a case of not having any experience in doing anything else and that I couldn’t find another job.” What may have begun as a bumpy ride certainly had its moments of exhilaration. The business began selling locally, and grew to take on staff through The Prince’s Trust who supported the project from the beginning. Said Mike: “I took an ad in the Liverpool Echo and with the help of The Prince’s Trust I managed to get an office in Garston and £300 for a computer. My first advert said ‘The cheapest tyres in the world’ – I think Trading Standards would have something to say about that these days.” He continued: “I got loads of calls, as that was such an outrageous proposition. I started selling tyres with a very small line of credit with a local tyre supplier, I took some ads with Max Power and the specialist magazines and before I knew it we were retailing across the UK.” He hit problems when he found that, running his own business 24 MOVE COMMERCIAL
without qualifications, he lacked the support and training to manage the accounts. He is modest enough to want to acknowledge John Moores University for taking him onto a business course without the typical academic background, and says it was through that he realised that he was lacking the capital to see the business lasting into the long-term. “I did a foundation course in accounts and that became a business degree, which I was doing at the same time as running the company. JMU were really supportive and I moved the business into the university and employed a few more people. We were doing well and the website got up and running. We were the first of our kind, selling tyres over the internet, which was an odd one as online firms were going down all over the place.” Mike says he is under no illusions about the nature of the business: “It wasn’t a sexy market to be going into; I can’t stress that enough. It’s the kind of market where you’ll do well if you can buy and sell the tyres cheaply. The problem for me was I was working off cash flow. I’d worked out that I had seven days’ credit from suppliers, and I used that to take out an advert and generate another sale to get the money to pay the suppliers, and then the newspaper. I was using the customers’ money as I didn’t have enough cash to run the business so I was effectively insolvent, although I didn’t really
understand that at the time – I just knew I needed some capital.” Mike’s expertise in sourcing the tyres and supplying them could not solve the business’s cash problems alone, so he was receptive when Kwik Fit approached him: “They’d got wind of what I was doing. I was concentrating on the high performance market and they didn’t have any expertise there, so I was invited to go and have a discussion with them in Edinburgh about the marketplace-whether we could work together, whether there was an opportunity for me to do something for them. To cut a long story short I was bought out of my small business with a package that felt like I’d made it big time, but in hindsight I probably had just enough to buy myself a chippy dinner. Back then though it felt incredible.” The trade off – Mike to move to Edinburgh and develop the online proposition to Kwik Fit’s customers – resulted in the creation of Dial A Tyre, which was essentially Mike’s business folded into Kwik Fit. He spent the next two years working with Sir Tom Farmer, which he readily maintains was a big pull. He became the leader of Kwik Fit’s e-commerce arm, working all over the world: “Just two or three few years earlier I’d been working in a little office in Garston, so I felt as if luck had come my way. I had a really good work ethic and I was putting everything into it because I knew I had this
opportunity.” That paid off, as Mike developed his skills and strengthened the business, but when he was asked by his boss about his future ambitions, and he confessed that he wanted to run Kwik Fit, he was told he’d have to wait in a very long line. “I decided to leave within 48 hours,” says Mike, a little embarrassed at repeating the story which always evokes a response. “I set up my own little office in Edinburgh and created the company, Black Circles. You could say we’d come full circle, except that this time I had the business acumen to put into it. We got the URL and brand name, and started selling tyres over the internet, but this time I had learned a lot about business, fortunately. I knew what I wanted was a national chain tyre fitting outlet and a brand which we could develop in Europe and worldwide.” There, in 2001, began the enterprise which now boasts savings of 40 per cent on the same tyres offered in the high street. Over 1000 national franchises fit Black Circles’ tyres to customers’ cars when they order them online or by telephone, and the business turnover of £13m for 2009 is projected to rise even further this year. At the start, Mike resorted to ordering copies of the Yellow Pages for all the regions so that he could see the different garages and get them signed up to his website. He got 500 in pretty quickly, which got
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Mike Welch Entrepreneur
Welch File DOB: 28/09/78 Education: Woodchurch High School First job: A tyre fitter for a local Nissan dealership Top Tip: “Work hard. Know your customer and the market you’re in.”
Breakfast at the Crowne Plaza Mike and Lucy enjoyed The Crowne Plaza’s buffet breakfast in tranquil surrounds and fantastic views of landmark heritage buildings, delivered with the expertise of Danny Cairney and the team. Book on 0151 243 8000.
Welch’s Three Challenges 1. To focus on our core proposition, the retail brand 2. To develop the business overseas in France, Germany and Holland and establish the international platform 3. To continue to hire the best people him coverage nationally, followed by a deal with Sainsbury’s: “I had started up a small business, but now we were making an attack on Kwik Fit.” It certainly wasn’t all plain sailing. An investor in the business clung to his shares and caused headaches for an 18 month period, until others came in and Mike was able to buy him out: “Now I’m able to take the business where I want to. We have 1087 franchise garages who use our branding and have our systems in place, and we have partnerships with RAC and Tesco. In terms of our marketing strategy, we’re not investing so much in advertising the tyres as in running a business with a great service and the cheapest rates – up to 45 per cent less than what you’d pay at another
tyre fitter. As I’ve said, this isn’t a sexy business – people just want a good price and a good service. Customer service is the most important to us, we have auditors to identify the right garages for us and we meet the Kite-mart standard.” Mike’s ambitions for the business are now taking him abroad, with an office in Edinburgh and franchise garages in eight countries. With the business’s online core, it’s a small team which oversees the expanding operation: “We’ve got a great team of people, and 53 staff at our head office – a much smaller number than if we weren’t online and had to put the business out there by other means. The next step is to take it worldwide.” Mike’s Liverpool roots still show in
his passion for returning to the city for LFC games and to visit his family, who now live on the Wirral. His personal integrity and work ethic are a credit to him, and it’s a loss to Liverpool that the business wasn’t set up here. Mike too would have liked Black Circles to start up in his home city: “At the time, there just wasn’t enough investment in Liverpool. This should have been a north-west based business, and it’s not, but that’s not for lack of trying.” His respect for Sir Terry Leahy, Liverpool-born chairman of Tesco, runs to admiration of his business acumen and his personal qualities. (Indeed our photographer Tom, who has met both men, says there’s a likeness between them to both their credit, in their integrity and down-
to-earth attitude.) Says Mike: “He’s an incredible role model for us here, being from Liverpool himself, but in this country we aren’t proud enough of our success stories, and we play it down.” The future for Black Circles is to become a long-term market leader, to “be as established as Hoover - the online Tesco of the motoring industry.” Not one to be distracted from his core premise, Mike is still interested in investing in other projects and, believes he’ll “probably run Kwik Fit one day.” From this man of just 31, who is clearly a genuinely talented businessman and equally modest, friendly, and fun, it doesn’t sound audacious. It rather makes you wonder why Kwik Fit should be so lucky. MOVE COMMERCIAL 25
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Appointments
Kate Harrison
Experienced marketer joins Bruntwood Bruntwood has announced the appointment of Kate Harrison as marketing director. Kate will replace Simon Scott at the company, following her term as interim chief executive at Cityco, the Manchester-based management company. Kate, 40, has over 15 years’ experience in the industry and has previously worked with Sainsbury’s, Mars and Manchester Airports Group. Chris Oglesby, Bruntwood’s chief executive, commented: “I am delighted to welcome Kate to the team. Kate is a very talented marketer and her experience will be invaluable as we roll out the brand in our established cities and beyond.”
David Guest
Regional director returns Bruntwood’s former regional director in Liverpool has returned to the post he left in 2008. The position had not been filled since David Guest left the company to run his own consultancy and he will re-join Bruntwood on a full-time basis. David is chairman of Liverpool Commercial District Partnership and also advises the Everyman and Playhouse Theatres Trust in Liverpool. He said: "I’m exceptionally excited about my return and the fresh challenges that lie ahead. The alignment of our business has always been around offering offices that meet the requirements of the market, and my role in the city will be integral in helping to provide cohesion in the Liverpool team to ensure we can adapt seamlessly to the everchanging needs of our customers."
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ADVERTISEMENT
Greenbrook director appointed Liverpool-based Greenbrook Construction has appointed Jonathan Halfpenny as director. Greenbrook works exclusively for commercial property developer Spencer Holdings Ltd, managing the group’s development programme across its property portfolio. Since joining Greenbrook in 2007, Jonathan, who has previously worked for Drivers Jonas and EC Harris, has managed extensive refurbishments across the region.
Chris Harmer specialises in advising commercial landlords and tenants in relation to property and contract disputes
CHRIS HARMER
Q. I have a tenant who is not paying rent for a commercial premises under the terms of a lease. The tenant is a company. I understand that you may be able to issue a winding up petition. Is this correct? A. There are a number of enforcement options available if your tenant is not paying rent.
Jonathan Halfpenny
Managing director Paul Jackson commented: “Jonathan has been an integral part of the team since joining us in 2007 and his project management and building surveying skill sets fit in ideally with the work that we undertake for Spencer Holdings. Prospect of new faces Developers Prospect has strengthened its sales team with the arrival of Tony Straw from Liverpoolbased chartered surveyors Rees Straw. Tony, previously development manager with UK Land & Property, will manage sales and marketing activity at Prospect’s Meridian Business Village in Hunts Cross. Keppie Massie has also joined Hitchcock Wright & Partners as agents to let the available space at Meridian. Prospect managing director, Neil Waddington, commented: “We welcome both new team members and look forward to engaging their expertise and grasp of the Merseyside market in taking Meridian forward. Tony will be based at Meridian once a week to help viewings and enquiries, liaising with Keppie Massie and Hitchcock Wright & Partners.”
Tony Straw
If the tenant is a company, there can be no dispute that the tenant is liable to pay rent, and a winding up petition can be issued. Upon the hearing of the petition, the Court can make a winding up order which will place the company into compulsory liquidation. At that stage, the Official Receiver will be appointed to deal with the company’s affairs and the Official Receiver could bring the lease to an end through a process known as disclaimer. It is possible for you to take a forfeiture action and recover possession of the property before the petition is heard. However, a commercial consideration is that upon you forfeiting the lease, you would be responsible for the business rates for the property rather than the tenant. Before embarking on any enforcement action if you are owed rent, you would need to consider all of the legal and commercial consequences of the various options and it’s wise to speak to a solicitor who would be able to provide expert advice.
JST
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For further information please contact Chris on
0151 282 2882 www.jstlaw.co.uk charmer@jstlaw.co.uk JST Lawyers, Colonial Chambers, Temple Street, L2 5RH
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In Guy Butler’s own words, the Liverpool One £1billion development has been a “rollercoaster ride”. Since the project’s inception a decade ago the retail and leisure phenomenon has succeeded to become the biggest in Europe, and an undoubted success story for Grosvenor, and the city. Guy’s strategic role in the scheme piloted his career in Liverpool and is forming the basis for the company’s plans to develop out of the city.
One to watch Still, this project is ongoing, and designated asset management and estate management teams now manage the day to day handling of the physical space, and the continuing marketing and tenant liaison business. For Guy, Liverpool One has been a fantastic introduction for Grosvenor in the city, and opened doors for the company’s plans post 2009. From an apartment window in One Park West, currently being used as a Grosvenor office, Liverpool One is bustling with shoppers and workers, and a queue has formed in front of the imposing, illuminated ferris wheel. In 2002, when the project first began to generate interest and attract anchor tenants John Lewis, Debenhams and Odeon to sign up, a succession of arrangements had to be found with the city’s retailers. New partners and new names had to be attracted to the complex before extensive planning could refine the distinct areas for leisure and entertainment, and the various retail areas – high fashion, exclusive, mass appeal, homewares – could be identified and positioned. “When we first set about the project Neil Barber headed up the leasing team, with Jennifer Greenwood who has amazing 28 MOVE COMMERCIAL
experience in retail (she’s on the board of the Crown Estate) and a team of four people overseeing three different leasing companies. On the construction side we had 15 or so inhouse Grosvenor project managers, seconded people and the contractors. Rod Holmes and I worked on everything from the design to the commercial aspects, although Rod was more involved with the design than I was while I concentrated more on the financial aspects.” That recipe cooked up the masterplan for Liverpool One, which is reaching fruition perhaps a little later than at first hoped – but without compromising on the quality of the scheme. Guy explained: “When we looked at the design we could see that South John Street, the street flanked at either end by John Lewis and Debenhams, is a prime, prime, prime street. It’s tight and intimate and packs a lot of space into a small area. Space is at a premium so it had to be the best of the best with the highest fashion with brands who will sustain the costs of the buildings. “Hanover Street is much quieter, less of a ‘prime’ location, and links to the Ropewalks urban/leisure/ recreational area, and so the space lends itself to bigger spaces, parking
and therefore homewares stores, and the large Tesco. We’re also hoping to sign up another major furniture and interiors retailer on that street.” The rest of the city centre is also marked out by buildings and situations for the best potential uses: “Paradise Street is marginally less strong in terms of footfall, and is a bit quieter, and it’s wider so that it doesn’t feel as busy. There was also talk of there being a tram line running down it at one point. The buildings there offer much bigger spaces with Apple store, USC and the bigger users, with rents slightly cheaper. “Finally, there’s Keys Court and Peters Lane, and the thinking there before the Metquarter – was that Liverpool needed a high class, equivalent to Burlington Arcade near Bond Street in London. The aim was to hold back for the very best tenants and certainly the team has done that. If we’d been greedy and just wanted to fill it, we could have done it, but it would have been the wrong tenants. Peters Lane is premium. When the Metquarter opened we had to rethink it, but we’ve raised our game and we’ve actually lifted ourselves, I believe, so that we’re not competing with each other. The finish is high quality with copper shop fronts, interesting lighting,
good floor, designed by the same guy who did the Royal Opera House in Covent Garden - Sir Jeremy Dixon, of Dixon Jones Architects – someone with a proven track record.” Guy acknowledges that, in the beginning, there was resistance to the project and a negative take in some quarters on what it would do for the city: “Liverpool is a better place for the Metquarter, it complements us and we work together – although it did cause us a challenge at the beginning. Eight years ago people said to me that all I was doing was moving the shops around the city, but what’s happened is, the shops have stayed open in the city and there are lots and lots more new shops. Areas like Bold Street have actually improved because of Liverpool One, look at the Italian Fish Club, and the fantastic shops, bars and restaurants. When Quiggins closed, it moved to Renshaw Street and it’s still thriving. Liverpool is now stronger than ever.” When the plans were first aired, the success story of residential apartments living opposite a restaurant terrace, filled with bustling retail units and a working link to the Albert Dock, was not a vision shared by everyone in the city,
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Guy Butler Rising Star
Fact File DOB: 06/06/76 in Bridgend, South Wales Education: Monmouth School and University of Reading, Land Management and Development (Bsc) and European Property Investment at City University (Msc) First job: “I joined Turnberry Consulting and advised on Ascot Racecourse. I also sold Ealing Film Studios. I worked there for two years before joining Grosvenor, where I’ve spent the last 10 years.”
and Grosvenor had to work very hard to convince city centre businesses and complete the compulsory purchases necessary to assemble the 42 and a half acres of land needed. “That was by far the hardest part of the job, especially dealing with great people like the Tierney brothers at Quiggins who’re great, and when we see each other on the street we’ll still stop and say ‘hi’. The project, in many ways, has really opened doors for us in the city, and so I’m hopeful for our future plans.” The past year has allowed him to reflect on the developer’s success, and to identify future challenges: “I’ve done about £125 million in sales altogether – Tesco on Hanover St, the Hilton, George Henry Lee back and front, flats in One Park West – 2009 was a fantastic year of consolidating and it’s very exciting. In March we handed over the asset management of Liverpool One to Miles Dunnett, and the day to day running of the scheme to Chris Bliss. That was a major achievement, and it means that I can concentrate on the future development in the city, with the team in London.” For the present and immediate future, Guy’s focus has switched towards the redevelopment plans for Hanover Street, before attention is turned to Renshaw Street, where Merepark developers and others will also be working on a number of schemes. The development of a new build 265 bedroom hotel opposite the BBC, along with seven bars and restaurants and two large retail units, is the first on the list, along with securing another large homewares retailer for Hanover Street. That will see a site left behind Hanover Street, known as ‘2122’, which will still need planning, but which should bridge the retail district with the Ropewalks. T.K. Maxx’s move into the old George Henry Lee building is a fresh and welcome deal in the city centre, and frees up Grosvenor’s team to concentrate its efforts on Renshaw Street: “We haven’t really started thinking yet about what we’re going to do with Renshaw Street. That’s probably the largest, longest ownership of a street that anyone has in the city. We’ve not really got our heads around it yet, for the best use for such a large site.” While many in the city are wondering what will happen next, Guy is positive about the
improvements within the city council’s performance, and keen to see consolidation of the investment made so far – with a focus on the Ropewalks and the service industry. He is full of praise for JMU, and how it helps students to prepare for the world of work, and Grosvenor recently ran a competition to recognise the work of young interior design students. When it comes to his own career, Guy is embarrassed to point out that he’s already worked with one of his idols: “It sounds awful to say this, because he was my boss, but Rod Holmes has been my biggest inspiration. His dedication and hard work, and commitment to the role made the project possible. People are coming to Liverpool now who never did before, and I can say without twisting my tongue - that people are choosing the city over and above Manchester, for lots and lots of reasons.” Alongside his other commitments, Guy finds time to help the Property Advisory Group at Chester Cathedral, to work with two charities helping to rehabilitate the homeless into society, to work with students at JMU and to help organise the Cholmondeley Pageant of Power, at home in Cheshire. He’s also keen to bring something similar up to Liverpool. While they keep him busy, these ambitions seem well within Guy’s reach. It was his dad who first got him interested in property, and after university he began working selling large commercial sites, before moving to Chester to work for Grosvenor, commuting into the city where he’s both made friends and seized opportunities: “Liverpool One opened doors for me in the city and is making our developments easier now as we can pick up the ‘phone and speak to the right people; it means that if there’s a problem, you can get to the bottom of it pretty quickly. I’ve travelled to Shanghai for conferences, also to Calcutta and Beijing, but Liverpool is the inspiration – nowhere else could assemble so much land and make this happen.” But what next for Guy? “My ambitions are to move onto smaller, quicker, and more profitable developments. I don’t think we’ll see the likes of Liverpool One again.” For Guy though, with such a landmark project under his belt, the future looks very bright indeed. MOVE COMMERCIAL 29
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No moderate talent Specialist regeneration schemes across the UK have made St Modwen’s name. In 2010, Skelmersdale’s town centre project and Project Jennifer, the £150million complex regeneration programme in Great Homer Street, north Liverpool, will see the developers make truly transformational changes to key sites in the region after years of planning and consultation. Michelle Taylor, regional director for the north-west at St Modwen, brings over 20 years of experience to the job. The recent snow and and icy weather conditions were not enough to deter Michelle Taylor from reaching St Modwen’s Warrington-based offices for her usual day’s work -and for our interview. Braving the traffic and the weather, experienced motorist Michelle is accustomed to travelling around the region, and outside of it, for director meetings at the developer’s head office in Birmingham. Indeed, her in-depth knowledge of key regenerational sites in the north-west and how they work together for mutual benefit, is a crucial part of her skill-set. Since joining St Modwen in the 1980s, her role as regional director on schemes in the north-west has seen her undertake a strategic role in bringing to fruition a number of projects in partnership with local authorities and the North West Regional Development Agency (NWDA). The property developer also made headlines when it successfully opposed the Everton/Tesco scheme to regenerate Kirkby in 2009 – protesting on the grounds that the scheme would work to the detriment of surrounding areas and, particularly, St Modwen’s plans to regenerate Skelmersdale. Says Michelle: “We were delighted with the result of the public inquiry, because a freestanding foodstore would not have been the right solution for Kirkby and the surrounding areas. It would not have been a truly regenerational scheme in the way that Project Jennifer will.” 30 MOVE COMMERCIAL
The latter project, destined to revitalise Great Homer Street in Liverpool, and the major arterial roads in and out of the city, signed up St Modwen as preferred partners in 2004. The consultations have been lengthy, entering into discussions with Tesco, before it was announced that Sainsbury’s has been signed as the anchor tenant. In the current climate, and taking into account the socio-economic backgrounds of the local people in the Great Homer Street area, critics might argue that Sainsbury’s is not an obvious choice of retailer for Project Jennifer. Indeed, the recent spate of foodstore and homeware retailers to open in Liverpool city centre have all been branches of Tesco, known for its budget range and costcutting techniques. Michelle commented: “We were in discussion with Tesco for a long time, as you know, but it didn’t work out. Sainsbury’s is perceived as an upmarket retailer, but they do have a very good basics brand which means the retailer will cater for every type of shopper. We’re delighted that they came in on the scheme; there’s going to be a very good balance. What’s more, the scheme as we’ve planned it, will offer a huge variety of retailers and choice to customers. That’s the best way to bring about true regeneration, and that’s why we would not have been satisfied with one major foodstore being approved for the area. The outdoor market on a Saturday is a huge part of Great
Homer Street and incredibly important to the community – and that will continue. We are also looking at how to develop a market hall, with the operators Geraud, which will also have other uses throughout the week and make the best use of the space for the local community. That’s going to be a lovely part of the scheme.” The project, which seems to have been developed sensitively, has seen consultation with Liverpool City Council and the local community at every stage: “The way St Modwen works, and the reason that I’ve stayed here so long, is that all our schemes are done hand in hand with the local authorities and public sector. If we propose something that doesn’t find support, then we won’t pursue it, but we’ll find another route, and I think that’s why the company has been so successful. “From the start we’ve been very well supported in the local community and, although it’s taken a long time to reach this stage, we are now well on the way to agreeing on land acquisition and taking the plans forward. We are offering spaces to national retailers and to local traders, so there will be opportunities for them within the scheme – that’s what will make this a success.” Project Jennifer’s £150million scheme, following on from the developer’s £100million shopping centre development in Wythenshawe, is a huge investment
to make in the north-west at a time when confidence in retail has declined. However, St Modwen is not a developer looking to make a quick buck; while the consultations on the scheme have been lengthy and timeconsuming – Michelle freely admits that they have gone on longer than she would have liked – the project is set to transform the area and our perceptions of it in the long term. “The scheme is set to change the face of the area and everything about it, including whom it will attract, and why more people will go there. “At Wythenshawe, the scheme is still underway for a significant amount of office and retail space, and it’s completely transformed the area. We started on that scheme in 1997, in partnership with Manchester City Council, and we’ve seen four phases of development including a public realm and 60,000 sq ft of new shops in the early 2000s. We later attracted ASDA into the centre and last year completed 16,000 sq ft with eight new shops, all let, and offices above them. There are now plans for another 90,000 sq ft of offices and retail units - the scheme has completely altered the face of the town.” The firm is known for its successful development at Stonebridge where the first phase of office developments have already been almost completely let. Michelle says: “We’re delighted with the design and the quality of the buildings, which is very high due to grant funding from NWDA and
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Michelle Taylor Movers & Shakers
Taylor File Education: Land management at Leicester Polytechnic First job: Wimpey Homes, Liverpool Career progression: Joined John Laing in Manchester in 1985 before moving on to St Modwen in 1992. Top tip for success: “Communication is key. It’s fundamental to everything in this job.”
Liverpool Vision who invested substantially in the landscaping and infrastructure. The first tenants have moved in, and that’s been a real success.” The firm’s success is, as Michelle puts it, down to
communication: “We talk things through between the directors of the different regions at our monthly meetings, and that’s where we find a lot of the solutions. Our chief executive travels up here to see the
sites and to meet those in the public sector agencies, and so we stay very much involved in the areas and specific sites; we keep on delivering and I keep on enjoying what we do. There’s a lot of personal satisfaction
in this job.” This year, the firm will be pushing ahead with consultations and proposals for Skelmersdale, in full consultation with the local authorities and public sector, and land acquisition will begin for the successful regenerative scheme. The plans are set to be announced within the next two to three months. The recently and continuing problematic economic climate is not set to frustrate St Modwen’s plans, however. Says Michelle: “I think that, clearly, the economic climate is set to be difficult for the next few years, but being in regeneration means that we’re used to working in difficult circumstances; essentially we’re always addressing a failure of one sort or another. We’re used to working around problems, and to working with the public sector, luckily, and that means we are chosen to deliver on, and we’re good at, public partnerships.” The company’s recent flotation on the stock market also raised some allimportant equity for future schemes, totalling £100million: “That left us in a very strong position to go forwards, and what we want to do is to continue in this vein, expanding our relationships with local authorities and our activities with those local authorities we already work with, and look for new development opportunities.” It seems then that the Saints are certainly set to keep on marching in.
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On the horizon The north-west witnessed an incredible influx of commercial developments in the latter half of the last decade. A raft of ambitious projects have resulted in sweeping changes to the region’s landscape and sparked an upturn in economic confidence which has gone some way to offer resistance against the rocky seas of the recession. Move Commercial canvassed the opinion of the region’s commercial development experts to consider what 2010 will hold. In light of the national debt, question marks surround the future availability of public sector funding for new developments, but there are still a number of major schemes proposed for the region in the New Year. At Salford Quays, Peel’s ambitions for MediaCityUK will begin to be realised with the progress of phase one of the development, while few cities have witnessed a greater transformation than Liverpool over the last few years and development will continue in the form of projects such as St Paul’s Square, providing the city with over 100,000 sq ft of new Grade A offices. Tim Garnett from CBRE commented: “These are positive signs for the long term sustainability which shows where Liverpool has got to as a location. Attracting such significant investment during one of the worst 32 MOVE COMMERCIAL
recessions in a generation should not be underestimated. In addition future developments earmarked include regeneration of St James Street and The Strand, the new offices on Pall Mall and the new law courts but it is still unclear what the precise timescales will be to see these come to fruition.” Longer term projects are unlikely to be as affected by the recent changes in the property market as new schemes. Peel Holdings' Liverpool and Wirral Waters schemes are likely to be drawn up without any major changes to the masterplan of creating a successful mixed-use waterfront. Downing, who specialise in student accommodation in Liverpool and Leeds, believe the market will see growth in that sector. Senior agency surveyor Robin Ellis commented: “We will
be particularly active in the student accommodation sector as student numbers are increasing against a shortage of accommodation. Universities will look to invest in their accommodation facilities to attract more students.” Stuart Keppie, a partner at Keppie Massie Commercial, also believes the student sector will be buoyant, while commenting: “What we expect for 2010 is the re-emergence of the small office market and a period of consolidation in the market generally, albeit with potentially low activity from the public sector. At the moment the market is polarised by the high end and the lower end. The middle order is suffering, as it seems in most sectors.” CBRE’s Tim Garnett believes
prospective tenants should take advantage of moderate lettings rates in 2010. He commented: “In the long term if Liverpool is to be a major success it needs to achieve rent levels that make investment sustainable. Rent levels have certainly been under pressure during 2009 and we do not envisage the situation changing dramatically into 2010. The underlying occupier market remains weak, despite the higher than average take-up. There certainly has been no better time for occupiers to relocate and upgrade their accommodation with significant incentives currently available.” Following the successful renovation of prime office accommodation such as the Three Graces, significant refurbishment schemes are likely to continue
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Market predictions for 2010 Feature
apace in Liverpool, with projects such as 1 Dale Street, Exchange Flags, 43 Castle Street and One Derby Square. The continued supply of high quality offerings from established developments will help make up the shortfall from any drop in the rate of new developments. Bruntwood’s Colin Forshaw commented: “There are so many existing iconic buildings already in the city and once redeveloped they continually surpass anything new.” A common sentiment among development specialists is that there will still be a requirement for further speculative developments due to the existing high demand for office space across a broad range of sectors. Many also believe that office rental values will rise in 2010. Bruntwood hope the prime office space on their portfolio,
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There certainly has been no better time for occupiers to relocate and upgrade their accommodation
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such as that on offer at Station House, Altrincham, continues to attract new tenants. Sales director Colin Forshaw commented: “Office lettings will have a good start to the year as demand has increased significantly at the end of 2009. Rents will remain static but incentives will reduce back to a more mundane level as supply decreases.” Funding for new developments is still likely to flow from the public purse to some extent, with the Northwest Development Agency pledging £50m for ‘urban regeneration’ in the region. The body recently pledged £2.1m to developers Langtree for the Garden Festival site in Liverpool, with a further £1.6m expected from the Northwest European Regional Development Fund for that scheme.
Langtree, who specialise in outof-town business parks across the north-west, will be hoping competitive rents in out-of-town facilities continues to act as an attractive proposition across a broad range of sectors, following six successful lettings at the centrix@newton business park at Newton-le-Willows. The success of facilities such as The Rack, in Deacon Park, Knowsley, also lends some New Year optimism to outof-town developers. With the world economy in a delicate state, it is likely 2010 will be a year of consolidation for the region’s commercial property sector, rather than one of sweeping changes. However, with large-scale ambitious projects on the horizon it is evident that tentative progress will continue to be made. MOVE COMMERCIAL 33
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In the spring of this year discount retailer TK Maxx is scheduled to re-locate from its Liverpool Parker Street branch to the former George Henry Lee building in the heart of the city centre. The retailer will occupy the Church Street entrance of the famous site, following an earlier move by Liverpool firm Rapid Hardware to re-locate to the back of the old department store. The moves represent a fresh start for a building synonymous with Liverpool retail.
Bright future in store Originally established as a bonnet warehouse in 1853, the name George Henry Lee has become entrenched in the fabric of Liverpool. The business, founded by Henry Boswell Lee, prospered and grew from its Basnett Street locale, eventually developing into a popular department store. By 1910 the company had over 1,200 employees and reflected its prosperity by reconstructing the building’s façade with Edwardian marble pillars. In 1940, then owner Gordon Selfridge sold the store, together with the other 14 stores in his Provincial Stores Group, to the John Lewis Partnership, which itself had been long established since its founding as a draper’s shop in London’s Oxford Street. The neighbouring former Bon Marche department store, founded in 1878, was eventually acquired by the John Lewis Partnership in 1961, who decided to merge it with George Henry Lee, creating a store spanning two buildings. Ever since, the names of George Henry Lee and John Lewis have been intertwined in Liverpool, even after the store reverted to the John 34 MOVE COMMERCIAL
Lewis name in 2002 – a change which sparked a £7m refurbishment of the store. In fact, John Lewis’s relocation to a 240,000 sq ft bespoke site in the Liverpool One development in May 2008 still hasn’t stopped some local shoppers affectionately referring to the store as “Lee’s”. John Lewis’s decision to relocate from a Liverpool institution had initially put the future of the building in some doubt. Bristolbased CODA Architects had drawn up multi-million-pound plans for a major refurbishment of the George Henry Lee site, which included a new glazed link between the two department store buildings and a total refit, including roof level extensions. Eventually however, John Lewis opted for short term improvements to the historic building, ahead of a switch to Grosvenor’s £1bn Liverpool One development, significantly increasing their footfall, visitor numbers and sales figures in the process. John Lewis reported record sales for Christmas 2009 with total sales up 16.4 per cent from 2007 and like-for-like sales
up 10.4 per cent. This was helped in no small part by the success of the Liverpool store, which has proved one of the major draws of the Grosvenor development. The elegant, airy modernity of the Liverpool One store contrasts somewhat with the grand tradition and detailed interior of the George Henry Lee building which made it a favourite with Liverpool shoppers. The original mahogany and brass doors currently welcome visitors to Rapid Hardware from the Williamson Square entrance and it is likely the prestige of the site helped to attract its future occupants. Following long-term negotiations, local family firm Rapid Hardware eventually agreed a move to the historic site in 2007, with the business citing the prime city centre position as key to its continued success. Rapid, which established itself in the city in 1971, made the switch last year and have fully refurbished 100,000 sq ft of their new home. A further 60,000 sq ft is scheduled to open in the coming months, with Rapid having managed to
maintain the atmosphere of the old department store and even feature a café – a familiar sight to experienced George Henry Lee shoppers. In keeping with Liverpool’s retail merry-go-round Grosvenor bought up Rapid’s large Renshaw Street home last year. Although discussions have taken place with interested parties, Grosvenor has yet to announce firm plans for the future of the building. Rapid’s move followed lengthy consultation, as a number of other parties had expressed interest in the site, both as a permanent or temporary space. Quiggins, which housed a collection of small ‘alternative’ retail units, had hoped to relocate to the George Henry Lee building following the compulsory purchase of their premises for the Liverpool One development, but despite the multi-million pound backing of the Wirral-based Reddington Group, that move failed to materialise, as traders feared falling behind the competition in the revamped city centre. Church Street-based Marks &
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George Henry Lee Founding Building
Spencer had long been expected to temporarily occupy the George Henry Lee building while a £22m refurbishment of their neighbouring home was carried out. Instead the retail giants opted to continue with its refurbishment and expansion while continuing to trade from the same site, leaving half of the old George Henry Lee building vacant with no prospective tenants forthcoming. TK Maxx’s decision to relocate from their current store above Tesco Metro has secured a vibrant future for one of Liverpool’s most recognisable buildings. The US retailer, which arrived in the UK as TK Maxx in 1994, will occupy 30,000 sq ft over three storeys in a move that will create new jobs in the process. Unlike John Lewis, TK Maxx and Rapid Hardware may not be the clarion call of middle class high street shopping, but their burgeoning popularity is likely to maintain a flow of custom to a building that’s been thriving in Liverpool city centre for more than 150 years. MOVE COMMERCIAL 35
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Drinks with a perspective Key events
Party at The Plaza By Lucy Oliver lucy@movepublishing.co.uk
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Halliwells LLP and Bruntwoodâ&#x20AC;&#x2122;s Christmas drinks for clients saw the Liverpool branch of the law firm and the north-west based developer mingle with associates and guests on the ninth floor of The Plaza on Old Hall Street. Drinks were served in
the office suite overlooking the city, as property professionals and invited guests took time to reflect on business in 2009 and look forward to the year ahead.
1. Colin Forshaw, Bruntwood, and Kevin Lee, Halliwells
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2. Liam Thomas, Jessica McGoldrick, Kate Moore and Alison Ledger, Halliwellsâ&#x20AC;&#x2122; trainee solicitors 3. Robin Ellis, Downing, with Tim Garnett, CBRE, and Robin Evans, Matthews & Goodman 4. Michael Griffiths and David Baker, Edward Symmons 5. David Gwynn, WEM, and Chris Hennessy, Edmund Kirby
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6. Sarah Hegarty, Halliwells, with Gavin Garner, WCP Associates, and Alex McCann, Halliwells 7. Jane Janvier, Richard Capper, Paul Spence and Paul Smith, Halliwells 8. David Seddon and Jane Yates, Bruntwood, and Sam Hodgkinson, Halliwells
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9. Paul Parker and Andrea Shore, Edward Symmons 10. Donna Downey, RBS, with Nick Pye, Halliwells 11. Stuart Keppie, Keppie Massie, and Kevin Lee, Halliwells 12. Tony McDonnell, Halliwells, and Nigel French, Sutton Kersh MOVE COMMERCIAL 37
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Key events Waterfront refurbishment
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2 1. Tim Frankland, Philip Westwood and Mike Gardner (Claremont Interiors) 2. Liz Farmery, Patrick Ames, Ken Bundy (Claremont Interiors) and Neil Tague (Insider)
Royal Liver’s proud entrance By Lucy Oliver lucy@movepublishing.co.uk The transformation of the West Entrance Atrium at Liverpool’s waterfront landmark, the Royal Liver Building, has been completed by Claremont Interiors. Tenants and guests enjoyed a networking event with music and
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refreshments in the newly refitted interiors, which also saw the building’s north and south corridor refurbished. Designed to create a sense of arrival and complement the iconic building as a whole, the refurbishment work combined sensitive preservation of the original features with modern technological advancement.
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3. Philip Westwood (Claremont) and Mark Worthington (CBRE) 4. Darren Boyd-Preece, Pat Mahon and Chris Hornsby (Pershing) 5. Jennifer Swadon played piano and sang 6. John Brown (Knight Frank) with Robin Evans (Matthews & Goodman) and Darren Hill (CBRE)
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7. Tony Dowling (USS) and Peter Fane (Royal Liver Group) 8. Emma Weeden, Emily Sandwith and Brian Lowdon (Claremont) 9. Sharron Buckley and Janis Howard (Royal Liver Group) with Dr Emmanuel Matan (Matan International Group) and Gillian Buckles (Royal Liver Group) 10. Stuart Macglashan and Alan Holcroft (Mott Macdonald)
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11. Stuart Keppie and Tony Reed (Keppie Massie Commercial) 12. Peter Fane (Royal Liver Group), and Sue Sloan (Claremont Interiors) 13. Lester Smith (CCS Consulting), with Ian Goodwin and John Valentine (CS2 Surveyors) 14. Kevin Mulligan and Chris Thomas (Core Design) 38 MOVE COMMERCIAL
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Liverpool in a building Suites available from 2,000 sq ft • Open-plan, flexible and efficient floor-plates • Generous finished floor to ceiling height of 2.9m • High level of natural light • VRV/VRF heating and cooling system • Suspended ceiling • Fully accessible raised floors (150mm clear void) • PIR sensored LG7 lighting (400 lux)
The place to do business, the place to be seen...
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Wheels and fortunes Attracting inward investment has been declared a priority for the Liverpool City Region, whilst building on sporting success has been flagged up for Manchester. Certain attractions are boosting tourism in the two cities and so we investigated whether investing in bigger observation wheels could boost the region. Liverpool One Wheel Location: Chavasse Park, Liverpool One Operator: The Mellors Group Built: November 2009 Designer: Mondial, Holland Height: 80m Cost to build: £5m to purchase before installation costs at each venue Number of pods: 42 gondolas Status: Temporary wheel over Christmas period 2009 (November until January), but as of the beginning of January 2010, over 4,500 people had petitioned on Facebook to keep the wheel in place at Liverpool One for longer. Ambition: To attract more Christmas Liverpool One’s wheel
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shoppers to do their shopping in Liverpool One and to eat on the restaurant terrace. Company aims and ambitions: The wheel from Liverpool One will relocate to Nottingham and The Mellors Group hope to bring other events to the city, including a beach similar to that in the Nottingham Riviera event. They also operate the country’s largest portable rollercoaster. Company comment: “Liverpool has such a prominent skyline and for a wheel to work there it has to be elevated. Ours, on top of the park, has amazing views and we would love the wheel to stay there longer.”
Revenue injected into economy: This was a no risk project for Grosvenor, and it is sure to have boosted Liverpool One’s sales. However, in the retail rush before Christmas, seasonal sales must also be taken into account. The footfall increase at Liverpool One rose by 48 per cent, when comparing 2009 with 2008. Other attractions at the site to factor in include new store openings before Christmas, the Ice Palace and the special 3D Christmas screenings. Verdict: The wheel used space well and looked fantastic by day and night from many parts of the city.
Manchester wheel
Wheel of Manchester Location: Exchange Square, Manchester city centre Operator: Great City Attractions (formed in 2009 when two global leaders in observation wheels WTA Holdings Ltd UK and GWC Holdings Pte. Ltd Singapore combined their business.) Built: Installed 2005 Designer: Reynold Bussink Height: 60m Cost to build: £7.5m euros Number of pods: 42 Status: Permanent Ambition: To attract tourists to the city centre. Revenue injected into economy: No official figures released but expected to be substantial. The project was supported by Manchester’s official bodies from the outset. Company operators say: No comment on this wheel, or the proposed wheel for Piccadilly Gardens while it is being considered by the Manchester City Council’s planning committee. Verdict: This rival to the London Eye is a popular alternative to visiting the capital and has been a success story from the start.
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Rounding up revenue Focus Singapore Flyer Location: Raffles Avenue, Singapore, to offer views of Marina Bay Operator: Great City Attractions Built: Finance secured in September 2005. Opened in April 2008 Designer: Dr Kisho Kurokawa of Japan and DP Architects Height: 165m Cost to build: Figure unknown Number of pods: 28. A revolution takes 30 minutes. Status: Permanent Ambition: To create an iconic wheel, the tallest in the world, in a prominent waterfront position.
Revenue injected into economy: No figures available, but this has certainly proved to be a longanticipated and welcome addition to the Asian skyline and to the local economy. Tourist deals including a drive, a fly, and a meal in a local restaurant prove popular, and the wheel is often a host for events. Verdict: Standing proudly as the tallest wheel in the world (the Star of Nanchang in China at a close second stands at only 135m) no other wheel comes close to this wheel’s height and presence.
London Eye
Singapore Flyer
Proposed ‘Monster Wheel’ Location: Piccadilly Gardens, Manchester Operator: Great City Attractions Built: The scheme has been proposed and is currently with the planners Designer: Same as the current wheel Height: 80m – to dwarf the present wheel Cost to build: No figures available Number of pods: Figure unknown Status: Permanent Ambition: No comment was made by the operators on this project, as it is awaiting planning approval. Revenue injected into economy: This will depend upon the size and scale of the wheel being approved and whether the company need to alter their plans. Unless the scheme is allowed to go ahead with the full 80m height however, it is unlikely to attract public attention. Verdict: This new wheel is sure to divert attention from the first and smaller Manchester Eye, and even with more pods the revenue generated is unlikely to match or exceed the outlay for some time in the present climate.
London Eye
Location: Westminster Bridge Road, London Operator: The London Eye Company, part of the Merlin Entertainments Group Built: Opened in 2000 Designer: David Marks and Julia Barfield, dynamic husband and wife duo Height: 135m Cost to build: Additionally, since its opening it has also seen £12.5million in investment to improve and maintain the wheel. Number of pods: 32. A revolution takes 30 minutes. Customers: Merlin Entertainments say an average 10,000 every day. Status: Permanent Ambition: The wheel has been a
commercial success story and a huge boost to the capital’s thriving tourist offer. Revenue injected into economy: Difficult to measure extra revenue injected into the capital specifically from the wheel, but expected to be considerable – and certainly a boost for that side of the river. Verdict: The London Eye has been a notable success story since its opening, spurring on the development of other long term observation wheels to showcase views of the UK’s prominent buildings. Subsequent investment has helped to maintain standards and few would argue a more popular site than riverside London for an attraction of this magnitude.
Albert Dock Wheel, Liverpool Location: Liverpool Arena Operator: Great City Attractions Built: February 2010 Designer: R60 Height: 80m Cost to build: No figures available at this stage Number of pods: 40 gondolas (not enclosed pods) Status: Temporary for 12 months Ambition: To attract interest at the Albert Dock and sustain the restaurant trade. Revenue injected into economy: This is a no risk project for the arena, and sure to attract people to the area who may then stay or return for the restaurants and shows. Verdict: The wheel is set to offer great views, and will attract people to the docks, but whether its popularity will rival the wheel at Chavasse Park remains to be seen.
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Expert views Ask the panel
Could a joint stadium work for Merseyside’s football teams? With the Kirkby plans rejected, the subject of a new stadium for Everton or a joint stadium to be built for Liverpool’s Reds and Blues is back on the agenda. What are the precedents, and could a shared sporting arena work for a north-west city? “It shouldn't even be on the agenda, both clubs are too different and have specific requirements from a stadium. Liverpool would require more of a theme park, fairground rides, fast food outlets and as many shops as possible to buy scarves. Evertonians would be happy with a shiny replica of Goodison, no columns and quicker pumps behind the bar.” Colin Forshaw, sales director, Bruntwood “A shotgun wedding? Italian clubs commonly share stadiums but Inter are planning to leave the San Siro to AC Milan and Lazio recently announced plans to part with Roma. At the excellent Allianz Arena, TSV 1860 struggle with landlords Bayern Munich. Liverpool wouldn't want to compromise opportunities afforded by their own ground, such as naming rights, and I wouldn't blame Everton for rejecting any junior partner status.” Paul Falconer partner at Falconer Chester Hall
“A joint stadium makes real financial sense for the clubs and the city. There is no money in building football grounds so a shared solution is the only way forward. Merseyside stands to benefit from a large capacity stadium but it will require strong, dynamic leadership from both clubs to make this happen. Football does carry a lot of emotion but it’s also a business and so feelings must be put aside for the long term financial stability of both teams.”
"Of course a joint stadium could work. The problem is convincing the fans of both teams and the management of Liverpool FC in particular. The views of the fans should not be dismissed too lightly. It is often said that a club’s management team are merely temporary custodians - the soul of a club is owned by the fans. But why not be the first to make a joint stadium really work and lead the world?"
George Downing, chairman of Downing
Kevin Lee, partner, Halliwells
“It is obvious the clubs can’t fund the sort of investment required for individual new stadia and a centrally located joint stadium is eminently sensible. In this current economic climate I see few viable alternatives. Can Liverpool or Everton, or for that matter the region really afford to wait another 5-10 years treading water?” Tim Garnett, senior surveyor, CBRE Liverpool
“ ”
Football does carry a lot of emotion but it’s also a business and so feelings must be put aside.
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MPF Seasonal Gathering Key events
Property networkers' festive lunch By Lucy Oliver lucy@movepublishing.co.uk The Merseyside Property Forum’s annual Christmas lunch took place at John Mac’s private club in December, with festive drinks and a three course meal on for guests to reflect on the past year, and look ahead to 2010. Drinks were sponsored by Move Commercial and Rumford Investments.
1 1. Move Publishing directors Kim O’Brien and Fiona Barnet
4
5
4. David Sayer (GVA Grimley) and Alastair Newman (Rumford Investments) 5. Andrew Owen and Chris Connor (Mason Owen)
2
3 2. Chris Hennessy (Edmund Kirby) and Mike Stares
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6
(Rumford Investments) 3. Andrew Owen (Mason Owen) and William Coleman
6. Robin Evans (Matthews & Goodman) with Mark Worthington (CBRE)
(Rumford Investments)
7. Tony Reed (Keppie Massie) and Mark Chadwick (Professional Liverpool) MOVE COMMERCIAL 45
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Managing Director Neil Waddington
In the spotlight Neil Waddington is the managing director of Warrington-based Prospect (GB) Ltd, one of the UK’s fastest growing property investment and development companies. Neil is responsible for Prospect’s national portfolio, which comprises both commercial and residential property, including the Meridian and Broadway flagship developments in Liverpool and Salford respectively. What led you into your current role? I was attracted by the interesting mix of property development and investment, and of commercial and residential schemes. I thought that it would be a role of real variety and I was right. The pedigree of the company also appealed, being part of one of the UK’s largest registered social landlord housing organisations, The Riverside Group. What are you working on at the moment? I’m currently working with our team to promote our existing developments, especially Meridian Business Village in Hunts Cross, Liverpool, and the Broadway apartments in Salford Quays. Both are doing well, especially in light of the current economic climate, and I think that this success is due to a lot of factors, not least that they are both in great locations. What are your plans for the north-west? My long-term goal is to expand our investment portfolio, and to include a further two or three 46 MOVE COMMERCIAL
residential developments across the region. In the short-term, the focus is of course to secure full occupation of our live developments, and with this in mind, we have recently appointed two on-site property marketing specialists to help promote Meridian and Broadway. What does your daily routine involve? My alarm is set for 6.40am, and following a shower and breakfast, I am usually on the road for just after 7am, and in the office for around 7.30. With our sites spread throughout the North and Midlands, meetings are a mix of teleconference, as well as face-toface, which I prefer. I sit down regularly with our managing, sales and letting agents. Also, I work closely with our new Meridian marketing manager, Tony Straw of Rees Straw, meeting potential buyers and tenants. I need lunch at 30 seconds past 12, and this is usually a sandwich at my desk. Enjoying the job means that the afternoon usually flies, and before I know it I am on my way home,
with a 15 mile drive that takes twice as long as in the morning!
developments. We’re doing very well to date.
What do you like most about your job? The variety of responsibilities and developments makes for a very interesting job. And I’m lucky to have the support of a strong team of people who I enjoy working with. If I had to design the perfect job, this would be it, really.
How would your colleagues describe you? I’d like to think that the words “dangerous” and “exciting” would be used, but realistically, I think they would say that I am steadfast and capable.
What have been the highlights of your career so far? Since I embarked on my career in property, I’ve always had ambitions, and as I achieve each one of those, I get a tremendous sense of fulfilment. It was great when I first secured a directorial position, and then again when I reached the level of MD. What are your ambitions? Professionally, to grow the Prospect portfolio. Personally, to continue to enjoy my career. What are your challenges for the coming year? To fully occupy our live
How do you like to unwind? Walking weekends at my cottage in the Yorkshire Dales.
FACT FILE BORN 1967 PLACE OF BIRTH Grew up in Cleethorpes, Lincolnshire EDUCATION Lindsey School, Cleethorpes, and Manchester University FIRST JOB Assistant development manager, Barratt Special Projects Ltd TOP TIP FOR SUCCESS Do what you enjoy
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