p01-18_Move Commercial 13/10/2014 16:33 Page 1
LIVERPOOL CITY REGION CHESHIRE MANCHESTER
OCTOBER 2014
FREE
MOVE COMMERCIAL The north-west’s guide to property and business
Issue 41
The final destination A new lease of life for Manchester’s Corn Exchange
Supplying demand Office developments around the region
An eventful month for MSP
Tomorrow’s talent Investing in skills for the industry
www.movecommercial.com
p01-18_Move Commercial 13/10/2014 15:52 Page 2
Expect to be inspired Like surprises? This is a nice one… a place to work that thinks beyond the desk. Not that the VMÄ JL ZWHJL PZU»[ SV]LS` 0[ PZ )\[ P[»Z [OL ZWHJL [OH[ Z\YYV\UKZ P[ ;OL J\S[\YL P[»Z WHY[ VM HUK [OL ILULÄ [Z MVY `V\Y JVTWHU` [OH[ THRL [OL KPMMLYLUJL ( WSHJL ^P[O [OL HIPSP[` [V JYLH[L ^OH[ [OL` call a healthy work life balance. ;OLYL»Z HSZV H ZLH[LY H\KP[VYP\T ^P[O ZV\UK ZV NVVK ^L ZJYLLU Ä STZ H[ UPNO[ >L»]L NV[ LPNO[ TLL[PUN YVVTZ ^P[O HSS [OL SH[LZ[ (= LX\PWTLU[ (UK ^P[O NYLH[ JVMMLL :[HYI\JRZ KVU»[ `V\ RUV^ HUK H NYLH[ [LHT [V SVVR HM[LY `V\ OVWLM\SS` [OL PKLHZ ^PSS [HRL JHYL VM [OLTZLS]LZ >L»YL YPNO[ PU [OL TPKKSL VM [OL 5VY[O >LZ[ ^OLYL [OL 4 JYVZZLZ [OL 4 :THJR IHUN IL[^LLU 4HUJOLZ[LY HUK 3P]LYWVVS ¶ ZV ^L OH]L H NYLH[ JH[JOTLU[ HYLH MVY YLJY\P[TLU[ LHZ` HJJLZZ [V [OL YLNPVUHS [YHPU SPUL HUK HSZV [V JSPLU[Z 0U [OL YPNO[ ZWHJL P[»Z WVZZPISL [V SP]L ^LSS LH[ ^LSS HUK ^VYR ^LSS 0M `V\ [OPUR ^L TPNO[ IL [OL YPNO[ ZWHJL MVY `V\Y I\ZPULZZ ^O` UV[ NL[ PU [V\JO& >L»K IL OHWW` [V ZOV^ `V\ YV\UK
01925 851 536 / www.birchwoodpark.co.uk 1VULZ 3HUN 3H:HSSL ), .YV\W
p01-18_Move Commercial 13/10/2014 12:25 Page 3
MOVE COMMERCIAL
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p01-18_Move Commercial 13/10/2014 12:25 Page 4
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p01-18_Move Commercial 13/10/2014 16:56 Page 5
Issue forty one Move Commercial
Contents News 06 Regional round-up 07 Economic upturn boosts flexible offices 08 Rochdale office named best in Britain 09 Cabinet to discuss multi-million pound Preston Bus Station refurbishment 10 ‘Sustained lettings activity’ continues at Hunts Cross site 11 Falconer Chester Hall expands into Asia
Features
26
Welcome to Move Commercial As we enter the final quarter of what has been an active year for commercial property, this issue of Move Commercial takes a look at the developments taking place across the region and how the industry can continue to thrive. In a special report, we explore what it will take to nurture the next generation of industry talent and provide the necessary skills, and we catch up with the companies arguing the case for corporate responsibility.
Plus there’s an up to date round-up of some of the region’s diverse office schemes which are currently being built as cranes return to our skylines, and we find out what the future holds for Manchester’s historic Corn Exchange. If that’s not enough, we’ve packed pages with the latest news, views and expert analysis and we catch up with some of the industry’s biggest and brightest names in the North West.
23 LIVERPOOL CITY REGION CHESHIRE MANCHESTER
MOVE COMMERCIAL
Issue 41
The final destination A new lease of life for Manchester’s Corn Exchange
Supplying demand Office developments around the region
An eventful month for MSP
42
OCTOBER 2014
FREE
The north-west’s guide to property and business
36 move publishing ltd Advertising Director Fiona Barnet. Tel: 0151 709 3871 Advertising Manager Catherine McCarthy. Tel: 0151 709 3871 Editor Christine Toner. Tel: 0151 709 3871 Editorial Team Natasha Young and Stephen Hurrell. Tel: 0151 709 3871 post@movepublishing.co.uk
Design Mark Iddon. Email: mark@movepublishing.co.uk Published by Move Publishing Ltd Directors David O’Brien, Kim O’Brien, Fiona Barnet Printed by Precision Colour Printers Ltd Distribution Liaison Manager Barbara Troughton Tel: 0151 733 5492 Mobile: 077148 14662 Credits: Peter Kelly – Mover & Shaker, Lunch Date, Key Event (JB Leitch), Key Event (MSB)
Tomorrow’s talent Investing in skills for the industry
www.movecommercial.com
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.
13 Opinion Will FCA regulation ever reach commercial mortgages? 16 Bitesize Thinking Food for thought 18 Appointments Who’s moving where? 21 Key Event JB Leitch launches Duke Street office 23 My Month Thomas Renn, associate commercial director at Manchester Science Partnerships, reflects on a busy month 24 Founding Building Breathing new life into Manchester’s historic Corn Exchange 26 Supplying Demand Office developments underway across the North West 28 Special Report: The Next Generation Boosting industry skills for tomorrow’s talent 32 Business Clinic Advice from our expert panel 36 Mover & Shaker Kerrie Norman, director, Flinders Chase 38 Here for good? The case for corporate responsibility 40 Key Event Celebratory evening for MSB Solicitors 42 Lunch Date Lunch with Paul Jasper, managing director of Coresafe Consulting 43 Secrets to Success
Bridging Finance Solutions’ Steve Barber reveals all 45 Event Planner
What’s on around the region 47 Ask the Panel
What do we mean by the term ‘smart city’ and how can the North West become a world leader?
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Around the region News in brief M6
M65
BLACKPOOL
M65
This issue of Move Commercial brings you up to date on the latest commercial property and business news around the region.
PRESTON BLACKBURN
M65
SOUTHPORT
M6
From award winning projects and company expansions to new developments and sales and lettings deals, our packed news section covers the biggest stories from across Merseyside, Cheshire, Greater Manchester and Lancashire.
M61
ROCHDALE
BOLTON ORMSKIRK
SKELMERSDALE WIGAN
OLDHAM
M58
M57 KNOWSLEY
MANCHESTER
M6 ST HELENS
M62
LIVERPOOL STOCKPORT BIRKENHEAD
WARRINGTON
ALTRINCHAM
M53
M6 ELLESMERE PORT
M56 MACCLESFIELD
CHESTER
> ROCHDALE
> PRESTON
> WIRRAL
> LIVERPOOL
Office building named best in Britain
Cabinet to discuss bus station plans
Development land brought to the market
Malaysia expansion for architect
Site takes The British Council for Offices’ top title.
Meeting to consider multi-million pound refurbishment.
Heswall land plot expected to attract developers and investors.
North West opens up Asian opportunities for Liverpool-based practice.
>> Read More on Page 8
>> Read More on Page 9
>> Read More on Page 10
>> Read More on Page 11
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Latest News
Glendale celebrates staff success
Economic upturn boost for flexible offices
Port of Liverpool building
A “resurgent” economy has increased the rate of startups expanding their office space in Liverpool, according to businesses using flexible office spaces in the city. Downing, which has flexible office space in the Port of Liverpool building, No.1 Old Hall Street and Graeme House, says three tenants using its spaces have expanded their offices in recent months. Construction and property recruitment consultants Building Careers has expanded from 750 sq ft at No. 1 Old Hall Street to 1,090 sq ft, leading the firm’s managing director Carl Donegan to attribute the business’ success to the “positive impact of the resurgent economy”.
Business consultancy Quantum of Value has increased its space from 1,000 sq ft to 1,300 sq ft at the Port of Liverpool building, while Counselling Training Liverpool Ltd has added 300 sq ft to the 700 sq ft of space it took in January 2014 at the same site. Robin Ellis, senior agency surveyor for Downing, says: “The upturn is proving beneficial for businesses across the board and it's great to be working with these companies and helping to provide them with office accommodation which perfectly matches their businesses' needs at all stages of their journey." For more information on Downing’s flexible office space visit www.downing.com/flexi-offices
Glendale Liverpool, part of Glendale Managed Services Ltd, is set to recognise the achievements of its staff in a stunning ceremony at Liverpool Town Hall next month. Over 150 Glendale staff and guests will attend the ceremony on 27 November where awards will be presented for categories including Apprentice of the Year and Personal Commitment. VIP guests including Mayor of Liverpool Joe Anderson will also be in attendance. Peter Cosgrove, general manager at Glendale Liverpool says: “We understand that a company is only as good as its employees and here at Glendale Liverpool we’re lucky enough to have some of the most committed, hard-working and loyal staff around. “Our annual awards aim to give staff the recognition they deserve and this year’s ceremony, held at such a prestigious venue, is set to be bigger and more impressive than ever.” Glendale Liverpool offers two types of apprenticeship - a pre-apprenticeship scheme, open to 16 and 17 year-olds who are not in employment or education and a full five-year apprenticeship. Cosgrove adds: “At Glendale we’re committed to developing the next generation of workers within the green services industry and we recognise the importance of motivating young people to achieve their full potential.” Glendale Liverpool is a joint venture company established in 2006 and owned by Liverpool City Council and national green services provider Glendale Managed Services Ltd.
Judging now underway for Your Move Property Awards The judging process is underway for this year’s prestigious Your Move Property Awards. Organisers have received a high standard of entries ahead of the glamorous 6 November ceremony, which will recognise the Merseyside property industry’s brightest talent and greatest achievements throughout 2014. This year Alastair Shepherd, director of Liverpool-based architects Falconer Chester Hall, is joining the panel of esteemed judges alongside long-standing members Eric Wright from Hitchcock Wright and Partners, Elaine Cunningham and Lesley Martin-Wright. Shepherd takes the place of former judge Adam Hall, the managing director of Falconer Chester Hall, who is currently focusing on the firm’s expansion into Malaysia. With experience in delivering large scale regeneration projects across the North West and
further afield, affordable housing, student accommodation and commercial schemes, he brings a wealth of experience to the panel. Ahead of the event at Lutyens Crypt, which will follow the theme of ‘gold’, Move Publishing director Kim O’Brien says: “We’re delighted to welcome Alastair Shepherd to the panel for 2014, which has been a fantastic year for the property market, and would like to thank outgoing judge Adam Hall for generously dedicating his time and expertise over the years. “2014 has brought plenty for the industry to celebrate and, with tickets selling out in record time, this year’s ceremony is going to be bigger and better than ever.” Awards will be presented across a host of residential and commercial categories on the night. For more information visit www.yourmovepropertyawards.co.uk
Alastair Shepherd MOVE COMMERCIAL
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News Latest
Joint venture forms for warehouse scheme A joint venture between Barwood Developments (North) and Potter Logistics will deliver up to 275,000 sq ft of warehouse space at a 16-acre site in Knowsley. The new joint venture has named the Knowsley Industrial Park site ‘Draco’ and plans to create units ranging from 25,000 sq ft to 150,000 sq ft for use as distribution and manufacturing space. Agents CBRE, B8 Real Estate and Fox Lloyd Jones have been appointed to market Draco and occupiers will be able to move in to the bespoke spaces in as little as six months. New tenants at the scheme will join existing occupiers at Knowsley Industrial Park
including Hermes, Capita, Matalan and QVC. The site is near to Potter Logistics’ rail freight terminal. Andrew Dickman of Barwood Developments (North) Ltd, says; “In addition to being within one of the North West’s most successful industrial parks, the benefits associated with Potter’s rail freight terminal will have significant appeal to occupiers. “In a market where there is now a serious lack of supply of warehouse and manufacturing stock certainty will be key, and our ability to deliver these units on an already allocated site will be well received by occupiers.”
The Draco site
Rochdale office named best in Britain Number One Riverside in Rochdale has been named the best office building in Britain by The British Council for Offices (BCO). The £42 million council headquarters took the top title after also being named top corporate workplace in the national section, where it was one of only three buildings to be honoured outside London. Richard Kauntze, chief executive of the BCO, says: “Number One Riverside, the 2014 Best of the Best winner, is the epitome of this with the confidence taken in its original brief and concept leading to Number One Riverside it becoming a new benchmark for semi-public buildings. All shortlisted and winning entrants should be congratulated on their efforts in continuing to showcase the impact intelligent office design can have to businesses.” The Sharp Project, a creative company office hub in Manchester, took the innovation title. The building, which offers space for start-ups and SMEs in the digital and production industries, currently has 54 companies based in over 250,000 sq ft of offices and is seen as a pioneer of flexible office space. The North of England, North Wales and Northern Ireland section was dominated by North West developments including Manchester Town Hall Extension, which was named best refurbished/recycled workplace and Exchange Station on Liverpool’s Tithebarn Street, which took the title for best fit out of a workplace.
North West buildings await Sterling Prize announcement RIBA will announce the winner of its prestigious Stirling Prize on 16 October, with two North West buildings among those in the running for the top title. The new incarnation of Liverpool’s iconic Everyman theatre, designed by Haworth Tompkins, and the major extension and refurbishment of Manchester School of Art, by Feilden Clegg Bradley Studios, will go up against fellow shortlisted projects including the Library of Birmingham, London Aquatics Centre, London School of Economics Saw Swee Hock Student 8
MOVE COMMERCIAL
Centre and The Shard. The highly regarded award, recognising the greatest contribution to British architecture in the past year, will be presented at RIBA headquarters in London. The week leading up to the presentation has also seen members of the public voting for one of the shortlisted buildings to win the People’s Choice Award. For more information about the RIBA Stirling Prize 2014, log on to www.architecture.com
Knowsley delegation heads to MIPIM UK Senior figures from the worlds of business, property and investment will travel to MIPIM UK in London to highlight the benefits of investing and visiting Knowsley. A delegation of ambassadors will be attending the first ever MIPIM UK event to raise the profile of Knowsley and highlight some of the development opportunities that are currently available in the region. Edward Perry, operations director for Knowsley Hall and Safari Park, and chair of the newly created Knowsley Place Board, says: “I am delighted to be part of the team representing Knowsley at MIPIM UK and having the opportunity to tell people what a great place Knowsley is. I will be keen to highlight our strategic location between two major cities, our track record for manufacturing and business success and the willingness in Knowsley to seize the opportunities available to us. “Getting Knowsley on the radar of some of the most influential figures in property really will help to position us in the marketplace and hopefully in turn attract investment and interest in our area.” Manchester and Liverpool will also send delegates to MIPIM UK, which is being held at Olympia, London from 15 to 17 October.
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Development News
Photo: Raymond Knapman (Creative Commons)
Cabinet to discuss Preston Bus Station refurbishment
Roof garden becomes latest addition to Cotton Quarter development
Preston Bus Station
Lancashire County Council will consider a multi-million pound refurbishment of Preston Bus Station during a meeting on 6 November. The council’s cabinet will discuss a report that will set out a series of proposals to support the improvements to the city’s bus station and the adjacent multi-storey car park. According to the statutory notice released by the council, the proposed investment will be more than £1.4 million if it is approved. However, this could rise to as much as £8.3m after the amount was earmarked in Preston’s £434m City Deal, which outlined a raft of
Bruntwood’s Blackfriars House roof garden
improvements to major infrastructure in the area. The bus station was built in the 1960s and was granted Grade II listed status in September 2013 after a campaign to save it from demolition. The ownership of the building was transferred from Preston City Council to the county council for £1 earlier this year and the improvements are necessary to secure the future of the listed building. The report will be discussed in the cabinet meeting in November, but a decision on the final funding proposals could take place at a later date, the council notes suggest.
Bruntwood has opened a new roof garden in the centre of Liverpool’s business district following the success of a similar feature at Manchester’s Blackfriars House. The 3,400 sq ft space at the Cotton Quarter development, which includes Cotton House, Cotton Yard and the Cotton Exchange, features lawns, refreshment facilities and designer furniture for year-round use. It aims to closely resemble the rooftop garden at Blackfriars House (pictured), which is used as a breakout space and networking arena, as well as a location for the firm’s outdoor events. Following a launch this month, Bruntwood is set to make the garden available to businesses in the complex, which includes a number of smaller firms in the digital and creative sectors after the Cotton Exchange was converted into an incubator hub. Colin Forshaw, head of property at Bruntwood in Liverpool, says: “The roof garden is intended to provide a distinctive breakout space to be enjoyed by our customers in the Cotton Quarter. “We are confident that its contemporary design and relaxed, exclusive atmosphere will make it a must-see destination in the commercial district and give our customers a distinct advantage when welcoming visitors.” The launch of the roof garden comes as over a dozen small firms have signed flexible leases in the building in the past 18 months, says Forshaw.
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News Sales & Lettings
‘Sustained lettings activity’ continues at Hunts Cross site Meridian Business Village
house in Tuebrook, Liverpool, will be offered to potential investors with a guide price of £150,000 plus and comprises a ground floor pub with four letting rooms above. The property produces a combined annual rent of £25,220. Auction manageress Cathy Holt says: “The catalogue offers a wide range of options to suit all budgets. It follows on from our successful September sale when 80% of the lots offered sold, generating proceeds of over £5 million.” The catalogue featuring all 94 lots for the October auction can be viewed online at www.suttonkersh.co.uk/auctionsproperty
A PLOT OF WIRRAL LAND which is primed for development is expected to attract interest from local and regional developers and investors as it goes up for sale. Rees Straw has been instructed to market the Heswall town centre site, which spans approximately 0.36 hectares and has planning consent for a two-block residential apartment scheme including 27 one and two-bedroom units. The land, located on Milner Road with retail and leisure facilities in close proximity, comprises the former Sandon public house and grounds. Will Rees, director at Rees Straw, says: “The apartment market is being reinvigorated following the downturn, and especially from investors seeking opportunities to enter the private rented sector. Demand for rental units remains strong, and particularly in locations such as this, where the retail and leisure facilities in the town are within easy walking distance. Heswall has always been a popular location, and values have been upheld by strong purchases and rental demand. “We expect the site to be of interest to the regional and local developer and investor marketplace.”
The plot comes with planning consent
Image courtesy of Calder Peel Architects
COMMERCIAL LOTS UNVEILED AHEAD OF PROPERTY AUCTION
10 MOVE COMMERCIAL
transport links. Chris Walker, head of Prospect GB’s commercial division, says: “Meridian Business Village has attracted companies of various types and sizes, from a range of sectors. “A number of enquiries have already been received regarding the three remaining units and prospective tenants are urged to contact joint agents, Keppie Massie and Hitchcock Wright & Partners, in order to secure their place at Meridian Business Village.” The remaining units vary from 1,313 sq ft up to 10,780 sq ft. For further information log on to www.prospectgb.com
Development land brought to the market
The Strand Road lot in Bootle
A Grade II listed Bootle property which currently provides office space is among the commercial offering being unveiled in Sutton Kersh’s October auction catalogue. The three-storey plus cellar building on Strand Road has a guide price of £80,000 plus, and has potential for residential conversion subject to planning. Other commercial lots which will be up for auction at the 30 October event, taking place at the Liverpool City Centre Marriot Hotel, include a ground floor 2,700 sq ft retail premises in the city’s Old Swan area. Guided at £150,000 plus, the site is described as being suitable for a variety of uses, subject to the usual consents. Meanwhile the Clifton Arms public
IT firm Aabyss Computers has become the latest tenant to let a space at Prospect Commercial’s Meridian Business Village, leaving just three units available at the site. The company is now occupying a 2,695 sq ft office at the development in South Liverpool’s Hunts Cross area following the deal, continuing what is said to be a “period of sustained lettings activity driven by the appeal of the location’s strategic advantages”. Meridian Business Village, where 19 of the 22 units have now been let, is located within a newly developed mixed-use area close to city centre, motorways and public
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Commercial News
North West has paved the way for architects’ Asian expansion
The £120m Shapadu scheme
Long-established success in the North West has helped Liverpool-based architects Falconer Chester Hall expand into Asia, according to director Alastair Shepherd. The practice, which has been operating in the city for almost 20 years and has since opened an office in London, is now undertaking a £120 million scheme in Kuala Lumpur having launched a base there. A planning application has been submitted for the mixeduse project, which will include a 150,000 sq ft headquarters for clients Shapadu – a major energy firm in Malaysia – along with a 300-bed hotel and 150 apartments, all underpinned by a retail mall. Shepherd highlights the practice’s extensive work in hotel schemes in recent years as a key part of Falconer Chester Hall’s growth and also this international expansion, saying:
“Our grounding in Liverpool, growing through two recessions, has helped us to focus on what really matters. We have seen the commercial market evolve through that time as well to become more service-based. “There are increasing overlaps with our hotel work, such as the quality of entrance spaces and more consideration about how a person is greeted. The best schemes are more personal.” Commenting on the multi-million pound Shapadu project in particular, Shepherd adds: “There is no doubt that the London office has been vital as a route into this scheme but it is the proving ground of the North West which equipped us to win this work. We now have an office on Jalan Binjai in Kuala Lumpur and the kind of modern, highly serviced accommodation we offer is creating further opportunities.”
Clearground celebrates successful year A commercial property cleaning company that has worked on Liverpool’s ‘Three Graces’ has rounded off its most successful year with awards recognition. Clearground, whose work includes cleaning the iconic Liver, Port of Liverpool and Cunard buildings, was named as a finalist for the Business of the Year (1-25 employees) category at the Wirral Business awards, and managing director Phil Piercy says the achievement comes after a spectacular year of growth for the company. "It was a real achievement for us to be in the finals at the Wirral Business Awards and we are proud to have been recognised in this way within our local area. This nomination highlighted our team’s hard work and commitment, which without doubt contributed to 2013-14 being our most successful year to date.
Associate marks tenth anniversary at Keppie Massie A long-serving associate at Liverpool’s Keppie Massie is marking his 10th year with the commercial agency. Tony Reed first joined the firm in 2004, from the investment team at Business Liverpool, and managed sales and lettings campaigns during a “buoyant and successful” few years. Despite a number of challenging years for the market, Reed maintained involvement in prominent city centre deals including 2012 and 2013’s No. 1 Tithebarn and Edward Pavilion projects. Reflecting on his time with the firm, Reed says: “Some of my personal highlights include being involved in the transformation of Exchange Flags and the Liverpool ONE development and presenting the ‘No Cannes Do’ Review of the Year 2010 along with Chris Connor of Mason Owen.” He is now focusing on an optimistic future with Keppie Massie, adding: “The last six months has seen positive signs across the regional office market and an increase in larger requirements. “As a company we are ready to move forward and expand our coverage of the Merseyside commercial property market.”
Clearground managing director, Phil Piercy
“Over recent years we've strategically grown the business and expanded into new markets, including waste management, pest control, high level access and commercial kitchen fan and extract cleaning.” Clearground is now hoping to further extend its business with new
contracts in 2015, and Piercy adds: “We aim to continue this growth and increase turnover by a further 20% by the end of the financial year." The awards are run by Wirral Chamber of Commerce and winners include ship builder Cammell Laird and domestic product giant Unilever.
Tony Reed
MOVE COMMERCIAL 11
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V E R S A T I L I T Y To Let Spectacular landmark office building in the heart of the Wirral Space from 1,173 - 6,670 sq ft
At Gateway house we offer the versatility that your business needs. Description Gateway House offers Grade A, high quality office accommodation close to Bromborough with over 4 floors with the following specification:
Versatile accommodation to cover your needs
• Suspended ceilings • Recessed LGIII compliant lighting • Full access raised floors • 4 pipe fan coil air conditioning • 2 x 13 person disabled access passenger lifts • Male, female and disabled toilets to each floor • Shower Facilities •124 car parking spaces • 24 hour CCTV
Viewing For further information or to arrange a viewing please contact:
Location Gateway House is prominently located on New Chester Road, Bromborough, the A41 and within a 2 mile drive of junctions 4 & 5 of the M53 motorway. Bromborough Merseyrail Station along with an extensive bus network is withini walking distance. Liverpool city centre is accessible via the Birkenhead Tunnel. Within close proximity to the property there is a range of excellent amenities.
Approx Drive Times Liverpool Chester
15 mins 20 mins
Brian Rickets brianrickets@hwandp.co.uk
www.hitchcockwright.co.uk
Sat Nav: CH62 3NX M6 m/way 25 mins Manchester 50 mins
p01-18_Move Commercial 13/10/2014 12:27 Page 13
Opinion
Will FCA regulation ever reach commercial mortgages? Regulation means red tape and that’s the last thing the recovery needs, says Move Commercial editor Christine Toner
The financial services industry has seen plenty of regulatory change of late. From the introduction of the Mortgage Market Review rules to the Financial Conduct Authority (FCA) taking over the regulatory reins of the consumer credit industry it’s been a busy few months for policy makers at the industry watchdog. And while much of the change affects consumers and the residential mortgage market, it’s clear the FCA is ready and willing to cast its net a little further with some corners of the commercial market already feeling the regulator effect. Just last month the FCA announced it was looking to regulate some buy-to-let mortgages – a move which whilst not hugely significant on its own (as it will only affect a small number of loans) may signify the regulator’s intention to get a foot in the door of the commercial market. Buy-to-let has always been an unregulated product however, given the number of so-called accidental landlords the regulator is concerned that more protection is needed for borrowers. Proposals have been put forward that would see mortgages for homeowners who find themselves forced to let their property (perhaps because they are unable to sell it) become subject to FCA regulation. Previously a lender could just swap the homeowner mortgage for a buy-to-let loan quite easily, but if such loans become regulated the process will be much more complex. This isn’t the first time the regulator has dipped its toes in the commercial market. Late last year the regulator issued a warning to banks about the way in which they deal with small to medium enterprises. The warning – sent to all UK bank chief executives – came after a number of damning reports into lending practises at Royal Bank of Scotland were published. Despite the fact commercial loans are not regulated by the FCA the regulator claimed it was able to step in because it saw that customers were not being treated fairly –
“
the FCA has cited borrower protection as its reason for getting involved however it is this that has sparked debate among lenders and advisers in the industry.
“
Christine Toner christine@movepublishing.co.uk
a breach of one of its key initiatives. And at last month’s Association of Short Term Lenders (ASTL) annual conference FCA manager of mortgage policy Lynda Blackwell said the regulator is closely monitoring nonregulated bridging lending (where loans are secured against investment properties or primarily for business purposes) with lenders in the sector remaining “a concern”. In all of the instances highlighted above the FCA has cited borrower protection as its reason for getting involved however it is this that has sparked debate among lenders and advisers in the industry. FCA regulation is in place to protect consumers who are perhaps not well versed in the financial industry. And borrowers who are making a business transaction, argue some commentators, do not need the same level of protection. Most business transactions are carefully considered and have involved a fair amount of due diligence. Furthermore, FCA regulation would undoubtedly increase the bureaucracy burden for lenders and as such may slow down lending processes. With many SMEs – and indeed larger firms – already struggling as a result of banks’ unwillingness to lend let alone do so at any speed anything that would make the process even more complex will surely be unwelcome. It is unlikely commercial finance will be fully regulated by the FCA any time soon but it’s clear the regulator is looking to extend its reach. Let’s hope any changes it implements do not have a negative effect on an industry finally enjoying a recovery.
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@MoveCommercial MOVE COMMERCIAL 13
p01-18_Move Commercial 13/10/2014 12:27 Page 14
www.northerntrust.co.uk
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p01-18_Move Commercial 13/10/2014 12:27 Page 15
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Bitesize thinking
Fiona Hull managing director, Construction Q
In my crystal ball... With full order books for both construction companies and consultancies alike, I think we can safely say that things are looking up for the industry. But what does this mean for the future? After five subdued years the QS (quantity surveyor) is coming to life again. Instead of hiding away with an excel spreadsheet they are confidently negotiating packages well above market value. Whilst this is great news for the recruiters, what effect will it have on recovery? We need graduate QSs to join the industry and plug the skills shortage in the years to come. Unless we can attract the stars of the future then the road to recovery will be rocky. It’s all very well having the work but if it’s not managed well it would be as wasteful as £300,000 a week for a Premiership footballer. Oh, hang on a minute…
If only I’d known… If only I’d known that an animated builder called Bob would become a worldwide phenomenon. I could have sketched a cartoon character, sung a theme tune and written a story book. Hmmm, somehow Quentin the QS doesn’t quite have the same ring to it! It’s a great idea though. Start young and raise the profiles of careers in construction; make the industry fun, exciting and glamorous. Neil Morrissey not only made a personal fortune with Bob and his gang (Wendy, Dizzy and Lofty for anyone interested) but he did wonders for the industry. I often speak in schools about careers in construction and the key is to give the students something they can relate to. If we are going to address the skills shortage then we need to keep working on these ideas. Construction already is fun, exciting and glamorous – we just need to shout a bit louder about it.
Photo: Elliott Brown
My favourite building with... Tom Bloxham director, Urban Splash
Albert Dock, Liverpool It’s an amazing structure by Jesse Hartley and at its time it must have been amazing to watch it as a working dock. It was actually a modernist building, the sort of building that Richard Rodgers or Norman Foster would build today. Built with form following function, it ended up incredibly elegant and practical. But it then became the symbol of the decline of Liverpool and when it was empty there were even proposals to fill the dock in, which would have been a disaster. In the 1980s and 1990s it became a symbol of the rebirth of Liverpool. The Tate opened and the buildings that had been empty and dead for so long became alive again and now they’re full of people working, eating, drinking, shopping; people living. Best of all, it has the Tate gallery, which has some of the world’s greatest paintings on show for free for the public of the world to enjoy.
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“Built with form following function, it ended up incredibly elegant and practical.”
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Bitesize thinking
David Colvin partner and head of national business space, Matthews & Goodman
Curriculum VITAE Main duties: Looking after clients’ best interests and seeking and delivering opportunities and resolutions. Heading up the Liverpool section of the national business space team and liaising with colleagues in London and Manchester offices. Education: Gayton Park followed by Mostyn House in Parkgate and then Shrewsbury School. I then obtained a degree in Estate Management from Liverpool Polytechnic. First job: Polishing choirboys’ shoes at Westminster Cathedral. Shortest job: On the production line at Metal Box (20 minutes). What’s the secret to your success? Help others to be successful. What’s the best piece of business advice you’ve ever received? Ensure every property deal has something in it for both sides.
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65,000 sq ft The amount of office space created within Manchester’s historic Sevendale House, in the Northern Quarter. A recently completed £6 million restoration of the building, owned by Philip J Davies Holdings, has also provided 15,000 sq ft of retail space.
What advice would you give to somebody starting out in the industry? Work hard and enjoy yourself. Maintain your integrity at all times.
1,000
What makes Matthews & Goodman different? We pride ourselves on finding creative solutions to property issues, beating deadlines, maximising returns and minimising the costs of clients’ property assets. We form long lasting relationships with clients, advising on a range of projects from portfolio strategy to site specific projects. Our reputation is based on an ethos of quality, reliability and timeliness.
The number of new jobs which could be created as part of the proposed Walton Hall Park regeneration project in North Liverpool, which would be spearheaded by a new stadium for Everton Football Club.
Tell us about Matthews & Goodman’s plans for the next 12 months: Matthews and Goodman is proud to celebrate its 150th anniversary next year and we are planning a series of events to mark this impressive milestone which will include clients, former colleagues and friends of the firm. Having merged with Edmund Kirby in Liverpool and Chapman Bates in London within the last three years we continue to look at appropriate opportunities to move forward with partners who embrace our principles and standards.
Tweet all about it The 5 best commercial tweets
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Commercial
@Bruntwood_UK @George_Osborne unveils the plaque, #Citylabs is now officially open! @seananstee The opportunity for greater devolution to Greater Manchester should not now be missed #indyref #strongertogether @DSGQuants Amazing sight coming into #Liverpool, great to see so many cranes #construction @OBIProperty Allied London are investing in Manchester. Exciting plans for the future. @OldGranadaMCR @McrMIPIM Welcome on board to the 2015 partnership: @NOMA53 @Bruntwood_UK @Laing_ORourke @EstateMaster
£60m The cost of a new Graphene Engineering Innovation Centre which will be created in Manchester, it was announced in September. The facility is set to complement the city’s National Graphene Centre.
5 The number of floors in the newly completed Spinningfields-based office building, No. 1 Hardman Street. Built by Eric Wright Construction, the new Manchester City Centre site features 1,530 sq m of office space across the floors.
500 The number of acres of Birkenhead Dockland which will be transformed by Peel Group for its Wirral Waters scheme. Remediation work to prepare part of the site for Wirral Met College’s new campus is underway, and the building will be the first key landmark in the regeneration project.
173,723 sq ft The total amount of office transactions reported in the first six months of 2014 in the Warrington and environs office market, according to BE Group. The letting of 30,000 sq ft at Appleton House in Birchwood to footwear giant New Balance is said to have been one of the most notable deals.
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Appointments
Capital & Centric move for CBRE senior surveyor Michelle Rothwell has taken a role as development manager at Capital & Centric after leaving CBRE Manchester, Michelle Rothwell where she was senior surveyor in the office agency. Rothwell joined CBRE as a graduate in 2010 and was promoted to senior surveyor in April 2014, where her clients included Peel and Bruntwood. She will work on projects including 12 Tithebarn Street, the Littlewoods site in Liverpool and an Aytoun Street development in Manchester. Tim Heatley, co-founder of Capital & Centric, says: “Michelle has a brilliant knowledge of Manchester city centre and great contacts, which will be invaluable as we focus on more projects in and around town. Her office agency background also adds a different dimension, as that is not an area of expertise currently covered within our team."
New associate director at Walker Sime Walker Sime has appointed Mark Newall as assistant director to the Liverpool and Manchester Mark Newall offices. Newall joins from Rhead Group having worked in the construction industry for 25 years, including the rail, nuclear, oil, gas, electric and civil engineering sectors. He has previously operated his own subcontract business carrying out non track side rail projects. He says: “The opportunity to join Walker Sime was simply too good an opportunity to refuse. I recognised an excellent opportunity to further my career with an established regional professional consultancy and being involved in a variety of exciting projects throughout the North West with high profile clients. “I am looking forward to the challenges ahead and being able to contribute to the team at Walker Sime.” 18 MOVE COMMERCIAL
Russells Construction appoints four
Maek Kenyon, Mark Turner, Patrick Moors & Jamie Oldland
Russells Construction has appointed four quantity surveyors to assist with the management of projects from tender to completion. Senior chartered QS Maek Kenyon, senior QS Mark Turner, QS Patrick Moors and chartered project QS Jamie Oldland have all joined the team. Meanwhile, design manager Mark Stocks has been appointed to oversee the firm’s liaison with architects. Director Andrew Russell says: “There is an upturn in activity which is extremely welcome. With forecasters predicting continued growth, we need to make sure we are able to make the most of it. We want good quality people in our organisation and I believe we have the best team, they’re experienced, dedicated and pay close attention to detail.” John Millward and Chris Harper have been appointed to the board of directors to help lead projects, the company has confirmed.
New managing director at Manchester Digital Katie Gallagher has been promoted to the newly created role of managing director at Manchester Katie Gallagher Digital, having previously worked as business development director at the trade body. Gallagher, who has previously worked for MIDAS and The Sharp Project, will be responsible for growing the independent body’s presence in the digital sector after overseeing the company’s strategy over the past three years. She says: “Manchester Digital’s membership has grown by 30% during the three years that I have been with the organisation. We have continued to influence the digital sector and industry, helping set the skills agenda and shape government policy. Being managing director gives me greater autonomy to achieve the organisation’s goals.”
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EXPERT LEGAL SOLUTIONS FOR THE PROPERTY MANAGEMENT SECTOR OUR SERVICES • Service Charge Arrears Recoveries • Ground Rent Arrears Recoveries • Complex and Defended Claims • Forfeiture • First-Tier Tribunal (Property Chamber) • Appeals to the Upper Tribunal • Right to Manage • Lease Extensions and Variations • Lease Services and Advice • Breach of Covenant
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JB Leitch Solicitors Key events
JB Leitch celebrates office relocation Liverpool based law firm JB Leitch hosted a magical evening to showcase its new office. An entertainer was on hand to wow staff and special guests from the industry with tricks and illusions as they enjoyed a look around the new second floor Duke Street base in the city centre. The evening also provided an opportunity for attendees to network as a selection of drinks and a delicious buffet was served at the celebratory event, marking the firm’s move from its former Kent Street site. Andrew Taylor, JB Leitch’s finance director, addressed guests on the night to speak about the exciting future that lies ahead for the firm following its relocation. 1
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1. Andrew Taylor (finance director, JB Leitch) says a few words about the exciting new start 2. Guests networked over drinks 3. George Day (SJS), Alan Morrison (RMT Partnerships) and Ian McMurray (SJS) 4. A magician provided entertainment 5. Nathan Caley (JB Leitch), David Brook (IDS), Raury Mason (JB Leitch) and Neil Owens (IDS) 6. Delicious treats were on offer at the event 7. Andrea Kelly (NatWest) and Lyndsey Moore (Agnes Marketing) with Jonathan Leitch and Andrew Taylor (both of JB Leitch) 8. Card tricks wowed the guests 9. Amy Donnelly, Jon Manley, Erin Smith, Charlotte Antrobus and Stuart Miles (all of JB Leitch) 10. Phil Parkinson (JB Leitch) with Paul Sweeney and David Ackerley (both of New Bailey Chambers)
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On the instructions of the Joint LPA Receivers
FOR SALE
RESIDENTIAL INVESTMENT OPPORTUNITY LIVERPOOL
Halifax House, Brunswick Street, Liverpool, L2 0NZ
19 x 1 & 2 bedroom apartments \ 19 out of 26 apartments available to purchase (7 previously sold) \ Fully let producing a gross annual income of £123,180 \ Prominent location within Liverpool city centre
£1,600,000 Contact James Cole or John Shaw 0161 831 1690
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My month Thomas Renn, associate commercial director, Manchester Science Partnerships It’s been an eventful month for Manchester Science Partnerships (MSP), formerly Manchester Science Parks, with the launch of its Citylabs office and laboratory space and a visit from Chancellor George Osborne. Associate commercial director Thomas Renn takes a look back at the key events from the last few weeks and everything in between, as well as bringing us up to date on forthcoming plans.
My goal at the start of the month was... To successfully launch, with the MSP team, our new Citylabs biomedical centre of excellence on the Central Manchester University Hospitals’ campus and to support the launch of our rebrand from ‘Manchester Science Parks’ to ‘Manchester Science Partnerships’ – not to mention helping to plant 20,000 snowdrops at MSP as part of the ‘Snowdrop City Project’ commemorating the centenary of World War One.
My biggest achievement was...
My biggest challenge was...
Rather than a personal achievement I’m extremely proud to say that, as a team, we successfully launched Citylabs (with the support and attendance of the Rt Hon George Osborne), our ‘BREEAM’ excellent, state-of-the-art new biomedical centre of excellence, located in the former Royal Eye Hospital. The building marks the first phase of delivering our joint vision for a world-leading health innovation campus and will provide 100,000 sq ft of space to a range of biomedical, life science and e-health companies. It is truly a gem in our crown and after five years of hard work we
Entertaining a huge group of school children and helping to plant 20,000 snowdrops at our MSP site in honour and memory of the 100th anniversary of World War One. We partnered up with the National Trust to plant 20,000 of the 100,000 snowdrops being planted across Manchester. We did have some hired help though, in the form of 120 kids from our local Webster Primary School. It was a long day but we got the job done and we really enjoyed engaging the local community in the park at the same time.
were proud to have over 200 of Manchester’s community of business and science decisionmakers attend the launch.
THE NEWS STORY THAT CAUGHT MY EYE... It was an article in the Financial Times. I was shocked to read the government has had to overhaul the BDUK Connection Voucher Scheme for boosting business broadband provision, due to a low take-up. The scheme itself offers SMEs access to £3k of funding to provide a step change to a minimum of 80mb speed. To date, from a £100m pot only £7.5m has been committed to around 3,000 SMEs. The scheme closes in March 2015 and at this rate looks like it will miss its targets by a long way, which surprises me as it has been a real enabler for us and our companies, plugging a funding gap that has often kept businesses on a residential grade with contended services, ultimately limiting their growth potential.
The key meeting I had... To identify one key meeting this month is really hard for me, as I’ve met and worked with a number of new and current customers on their expansion/ relocation plans. This has included venture capitalists from Israel, a world leading eye surgeon from Central Manchester University Hospitals Foundation Trust, a serial entrepreneur from Bulgaria and the CEO of the TiE network. Another key meeting was showing the committee of the Greater Manchester Chamber of Commerce around Citylabs for our award submission for the ‘Building of the Year’ award – fingers crossed!
My plan for next month... I don’t know if others are experiencing it but for me, the momentum in the economy and market seems to be moving at a real pace after the traditional summer break. In October I hope to continue to work with and finalise plans for companies looking to occupy Citylabs and our ‘Heart of the Park’ at MSP. We’re also working up ideas for our next SME service at MSP, a modular lab and workshop space which will accompany our incubator on-site and enable start-up companies to access lab and prototyping space without having to invest in their own facilities - a ‘pay as you go’ service if you like! MOVE COMMERCIAL 23
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Stephen Hurrell stephen@movepublishing.co.uk
What’s to be done with the historic Corn Exchange in Manchester? The building that has been a historic trade venue, an independent hub, an empty, bomb-damaged monument and a faltering retail destination is undergoing a transformation that could finally restore it as a premium city centre destination. We speak to Simon Green, asset manager at owners Aviva Investors, to talk about how it will become central to Manchester life once more.
Built in 1879 as a market hall, Manchester’s Corn Exchange was once a trading hub before its decline after the Second World War. Having lain empty for decades, it was revived as an independent shopping location before an IRA bomb ripped through the area in 1996. Several false starts later and you could be forgiven for wondering if the Grade II-listed building, whose scale and Edwardian architecture dominates Exchange Square, would ever become a destination Manchester could be proud of – but new owners believe they have the formula to finally restore the building to the heart of Manchester’s daily life. With a £30 million refurbishment underway, Aviva wants to create a premium dining destination in the building with a selection of new restaurants and a 24 MOVE COMMERCIAL
five-star hotel to do justice to the grand surroundings and central location. Green says: “It’s a beautiful looking building and people within Manchester and elsewhere are very fond of it. It is an integral part of Manchester and we had a responsibility to breathe new life into it. People do have fond memories of it, especially within its former use in the early 90s. We’re hoping that passion and love for the building will come through again when we’ve completed our works.” After reopening it was rebranded as The Triangle shopping centre and much of the historic interior was replaced by more modern fittings. In came premium brands such as Adidas, O’Neill and Jigsaw and by the time Aviva Investors had purchased the building in 2002, it was suffering from increased competition and a
mass exodus of its once-flagship brands. Green says: “We had the extension to the Arndale Centre and the development of nearby department stores such as Harvey Nichols and Selfridges. This put more supply into the market. At the same time you had some other areas within Manchester such as the Northern Quarter and King Street which were emerging as strong destinations in their own right. They provided competition for us.” It became clear the building needed a complete overhaul and Aviva has what it believes is the ideal solution. First came a change of name with the revived Corn Exchange moniker introduced once more. “The architects have made use of a lot of the listed features within the building.” says Green. “We are not
exactly going back to how the building was originally intended but you’ve got various historical features of the building such as the Corn and Produce Exchange sign and we felt it was a completely natural thing to do to brand it once again as the Corn Exchange.” However, there were big changes to be made to create a viable leisure destination. The most important of these was decluttering the interior and opening the building up to create a thoroughfare for people visiting nearby attractions such as Victoria station, the Manchester Arena and the National Football Museum. Green says: “The building historically was somewhat closed to the rest of the city. We’re introducing the walkway through the building. It’s basically opening it up, making it more permeable, encouraging people to come
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Corn Exchange Founding Building
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There was an opportunity to create a premium dining cluster given the strength of its location, the strength of the city and its demographics
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through the building on their journey between Exchange Square and the train station.” Aviva plans to transform the building into several dining units across two floors, with external entrances, views across Exchange Square and, crucially, a more open building that will act as a thoroughfare for the public. It will also create a five-star hotel in the upper floors to become an all-day mixed-use destination. This, says Green, has already proved a hit with potential operators. “It’s in a fantastic, prime location within a fantastic city. We thought there was an opportunity to create a premium dining cluster given the strength of its location, the strength of the city and its demographics and the fact there wasn’t such a cluster within Manchester. The demand we have had has proven the theory correct.”
The advantage, says Green, is that restaurant units can trade more successfully over two levels and customers can enjoy views of Exchange Square and the imposing glass dome above their heads. However, the success of the scheme hinges on bringing the right tenants into the building and Aviva is keen to bring more premium operators from the independent sector. “It’s really important for us to get the right tenant mix. We operate in a no compromise environment because what we want are national operators expanding out of London, the regional heroes, a mix of cuisines and a mix of offers to take you through breakfast, lunch, dinner and later into the evening. “ He says they are in advanced negotiations with a number of restaurant operators and will be in a position to announce names in the coming months. Meanwhile, a
hotel operator will also be announced after the firm looked at options for the upper floors. “We were trying to create interest between uses on the upper levels and the ground floors. We did look at various options but having market tested the hotel having received numerous bids, we thought that would be a great opportunity.” As the pieces come together and with an opening date set for 2015, Aviva says the refurbishment of the building is important for the company and Manchester. “The responsibility we have is about creating a legacy for Aviva Investors, creating a legacy for Manchester and with that in mind that’s why we are passionate about getting the tenant mix right and passionate about reinvigorating this beautiful building,” he explains.
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Natasha Young natasha@movepublishing.co.uk
Following turbulent economic times, the North West’s commercial property market continues to move in an optimistic direction, attracting high take-up and a rising number of cranes appearing on the region’s city skylines. This ongoing journey to recovery, coupled with demand for a variety of offices ranging from the much needed Grade A stock to incubator space for emerging small and creative businesses to grow, has prompted new developments and innovative redevelopments to get underway right across the region. Move Commercial rounds up some of the key projects which are currently taking place.
Supplying Demand At the start of 2014, concerns over the shortage of Grade A stock and space for large deals, particularly in Manchester, played a prominent part in regional market outlooks. Then a “dramatic rise” in the size of requirements and lettings during the first half of the year prompted CBRE to echo the same warning in the Manchester section of its H1 National Office Market Review, after 13 deals exchanged greater than 10,000 sq ft. Such demand has paved the way for a number of large scale developments to get underway in the city. In the final quarter of this year, central Manchester’s 280,000 sq ft Grade A office building, One St Peter’s Square, is set to see its first tenants move in. KPMG will take the top three floors and also half of the 10th floor of the building, which has been developed through a joint venture by Argent and Greater Manchester Property Venture Fund. Meanwhile the San Carlo Group’s FUMO restaurant brand is lined up to move into the 26 MOVE COMMERCIAL
ground floor, after the project reached fit out stages earlier this year. By July 2016, One St Peter’s Square is expected to be joined in the city by fellow new Grade A office building 101 Embankment – 167,000 sq ft of accommodation across 10 storeys, which is being built on the site of the former Exchange railway station opposite Manchester Cathedral and Chetham’s School of Music. During the summer demolition works commenced to make way for the scheme, which is the first phase of two office buildings being planned for the site. Agents CBRE and DTZ were also instructed to market the offices by the scheme’s partners Ask Property Developments, Carillion Plc and Tristan Capital Partners. Once built, offices will be accompanied by a 442-space Q-Park car park. Elsewhere in the region, Warrington Borough Council recently marked “the start of the renaissance of the town centre” as work got underway to develop an £8.5 million
Business Incubator facility. The beginning of the construction of the building, which is being carried out by ISG, was commemorated early in September when a ground breaking ceremony was undertaken by Dame Tessa Jowell. Scheduled for completion in summer 2015, the BREEAM Excellent development will provide accommodation and research and development facilities for up to 100 small businesses and is the first phase of Warrington Borough Council’s ambitious £190m Stadium Quarter master plan. Featuring a double-height glazed entrance area and ground floor cafe, along with a focus on sustainability, the Business Incubator is designed by Liverpool-based architect practice Falconer Chester Hall, which is also behind Warrington’s forthcoming Tower Wharf building by Longmeadow Estates Ltd. Just starting onsite, the four-storey building adjacent to Peel’s Wirral
Waters regeneration project will provide almost 50,000 sq ft of space and will feature a triple-height atrium and views across the Mersey to Liverpool’s Waterfront. According to Falconer Chester Hall director Alastair Shepherd, the building will “no doubt be a catalyst for further investment”. Meanwhile in Chester, Muse Developments kickstarted construction on One City Place in June this year, and the Grade A office scheme close to the city’s railway station forms part of the area’s Central Business Quarter regeneration project. While this first 70,000 sq ft office building is due to be finished in October 2015 the whole of the quarter which, according to Cheshire West and Chester Council aims to “drive economic growth and transform Chester city centre’s commercial offer”, is expected to take up to 15 years to achieve. And whilst CBRE’s National Office Market Review highlights that Peel’s
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Development Round-Up
Tower Wharf
No 12 Tithebarn
101 Embankment
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The BREEAM Excellent development will provide accommodation and R&D facilities for up to 100 small businesses
ambitious Liverpool Waters plans will be the catalyst for the next speculative office development in Liverpool, the city is currently the subject of some prominent redevelopment schemes. Developer Capital & Centric has been leading the transformation of the Bunker Building at the site of Liverpool’s iconic former Littlewoods site, creating 20,000 sq ft of out of town space. In April this year contractor Artez was appointed to carry out the £2.6m creation of the “very stylised” twostorey office building, which is now at the internal fit out stage and is set to be finished before Christmas. Across the city, Capital & Centric’s speculative refurbishment of
No 12 Tithebarn, within Liverpool’s commercial district, is expected to reach completion at the end of March 2015 after Sustainability Inc was chosen to undertake the £4m work. Preparation work has recently finished at the 1970s building, which has been derelict for nearly a decade and is set to be given a new lease of life providing 40,000 sq ft of office space for the city. It’ll also include features such as a new meeting space in the basement. Louise Pearson, Capital & Centric’s development manager, is confident that both projects will be “welcomed to the market not just for bringing more space but because they’ll offer something different”.
Business Incubator
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Christine Toner christine@movepublishing.co.uk
The Next
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Special Report
As the commercial property market continues its steady recovery companies are starting to feel confident enough to look to the future and make plans for progress and growth. Of course, in order to achieve this they need the right people with the right skills. In this special report Move Commercial asks how the industry is preparing the workforce of tomorrow and why it’s so important to look ahead to tomorrow’s talent.
As of last month school children in Britain as young as five years old began learning about computer programming and coding. The move – part of a wider overhaul of the curriculum – is intended to bridge the skills gap within the technology sector and while five years old might seem a little young to get on the career path there’s no arguing that equipping tomorrow’s generation of workers with practical skills today makes sense. According to a survey of company leaders by YouGov just under one in five businesses believe graduates are “work ready” when they leave university. Meanwhile more than half of employers said almost all graduates start work without vital attributes such as team work, punctuality or the ability to cope under pressure. For the construction industry a shortage of skills is a particular problem. In an address to the Government Construction Summit in London earlier this year business secretary Vince Cable described the loss of skills from the construction
industry during the downturn as “a horror story” adding that the skills shortage could bring the sector’s recovery to “a shuddering halt.” Cable is one of a number of industry commentators who have called for more to be done in terms of improving training and apprenticeships in construction. Claudia Conway, spokesperson for the Royal Institution of Chartered Surveyors says whilst it’s difficult to put an exact figure on the current skills shortage, concerns about the lack of skills in the construction industry now stand at their highest level since 2008. A recent RICS survey showed that 54% of respondents believe that there are now insufficient numbers of quantity surveyors currently available to meet workloads (up from 41% in Q1 2014). “The recovery needs a workforce and many of our members have cited the skills shortage as the biggest risk to their businesses, whether SMEs or larger contractors,” says Conway. “In the RICS UK Construction Market
Survey (Q2 2014), 59% of respondents reported shortages of bricklayers and 51% reported a shortage of managerial workers. “A key reason for the shortage of skills in the sector has been the lack of funding – from borrowing to receiving timely payment for jobs done, SMEs in the sector are having trouble securing the necessary funds to train and develop their staff.” And here in the North West that shortage is being felt hard. One report by the Greater Manchester Chamber of Commerce predicted a 200% increase in demand for labour and additional skills between 2014 and 2017. “There is a huge skills shortage in the construction industry, and I can see this from my perspective as an exindependent financial adviser of 23 years and now as a director,” says Eddie Leyland, director of property development and investment company Goodman Wells. “I see the constant search for quality tradesmen in the construction sector on a daily basis. The average
age of the tradesmen of any notable standard is late 30s to mid 40s. These people will retire in the next 20 years and therefore we need to make this industry more appealing to the younger generation, who seem to have been indoctrinated to the fact that university is the answer to success.” Wells says not enough school leavers are encouraged to take up a trade via apprenticeships. “It's not a glamorous world compared to the life of studying for a degree in journalism or web design,” he says. “As a tradesman/woman the opportunities are immense. The chance to use your skills to teach others and the opportunity to be an entrepreneur in the world of property development can be both hugely satisfying and very lucrative. It's time that the government helped employers in the construction industry to employ the next generation.” Peter Valkenburg, director, Walker Sime says the lack of “new blood” entering the sector will continue for MOVE COMMERCIAL 29
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The construction industry has failed to invest the time and effort to encourage the next generation into the industry. The biggest issue is the perception the younger generation have of the industry in that it is perceived as not being very sexy
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the foreseeable future unless the industry as a whole undertakes a number of far reaching initiatives to entice a new generation of individuals into the sector. “We are seeing a lack of young people coming through with skills for the market,” he says. This could be down to the climate a few years back, resulting in young people looking at alternative studies or courses in different industries as they didn’t view construction as a good option. “As a company we struggle to hire people with the skills that have been working for five years plus. This is fundamentally due to the lack of investment across the industry during the recession. The construction
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industry has failed to invest the time and effort to encourage the next generation into the industry. The biggest issue is the perception the younger generation have of the industry in that it is perceived as not being very sexy”. The economic meltdown will undoubtedly have had an effect on the way in which the construction industry is viewed by outsiders and potential workers. Following years of damning headlines and tales of despair in the national press it is not surprising that many young people will be deterred from pursuing a career within the industry. Matt Kerrigan, partner at commercial agent Hitchcock Wright & Partners
says this has certainly been apparent from the level of interest the firm receives from university leavers. “When I joined the firm, before the downturn, it was common to receive an influx of enquiries from graduates during the summer months,” he says. “Once the credit crunch hit there was a definite and noticeable decrease in the level of enquiries we’ve received and I know many other firms are experiencing the same thing. This just highlights the skills shortage that exists within the property industry. “The uncertainty that has surrounded the market in recent years together with a dearth of jobs as a result has clearly had an affect on the younger generation when they came to choose a future career. Those who were interested in property no doubt decided to choose an alternative – and, perhaps, more secure - profession. As the industry recovers we need to see confidence return to the market so we can attract younger talent.” Sarah Brisco-Davies is added value coordinator at the North West
The average age of the tradesmen of any notable standard is late 30s to mid 40s. These people will retire in the next 20 years and therefore we need to make this industry more appealing to the younger generation, who seem to have been indoctrinated to the fact that university is the answer to success
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Construction Hub (NWCH) which works with local organisations including the Greater Manchester Chamber of Commerce, to identify skills requirements, improve the image of the construction industry and ensure it has the appropriate skilled employees for the future. She says one issue the industry faces is a lack of awareness (and interest) in the lesser-known careers within construction. “There are various routes that can be taken to pursue a career in construction and often these depend on the type of career,” she says. “Whatever route taken, it is important to gain work experience. Whether this is through an apprenticeship, part time work whilst studying or voluntary work experience, it’s important to gain ‘hands-on’ experience. Not only will the experience add to a person’s CV, it will inform the learner’s training and help them to know if they’ve picked the right career for them. “There is a wide range of careers available in the construction industry from traditional trades to professional services, some more well-known than others. When we recruit apprentices we often receive a high number of applicants for well-known trades and struggle to fill lesser-known roles. My advice to anyone who would like to consider a career in construction would be to ‘explore’ the industry. Speak to friends and family who work within the industry, get in touch with local companies for work experience opportunities, take a look on the National Apprenticeship Service website to read about the different career paths - explore what opportunities are out there and what career you may like to develop.”
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Special Report
Now is the time to seize opportunities
Graduate schemes are key
Construction sector underpins growth
Mick Hamill regional delivery manager for the North of England, Construction Industry Training Board (CITB)
Sophie Weinmann associate director of asset services, CBRE’s Manchester Office
Robert Hough chair of Liverpool City Region Local Enterprise Partnership
There has never been a better time to take advantage of the career opportunities offered in construction. In the next five years more than 180,000 new jobs will be created in the industry and the sector will need at least 120,000 construction apprentices to help fill them. Working in construction is more than a job – it’s a fulfilling career, with more than 40 different career options available, ranging from architecture and civil engineering to joinery and plastering. The many skills and specialisms involved in construction mean a wide range of opportunities for people from all different backgrounds and life experiences to carve out a successful career. And it’s not just for young men. More and more women are opting for rewarding careers in construction, encouraged by the industry’s positive response to CITB’s Be Fair framework to create a more diverse workforce. In order to meet the current skills shortage we need to double the number of apprentices going into construction. CITB offers training to young people to enable them to join more than two million people who work in the industry already. A CITB apprenticeship combines on-site experience with college learning to provide the right balance of training and real-life experience. The apprenticeship usually lasts two or three years depending on where you are based and the qualification you’re studying for. As a craft apprentice, for example, you will be in full-time employment, go to college to gain a National Vocational Qualification (NVA) in your chosen craft, get hands-on experience to help you develop the skills needed to start your career and be paid a small salary. The apprenticeship takes around three years to complete and opens the door to permanent employment, starting your own business or embarking on further study to progress into supervisory or management roles. More than 30 different construction apprenticeships are available, including carpentry, plastering and scaffolding. The CITB Apprenticeship Scheme offers three levels of apprenticeships – Level 2, equivalent to GCSEs; Level 3, equivalent to A-Levels; and Level 4, equivalent to a Foundation Degree.
Graduate schemes are vital in any industry to ensure the continued investment in the next generation of employees. For a scheme to be a success, they need to provide benefit for both the employer and the graduate. At CBRE, we see the graduate scheme as an invaluable way to ensure the company has the skills needed to meet the future demands of the business. Graduates come to us with new perspectives and can inject some great new ideas and amazing energy and enthusiasm. In essence we understand that people are the key to our business, so we do all that we can to attract the best – and keep them. The benefits of joining a well-established graduate scheme are considerable. We invest substantial amounts in ensuring our graduates are supported and mentored from the day they arrive. At CBRE, the scheme provides at least two rotations within the business, providing exposure to different departments and specialisms. There are also the less tangible benefits of a graduate scheme. At CBRE, the first week of each intake year is spent on inductions. This week is less about the business and more about encouraging the graduates to build their own relationships and support network in an informal environment, making those connections around the company that will really benefit their careers in the years ahead (made all the easier when this all takes place whilst surfing in Cornwall). A testament to the importance of the scheme is shown by the number of members of our team who came through our graduate programme, and stayed. In the North West, 15 of our fee earners joined as graduates – and CBRE’s EMEA chairman and MD Martin Samworth joined as a graduate in 1983. The sky’s the limit.
All business sectors have concerns about identifying the next generation of talent, but the construction sector has more reason to worry than others. With employment figures inching ever upwards since the end of the recession, it is feared that the shortage of skills in the construction sector could actually stymie the economic recovery. So, is enough being done to arrest the decline? Our City Region LEP has been clear with our ambitions to drive economic growth and create jobs over the coming decade. The establishment of a City Region Employment and Skills Board to lead on the employment and skills agenda has been a vital and necessary step in bringing about change and improving employment, skills and productivity for the regions residents and workforce. The construction sector underpins growth, whether it is new infrastructure, docks, office space or housing so we need to ensure we are supporting the construction industry to make the most of the planned projects such as the Mersey Gateway Bridge, Liverpool2 and Mersey Waters Enterprise Zone and to benefit local people and business. How are we achieving this? By working closely with our local employers and schools, colleges and learning providers, we are making sure that the right skills are put in place – from apprenticeships to a range of other qualifications to meet the needs of the construction industry. The LEP and the Employment and Skills Board are creating the conditions for effective collaboration between employers and providers through initiatives such as Skills For Growth Bank, the Skills for Growth agreements and through influencing government departments. This will align the provision of appropriate skills for local people with the needs of the employers, including the construction companies. There is no quick fix available here but by working together we can deliver a concerted programme to ensure our growth is maximised.
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Business Clinic Guidelines for getting out of a lease
THIS MONTH’S PANEL Andrew Orme director, Orme Associates www.orme-associates.co.uk
Melanie Hockenhull solicitor, Cassell Moore www.cassellmoore.com
Donal Bannon partner, Morecrofts Solicitors www.morecrofts.co.uk
??? WE NEED YOUR QUESTIONS Do you have a problem that our experts could help solve? Need advice on a business dilemma? Email your questions to: post@movepublishing.co.uk
32 MOVE COMMERCIAL
Qst. I want to get out of my lease as I am closing my business. What should I do and who should I talk to? Will my landlord interfere with my proposal? Can he prevent me from selling the lease?
If your lease is not at an end, your best option is to contact a commercial estate agent to market your lease and introduce a party willing to take the lease over. It is worthwhile talking your needs through with two or three agents and obtaining quotes before deciding which one to employ. You could appoint two agents on a joint agency basis to give you wider coverage, but your estate agency fees will be about 50% more than if there was one agent. Note that any prospective transferee will need to be compatible with the lease terms, i.e. the user clause may prohibit restaurants and bars. Once a willing transferee is found your agent will negotiate the terms of transfer, i.e. a premium for the lease (or reverse premium if you pay the transferee to take the lease on) and a guarantee for your legal costs if the deal falls through, and she will write up a memorandum of sale. You can then
appoint a solicitor (or ask a legal friend) to draw up a deed of assignment to transfer the lease. Whilst generally speaking leases are transferable, they often require you to obtain your landlords’ consent first. Your landlord cannot unreasonably withhold consent (s.19 Landlord and Tenant Act 1927) and must give its decision within a reasonable time (s.1 Landlord and Tenant Act 1988). Your lease may define circumstances where the landlord may legitimately withhold consent, i.e. the transferee may require provable net assets of a certain amount. Your lease may also require you to guarantee the obligations of the new tenant. If you are unable to find a willing transferee you could consider sub-letting your premises, short term or otherwise, for the best rent achievable, and thereby remaining as tenant (i.e. as sub-lessor to your sub-tenant), and honouring the conditions in your lease as normal. Note that some leases prohibit you from letting at a lesser rent than is payable in your lease however.
Ans. | Andrew Orme
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Business Clinic Each issue our panel of industry experts answers your business questions and solves your commercial dilemmas.
Ex-employee set up as competition Qst. An employee of my company has left and set up her own firm, within the same industry. I did not stipulate in her contract that this wasn't permissible. Is it too late to do anything now?
In the absence of post termination restrictions, commonly called restrictive covenants, in a contract of employment an employer unfortunately cannot prevent an employee from setting up on their own. What an employer can do, however, is seek to prevent an employee from using confidential information, which they have had access to during the course of their employment and seek to misuse after their employment has come to an end. In the absence of contractual confidentiality provisions, an employer can rely on the implied duty of confidentiality to prevent the employee from misusing trade secrets. What amounts to a trade secret will depend on the circumstances, but it can include details of customers and suppliers and pricing structures. It might also be that an employer has contractual confidentiality provisions on which it
can rely after termination to prevent the employee from misusing its information. This might go some way in protecting the employer against disruptions to its business from former employees, but will not be as effective as post termination restrictions. So how do you go about enforcing these provisions? You would need to send a letter before action to the employee, detailing the breaches and asking them to stop immediately. If this does not work, you would then need to make an application to court for an injunction/damages if this is not successful. But
take advice – these applications can be costly and need care. In summary, it is important to address issues that might arise on termination of the contract from the start of employment. Without post termination restrictions, the employer is left susceptible to competition from former employees who have inner knowledge of their business. Be careful with the drafting – make sure they are fit for purpose.
The consequences of liquidation and personal liability
sold or transferred any assets of the company for less than they were worth, the liquidator may look to you and or the recipients of your largesse to recoup the losses suffered by the company. He will also look to see whether you have kept accurate accounts. If there have been any failures on your part, he may also report your conduct which may result in your being prevented from acting as a director for some years. As a director of a failed company you may not become a director of another company using a similar name to the failed company unless you fall within a number of exceptions to the general rule. Otherwise you will become personally liable for the debts of the new company and could face a court fine or imprisonment. It is therefore essential that you take appropriate legal advice before placing your company in liquidation to ensure that your own position is protected as well as ensuring that the company’s affairs have been sorted out as much as possible.
If the company was put into liquidation as soon as it became apparent that it could not trade on solvently, then you are unlikely to be personally liable for the debts of the company, provided you have not guaranteed any of the debts such as bank loans or rent payments. There are several matters that the liquidator will look into such as whether you have taken excessive remuneration from the company or paid excessive contributions into a pension scheme in which case the money may have to be repaid to What are the implications of me putting my company the company. If you have into liquidation? How will it affect my future and will I preferred some of your be personally liable for the debts? creditors by paying them whilst others were not paid or if you
Qst.
Ans. | Melanie Hockenhull
Ans. | Donal Bannon MOVE COMMERCIAL 33
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Providing The Legal Foundations For Commercial Property
Property Development
Lease Grant / Assignment
Commercial Property Purchase
Commercial Property Sale
Business Sale and Acquisition
Contact our Commercial Property experts today on:
0800 525 035 www.kirwans.co.uk
info@kirwans.co.uk @KirwansLaw
Kirwans is authorised and regulated by the Solicitors Regulation Authority (www.sra.org.uk) Prenton SRA Number 71723
34 MOVE COMMERCIAL
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MOVE COMMERCIAL 35
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Natasha Young natasha@movepublishing.co.uk
It was by chance that Kerrie Norman first carved out a career as a civil engineer, but with hard work, an eye for an opportunity and limitless ambition she has come a long way since then. Having put her name to some of the region’s most prominent public realm regeneration projects, as well as a central government role to deliver more than £340 million of schools, her wealth of experience and reputation in the industry is now helping her steer North Westbased Flinders Chase to success across a range of sectors.
Kerrie Norman recalls heading to Europe from her home in Australia with a “backpack and an open mind” at the age of 17, but whilst her longterm ambitions were unclear at the time she was confident she’d be able to achieve success. “In Australia it’s a classless society and you never had this working class, middle class, upper class thing so I never had any limit on my ambition. I never thought that I couldn’t be anything that I wanted to be,” says Norman. It was during these travels that Kerrie simply stumbled across the idea to become a civil engineer, a move which would eventually set her on the track to becoming a key player in private and public sector development projects around the UK. “My career started by chance, by just glimpsing at a poster in the corridor about civil engineering,” she says. “I didn’t really know what it was but it sounded like something good to explore, so I thought from that day onwards I’d be a civil engineer.” Following her training, Norman kicked off her career as a bridge engineer – a role which left her craving more collaboration and a 36 MOVE COMMERCIAL
focus on larger scale projects. Claiming to have “just found that opportunities have opened themselves up” to her, a call from a former employer at Parkman, now Mouchel, provided Norman with just what she was looking for, and she took the chance to work on major infrastructure projects in Ireland during the early 2000s boom. “From there I moved across to Liverpool. Again this was in the boom time – 2003/04 – and I was working on the King’s Waterfront project which was absolutely huge, the biggest project I’ve ever worked on in terms of managing interfaces; £400m worth.” This, along with the public realm transformation of Liverpool’s iconic Hope Street which Norman worked on during her time with Parkman, have not only helped to shape the city but also Norman’s career. “I was involved in the masterplanning studies that preceded those two projects and it’s just amazing to see it come to life and know that public realm and regeneration projects like that can make not just an immediate difference but a long-term difference. “The really interesting thing with
Hope Street was that we did things that have never been done before. We had to get the granite and the sandstone freeze tested at special labs to prove it was skid resistant and we had to jump through lots of hoops, but we had a team who never said ‘oh let’s just give up and do something conventionally’. For me that was such a good learning curve to know you could apply that to any project as long as you’ve really got that technical basis. You can do things that have never been done before.” And it was after the King’s Waterfront scheme that Norman was invited by her managing director to project manage Liverpool’s Building Schools for the Future (BSF) programme – a first step into the education sector which she would later become an expert in. “Liverpool was a Wave 2 Authority so that was right at the beginning of the programme and we had two and a half staff to deliver £230m worth of schools. In the beginning it was just all hands to the pump, no one in the education team knew much about delivering projects,” recalls Norman. “I did that for a couple of years and then got a mysterious phone call from someone
who later became my boss to say ‘We’ve heard all about you, would you come and work for the government for Partnerships for Schools (PFS)?’. I ended up spending five years working in central government for PFS and then for the education funding agency.” Working as part of a small PFS team delivering more than 200 schools projects within a two to three-year window, Norman recalls that it was a “fortuitous” time to be busy working in the public sectorbased field of education as other areas of the industry began to struggle, while the need for collaboration with other service providers still allowed her to maintain links with the private sector. When Norman felt the time was right to leave central government, the experience and contacts she had built up had well equipped her to set up her own business, and so in 2012 Flinders Chase was born. Having provided strategic and technical advice and project delivery services for capital projects from its Lancashire base since 2012, the venture has allowed Norman to play to her strengths and continue to
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Kerrie Norman, director, Flinders Chase Mover & Shaker
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I want to bring more young people through to give them the same opportunities that I had and make sure their career development isn’t by chance
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work on major educational schemes nationwide. A university technical college (UTC) at Salford’s MediaCityUK is preparing to open in the coming months after Flinders Chase took the project all the way through the design and procurement stages in 24 weeks, and further Midlands-based UTCs in West Bromwich and Burton on Trent are underway with the help of the firm. “We’re starting to develop some hybrid projects where we’re involving not just commercial projects but also education funding in quite different mixed-use developments,” say Norman, who leads the company alongside fellow director Ian Yates. “That is taking up a fair amount of our time at present and is my side of the business, and then we also have a highways and transportation division.” It’s been a flying start for the now four-strong team, which has enjoyed steady growth during its first couple of years and is now looking ahead to a bright future. “I’m very fortunate that in the first two years we haven’t had to bid for much work at all. Up until a few weeks ago we hadn’t bid for any work because the sector trusts us as individuals and now it’s trusting the company,” explains Norman, who despite taking an open minded approach at the start of her career now has clear ideas of where Flinders Chase is heading. Remaining “relatively small” and maintaining its base in the North West to make the most of “such potential across the whole northern hub region,” Norman says Flinders Chase will expand some of its modelling capability with the help of a recently secured £20,000 grant and is likely to double its workforce over the next six months. Norman is also keen to continue developing Flinders Chase’s industry training offering, ensuring rising talent can have the same chances to achieve career success as she had. “We do professional training for engineers and technicians to get qualified but I want to bring more young people through to give them the same opportunities that I had and make sure their career development isn’t by chance, because that’s how mine started, by glimpsing a poster in a corridor. We should surely be better than that at being able to introduce young people to a whole breadth of careers in our industry.”
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Stephen Hurrell stephen@movepublishing.co.uk
What do we mean by corporate responsibility and why is it needed? From improving sustainability to engaging the local community, businesses are lining up to offer extra to their employees and the communities they serve. But what are the benefits of embracing corporate responsibility and is it purely the domain of big business?
Here for Good? The case for corporate responsibility Business in the Community (BITC) represents more than 10,700 businesses nationwide and says it aims to “transform lives, communities and business practices”. It is the premier body in educating and supporting businesses by offering advice on corporate responsibility. The organisation can point to a host of North West companies who are leaders in their field when it comes to corporate responsibility. Seddon Construction’s graduate schemes, school engagement and employment opportunities were honoured in last year’s BITC awards, while companies such as ISG, the firm behind Liverpool’s new King’s Dock Exhibition Centre, have pledged to create local employment opportunities during their building projects. But for Raksha Pattni, England West director, corporate responsibility is not just about giving opportunities to young people and reducing unemployment. “That is only part of the picture,” Pattni says. “It is about businesses driving positive change in society. We understand that businesses need to be profitable 38 MOVE COMMERCIAL
but corporate responsibility is about looking at how they go about making that profit and the impact they have on the communities where they operate, the environment, their own workplace and employees and in the wider marketplace.” When Manchester Airport Group (MAG) announced it was creating an ambitious £800 million masterplan to transform the surrounding area into offices, industrial and leisure developments, bring HS2 to the airport and attract investment from afar afield as China, it was obvious the loss of green space and impact on local businesses would be a contentious issue. However, the scheme has not led to the kind of outcry some may have expected, partly because of MAG’s ‘Sharing the Great Outdoors’ programme. MAG introduced the Beyond the Farmyard scheme for the urban Wythenshawe area, where 77% of children receive free school meals, helping to link affected urban areas with rural areas and engaging its employees in the community. Through the scheme, 2,258 children were given the opportunity to experience the countryside and
experience farm animals for the first time, enhancing their knowledge of nutrition and increasing access to the rural areas managed by the airport. “New to the business in 2013, I was immediately impressed by the range and quality of initiatives we offer in the community,” says Andrew Cowan, managing director, Manchester Airport and chief operating officer, Manchester Airport Group. “Beyond the Farmyard Gate and the Runway Trail act as a bridge between our rural and urban neighbours. Interventions such as this are vital in building relationships that support our business growth.” While doing this may delight PR teams and improve a company’s image, it can also be costly, leaving many to ask ‘what is in it for us?’ Wates Group is a multi-national construction behemoth whose construction arm has completed a host of North West projects in 2014 including the state-of-the-art educational facility at Hugh Baird College in Bootle, Liverpool. The company is also a BITC award winner, recognising the success of its Building Futures
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Corporate Responsibility
programme, which sets out how the company will transform the communities in which they work and live. It won the award for delivering more than 50 programmes nationally to over 600 unemployed people in just one year, with 54% of participants moving off benefits and into employment or training. Not only does that transform lives, according to judges of the awards it also saved society £228,904. “Wates firmly believes that raising aspirations and educating young people, and inspiring them to help change the world around them is critical to the UK’s long term success,” says Paul Drechsler, chief executive of Wates. The extensive schemes the company employs saved it more than £1m in recruitment costs, according to BITC, highlighting the benefits to companies of investing in corporate responsibility. While a multinational company that recorded profits of £22.3m in 2013 may thrive under corporate responsibility schemes, smaller companies battling to balance outgoings with incomings may find it more difficult. According to BITC, it can be done. “Novus Property Solutions is an inspiring example of a business that has successfully reinvented itself and enthusiastically integrated responsible business practices with real impact,” says Marcelino Castrillo, managing director of SME banking at Santander UK and chair of the BITC awards judging panel. The family-owned property services company introduced a five-year plan to create a sustainable supply chain through investing 10% of its resources and diverting 97% of waste from landfill.
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Raising aspirations and educating young people, and inspiring them to help change the world around them is critical to the UK’s long term success
Better still – with 70% of the firm’s business coming from repeat customers it believes investing in corporate responsibility actually helped it retain existing clients and win new ones. Raksha Pattni adds: “Novus’ annual customer satisfaction survey showed that clients were aware of the added value provided by their Sustainable Programme and the programme has helped the company win substantial new business from clients who only work with companies which share their values.” From big to small, businesses across the North West are embracing corporate responsibility and reaping the financial, social and marketing benefits. The age of the socially responsible business is here and everybody stands to benefit.
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MSB Key events
Celebratory evening for MSB Solicitors MSB Solicitors’ staff and clients enjoyed an evening of celebrations as the Liverpoolbased firm marked the opening of its office extension and new mediation suite and the launch of its training academy. The drinks reception, which took place at the company’s base in Silkhouse Court, was attended by team members, guests from across the industry and also representatives of MSB’s chosen charity of the year; the James Bulger Memorial Trust. Managing partner Paul Bibby delivered an upbeat message about MSB’s culture as a company and vision for the future at the event. Meanwhile practice manager and partner, Joanne Dalton received a special thank you on the night in recognition of her work in implementing the extension of the office. 1
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1. Stuart and Denise Fergus (centre) of the Jamie Bulger Memorial Trust, with Sean Sexton (left) and Paul Bibby (right), partners of MSB Solicitors 2. Gary Pollard, Alex Woodcock, Shirley Turner and Bernadette McDonald (all of BMD Law), with Tracey Quirk (MSB) 3. Jane Stockton and Angela Cruise (Investec) 4. Paul Bibby says a few words to mark the expansion of MSB Solicitors 5. John Owens and Kerry Snookes (both of Cassell Moore) 6. Josephine Sexton (MSB), Angela May (9-12 Bell Yard Chambers London), and Natasha Johnson (MSB) 7. Michelle Helsby (MSB) and Mark Duffy (Marx Insurance) 8. Michele Henderson (MSB) with Laura Cross and Lynn Green (both of BW Macfarlane) 9. Katie Myers (Venmore), Rod Waldron (Clive Watkin), and Steve Butler (Barclays) 10. Emma Cain, Neelam Khurmi, and Janet Stallard (all of MSB), with Patrick Crean and John Roberts (both of Index) 11. MSB office manager Joanne Dalton receives a bouquet of flowers as thanks for all her work
p35-48_Move Commercial 13/10/2014 15:54 Page 41
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Lunch Date
Natasha Young natasha@movepublishing.co.uk
Stanley’s Bar and Grill Titanic Hotel, Stanley Dock, L3
Set within a recently transformed warehouse on Liverpool’s historic Stanley Dock, the Titanic Hotel’s restaurant oozes character as soon as you arrive. Its luxury interior and view of the dock and vast neighbouring former tobacco warehouse, coupled with a delicious lunchtime express menu, makes it a perfect destination for business lunches. Food is served fresh and flavoursome with fish dishes and rotisserie meats to traditional deserts such as bread and butter pudding. With breakfast, dinner and afternoon tea menus also on offer, along with coffee to cocktails and wine, the venue provides a welcoming environment for daytime and night time diners. To book, visit www.titanichotelliverpool.com
LUNCH WITH
Paul Jasper managing director, Coresafe Consulting Having relocated to Princes Parade around nine months ago, health and safety experts Coresafe Consulting are positioned at the heart of an area which is primed for plenty of construction activity over the coming years when Peel’s ambitious Liverpool Waters scheme gathers pace. “It’s a good place to be and there’s plenty going on,” says Paul Jasper, managing director of the firm which has also already been enjoying a busy 12 months working on varied construction projects across the area as a whole thanks to confidence returning to the market. From a development in Liverpool’s ever evolving Baltic Triangle and a scheme at Herculaneum Dock, to Manchester’s Victoria tram link and nationwide projects such as a site for the Unite union in Eastbourne, Coresafe Consulting’s own current portfolio provides a snapshot of the range of 42 MOVE COMMERCIAL
projects that are taking place now that the industry is in recovery. However, as we catch up with Jasper at the Titanic Hotel – which marked the completion of the first phase of Liverpool’s Stanley Dock transformation when it opened this summer – he points out that it’s currently an industry which is awaiting adjustments on the health and safety legislation front. In March the Health and Safety Executive (HSE) opened up a consultation over proposed changes to how its statutory Construction (Design and Management) – or CDM – regulations are delivered. By the time the consultation period closed in June the HSE received the “biggest amount of reprise in response to a consultation period that they’ve ever had right across the board with people saying that they basically don’t want it to change and it could just stay as it is,” says Jasper, who has worked in the industry for 23 years.
Although the full details of the changes have yet to be revealed, Jasper explains: “The main point, which we’ve known about for a while, is that the CDM co-ordinator (CDMC) role will go so that person is no longer involved. The duties of the CDMC will be passed onto what’s going to be called the principal designer and that’s not a separate role as such; they’re looking to pass it onto the architect or project manager. “It’s politically driven and it may just go full circle in that architects I’ve spoken to have said ‘all we’ll do is just pass it back to you so you’ll
“ “
If you go in at the end then design is finished, it’s done, and there’s nothing you can add
come into the design team as the principle designer and you’ll just carry on as it is’. That’s what we’re hoping will happen.” As the potential changes, which are expected to be drafted in January before taking effect in April 2015, become more of a talking point, Coresafe Consulting is said to be becoming more of a port of call for clients wanting to know what changes are heading their way and how they will impact on building projects, although the effect on projects which, in particular, are already underway is still an area where “there’s a lot of question marks flying about”. In spite of whatever changes are heading the industry’s way though, Jasper says one point that remains the same for the construction industry is the need to factor health and safety procedures into projects as early in the process as possible. While addressing issues retrospectively can cause “a massive problem,” Jasper adds: “If you go in at the end then design is finished, it’s done, and there’s nothing you can add. We’re constantly telling clients to bring us in as soon as they can.”
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MOVE COMMERCIAL
UNDER CONSTRUCTION
Steve Barber director, Bridging Finance Solutions
Mersey Gateway
SUCCESS Since founding Bridging Finance Solutions in 2005, director Steve Barber has seen the short term finance solution move from the periphery of the commercial property industry to the mainstream. Once considered an alternative to bank lending, the company is experiencing a rising trend in banks and professional advisors recommending the financing option to deal with cash-flow issues, to purchase stock or pay a tax bill. We catch up with Barber to find out how Wirral-based Bridging Finance Solutions is disrupting the standard market solutions.
How has Bridging Finance Solutions built its brand in the competitive financial market? Bridging Finance Solutions launched as a local business that quickly began to expand across the UK through an extensive broker network and client base. We tend to be a client/advisor-led business, rather than transaction based, in that we not only provide finance but also add value by providing widely different finance solutions for different client’s requirements. We understand that the sector cannot be commoditised and that it is not a case of 'one size fits all'. It is this flexible approach that has developed the brand. The business model has remained consistent by sticking to what it is good at in a market we understand. We have also expanded geographically rather than developing its product offering.
How did the firm cope with the economic downturn? During the economic downturn we continued to under write loans on the basis of sound economic principles rather than chasing loan volumes at the expense of good commercial practise. Short term, fast finance is always in demand in both a rising and falling market and therefore the business wasn't adversely affected by the recession in the same way that many other businesses have been.
A major scheme to build a new six-lane toll bridge over the Mersey between Runcorn and Widnes and ease congestion on the Silver Jubilee Bridge is underway. When completed, it is expected to generate £61.9 million per year in gross value added from new jobs and form the centrepiece of a road link connecting North Cheshire to the national motorway network.
2010
Seven different planning applications and legal orders for the project were approved including plans, compulsory purchase orders (CPOs) and listed building consent.
JAN
A total of 50 business premises in Runcorn and Widnes are notified of CPOs to make way for the new bridge.
2011
2011
Transport secretary Rt Hon Philip Hammond MP signs off a detailed funding agreement. Government agrees to contribute £470m towards the £589m cost during the project’s lifetime.
DEC
Planning applications for modifications to the plans are submitted. They are approved in March 2011.
JUN
Merseylink is named as the preferred bidder for the project. Plans to create 470 permanent full time jobs during construction.
OCT
2011
2013
NOV
2013
MAR
2014
How has Bridging Finance Solutions promoted the benefits of specialist finance? We continue to deliver for a range of professional sectors including surveyors, mortgage brokers, solicitor and accountants, and it is their word of mouth that has undoubtedly helped us promote the benefits of bridging finance. There is still a stigma attached to bridging where it is looked at as last resort lending, yet more professionals are increasingly considering short term finance as a viable solution to client's requirements. The best promotion is delivery and successful use of the product to help clients achieve their ambitions.
MAY
2014
AUTUMN
2017
An application to improve Bridgewater Junction in Runcorn is approved by Halton Borough Council. Preparatory work begins clearing trees from sites in Astmoor, Bridgewater and Ditton areas.
Chancellor confirms a £270m government guarantee to support the project. It guarantees 50% of the senior debt required to finance the project with the remainder provided by the project finance market.
Work begins on access roads across sensitive salt marsh environments on both sides of the river. Work begins on demolition work, accommodation compounds, three pylon cofferdams from floating barges, temporary trestle bridge and road network upgrades at Bridgewater Interchange.
The proposed opening date for the bridge will be in 2017, according to the plans.
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Move Commercial Events Oct-Nov
EVENT PLANNER
Our pick of the best local events
21 OCT
23 OCT
3 NOV
13 NOV
Business tenancies legal trends and tactics in a changing market DoubleTree by Hilton, Manchester 6pm – 7pm
Planning Law Update Breakfast Seminar Pall Mall Court, King Street, Manchester 8am – 10am
Business Leaders Lunch Briefing in collaboration with the High Commission of Canada Citylabs, Oxford Road, Manchester 12pm – 3.15pm
Professional Liverpool AGM West Reception Room, Liverpool Town Hall 11.15am
Aaron and Partners provides expert advice on the latest legislative changes, covering both the English and Welsh planning systems. Free. www.aaronandpartners.com
Keynote presentations, panel discussions and investor testimonials will be delivered during this event, offering insight on the investment opportunities available in Canada. Free tickets. www.iod.com
Legal experts will be on hand to provide up to date guidance on changing tenancy conditions in commercial property. Tickets, priced £30, available to RICS members and non-members. www.rics.org
23 OCT
30 OCT
The Creation of a Northern Economic Powerhouse One Day Conference Town Hall, Manchester 8.30am – 6.30pm
Halton & Warrington Business Fair Halton Select Security Stadium 10.30am – 3.30pm
High level presentations by HS2 and Network Rail to airports and the Atlantic Gateway, followed by a panel discussion featuring companies such as Peel, ASDA and Tatton Estate. www.built-environmentnetworking.com
Catering for every type of business, this event features free advice and information including workshops and seminars, start-up support and tendering information to networking opportunities and more. www.businessfairsuk.com
PICK OF THE MONTH
6 NOV Your Move Property Awards 2014 Lutyens Crypt, Metropolitan Cathedral, Liverpool A highlight of the Merseyside industry’s events calendar, this annual event returns to celebrate another year of success in commercial and residential property. www.yourmovepropertyawards.co.uk
Upgrades to ACC Liverpool complete
The refurbished atrium and galleria
The latest stage in a £2.3 million refurbishment of ACC Liverpool is complete, after an overhaul of the atrium and galleria at the events venue. The ACC Liverpool, which comprises the BT Convention Centre, Echo Arena and the under construction Exhibition Centre Liverpool, has undergone the refurbishment to improve facilities for visitors to the venue. Changes include a new coffee shop, which will be managed by inhouse catering team Centerplate UK. The area will be rebranded as 1207 Coffee after the year the city was founded. Meanwhile, the cloakroom has been expanded, new furniture has been installed in the public areas and new organiser
offices, meeting rooms and a new boardroom sponsored by energy giant E.ON are also included in the refurbishment. Cosmetic improvements include LED lighting to theme and colour events and upgrades to star dressing rooms. Bob Prattey, chief executive of ACC Liverpool, says: “We continually assess client feedback so that we can provide the best possible facilities for visitors. This latest phase is part of a two-year plan which has so far included, among other enhancements, the refurbishment of VIP boxes in the arena; wi-fi upgrades to improve bandwidth and connectivity and a wider range of technical equipment.”
Members are invited to enjoy a drinks reception and lunch in the Town Hall’s ballroom, followed by an opportunity to hear about the successes of the past year. Call 0151 224 1855.
11 NOV
14 NOV
CDM 2014 & HSE Priorities for Construction Village Hotel Bromborough, Wirral 6pm – 8.30pm
Kirwans Black & White Ball in Support of Claire House Leasowe Castle, Wirral 7pm – 1am
Organised by the Merseyside branch of the Institution of Civil Engineers, this meeting will welcome the HSE Inspector to discuss new regulations and priorities. Email davehaddon@live.co.uk
Join the Merseyside law firm for an evening of dining and dancing to boost funds for the children’s charity. Guests will enjoy a threecourse meal and wine followed by a raffle, live music and a DJ. Tickets £45 per person. Email charitycommittee@kirwans.co.uk
Manchester targets Baltic investment Manchester is targeting technology growth companies in Finland and the Baltics, after signing up to UK Trade and Investment’s ‘Take That Tech to the UK’ competition. Finalists in the competition will be chosen by a panel of judges on 17 November at the British Ambassador’s Residence in Helsinki as the competition aims to encourage companies to select the UK as their location to set up and grow the business. Manchester is offering a package of benefits to the selected winners. The winners of the competition will get six months’ complementary hot desk space, membership to the ‘On the 7th’ business lounge at The Landing, MediaCityUK, legal support from Bermans Solicitors, tax advice from Deloitte Manchester, PR support from Weber Shandwick Manchester and one year’s free membership to Manchester Chamber of Commerce. The entrants will be judged on criteria including past company growth, how innovative the company is, customer validation, how closely the company’s product or service relates to the UK market and the potential for growth in the UK. Winners will also receive one year’s membership to the Finish-British Chamber of Commerce and a place at a seminar, workshop or conference at London Technology Week in June 2015. For more information visit www.tech2uk.com
Tell Move Commercial about your commercial property and business events. Email post@movepublishing.co.uk MOVE COMMERCIAL 45
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Get the north-west’s latest business and property news wherever you are. www.movecommercial.com
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Expert views Ask the panel
What do we mean by the term ‘smart city’ and how can the North West become a world leader? From digital infrastructure to transport links, mixed-use developments to thriving communities, the concept of a smart city is a broad one. With an increasing focus on making our cities smart, we ask four experts what they believe the most important aspects of a smart city are and how the North West can lead the way.
Manchester’s Smart City Strategy focuses on three main areas: • Smart infrastructures to support the digital economy, mobility and sustainability; • Smart skills to enable local people and businesses to create and sustain jobs; • Smart quality of life to support smart living, health and well-being. Manchester is proud to be a founder member of the European Network of Living Labs, which promotes user-driven open innovation to underpin smart, sustainable and inclusive growth. We are working with more than 50 cities across Europe to develop future internet enabled services in smart cities. This involves a wide range of experimental projects ranging from smart energy management to new forms of creative industries. All of this work is underpinned by the belief that, to be a smart city, you must have smart citizens. Consequently this means that there is as much commitment to, and investment in, developing the skills and aspirations of local people as with smart technologies. This is what we believe sets Manchester’s approach apart. Dave Carter, Centre for Urban Policy Studies (CUPS), University of Manchester and chair, European Connected Smart Cities Network
At the last count there were 300 plus and counting definitions for a ‘smart city’ and more than anything this serves to show how broad and allencompassing this agenda is becoming as big technology giants, cities and governments rush to position themselves in the smart city space. Cities are approaching the agenda in one of two ways. Firstly, there is the top down off the shelf model.
The second is a more bottom up approach, which seeks to stimulate the local ecosystem of SMEs, universities and other industrial and public sector partners. The latter seems to be more appealing in terms of generating greater local economic, social and environmental benefit, whilst at the same time not avoiding getting ‘locked-in’ to proprietary systems. The latter, if designed correctly, can help contribute towards the reform of public services, making them more efficient and tailored to citizens’ needs, whilst at the same time helping to link asset, infrastructure and opportunities to drive growth. It also gives cities a better chance of creating places, which meet the needs of tomorrow’s entrepreneurs and business people.
regions, the North West already has such firm foundations upon which to build and there is no reason why it shouldn't be pioneering the concept of smart cities in order to set an example for cities outside of the UK.
A smart city is a place that works for visitors and all its citizens. That’s the end game – creating a place where people want to live and work. One element of that is blending the old and the new – because history and architecture are part of the mix. Liverpool has a great offering in this respect; providing quality, great value office space for employers, alongside a fantastic quality of life for staff, which doesn't cost an arm and a leg. I think there’s more emphasis now on cities being fun places – the high street, as it were, is less important than it was before, as so much shopping happens online. So it’s important that cities like Liverpool have a superb lifestyle offer - arts, culture, nice places to eat, safe streets at night etc. Liverpool now scores highly against these measures. There are always daily challenges around the fundamentals – is it clean, safe, attractive, well connected physically and digitally and functional for people from all walks of life?
John Ogden, managing director, CBRE North West
Ann Lodge, joint chief executive, Downing
Steve Turner, head of future cities, Manchester City Council
I see a ‘smart city’ as one benefiting from committed investment into human and social capital as well as traditional infrastructure like transport and modern infrastructure such as communications. These areas combined will fuel sustainable economic development and facilitate a high quality of life for those working within smart cities. This in turn will contribute to the attraction of inward investment, which further perpetuates the positive cycle. In order to ensure that the North West becomes a world leader, the theme of smart cities needs to be fully embraced so that there is a continued investment into both traditional and cutting edge infrastructure to attract the skilled workforce and innovators that will lead to business and economic growth. As one of the UK’s leading
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