move commercial 10

MOVECOMMERCIAL

November–December 2008

FREELIVERPOOL WIRRAL SEFTON KNOWSLEY

Merseyside’s guide to commercial property Issue 10

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

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MOVECOMMERCIAL

November–December 2008

FREELIVERPOOL WIRRAL SEFTON KNOWSLEY

Merseyside’s guide to commercial property Issue 10

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

Issue ten Move Commercial

Welcome to Move Commercial

News06 Watson Building gets go ahead 07 Retail giants sign up to

Liverpool One08 Baltic Triangle’s bright future09 Heritage buildings’ rebirth

and recognition10 Network Rail depot’s

transformation11 New Tesco planned for Toxteth13 Makeover for Haydock offices14 New tenants for Ormskirk offices15 Regenerated Tea Factory fills up17 Green business park due

to complete18 Nobles Construction bucks

the trend19 Connect Business Village

Features24-5 Mover & Shaker

Rod Holmes at The Mersey Partnership

30-31 Founding BusinessRensburg Sheppards on the city’s past, present and future

34-37 Keeping TrackA look at major projects in the current economic climate

38-41 Talking PointDebating The Mersey Gateway

42-5 Exchanging viewsMove Commercial’s business breakfast

46-7 Rising StarPaul Batho at St ModwenProperties

Key Events21 The 5k Team Challenge23 Mere Grange launch in St Helens27 Liverpool One office launch29 Martins Bank hosts

‘Monuments’32 Move Commercial business

breakfast48 Edward Symmons moves

into St Paul’s Square

Careers51 Appointments and

Agency AppointmentsWho’s joining whom and acting for whom

53 Q & A Barry Pearson, GB Finance, is in the spotlight

54 WhispersThe commercial propertygrapevine

Contents

10

15 34-37

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

This year the commercial property market has seenlandmark developments completed and plans approved forregeneration and redevelopment across Liverpool and thesurrounding region. Quite rightly, the city region has beenboosted by the recognition given to its status as Capitalof Culture, but it’s also weathered significant changes inthe financial and property market.

The future of property in Liverpool was the subject ofMove Commercial’s business breakfast at The ForesightCentre, with an invited panel and guests from all sectorssharing their thoughts and ideas; and the outlook was notas bleak as some may have suspected.

Our Founding Business looks at an investmentmanagement company that has weathered more than afew peaks and troughs in the economy, and continues tothrive in Liverpool city centre. We interviewed Rensburg

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

Our Mover and Shaker, Rod Holmes of The MerseyPartnership, talks to us about his passion for the city, and how his new role will see him use the skills whichmade Grosvenor’s Liverpool One project so successful forthe benefit of the Liverpool city region. Rising Star, PaulBatho of St Modwen Properties, fills us in on the GreatHomer Street regeneration project; the gateway into the city.

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

move publishing ltdAdvertising DirectorFiona Barnet Tel 0151 709 3871Advertising Sales ManagerJeff Porter Tel 0151 709 3871Account ManagerJo Tait Tel 0151 709 3871Art DirectorAdrian LloydEmail [email protected] Whyman, Helen Parker & Simon BeasorEditorial TeamLucy Oliver and Marie MartinEmail [email protected] 0151 709 3871

Published by Move Publishing LtdDirectorsDavid O’BrienKim O’BrienFiona BarnetDesign & ProductionThe Design Foundry36 Henry Street, Liverpool L1 5BS.Tel 0151 709 1633Printed by Acorn Web Offset LimitedDistribution Liaison ManagerBarbara TroughtonTel 0151 733 5492 Mobile 077148 14662

Copyright Move Publishing Limited. All rights reserved. No part of this publication may be reproduced copied or transmitted in any form orby 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 forthe veracity of the claims made by advertisers.

MOVE COMMERCIAL 3

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MOVE COMMERCIAL4

FOR SALE / TO LETMERIDIAN BUSINESS VILLAGEHUNTS CROSS, LIVERPOOL22 Self-contained offices from 1,374 to 5,406 sqftwww.meridianbusinessvillage.co.uk

0151 708 2250Information • Advice • Enquiries

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Ground Rent &Service ChargeCollection

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News Move Commercial

A PLANNING application totransform The Watson Buildinginto a four star hotel has been giventhe go ahead by Liverpool citycouncil.

The Grade II listed building, nextto Liverpool's famous Lewis'sbuilding, will be extended onto thesite of the former Rapid Hardwarepaint shop to form a 170,000 sq ft,180 bedroom hotel.

The Watson Building and formerRapid Hardware store wereacquired by Central RegenerationLimited Partnership, a joint venturecomprising Merepark and Irishdeveloper Ballymore, in late 2007.

The development will see therestoration of the largelyunoccupied Watson building,making full use of the existingseven floors and extending to afurther eighth and ninth. Thebasement will provide undergroundparking, accessible from CropperStreet.

An international hotel operator

has been secured for the four star-plus hotel, designed by architectsWoods Bagot.

Securing an further £50minvestment for the city centre, thescheme follows Merepark andCapital and Counties' £105mproposal to transform the Lewis'sbuilding into a 'full and vibrantmixed use leisure destination'.

Ian Jones, director of Merepark,said: The Watson Building is a keyelement within the Central Villageproject, which will form one of thelargest regeneration schemes inLiverpool.

“This announcement comes onlytwo months after the councilgranted planning permission forthe redevelopment of the Lewis'sbuilding.

“We are delighted these two keycomponents of the scheme havenow been backed by the planningcommittee and are now lookingforward to work commencing onsite early in the new year.”

Green light for city centrehotel proposal

DOWNING has announced a £1.4mrefurbishment project for 33,000 sq ftof office space next to the LiverpoolOne complex.

Graeme House and Victoria House areuniquely placed to build on the successof Liverpool One and the ongoing publicrealm improvements in the area.

Office accommodation in thebuildings, which front onto James Streetand Derby Square, will be upgradedalongside common areas and facilitiesbetween the two.

Robin Ellis, senior agency surveyor atDowning, said: “Graeme House andVictoria House are ideally placed tomeet the demand for back office space

as retailers locate to L1. The area is alsovery popular with staff as it hasexcellent transport links and is right inthe retail core.

“The occupier market is holding upwell and the credit crunch hasn'tchanged the fact that businesses stillexpand, leases still expire and tenantsare looking to achieve best value.”

Office space available at VictoriaHouse provides floors of 3,000 sq ftand a variety of suites from 2159 sq ftup to 29,783 sq ft are available atGraeme House.

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

for occupiers and Downing has a firstclass track record of deliveringimpressive schemes.

“Liverpool One's arrival will have animpact for office occupiers and we'reanticipating interest in the space, whichincludes an opportunity for a street-level presence at Derby Square, which isdue to undergo major public realmimprovements.”

Downing is one of Liverpool's largestprivate commercial landlords with someone million sq ft of officeaccommodation in the city centre,including landmark buildings TheCapital, the Port of Liverpool Buildingand No 1 Old Hall Street.

Downing refurbishment to capitaliseon retail boom

The plans for Renshaw Street

Graeme House,Derby Square

MOVE COMMERCIAL6

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A LANDMARK shopping centre inLiverpool is undergoing a £2milliontransformation as part of LandSecurities refurbishment project.

Work has begun on ClaytonSquare after receiving approvalfrom the city council in June this

year. The refurbishment willprovide a new flagship 24,000 sq ftJJB Sports superstore over twofloors, with its main entrance onParker Street. The store inWilliamson Square will move toaccommodate the new St John’sMarket.

Clayton Square’s transformationwill also see improvements toZavvi’s, which will operate on theground floor, and Game will expandits premises on the first floor.

The former public house frontingGreat Charlotte Street will be re-configured to form two retail unitsand bring new names to the

shopping centre.Tom Venner, retail development

manager for Land Securities,commented: “This investment inClayton Square forms part of LandSecurities’ long-term developmentproposals in this area of the citycentre. St John’s and ClaytonSquare occupy an important site,situated between Lime Street andCentral stations.

The majority of the work is takingplace out of hours and will besuspended in the run up to andduring the Christmas period. Therefurbishments are due forcompletion in September 2009.

Move Commercial News

Liverpool One pullsin retail giantsSuperstore to open, and redeveloped buildings prove attractive

THE REGENERATED heart ofLiverpool is celebrating moresignings to boost the city’s retailand leisure offering, with manyspaces leased in sensitivelyredeveloped and refurbishedbuildings.

The new lettings will also see ahost of new retailers to the cityopen their doors in time forChristmas trading at Liverpool One.In a multi-coloured pavilion in KeysCourt, Lollipop has taken 250 sq ftof space, and College Lane will seeOnitsuka Tiger open its first storeoutside of London in 1,701 sq ft inthe redeveloped warehouseformerly known as MooneysBuilding. In total, 11 existingbuildings have been retained andredeveloped across the LiverpoolOne site, including the Eagle Pub,which now houses the Sony centre.

In the biggest signing, Tesco willbe taking 2,929 sq ft of space overtwo floors above the Hanover StreetQ Park. In Chavasse Park, Korovahas taken 17,821 sq ft to add to theleisure offering in the development.

On Paradise Street, other retailtenants include Henri Lloyd,Lacoste, and Drome. South JohnStreet tenants include AdamsChildrenswear, Thorntons andNatWest. There are also plans to

lease the redeveloped ComptonHouse, and the Russell Building,the latter of which will house Ghost,Reiss and Dune. County Palatinehas also been redeveloped to househigh-end fashion store Jigsaw.

Neil Barber, head of retail leasingat Grosvenor, commented: “We

have 22 shops due to open betweennow and Christmas, which isexciting. Since the second phaseopened we’ve been overwhelmed bythe pedestrian flow; the footfall hasrecorded over half a million visitorseach week since the opening, andtrading is going well.”

Fashion chainhot on heels ofother retailersSOUTH LIVERPOOL shoppingcentre, Belle Vale, has signedanother fashion retailer to the mix

Blue Inc follows on from therecent deal made with New Look,to take 4,118 sq ft on a 10-yearlease.

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

Richard Barker, head of retail atDTZ in Manchester, comments:“This letting follows hot on theheels of the New Look deal andadds yet another fashion retailerto Belle Vale, strengthening theretail offer within the successfulscheme. A number of additionalnational retailers are in advanceddiscussions in relation to the15,500 sq ft extension, which isdue to be completed in January2008.”

Belle Valle shopping centre issituated six miles to the southeast of Liverpool city centre.Current occupiers includeWilkinson, Woolworths, Peacocks,Game Station and Boots. Argosopened in the scheme in October2007 and New Look is due toopen in November 2008. Thecentre has undergone asignificant internal refurbishmentproviding a clean and friendlyshopping environment.

Brasier Freeth LLP acted forBlue Inc. DTZ, Jones Lang LaSalleand Atis Real acted for FrogmoreReal Estate Partners.

Belle Valebeckons

JJBtransformationkicks inClayton Square makeover

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

Belle Vale Shopping Centre

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‘Shore’ successfor refurbishedWirral landmark

SMITH AND SONS has pre-let32,000 sq ft at Shore Lines, inWoodside, previously occupied byLittlewoods, to M D Insurance(trading as Premier Guarantee).

The premises, a Victorian brickbuilt train engine shed, is toundergo a refurbishment, carriedout by Smith and Sons’ clients,Merseyside Estates Limited,converting it into Grade A officeaccommodation.

Premier Guarantee is aninternational insurance company,based in Wirral and expanding itsoperation across the Peninsular.

Together with Cheshire Lines, thedevelopment will total over100,000 sq ft of officeaccommodation, representing thelargest single office complex inWirral.

The investment in the area willadd to the growing business and

cultural centre of the Woodsidearea, providing increasedemployment both in skilled officestaff and construction jobs andassist local businesses.

Peter Bowskill, partner at Smithand Sons, said: “Smith and Sons aredelighted to be involved in bringingthis expanding internationalcompany to a refurbished landmarkbuilding in the centre of town. It isreally good news for Wirral.”

THE BALTIC TRIANGLE is tobenefit from significant fundingafter it was announced that a£47m development has beensecured for the area.Liverpool’s second Hilton Hotelwill form part of the Kings DockMill development, along with 188apartments and 3,600 sq ft ofoffice space.The 151- bedroom hotel,operating under the innovativeHampton by Hilton brand, whichrepresents the firm’s first entryinto the economy hotel market, isdue to open at the end of 2009.Lloyds TSB Corporate Markets hasagreed to provide £22.5m toarchitect-developer LAG Prichardand Investec Private Bank hasalready ploughed £5m mezzaninefunding into the scheme.Jonathon Prichard, of LAG Prichard,said: “This development is anothersign of Liverpool’s continuedrenaissance – the fact that wesecured funding for this schemeand can now start on site in thecurrent market place shows itsquality and the confidence wehave in the city. We’ve workedclosely with the city council andLiverpool Vision to ensure thescheme is in keeping with theexisting architecture in this areaof Liverpool.”The 1.5 acre Kings Dock Milldevelopment is set for completionin January 2010.

Brighter futurefor BalticTriangle

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India Buildings’ rebirthTHE RE-BIRTH of one ofLiverpool’s most impressivelandmark buildings in the city’scommercial district has beenannounced.

Appointed by the buildings’ assetmanagers Atlas Management,Hitchcock Wright & Partners isacting as joint letting agentalongside Keppie Massie on thehistoric India Buildings in WaterStreet.

Originally built in 1831 for theBlue Funnel shipping line, the IndiaBuildings are a major part ofLiverpool’s heritage, and featurestunning American architecturewith a beautiful vaulted arcaderunning through the centre of thebuilding. The Grade II listedbuildings have been updated andimproved over the years, and were

last worked on in 1952 aftersuffering extensive damage inWW2. The work was undertaken bythe architect Herbert Rowse, whowas also responsible for Liverpool’sPhilharmonic Hall. Whilst keepingthe imposing and impressivefaçade, Rowse balanced the interiorwith an elegant, ornate ceiling inthe main entrance hall that, to thisday, provides to this day anexcellent contrast between thearchitecture and the modern office.

A variety of high quality officesuites are on offer, ranging from500 sq ft to 35,000 sq ft on a singlefloor plate. Built to exactingstandards, India Buildings offer awide range of features including 24hour access and onsite mannedsecurity, an in-house managementand maintenance team, basement

car parking, ladies and gentsshower facilities, storage andmeeting facilities. All of the spacehas the potential to be sub-dividedinto versatile, bespoke, self-contained units.

Neil Kirkham, partner atHitchcock Wright & Partners, said:“India Buildings offers the finesttrophy office buildings of its type inthe central business district ofLiverpool. There has been muchtalk of the central business districtmoving towards Old Hall Street,however, when accommodation ofthis quality is available within sucha landmark building, and in suchclose proximity to Liverpool Oneand other retail and leisureoperations, occupiers will naturallygravitate to an area that offers staffamenities on their doorstep.”

THE ICONIC Royal Liver Building is receiving amakeover.

The Royal Liver Group has appointedWarrington-based Claremont Group Interiors tocomplete design and refurbishment works in thelandmark premises on George’s Dock.

The decision to conduct a major upgrade on thebuilding came after this year saw the 100thanniversary of the Royal Liver Building’sfoundation stone being laid. The initiative isdesigned to ensure listed building’s interiormatches the standards offered by Liverpool’sthriving commercial market.

Claremont Group Interiors will modernize thecommon areas over nine floors, as well asrefurbish the third floor for tenants Office ofGovernment Commerce, part of the fourth andthe eighth floor.

Peter Fane, head of property at Royal LiverGroup, said; "I am delighted to have Claremont onboard as the principal contractor for the currentrefurbishment programme at Royal Liver Building.Claremonts' quality design, commitment andreliability coupled with their expertise andexperience make them the ideal partner for RoyalLiver to revitalise this iconic Grade I* ListedBuilding."

Philip Westood, associate director at Claremontsaid; “Working on such an iconic building is a greatopportunity for Claremont. The building deservesan interior to match its stunning exterior, whichwill provide Royal Liver’s tenants with aworkplace to rival any of the new buildings onoffer in Liverpool.”

Waterfront landmark building gets star treatment Celebrations for

Bluecoat at RIBA AwardsTHE BLUECOAT is celebrating a doublewhammy of awards as a north-west RIBA winand its recognition by English Heritage as ‘oneof England’s best heritage-led developmentschemes’.

The Grade I listed site, which is the earliestsurviving building in Liverpool city centre, andwhich has undergone sensitive restoration,was recognised in English heritage’spublication, Constructive Conservation, as anexcellent scheme showing how to ‘rescueheritage through regeneration’.

Its recent and imaginative £12.5millionconservation programme saw it reopen thisyear as part of the Capital of Culturecelebrations in the city, with a 200-seatperformance space, shops, galleries, eatingplaces and 26 studios for artists. The resultwas achieved through a collaboration betweenEnglish heritage, Liverpool city council, theBluecoat, Dutch architects Biq, executivearchitects Austin-Smith Lord, and conservationarchitects Donald Insall Associates.

Henery Owen-John, regional director forEnglish heritage, commented: “Both architectsand developers at the Bluecoat showed theyunderstood the value of this heritage site. The rest of the country can learn from thisexemplary story in Liverpool.”

Merseyside-based firm to refurbish the Liver Building

Water Street landmark revitalised

Royal Liver Building

India Buildings

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Edge Hill depot’s transformation NETWORK RAIL is investing£15million in brand new facilitiesat the Edge Hill TraincareCentre.

A new shed is being built onredundant sidings withinAlstom’s depot with advancedtechnology to allow better accessand facilities for maintenance

staff, and to provide upgradedservices for Virgin’s Pendolinotrains on the west coast route.

Peter Strachan, route directorfor Network rail, commented:“The £15million we are spendingon Edge Hill is just part of anoverall package to upgrade fiveAlstom Traincare Centres.

“The start of the Virgin HighFrequency timetable inDecember means that this depotwill handle seven Pendolinotrains each night, compared withthe five it currently looks after.We are also building it to be longenough to house the 11-carriagePendolinos in the future.

The investment in the depotsupports the wider regenerationof the area under the Edge Lanescheme.”

The first of the new trains willarrive by 2010, and all newvehicles will be integrated and inservice by 2012

Network on track

OAKLANDS OFFICE PARK in Hooton,Cheshire, has been complete, includingwith its surrounding woodland plantingscheme.

Carillion’s seven high quality officeunits, ranging from 2,520 to 10,080 sqft, have been awarded a BREEAM ratingof ‘very good’; highlighting the scheme’scommitment to energy efficiency andenvironmentally friendly constructionmethods used in the development. Thewoodland planting scheme at the site,located off junction 5 of the M56 orfrom bus and rail services at HootonStation, covers a 7.5 acres site. With theassistance of grant funding from theForestry Commission, facilitated throughthe Mersey Forest, the new plantingscheme enhances the existingwoodland which has been recognised byWirral Wildlife as a site containing

species of local importance. The second phase of development

was supported by a grant from theEuropean Regional Development Fundand the North West DevelopmentAgency, helped by Ellesmere Port andNeston Borough Council’s economicdevelopment department.

The third phase of the globaldeveloper’s plans for the site, which hasalready secured outlined planningconsent, is currently available for designand build office opportunities. There isalso potential to provide furtheraccommodation up to approximately40,000 sq ft.

Carillion was recognised as a companywith a high environmental impactcoming second place overall in theSunday Times Best Green CompaniesAward, published in May this year.

Green for go at Hooton Cheshire environmentally friendly office development complete

CGI of the new Traincare Centre

Oaklands Office Park, Hooton

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THE NORTH-WEST office of EasterDevelopments is celebrating salesand lettings at its new speculativesite of industrial units in Haydock.

Bowdon Developments havepurchased 8,000 sq ft at £80 per sqft and Corus, steel producer anddistributor, has pre-let 22,000 sq fton a ten-year lease at £5.25 per sqft at Easter Park.

The scheme, comprising a total80,000 sq ft, contains six buildingsranging in size between 7,000 and22,000 sq ft. Work is underway byPochin Construction, due forcompletion in November. Thescheme has been financed by thenorth-east office of Dunbar Bank.

Development director, MarkBraithwaite, commented: “It isparticularly satisfying to startanother project here in the north-west and we are very confident thatEaster Park will continue to provepopular. Two further units are also inthe solicitors’ hands, and we areexperiencing strong occupierinterest now that site works areapproaching completion.”

Finishingline in sightfor Haydockscheme

Superstore’s full houseNew Tesco store on site of bingo hall

A PLANNING application hasbeen submitted to Liverpool citycouncil for a Tesco extra‘regeneration partnership’ store inToxteth.

The proposed development,which has earmarked the site ofthe former Mecca bingo hall onPark Road for its premises, wouldoccupy 9,571 sq m, 537 car parkingspaces and a petrol filling station.The site will also house several

small retail units and acommunity café.

The scheme will recruit 300permanent new jobs for the area,with the majority of newemployees recruited locally, and atleast half through a localpartnership scheme which Tescohopes to set up with local trainingagencies in the Toxteth and Dinglearea. The scheme will specificallytarget the long-term unemployed,

offering a six-week trainingprogramme with guaranteed workwhen it’s completed.

Corporate affairs manager,Jennifer Duncan, commented:“Our approach is based on ourbelief that neighbourhood renewalis not just about bricks andmortar, but about renewing andstrengthening the life of a diversecommunity and helping socialcohesion.”

Easter Developments’new tenants breathe lifeinto the industrial estate

How the proposed Tesco will look

MOVE COMMERCIAL 11

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Office location set to open

ONE OF Haydock’s high profileoffice blocks is currently undergoinga makeover.

Bilsdale Properties is in the processof carrying out a refurbishment onNo.1 The Parks office space forcompletion in November.

The detached two-storey site offersover 120,000 sq ft of prime officeaccommodation across 15 buildings.When completed it will offer spacesranging from 6,425 to 13,271 sq ft,and current occupiers include EddieStobart, Speedy Hire, Lombard andMorris Homes.

Richard Wharton at King Sturge,joint agents for the site with BaileyDeakin Hamiltons, commented:“Once completed, No.1 The Parkswill provide occupiers with highquality office accommodation at acompetitive market price.”

The Parks is situated mid-waybetween the major commercialcentres of Manchester and Liverpool,with pleasant working environmentcontaining mature landscaped areasand generous car parking spaces.

Haydock makeover isa walk in ‘The Parks’

Business centre’s opening ‘kick off’

THE MAYOR and mayoress ofEllesmere Port and former Liverpooland Welsh International striker IanRush have recently opened PioneerHouse, a new business centreoperated by DBH Serviced BusinessCentres, in Ellesmere Port.

Pioneer House is a brand-new25,000 sq ft office building locatedat Pioneer Business Park, NorthRoad. The three-storey building is ofthe highest specification and breaksnew ground providing the latest inserviced office accommodation forthe area. The facility offersflexibility to occupiers with fullyfurnished serviced ground and first

floor offices available on an ‘allinclusive’ accommodating license.DBH can offer suites from 200 to300 workstations withrequirements up to 8,532 sq ftcatered for on the second floor.

DBH have already let 50workstations since opening thissummer and have an exceptionalrange of meeting rooms andfacilities available to occupiersincluding a bespoke telephoneanswering service.

Piers Goodall, the managingdirector of DBH said, “The launchevent was a great success with anexcellent turnout from the private

and public sector. People areextremely impressed with theaccommodation, the flexibility DBHcan offer, the level of service weprovide, the superb accessibility ofthe site and the specification of theaccommodation.

“With such testing economic times

ahead of us, our flexibility mustmake our accommodation attractiveto organisations questioning howtheir operations will change withthe downturn. We are pleased tooffer operators the ability to growor contract, and can provide asolution to suit all situations.”

‘Pioneers’ celebrate serviced business centre

Service Master launch atSpeke Venture Park, 31 October

Forward Point launch event inNovember

BCSC Conference andShowcase, ACC, Mon 10-Wed 12 November 2008

Tourism and ConferenceMembers Meeting of TMP– 18 November 2008

Sutton Kersh auction, 4 December, Marriott Hotel,Queens Square. Telephone 0151 207 6315.

Forthcomingevents

No.1 The Parks at Haydock

Pioneer Business Park

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Hat trick ofsignings forHattersley site Tenants celebrate Ormskirk office space openingTHE FIRST PHASE of HattersleyCourt in Ormskirk has beencompleted with three new tenantsconfirmed.

Software company AbacaSystems Limited and Hunter Millsfinancial advisors have taken twoof the six terrace units available,each occupying 1,950 sq ft. Inaddition, two suites have beencombined within Hattersley Houseand let to New Image TV.

Before developers PendleBracken rejuvenated the site onBurscough Road, which sits 600mfrom Ormskirk town centre, it hadlain empty since the closure of theold Hattersley Hender Foundry in2003.

The deals mark the first in the

prestigious offices with fourterrace units immediately availableand ten further suites withinHattersley House Business Centrefrom 340 sq ft.

Phase two is expected to becompleted by March 2009comprising up to 10,000 sq ft ofoffices within a detached buildingor which can sub-divided to suitespecific requirements.

Director of developing firmPendle Bracken Ltd, Neil Clark,said “Although much of the talklocally has centred on the retailelement of the scheme, the officepark element has brought muchneeded modern office premises tothe town”.

Joint agents Keppie Massie and

King Sturge have announced theofficial launch of Hattersley Courtin Ormskirk. The open invitationevent, which will take place from12pm on Friday 28 November, willshowcase the office units in thebusiness centre to potential clients.

Rupert Lowe, of joint lettingagents Keppie Massie, added: “Theflexible and high quality productson offer ensure that all officerequirements for Ormskirk and thesurrounding region can beaccommodated at HattersleyCourt. We are encouraged by thetransactions that have occurredprior to practical completion of thefirst phase and we look forward toagreeing terms with additionalparties in the near future.”


Five signings atnorth Liverpool sitePROPERTY DEVELOPING firmLangtree is set to launch phasethree of the WellingtonEmployment Park South project,against the backdrop of twofurther lettings in the popularDunes Way site.

Signorama and Fashion Finderhave already signed up for two ofthe original 20 units, leaving onlyfive available for sale and let. Thespaces range between 1,440 and8,423 sq ft.

The project, known as LFIVE, isdue for completion in December2008 and has its phase threesection based on Half CrownStreet. The site consists of24,000 sq ft of self-containedindustrial space that incorporates3,300 sq ft of office space on thefirst floor. Keppie Massie and GVAGrimley are now appointed jointagents on the deal and quote £6per sq ft for a new lease and £80per sq ft for a long leasehold.

Rupert Lowe, of Keppie Massie,commented: “The speculativedevelopment being undertaken byLangtree emphasises the successof the first two phases and theircommitment to the northLiverpool scheme. The unit will beof a very high quality and willoffer a unique opportunity tooccupiers. Interest is already beingseen at an encouraging level.”

Jayne Furnival, senior propertymanager of Langtree added, “Ourcommitment to North Liverpoolhas been rewarded with thesuccess of the first two phases atWellington Employment ParkSouth and we’re delighted to beon site with a third phase.”

Wellingtonwelcomesnew tenants

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Tea for twoNew tenants make a splash at urban site

AWARD-WINNING propertydeveloper Urban Splash haswelcomed another two new tenantsto the Tea Factory building in theRopewalks area of Liverpool citycentre.

Specialist interior design group,MYO, has secured a 1,600 sq ftunit, in the redeveloped space.Liverpool Primary Care Trust(PCT) has also taken 4,555 sq ft ofspace on a six-year lease.Relocating from the trust’s formerpremises in Wavertree BusinessVillage, the out of

Hospitals/Liverpool & Sefton NHSLIFT Programme Team will bejoined in the new offices by theLiverpool LIFT Company,Liverpool and Sefton HealthPartnership (LSHP).

Urban Splash has earned itsreputation as one of the country’sleading regeneration companiesand won over 250 awards to datefor its commitment to architecture,design, regeneration and businesssuccess, including 41 RIBA Awards.Graham Pink, chief executive ofLSHP said, “Having successfully

completed 6 new primary carefacilities over Liverpool and Sefton,the team at LSHP is constantlygrowing, and this created a needfor a larger, more centrally locatedpremises. We are delighted to be inthe new offices within the TeaFactory”.

New company MYO was set up inMarch this year, and founder PhilMay commented: “The calibre ofour services and clientele meantthat the offices had to reflect oursense of style; that’s something theTea Factory has, without question.”

Business parkproves popularIMAGE BUSINESS PARK atKnowsley Industrial Estate Northhas signed up another tenant toa substantial warehouse on thesite.

Minerals ResourceManagement, owned by HansonUK which is part of theHeidelberg Cement Group, joinsexisting tenants EastmanCompany UK, Ames GoldsmithUK and Future IndustrialServices at Acorn Developments’site.

Formerly one of the mainKodak manufacturing sites, andearmarked for Demolition, ImageBusiness Park benefits from thesite’s original range of modernbuildings, infrastructure, power,utilities and security facilities awell as the region’s excellenttransport links.

Tony Field, from Acorn,commented: “Image businessPark’s strength lies in itsflexibility, site infrastructure andlocation. The park appeals to abroad spectrum of companies,which can benefit from the site’sexisting and substantialinfrastructure.”

Knight Frank and King Sturgeare joint agents for ImageBusiness Park.

New imagefor tenantsin Knowsley

The Tea Factory, Wood Street, Liverpool

MOVE COMMERCIAL 15

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THERE IS A DIFFERENCETo find out what difference we could make to your business

contact Martin Murphy in our Liverpool office.

Anglo Irish Bank Corporation PlcThe Plaza, 100 Old Hall Street, Liverpool L3 9QJ

Tel: + 44 (0)151 242 6720www.angloirishbank.co.uk

Anglo Irish Bank Corporation Plc is regulated by the Financial Services Authority in the United Kingdom

MOVE COMMERCIAL16

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A LEADING German packaging firm haschosen Ellesmere Port for its first UKbase.

Prowell, a corrugated cardboardmanufacturer, has just finished what isthe largest industrial letting deal in thenorthwest this year. The company willoperate its UK distribution hub fromEllesmere Port Logistics Centre, anenormous 210,000 sq ft facilitylocated on the newly created PioneerBusiness Park.

The company, a full subsidiary ofProgroup AG, based in Offenbach,Germany, selected Ellesmere Port for itsfirst UK base after considering a rangeof sites in Cheshire, Staffordshire andthe West Midlands. The companyalready operates from nine otherlocations across Europe.

Howard George, of joint letting agentCBRE, explained that the site waschosen because of “its motorway links,proximity to port facilities, the excellentdeal being offered by the landlordsGoodman’s, and the support receivedfrom the local authorities in Cheshireand Ellesmere Port and the NWDA.”

Situated in Ellesmere Port’s EconomicDevelopment Zone within the EDZprogramme, led by Ellesmere Port andNeston Borough Council with the helpof the European ERDF and Governmentfunding from the NWDA, the area hasseen a multi-million pound publicinvestment around the M53 motorwaycorridor. Over a million square feet ofindustrial and office space has beencreated with over 10 business parksand industrial estates being establishedsince 2005.

Borough council leader, Cllr JustinMadders said: “Prowell’s decision tolocate in Ellesmere Port is a fantasticboost for the town and is clearly arecognition of the huge investmentthat has been made here by the privateand public sector recently. The boroughoffers businesses a dynamic location,with superb transport links, a widerange of good quality commercial sitesand premises, and access to amotivated and productive localworkforce.”

Prowell are expected to create around50 new jobs on the site.

German giantpacks intofirst UK base

A green visionfor StonebridgeBusiness park ready to open

INFRASTRUCTURE work onStonebridge Park is alreadyunderway and due for completionin November, yielding 33,400 sqm of office and light industrialspace.

The 29 hectare ‘green’ businesspark at Gillmoss, boasts animpressive park style setting andforms a key part of the Liverpoolregeneration project by LiverpoolVision.

Phase I of the project fronts theA580 East Lancs road west of theM57, comprising four

exceptionally high qualitybusiness units for let or sale it isestimated that up to 1,500 jobswill be created once the park hasbeen completed. Sizing up at13,041 to 28,884 sq ft the parkprovides further opportunity forspeculative development for theoffices and industrial uses.

Surveyor of joint agents KingSturge, Helen Moss said, “Thiskey, and much needed, projectwas made viable through theavailability of European fundingand the confidence and

commitment of both St Modwenand Liverpool Vision who haveworked very hard to provide ahigh quality product to meet localand regional demand.

“We are delighted that the firstphase is already attractingsignificant interest. The scheme’slocation is on a key arterial routebetween Liverpool andManchester thus puts it into aprimary and strategic sites in theMerseyside region and is anexemplar of regeneration in thenorth Liverpool area.”

Pioneer Business Parkwelcomes new manufacturer

Stonebridge Park

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A HISTORIC venue for music fansin south Liverpool has beenlovingly restored to its formerglory.

The Mustard Restaurant and Baron Smithdown Road, whichoccupies the ground floors ofHolyoake Hall, has undergone atransformation. The building wasonce part of a music hall played bythe Beatles, and partly belonged toa Co-operative store. The locallandmark is currently occupied byMustard on the ground floor, withresidential accommodation above.

The south Liverpool restaurantprimary located between BlenhiemRoad and Cramond Road andwalking distance from Penny Laneand Allerton Road is perfect foraccess to bars, shops andrestaurants and within easy accessto transport for the city centre andmotorway. The 200 seated openplan lounge and bar and 90 seaterdiner also have an option of anunused rear yard that has thepotential for conversion into a beergarden to seat approximately 50customers. There is alreadyplanning permission granted at theside of the building, with slidingdoors, connecting to the bar area.

Beatles venueenjoys a lift

Former Whitehousepub to be extended

Business Round up

LIVERPOOL-BASED NoblesConstruction looks set to beat thedownward economic trends byremaining on target for a record£20 million turnover in 2008.The company has just completed

four contracts totaling close to £3million. Nobles has, as a result,been shortlisted for two newtenders with a combined value of£5 million.

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

Mary’s school in Knowsley. It’s alsocompleted a 350 sq m extension atSt Michael’s and All Angels Churchin Pensby, Wirral, as part of a£500,000 contract to provide amulti-functional area for the localcommunity. A £269,000 projectsaw Nobles transform the maindining room and kitchens at StCatherine’s Hospital into three highquality new training suites with anadjoining new facility for WirralPCT’s Human Resourcesdepartment.

Peter Linford, a director atNobles Construction, said: “The St

Catherine’s project was atremendous success andshowcased our ability tosuccessfully work within thehealthcare sector.

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

Noble behaviourLiverpool construction company bucks the trend

The team at Nobles Construction

A LOCAL landmark is up for amakeover.

The former Whitehouse pub onthe corner of Berry Street and Duke in Liverpool city centrehas planning consent for anextension.The prominent locallandmark, which is a Grade II listed Georgian building and featuresBanksy’s artwork of a cat, hasbeen approved as a venue for anextended restaurant or bar on theground floor and basement, withthe potential for upper floor officeor residential accommodation.

The opportunity includes theformer Cocker Printers; a mid-terraced premises with anadjoining cleared land site on DukeStreet, for the redevelopmentplans.

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

The report canvassed senior figures in 460businesses from across the industry spectrum ahead ofthe second annual Merseyside Transport Conference.The movement of goods was highlighted as animportant factor in the functioning of organisationsand around half of those surveyed experience regulardelays.

Some 60 per cent of businesses said they hadexperienced some negative impact on their businessdue to delays in delivery.

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

were generally cautious about measures such ascongestion charging as the best way to tackle theproblem of commuting delay. More enthusiasm wasshown in the short term for increased flexibility inworking hours and bus priority measures.

Cllr Jean Quinn, chair of the Merseyside StrategicTransportation and Planning Committee, said: “Theinformation we are getting from local businesses isabsolutely invaluable. We are hearing what issues andconcerns are uppermost in the minds of companiesoperating in Merseyside.

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

Round up Business

Merseyside transportbeats other regions

Annual conference provides insight

CONNECT BUSINESS Village inNorth Liverpool has madesuccessful links in the commercialproperty market with a string ofsuccessful lettings.

Condy & Lofthouse Architects(CLA) is the latest company torelocate to developer Langtree’snewest business park. The award-winning architectural practice hasannounced its decision to take atwo-storey self-contained officebuilding comprising 3,182 sq ft.

The move will see the 30-strongwork force, which consists ofarchitects, technicians andadministration, relocate to the cityfrom its current premises inSouthport.

Andrew Armstrong, a director atCondy & Lofthouse Architects,said: “We are convinced that this isthe right move for the continuingdevelopment of our business. Wehave all been looking forward tore-locating to a new dynamicstudio environment and becomingpart of the success of ConnectBusiness Village.”

Connect Business Village, whichis located off the A565 DerbyRoad, provides 15 self-containedoffices ranging from 1,300 sq ft to3,400 sq ft. John Downes,managing director at Langtree,said: “Connect Business Village isproof that there is still a goodmarket for a high quality product.

ConnectingLiverpool’soffice marketNew tenants inbusiness village

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

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St.Helens has been officially identified as one of the most attractive office locations in the country1. Thanks to its prime regional connectivity - midway between Liverpool and Manchester - a catchment area of over seven million potential customers, and a highly cost-effective and business-friendly environment, St.Helens has a great deal to offer.

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

If you want to find the right reasons to locate in St.Helens, please call John Quirk, Business Location Service on 01744 742 011, visit www.investinsthelens.com or e-mail [email protected]

Connectivity,Catchment, CostThree good reasons to invest inSt.Helens…and there’s more

1East-West location, October 2005

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Liverpool Chamber of Commerce 5k Team Challenge Key events

Top teamsLiverpool Chamber of Commerce 5k Team Challenge brought suitsout in their shorts by the hundreds. Runners followed a track aroundthe Liver Buildings and the city centre to raise money for theirchosen charities, with Lovell, Grant Thornton, Mace & Jones,Berrymans, Liverpool Vision and Move Publishing all taking part.

1. Nathan Vengdasalem, Olympic Scaffold & Tower Hire, ‘Olympic Don’t do Second’ who came first at 16.56 minutes 2. John Owens, Berrymans Lace Mawer

3. Paul Hicken running for Grant Thornton ‘G & Ts’

3

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

4 5 6

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

7 8 9

By Lucy [email protected]

1 2

in association with

Where individualsmiles matter

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Mere Grange Business Park Launch Key events

Langtree LaunchSt Helens Units

A HIGH PROFILE rugby-themed breakfast launch was held to celebratethe completion of the £12 million first phase of a prestigious newbusiness park in St Helens; Mere Grange. The major development, justoff the St Helens Linkway, was built speculatively through a jointventure with developer Langtree and English Partnerships, and thefirst phase offers 54,000 sq ft of office space in detached and semi-detached units.

1. Cllr Brian Spencer with Paul Wellens from St Helens RLFC, Stephen Barnes from Langtree,

Jon Wilkin from St Helens RLFC and Eliot Lewis-Ward, from English Partnerships

5. Robin Evans, Matthews and Goodman 6. Kieran Grealis from Langtree with James Roberts from DTZ 7. Andrew “Wilkinson” Owen, Mason Owen

8. Jon Wilkin and Paul Wellens, St Helens RLFC

5 6 7 8


1

2. Tony Reed, Keppie Massie, with Andrew Owen of Mason Owen and Jeff Porter, Move Publishing 3. Stuart Keppie, Keppie Massie, with Aidan Manley, St Helens Council,

Malcolm Morgan from Morgan Williams and Chris Connor from Mason Owen 4. Justin Rouse, P3 Property Consultants, with Steven Greenway, Langtree and Daniel

Rodgers, P3 Property Consultants

2 3 4

9. Robin Evans, Matthews and Goodman, with Tony Reed from Keppie Massie, Jonathan Boucher from Cushman and Wakefield and Andrew Owen, Mason Owen

10. Nicola Wooding, English Partnerships and Keith Winter, Langtree, with Eliot Lewis-Ward, English Partnerships and Aidan Manley, St Helens Council

11. Cllr Brian Spencer with Stephen Barnes from Langtree and Eliot Lewis-Ward, English Partnerships

9 10 11

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ONE FLOOR UP from theinternational developer’s offices onLord Street, where Hilton will alsohave its new base in the city, is thevenue for our interview. With the lastphase of Liverpool One delivered todate with a Royal reception, fashioncatwalks and street entertainment inthe days previous to ourconversation, a sense of achievementand excitement, if that’s not too milda word, fills the busy office spaces. AsGrosvenor’s project director, Rod’srole in the Paradise Project waspivotal in re-landscaping the city. Foran international developer to investin any city will always make theheadlines; for Grosvenor to attempt aredefinition of Liverpool, assynonymous with shopping, workand play made waves within the city,nationally and across the globe.Unlike many developers, Rod seemsreluctant to give Liverpool One, themixed-use leisure, retail andresidential developments all thecredit for the city’s renaissance andrebirth. With a lively intelligence,gentle manner and quiet confidence,it’s clear that many years of researchand discussion, belief and

commitment are what have broughtus this far; and his new role as chairof The Mersey Partnership will seehim work in the same way as he hasdone in the city’s regenerationproject, but for the whole of theregion. He sees the new task asbuilding upon the foundations ofLiverpool One, and digging thetrenches further:

“In a sense, what I shall be doingwith the excellent team at TheMersey Partnership is a naturalfollow on from what I have beendoing here at Grosvenor for the pasteight years.

“Liverpool has always been a strongbrand as one of the central ports inthe world, and for its sport andmusic, but now it’s suddenly becomeagain known as the place ‘where theaction is.’ So let’s use that brand toour advantage, to bring in touristsand new businesses and investors,that already know quite a lot about‘the new Liverpool’ instead of callingit ‘Merseyside’, which doesn’t mean alot to anybody beyond the area.”

The origins of Liverpool One can betraced to the late 1700s with theGrosvenor family’s extensive estate

in central London, which now formsBelgravia and Mayfair. Beginningwith specialist office and high-endresidential schemes in the capital, thecompany’s work of more recent yearshas focused on large retail-ledmixed-use projects in other Englishcities with an urban focus. As aninternational company, it’s thatexperience of other cities and arefusal to accept the status quo whichhas informed the Paradise Projectwith a new, uncompromising visionfor the future of Liverpool.

Rod sees that his passion for thecity of Liverpool cannot but beaffected by, and effect change withinthe wider region: “Ever since Istarted work on the Paradise Projectwe had the benefit of the researchand marketing work that TMP does,as Grosvenor is a member, and Iknew about the valuable work it doesas the inward investment andtourism agency for the city region.What I hadn’t fully realised is therole it will play in bringing about thecity region as one economic unit, sothat we can compete with other largecities and conurbations, in what weall now call ‘the global economy’.”

Working in the Paradise Projectwas a hands on job; covering allaspects of the project from legaldocuments through to the concept,architecture, construction, finance,leasing and finding occupiers. In TheMersey Partnership, Rod’s non-executive role means he’ll berepresenting the organisationexternally. If a track record innegotiating to alter perceptions aboutthe city, within and outside it, are anindication of future success, thenRod’s gifts make him an excellentchoice for the new role: “I spent a lotof time explaining the greatopportunities there are ahead forLiverpool, and I have become veryenthusiastic about Liverpool people.Although I am a Yorkshire man andone of our homes is still in EastYorkshire among extended family, alarge part of my heart is here.”

Appreciating the different aspectsof an environment, the city, countryand the coast, is vital to selling theregion as a place for business, leisure,tourism and retail. The re-brandingof the city came about for theindependent boroughs to worktogether to help ‘sell’ each other’sproducts and services; some wouldsay to capitalise on the Liverpoolbrand for the benefit of the widerarea. It’s about breaking downboundaries to boost economicinvestment across the sub-region:

“I think we’re very fortunate tohave an organisation like TMP whichalready brings together the localauthorities and the private sector,because it gives us a team of peoplewho are used to working at the cityregion level. We’re lucky to have theTMP developing the sub-regionaleconomy at the time when we knowit is more important than ever.”

It’s a fruit of Liverpool’s recentsuccessful developments that a seedplanted many years ago will nowgerminate. For Rod, it’s a personalinvestment with wider implications:“People say ‘I am passionate’, butwhat I am extremely passionateabout and interested in is the waycities can change, and can change thelives of people quite quickly.Together with Mike Storey, leader ofthe council then, with his seniorofficers, we had this idea that if theheart of Liverpool city could bebrought to life again and madeexciting and dynamic, a lively placeagain, then it would not only attractvisitors but it would attract students,business people, investors, andentrepreneurs.

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

The decision to appoint the new chair of The MerseyPartnership from the private sector is expected, in allquarters, to energise the campaign to attract inwardinvestment and promote tourism in the LiverpoolCity Region; the new brand name for the areapreviously referred to as Merseyside. With the£1billion Liverpool One regeneration projectcompleted, redefining the heart of the city,Grosvenor’s Rod Holmes will now take on the taskof heading up the TMP.

Breaking theboundaries

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now is that idea coming to fruition;the universities are attracting morestudents than ever, and the city isattracting more tourists than ever.Despite the general economic climatethe shops again are doing morebusiness, the museums, art galleriesand theatres are attracting morepeople; largely because of the privatesector investment and the confidencethat people have shown in the cityand its people.”

With a career in developmentspanning 48 years, and severalcontinents, Rod’s private sectorbackground has seen confidence andrisk pay off to greater or lesserextents, where there are no buffersfor poor judgements and hastydecisions, but can see changes andresults. Rod believes that Liverpool’s

private sector investment can changethe city in ways government fundedschemes cannot: “The change I’vewitnessed most is, above all, in theway young people now feel about thecity and their future in it. I thinkthat’s a wonderful thing. I want to bearound as it moves forward, and theenergy, creativeness and goodfeeling, now moves out into thoseareas which have been struggling forfar too long, and into the other partsof Merseyside.”

But why such a passion forLiverpool, out of all the citiesGrosvenor has worked in? For Rod,it draws a contrast with his Yorkshirereticence: “Here I am in a city whichwears its heart on its sleeve, that’snot afraid sometimes to get thingswrong, and to be a bit silly. I find that

every attractive. We sometimes goover the top here, and it’s important.If you’re always being careful, youdon’t live.

“What happened for far too longwas that the city and the outsideworld just concentrated on thesilliness and the unsuccessful aspectsof life here. Now, partly throughinvestment and development, andpartly though Capital of Culture, theworld at large has realised that thereis much more to Liverpool than thestereotypes and caricatures whichhave been associated with us for fartoo long.

“The TMP is a pact between localauthorities in the region and theprivate sector, and I think it’sappropriate that they have nowchosen a chair from the private

sector because it’s important thatpeople know that it is ultimatelybecause of private sector investmentand confidence in the city that we arenow moving forwards, after years ofvery little investment and virtually noconfidence in Liverpool. That ischanging now, and we have got to besure that it continues.”

It’s no easy task which Rod sets outfor The Mersey Partnership:

“Nobody, least of all me, is underany misapprehension that what liesahead of us is going to be easy. Wecan make it easier by being very clearabout what needs to be done; that we‘have to’ catch up and overtake othercity regions, and that we can do so ifwe have at the heart a very powerful,energetic, centre.

“Great, important things are atstake, not least the health, education,and the careers of our children andgrandchildren. We have to be veryserious about what we’re doing. Wehave to aim very high. The privatesector is a very serious andsometimes hard-nosed world. Wehave to be able to take it on its ownterms. Investments, development,business, has to show returns. Wehave to understand how creatingreturns on money creates theresources for social andenvironmental challenges, andcultural life. If John Lewis andDebenhams and the other shopsdon’t make profits, they can’t payrents. If the rents are paid, we cancreate Chavasse Park, clean thestreets and so on; when the rents arepaid, then taxes are pumped backinto other projects for thecommunity like the EverymanTheatre and the Playhouse - and thebig spider.”

For a non-native Liverpudlian, Rodis a firm believer in the city and theregion’s future, and has seen thepotential of its young people whohave visited the Shop for Jobs, thathe helped to establish below theLiverpool One office: “At heart I aman optimistic person and I have agreat confidence in human nature,and affection for people. I care aboutwhat lies ahead for our young people,especially now that I’m a granddad. Ilike to hear from them how excitedthey are about working at the heartof an exciting place. When you gointo a shop or restaurant and seethem keen and ambitious, that theyfeel that they’re at the heart of things;I find that very exciting.”

The city’s come a long way in thepast nine years and, with a regionalvision, who can say where it will takeus in a few more?

Rod Holmes Movers & Shakers

MOVE COMMERCIAL 25

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Liverpool One Key events

Liverpool One office launchAN OPEN morning at Liverpool One’s first officedevelopment in the Stanley Building, Russell Building andCompton House on Hanover Street saw propertyprofessionals, and those interested in leasing the space,mingle as they toured the 35,000 sq ft of revamped andrefurbished office suites.

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

3

4. John Lowe, Boland Lowe, with David Porter from Knight Frank, and Martin Tyrer, Boland Lowe 5. John Brown, Knight Frank, and Anne King, Paul Moy Associates

6. Sarah Delucia, Gilling Dod, Liz Richards, Office Angels Recruitment, with Tony Reed and Andrew Byrne, Keppie Massie

4 6

7. Heather Thompson, Grosvenor, and Phil Owen, Brock Carmichael Architects, architects for the building 8. Martyn Green and Louise Bardsley, King Sturge

9. Paul Richardson, McKays Solicitors, and Stuart Keppie, Keppie Massie 10. Inside the offices

7 8 9 10


1

2

5

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MOVE COMMERCIAL28

TO LETBanking Hall & Offices

4waterstreet.co.uk

40,000 sqft

Up

to

(3,716sqm)

Leasehold by assignmentThis Grade II listed accommodation offers an impressive

environment for a range of uses including a landmark company

headquarters or a potential boutique hotel, leisure operator,

niche retailer or restaurant at the heart of Liverpool’s business

district. Subject to consents.

IMPRESSIVE.OPULENT.UNIQUE. LIVERPOOL

p21-39:p03-12 20/11/08 08:13

MOVE COMMERCIAL 29

Monuments Exhibition Key events

Landmark buildingplays host to Biennial

AN EXCLUSIVE private viewing of the biennialexhibition ‘Monuments’ by Liverpool bornartist Terry Duffy was recently held to marketthe former banking hall at 4 Water Street,Liverpool.

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

well as business leaders from around the city.Also on display were the proposals to

transform the banking hall into viable officeaccommodation, offering up to 40,000 sq ftof space for a range of uses including acompany headquarters or a trophyhotel/leisure operator.

2. Rod Holmes, The Mersey Partnership, and Tim Marshall, Bremners 3. Alun Jones and Samantha Dunning, Barclays, and David Al-Hadithi, The Design Foundry

4. Rikki Griffiths, Barclays Commercial 5. Tim Gray, OSS Securities, Lesley Martin-Wright, JST Lawyers and Stuart Keppie, Keppie Massie

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

2 3 5

6. David Evans and Maria Burquest, DWF 7. Peter Summerfield, Summerfield and Lang Ltd with Bob Chadwick and Kim Zadow, RCP Architects

8. Robin Ellis, Downing, and Tim Bingham, Bingham Davis

6 7 8

9 11

9. Ann O’Connor and Steve Morley, Cameron Corporation Ltd 10. James Clarke and Jeff Gillbanks, Brabners 11. David Sayer, GVA Grimley with Andrew Kellaway from

Todd and Ledson and Alun Jones, Barclays


1

10

4

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JOHN WELCOMES me into ameeting room on the thirteenthfloor of The Plaza on Old Hall Street,where fantastic views over the citygive a sense of perspective to a busyfinancial corporation. From itsorigins in the city in 1873, when theDutch broker and merchant HenryRensburg founded the business,Rensburg Sheppards has grown tooccupy a coveted position at the topof the investment management tree.Over the years, trading andinvestment has changed, but Johntells me that Liverpool remains acity with a strong sense of theimportance of equity investments:“Liverpool was the wealthiest, orsecond wealthiest city whenRensburg came here, and that was ahuge magnet for him. Over the yearswe’ve grown and developed ourservices, and acquired CarrSheppards Crosthwaite, the Londonbased company owned by the southAfrican bank Investec, in 2005. This

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

The firm now have 11 offices acrossthe country with several in London,and in the north too; Leeds,Manchester, and Sheffield. At thetime of the 2005 acquisition, thecompany went on record as sayingthey were looking forward to gaininga foothold into the incrediblywealthy south-east. It’s undoubtedlythe case though that such expansionwas based on the firm foundationsof the business’s success inLiverpool: “The original wealth inLiverpool was due to the cottonbeing brought here after it waspicked in the Empire. It wasprocessed in the mills in Lancashirebefore it was then exported backthrough Liverpool. For this reason,Liverpool was not just gaining a

reputation for being a wealthy city;it also has a strong tradition ininsurance for cotton, corn andanything else brought into the port.

“It’s interesting that in the 50 yearperiod post-war, a person may haveowned a portfolio of shares that wasjust quoted in the UK. Before that,the majority of shareholders’ wealthwas invested overseas, as that’swhere the Empire was. I wasclearing out my father’s house and Ifound an old copy of the LiverpoolCourier from 1920 which just liststhe amount of goods being traded inand out of Liverpool. For thisreason, Liverpool has a muchstronger culture of equityinvestment and insurance thanother cities, even not too far away.”

Liverpool is also able to offer theexpertise necessary to a big financialfirm: “The city has a strong clerical,financial and administrativeworkforce which we’ve seen grow,and when we acquired Carr

Sheppards Crosthwaite we movedthe administration department uphere. We doubled the staff from 70to 150. The reason we were able todo that is due to the pool of talent inLiverpool; and that’s beenrecognized by the Bank of NewYork, Tilney, and Rathbone.Liverpool is unique in the UK. As aprovincial city, we’re still the centreof larger investment managementfirms, and for the city to have suchstrength in this sector is good forLiverpool as a whole.”

In the current climate, the sector ischanging, however, but RensburgSheppards are prepared to meettheir clients’ new demands: “Therehas been a change over the pastthirty years from our core expertise,as people need broader financialadvice. You don’t need to be hugelywealthy to have quite complicatedtax affairs now, due to inheritancetax and capital gains tax legislation,and fiscal drag. Occupations that

In the late nineteenth century, a Dutch merchant cameto Liverpool to reap the rewards of the trading capital,and set up a company selling stocks and shares.Rensburg Sheppards, as it is now known, grew steadilyover the past 150 years to become the leading companyof investment managers in the city; keeping a fingerfirmly on the economic pulse to take advantage of newopportunities for investors in Liverpool. John Seal isdirector in charge at Rensburg Sheppards and is aspassionate about the financial market and the city ashis company forebear.

A capitalinvestment

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traditionally wouldn’t have putpeople in the higher tax bracket nowdo so, so we offer a roundedfinancial advice package. Themovement in that direction has beendemonstrated in recent weeks,where we’ve spent more timeanswering queries than we havetalking about investments.”

Property has long been regardedas a valuable investment,comparable with a pension, butJohn is keen to stress that propertyand equity should not work inopposition: “For investors the mostimportant thing is to invest in avariety of asset classes. To a certainextent, for the last ten years,property has been seen as the onlygame in town. That’s been down tothe equity market having a difficulttime from 1997 until 2003 when theone hundred shares index halveddue to the excesses coming into thesystem From the ‘dot com boom’.

“One thing we have seen over the

last six months has been thedangerous assumption in parts ofthe mainstream press that propertywas somehow an investment thatcouldn’t fall in value. If you look atthe broader indices, you see that, infact, equity and property returnshave been very similar over the lastforty years.”

“One area that has seen excellentdevelopment has been with REITs;the Real Estate Investment Trusts.These removed the tax disadvantagein property investments, and waswonderful news for the smallerinvestor, who could gain access tothe commercial property marketthrough the equity market. UKcustomers have embraced theconcept over the last twelvemonths.”

If an investor should take outequity and property investments, it’s also wise to have some cash.John also recommends governmentgilts to clients; widely seen as the

soundest investment. On the subjectof the government’s rescue plan forthe banks, John believes that thatwas the only thing that could bedone to free up the markets again.His view on the north-west’ssituation is that Capital of Cultureshould help to improve the city’simage and its fortunes: “Liverpooldid lag behind in the 70s and early80s but we’ve seen a renaissanceover the last ten years that’s justgathering speed.”

Originally from Preston, Johnspent the early years of his life in thesouth before moving back up to livein Southport. A passionate golfer, itwas the quality of life up here whichinformed his decision not to work inLondon.

“For our founder, Henry Rensburgthe port was central to business;most of the great cities in the worldhave access to the sea. The entranceat Liverpool is still regarded as oneof the most attractive port entrances

in the world.” Furthermore, theclose relationship between businesssuccess and cultural activity isunquestionable, as John continued:“Rensburg’s passion for music sawhim introduce many of the earlycomposers and musicians to the city.Today, Rensburg Sheppards remainone of the Philharmonic Hall’sprincipal patrons.”

Looking out over the city fromhigh up in The Plaza building, alandmark in the city’s history of new office buildings, RensburgSheppards occupy 23,000 sq ft ofspace on a single floor: “When wemoved in, it was the JM Centre andwe were one of only two non-Littlewoods related businesses inthere. Now, we’ve seen thecommercial district move further upOld Hall Street, and there’s been anattractive makeover at The Capital.”With its roots in the city’s historyand its heart in its future, this issurely a perspective worth taking in.

John Seal Founding Fathers

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Key events Move Commercial Business Breakfast

The future for property

MOVE COMMERCIAL’S latest business breakfast asked its panel, ‘Where is the property market heading?’ over pastries and coffee at The Foresight Centre on Brownlow Hill. Chaired by journalist andbroadcaster Liam Fogarty, and sponsored by prestigious law firm,Halliwells, property professionals discussed Liverpool’s renaissance andfound hope for the future even under the current economic climate. 1. The Halliwells table

5. Ashleigh Harvey, Halliwells, and Diane Spivey, Liverpool Vision 6. Howard George, CBRE, and Chris Connor, Mason Owen 7. Neil Kirkham, Hitchcock Wright

and Partners, and John Brown, Knight Frank 8. Simon Barlow and Paul Davenport, Bank of Scotland

5 6 7 8


2. David Littler and John Sawbridge, Rensburg Sheppards 3. Liam Fogarty, breakfast debate chair, with panel members Stuart Keppie, Keppie Massie, Paul Taylor,

Barclays, and Peter Stoney, University of Liverpool Management School 4. Kevin Lee, Halliwells, and George Downing, Downing

2 3 4

9. Ann Lodge, Downing, and Lesley Martin-Wright, JST Lawyers 10. Alex McCann and Rose Moss, Halliwells, and Robin Ellis, Downing

11. Nigel Cooper, Barclays, and Bill Dickinson, Hannan Associates

9 10 11

1

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The last couple of years have seen Liverpool and thesurrounding area begin a number of ambitiousdevelopments, along with exciting proposals, forcommercial and public benefit but, in the currenteconomic situation, how are these projects holding up?We’ve taken a snapshot of the region’s major schemesto see what’s on target, and what may be affected bythe current financial climate.

Project: Museum of LiverpoolLocation: Pier Head, Liverpool’swaterfrontDeveloper: National MuseumsLiverpoolCosts: £70million in totalHow is it being financed: NWDAgrant of £3.7million, European grantfrom Merseyside Objective Oneprogramme for £5million, GarfieldWeston Foundation pledge of£1million, DCMS government pledgeof £500,000, Heritage Lottery Fundgrant of £11million for the fit-outof the museum, £400,000 in

development funding from HLF forMuseum of Liverpool and£2.75million pledged from a varietyof other sources.Intended commercial use: A newpublic museum for the people ofand visitors to the city.Scheduled date for completion:Due to open in 2010.On site/expected on site: Workcurrently underway.Likely or confirmed tenants:This building is designed and builtfor the end-user.Spin-offs: This will provide a major

boost to the economy on thewaterfront, attracting more than750,000 visitors per year and,before that, providing at least 500construction jobs and 73 directpermanent jobs.Likely to be affected by thecurrent financial crisis? No, publicfunding is secured to take thisiconic development through. Afterthe waterfront’s troubledrelationship with planners, thispublic-orientated scheme looks setto complement the city’srenaissance.

Keeping track:Regional ProjectsUpdate

India BuildingsWater Street

Location: 500 acre project atBirkenhead docksDeveloper: Peel HoldingsCosts: £4.5billionHow is it being financed: Peel‘scommercial investment into thewaterfront. Speculative/non-speculative: Thisis part of a 30-year plan toregenerate the north-west with aniconic waterfront to rival cities suchas Shanghai, New York and Sydney. Intended commercial use: 5 million sq ft office accommodation,571,000 sq ft retail and leisure spaceand 15,000 new homes.Scheduled date for completion:Online planning due at the end of theyear.On site/expected on site: Therewill be an update on progress inJanuary 2009.Delivered on target? Peel has anexcellent track record in deliveringhigh quality, successful regenerationschemes, to budget and to target,such as £600m Trafford Centre. Likely or confirmed tenants: Not as yet.Spin-offs: The benefits of a world-class iconic waterfront, a boost to thelocal economy, inward investment andthousands of new jobs in Wirral.Likely to be affected by thecurrent financial crisis? This is along-term project of investment andregeneration, with secured funding.Planning issues are more likely toaffect this project than financialones. Let’s hope local councils willsupport this major regenerationscheme.

Museum of Liverpool

Wirral Waters

CGI of proposed scheme

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Economic Climate Update Focus

Location: Port of Liverpool, waterfrontDeveloper: Peel HoldingsCosts: £100m.How is it being financed: Peel Speculative/non-speculative: Thisproject is designed to accommodate theworld’s largest container vessels inSeaforth by building a 42-acre terminalcapable of accommodating two post-Panamax ships.Intended commercial use: This willallow the largest cargos to arrive intoLiverpool for unloading; said toeliminate 800,000 truck movementsand save the north-west industry£100m a year. Scheduled date for completion: Latestpress information specifies that plansare currently being drawn up, with

costings for the project which alreadyhas government consent.On site/expected on site: Informationnot available.Likely or confirmed tenants: This is aproject with a specific industry inmind. Spin-offs: The impact of this facility onthe industry will certainly boostLiverpool’s trading.Likely to be affected by the currentfinancial crisis? This project is a long-term development of regional andnational significance and, judging bythe developer’s commitment to the city,unlikely to be affected by the currentclimate.

Location: Stanley Park, Anfield, Liverpool Developer: Laing O’RourkeCosts: £350mHow is it being financed: £9.3m fromNWDA, private investment of around£300m from new investors.Speculative/ non-speculative: Non-speculative.Intended commercial use: 73,000-seater sports stadium, commercial use –shops, restaurant, conferencing.On site/expected on site: Originallyplanned construction for 2007 but delayeddue to credit crunch.Delievered on target: Received planningpermission in June 2008 but due tofinancial difficulties will not meet target tobe open for the start of the 2011/12season.

Likely or confirmed tenants:Liverpool FC.Spinoffs: The former home of LFC atAnfield is to be developed to become theAnfield Plaza. This will be a tourist attractionto include a hotel, bars and restaurants, 1.6hectares of high quality public open space, atennis centre and multi-use games area,shops, residential, offices and communityuses. In conjunction with plans for a newstadium is the restoration of Grade II listedStanley Park, which includes the conversionof Isla Gladstone Conservatory.Likely to be affected by the currentfinancial crisis: Yes. Liverpool Football Clubhas recently announced that the project isaffected by the global market conditionsand therefore subject to delay in the shortterm.

Location: Widnes WaterfrontDeveloper: Widnes Regeneration Ltd.This is a joint venture between HaltonBorough Council and St ModwenProperties PLC.Costs: £10millionHow is it being financed: WidnesWaterfront is one of only fourteenEconomic Development Zones (EDZ) in thenorth-west, and development is funded bythe European Regional Development Fund,NWDA, and Halton borough council. Speculative/non-speculative: Keytenants secured.Intended commercial use: This is amajor leisure attraction featuring an icerink, cinema, restaurants and retail.Scheduled date for completion: Noannouncement yet.

Likely or confirmed tenants: Confirmedtenants include Planet Ice (ice-rink),Tenpin Ltd (24-lane bowling alley), ReelCinemas (five screen cinema) and Frankie& Benny’s with other restaurants andassociated retail expected to confirmimminently.Spin-offs: 2,700 new jobs and newwealth and vitality in the region.Likely to be affected by the currentfinancial crisis? No, as this project isfunded by regional and European capitalas a major regeneration scheme with along-term plan, we expect to see thisscheme continue as expected. Latest news at time of print: A majorannouncement is anticipated beforeChristmas this year on the schemesprogress.

The Hive

Post Panamax River Container Terminal

Liverpool FC Stadium

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MOVE COMMERCIAL36

Location: New Brighton waterfrontDeveloper: Neptune DevelopmentsCosts: £60million schemeHow is it being financed: This hasbeen financed by Merseysidewaterfront regeneration Partners,ERDF and Wirral CouncilSpeculative/non-speculative:This is a massive regenerationproject for the waterfront. Intended commercial use: This willcomprise a hotel, marine lake,outdoor spa, Morrisonssupermarket (64,000 sq ft), a six-screen cinema, budget hotel, floral

pavilion and theatre.Scheduled date for completion:The New Year will see workcommence on phase two.Likely or confirmed tenants:Apartments at Rococo Square,adjacent to the theatre complex, arealready being marketed. Spin-offs: A major boost to NewBrighton’s economy with jobs andattractions for visitors.Likely to be affected by thecurrent financial crisis? Publicfunding has been secured andshould see this project through.

White Star Line

Location: 150 acre site on Liverpoolwaterfront from Princes Dock toBramley Moore DockDeveloper: PeelCosts: £5.5billionHow is it being financed: PeelSpeculative/non-speculative: Thisis in outline form at this stageIntended commercial use: This is amixed-use development includingplans for a monorail, with aconnection to JLA, restoration of JessHartley clock tower at Salisbury Dock,self-sufficient buildings, 4 hotels,23,000 new homes, a new marina, acruise liner terminal and new publicspaces.Scheduled date for completion:Planning not yet submitted for thisscheme.On site/expected on site: Planningto be submitted later in 2009.Likely or confirmed tenants:None as yet.Spin-offs: This is a massive schemeto regenerate the waterfront and,with Wirral waters, creating 17,000permanent new jobs andopportunities for the local economy. Likely to be affected by thecurrent financial crisis? Let’s hopethis ambitious scheme meetsapproval to support the rest of thecity’s renaissance. Peel’s excellenttrack record and long-termcommitment to the city and itssurrounds ought to earn support fromthe surrounding councils.

Location: Great Homer Street,LiverpoolDeveloper: St Modwen propertiesplc.Costs: £150mHow is it being financed: Privatelyfunded project delivered by StModwen in conjunction withLiverpool City Council.Speculative/ non speculative:Non speculativeIntended commercial use: Largestsuperstore in Merseyside, 80,000sq ft of additional retail units,20,000 sq ft leisure unit, 70,000 sqft of business accommodation, newmarket hall and 300 outdoormarket stalls.On site/ expected on site:Early 2010Delivered on target: Delayed dueto potential anchor tenant, Tesco,failing to sign after years ofdiscussions. Now in advanceddiscussions with new tenant butdelays expected due to compulsorypurchase order process.Likely or confirmed tenants: StModwen is in advancednegotiations with a leadingsupermarket chain to becomeanchor tenant for the project.Tenants for the additional retailunits still to be confirmed. Spin-offs: St Modwen has boughtfour industrial estates inMerseyside, to support the GreatHomer Street scheme. The fourindustrial estates, which totalalmost 220,000 sq ft are Larch Leain Anfield, Brasenose Road inBootle, Clegg Street in Everton andGillmoss on the East Lancs Road.The acquisition of these properties,which include 100,000 sq ft ofvacant space, will give St Modwenoptions to relocate industrialoccupiers that are likely to beaffected by its ambitious plans for anew district centre at Great HomerStreet. 740 new jobs set to becreated by shopping and businessfacilities, 160 of which are to becreated by the new food superstore.Likely to be affected by thecurrent financial crisis? Securing amajor supermarket chain as anchortenant will give the project a muchneeded boost and help to attractfurther retailers to take up space.The project has been planned toensure it is based on more thanjust a food store, however, there isno getting away from the fact thatthe anchor tenant is the primaryfinancial driver.

Location: Mann Island, near PierHeadDeveloper: Neptune andCountryside PropertiesCosts: £112millionHow is it being financed: Privatesector investmentSpeculative/non-speculative: Intended commercial use: 100,000sq ft of commercial office space,covered and open public realm areastotaling 15,000 sq ft and residentialaccommodation with car parking.

Scheduled date for completion:2009On site/expected on site: Workbegan in autumn 2007 and is nowwell advanced. Likely or confirmed tenants:Dylan Harvey purchased 376residential apartments for a sumabove £70million, and rumours ofsignificant foreign investment in theoffice premises are soon to beconfirmed. Spin-offs: This redevelopment of

Liverpool Waters

Mann Island

New Brighton Floral PavilionTheatre and Town Square

Project JenniferCGI of proposed scheme

p21-39:p03-12 20/11/08 08:14

MOVE COMMERCIAL 37

Economic Climate Update Focus

Location: Kirkby, LiverpoolDeveloper: Tesco, working inconjunction with Knowsley BoroughCouncil and Everton Football Club.Costs: £400 millionHow is it being financed: This is ajoint venture between Tesco andEverton Football Club and financingremains confidential.Speculative/ non speculative:Non speculativeIntended commercial use: 50,000seater stadium, a Tesco Extrasuperstore, 50 other high street retailshops and the opportunity for aleisure development.On site/ expected on site: Therehas been a significant delay to theproject due to it being called in by thesecretary of state. The public inquiryinvestigating the proposal and how itwill impact on the local communityand economy begins on November 18and is expected to last for six weeks.The decision is to be announced inSpring 2009.Delivered on target: Likely to gothe final whistle, however the call-inhas delayed the project by at leastone season. Likely or confirmed tenants:Tesco. Further retailers still to beconfirmed.Spin-offs: Over 2,000 new jobs willbe created as a direct result of theproposed improvements, and inconjunction with Kirkby College,training and skills for locals will bedeveloped. The development of avibrant town centre is expected toattract further businesses to investin the area and boost the localeconomy.Likely to be affected by thecurrent financial crisis? The futureof the project undoubtedly rests onthe outcome of the public inquiry.Delays will inevitably lead toincreased costs but Tesco, Everton FCand Knowsley Borough Council are allcommitted to the project. The projectignites strong views both for andagainst, as the issue regarding thebenefits of the scheme for Kirkby is acomplex one.

the waterfront has taken a long timeto secure approval; this project couldbe the key component in drawingtogether the waterfront’sreinvention. Likely to be affected by thecurrent financial crisis? Withseveral key players involved invarious aspects, and Neptune’s trackrecord in ambitious regenerationschemes in the north-west, thisproject looks set to be a realsuccess.

Location: St Helens Developer: Langtree Group plcCosts: £100million retail andleisure scheme and 18,000capacity stadium, and 100,000sq ftTesco.How is it being financed: A jointproject between the Saints,Langtree, £4.9million grant inNWDA funding, Tesco and StHelens Council.Speculative/non-speculative:A long-awaited project for

rugby fans.Intended commercial use:Retail and leisure.Scheduled date for completion:2011On site/expected on site: Siteclearance to begin in 2009Likely or confirmed tenants:Tesco confirmed and a deal isexpected with Taylor Woodrow fora new housing scheme.Spin-offs: A public plaza, 190homes on a new development.

Likely to be affected by thecurrent financial crisis? The funding for the stadium wasdependent upon the sale of the oldclub’s land to Taylor Woodrow for£14million. After the recentmerger of Taylor Woodrow withGeorge Wimpey in the currenteconomic climate, speculation runsas to whether the deal will be madeand a decision is expected to beannounced, but there has been noindication of any change in plans.

Location: Southport waterfrontDeveloper: NeptuneDevelopmentsCosts: £30million scheme forNeptune’s hotel and casino and£6.5million for Theatre andConference Centre. The scheme isover 174,000 sq ft and willproduce around 500 new jobs. How is it being financed: This isa mixed-use scheme delivered byNeptune Developments, theFloral Hall by Sefton Council. Speculative/non-speculative:The scheme has Ramada Plaza astenant for its133 bedroom hotel,Stanley ‘Circus’ Casino has signedfor 16,000 sq ft, and other leisuretenants are expected.

Intended commercial use:Mixed-use leisure schemeincluding Scheduled date for completion:Hotel is due to open on 1November, the casino is at thefitting-out stage.On site/expected on site: Carpark for the conference centre isbeing remodeled and due forcompletion by Christmas. Delivered on target? The shelldevelopment was scheduled forearly 2008 with fit-outscompleted during the year. It issoon to open and Likely or confirmed tenants:Ramada Plaza Hotel and StanleyCasino confirmed.

Spin-offs: New restaurant and bartenants for the 15,000 sq ft ofleisure space available at thescheme, drawing in futureinvestment and visitors to thearea. Likely to be affected by thecurrent financial crisis? No, it’swell advanced. The Ramada Plazais due to open later this month,drawing in more investment andfurther fanning the flames of thewaterfront’s regeneration.Bookings for conferences haveincreased at double the rate oflast year for the redevelopedconference centre and theatre.The leisure spaces are built andready to let.

St Helens Rugby League Club

Southport Floral HallSouthport Theatre and Conference Centre at £6.5million, and Ramada Plaza Hotel and Stanley Casino

Everton FC Stadium

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The new bridge will cost £390million; how can you justify thatspending of public money in thecurrent economic climate?DP: I think that the bridge isabsolutely critical at this point forregeneration of the Liverpool CityRegion. We would have to spendprobably 20 to 30 million pounds to improve and maintain the SilverJubilee over next few year. If that isclosed, the cost to the economy isin terms of freight and people’slives; not being able to movearound and enjoy their leisure time.

You can’t measure this bridge inpound notes; you have to measurethe social and economicregeneration. It’s certainly morethan just a bridge.SOC: I got involved in the plansabout five or six years ago. At thetime there were about a thousandcrossings a day with people comingto and from work, and with thefreight vehicles. That number ofcrossings has increased over theyears and, when we becameinvolved with Stobart fifteen orsixteen months ago, our fleet

increased and there is now doublethe amount of vehicles. DP: It amounts to 30 million vehicles movement across the Silver Jubilee each year when youadd in freight movements andpeople moving around for work,school, and leisure, so the bridge isadding to the delay in people’slives. What we’ll be doing iscreating consistency of journeytimes, which is critical. SOC: There’s a lot of freight in thenorth-west that’s hazardous,coming from the refineries and

From Gridlockto Gateway

The Mersey Gateway is a new bridge proposed to link Halton and southMerseyside with Warrington and Manchester, scheduled for completion in2014 if it meets support during the ongoing public inquiry. Essentialmaintenance work will then commence on the Silver Jubilee Bridge inRuncorn and, to meet the costs of the scheme, both bridges will be tolled;sparking debate among road users and businesses in the north-west. Wemet Steve O’Connor, who heads up the O’Connor Group, which recentlytook responsibility for the Stobart division in Widnes, and David Parr,chief executive of Halton Council over breakfast in the Daresbury ParkHotel in Halton to discuss the plans, and the toll.

Steve O’Connor,O’Connor Group

David Parr,chief executive of Halton Council

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Critical paths Talking Point

chemical plants. The chemicals fromWirral can’t go through the Tunnel,so when that starts moving around the Liverpool City Region over the bridge there’s a lot of traffic. The most difficult part is when youreach Thelwall, as any problemsthere make things worse forRuncorn. At the moment, it’s aninhibitor to business in theborough.DP: If we were in London having this conversation, then in the samedistance between Liverpool andWarrington we’d have in excess oftwenty bridges or crossings. Herethere are two; the tunnels and theSilver Jubilee. So when you look atthe number of people that aremoving across the river, we arevery short of capacity and the onething we’re anxious about is theability of the road network to dealwith current and future trafficnumbers. When the Silver Jubilee isclosed due to an accident, thewhole of the north-west actuallycloses; vehicles can’t move. Beingable to cross the Mersey is crucialto people’s lives.Where’s the funding coming from?SOC: There’s a government grantfrom the regional funding allocationfor £86 million which willeffectively meet the cost ofacquiring the land and taking theplans to public inquiry. There’s aprivate finance initiative credit of£123 million and the rest is fundedby toll revenue – that’s 77% of thetotal outlay. We have to do a valuefor money exercise, a cost benefitratio, and it’s in excess of 1:4. Thatmeans for every £1 spent we get£4 back in terms of social andeconomic regeneration; that’s oneof the highest ratios you’re likely tosee for a transport scheme. It’llbring thousands of jobs inconstruction and post constructionand opportunities for new sites to be developed, new business tolocate here, others to develop and thrive and it will ensure that the businesses we have are good quality jobs. But the toll is surely going to beunpopular. We pay taxes; whyshould we pay a toll?DP: We asked the government for afree-to-use bridge, and we weretold it has to be tolled. The choiceis a tolled bridge, or no new bridge.The consequences of no newbridge are not worth contemplatingfor Halton or the LCR. That’s therealism we have to face. In France

and Germany it’s the norm to havea tolled bridge so we wouldn’t behaving this discussion; it’s just thathistorically in this country roadshave been free to use here.SOC: We talk about a work-lifebalance and whether we want tosit for hours on the road, and this isvalue for money. It’s worth pointingout that I may not be absolutely prothe toll but I’m realistic enough toknow that the most improved roadinfrastructure in the UK is all tolled,such as the M6 toll road. It’s theonly reliable piece of infrastructurein the country. By 2012, 2013, allroads around cities will be tolledand we’ll see this happen evensooner in major cities. We’ll bepaying a user charge as a freightindustry, and possibly asconventional road users inManchester and in Bristol, in thenext few years. DP: The difficulty is getting acrossto people that when you fill a carwith petrol or diesel you’re notcalculating how much you havewasted in a traffic jam. When yougo over a toll it’s easier to calculatethe payment thrown into a bucket;people underestimate the moneythey waste queueing to cross theSilver Jubilee, and what we need to do is explain the consequences of wasting time. For Steve, everyminute his lorries aren’t moving on the road is a waste of money. How will the new bridge impact on the environment?DP: Most people would say a newroad brings more carbon emissions.The calculations we’ve done showthat carbon emissions actuallyreduce. Nobody believes me when I say this. But vehicles which movefreely omit lower amounts ofcarbon emissions than standingvehicles. That will enable us tomanage the traffic movement toimprove the environment.SOC: The air quality on either side of the bridge, with idling vehicles, isvery poor. There’s a generalassumption that trucks are dirtyand foul the environment, but somenew figures we’ve produced havefound that for every single Stobartvehicle that delivers into asupermarket, 250 cars take thatproduct home. When you put that inperspective, you see the challengewe face.Steve, why are you lendingsupport to the bridge, with thecosts involved?SOC: We operate a road rail

interchange in Widnes wherecurrently we move nearly a hundredthousand containers a year fromsouth ports into Halton by rail. Nowthose moves of freight by rail takearound 30 million miles off UKroads. If we get to Widnes and thenwe have an inability to do thedistribution in the last mile theneffectively the journey of thosevehicles becomes catastrophic. Inone breath we’re desperate to getimprovements for the bridge, andthen we give the impression thatit’s really not called for. It’s a bit likewith football; we tell everyonethere’s nothing wrong with thestadium although we’re desperateto get a new one. The question Iwant to ask is in terms of value,which is whether the borough oreven the greater region can affordnot to build the bridge. I thinkbusiness would stagnate and itwould be difficult to encourageinward investment, and we wouldmiss opportunities in the north-west. If the freight takes to roadbecause the customers aren’tsatisfied with the rail roadinterchange then that could be verydisappointing indeed. DP: The ‘do nothing option’ is notan option. It’s going to changepeople’s lives in terms of people’shealth and accessibility. We want tocreate opportunities for localpeople to gain employment. Thebridge will create opportunitiesinside the borough and access toemployment elsewhere; inKnowsley, Liverpool, Warringtonand Manchester. At the momentcongestion occurs from 7-9 am and4 -6 pm. It used to run 8-9 am, andso therefore it’s extending. If we donothing it will just grow until thereis no gap. The Mersey Gatewayprovides this extra capacity. SOC: There’s such nervousnesseverywhere at the moment aboutacting, due to the economic climate;it’s a fragile situation. Will the credit crunch impact onthe Mersey Gateway?DP: The funding’s secure. The £86million is there in the regionalfunding allocation. SOC: It’s at least of regional and ofnational importance in takingfreight off UK roads. Without thenew bridge, 30 million miles couldbe forced back onto roads because of the problems at the road-railinterchange. People might think it’s a local bridge and a local agendabut it’s not. >>

“It’ll bring thousands of jobs in constructionand post constructionand opportunities for new sites to bedeveloped, newbusiness to locatehere, others todevelop and thriveand it will ensure thatthe businesses wehave are good quality jobs.

”

MOVE COMMERCIAL 39

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DP: Our supporters include all thelocal authorities on Merseyside and,in business, Peel, Stobart, JLA, ABB;all major local players. They can’t allbe wrong. What will be the impact on theMersey Tunnels?DP: We have a very sophisticatedtraffic model, which tells us therewill be no impact whatsoever onthe tunnels, which will continue torun at the same level of movement.The toll will be of a similarmagnitude so there’s no financialincentive for anyone to move. Infact the tunnels may even benefitas we know that some peoplecurrently divert to use the SilverJubilee as it’s free. Our calculationsshow 20 per cent of vehicles aremovements within Halton, 20 percent have their origin or destinationin Halton and the rest, 60 per cent,are through vehicles which don’tstop in Halton. The Silver Jubileewas built and opened in 1961 for6,000 vehicles a day; it now takesbetween 60 and 90 thousand. Itwas built with single lanes; we nowhave two narrow lanes in eachdirection, and a very difficultwalkway on the outside, nocycleway and no bus priority. It will be changed back to a singlecarriageway with a cycle track andwalkway; it will become what itwas designed for; a local bridge tocarry local traffic. That will be forthe people of Halton to movearound in a much moreenvironmentally friendly, and lessintimidating manner. There arespectacular views from the bridgeand it would be nice for cyclists andwalkers to take advantage of those.The Mersey Gateway will act as anexpressway to move traffic throughthe borough for the benefit of theLiverpool City Region. The onething that’s very important for the

John Lennon Airport is theconsistency of journey time, whichtwo crossings will bring. If you aska driver what they want they’ll saythat this is the most importantfactor; it’s fundamental. That’s whyJLA has been a fabulous supporterof the Mersey Gateway. RobinTudor and Neil Pakey have beenvery eloquent on the subject. Thepublic inquiry will decide in Marchor April about the exact charge, butit will be not dissimilar to that ofthe tunnels. It’s about trafficmanagement, and regulation ofvehicles so they can all move.Is this the right location? Whatabout the Frodsham Marsh Line?DP: It’s the right location. Wereviewed five different routes andon all counts this came out top. Forhighway movement, environmentalconsequences, the impact on theMersey estuary, and in terms ofcost. We’ve done the studies; they’llbe tested at public inquiry, but thisroute delivers. In looking at theroute you can’t just take one factorinto account. The environment iscritical; there will be an impact butit can be more than adequatelymitigated. It’s at the heart of whatwe’re trying to do; a bridge toreduce carbon emissions. We’reputting a deck under the MerseyGateway to take light rail, for afuture proposal, and a walkway andcycle track, with bus priority on theSilver Jubilee. Elected membershave determined that publictransport will not pay a toll.Is it premature to link this bridgeto Liverpool’s projected success? SOC: Peel has announced a £50billion Ocean Gateway for thenorth-west. Put that in perspective with the cost of the bridge. Theregeneration of Liverpool is not just happening this year. DP: It’s just starting, and the

Mersey Gateway will act as acatalyst to continue thatrenaissance. With Capital of Culturepeople are working hard for alongstanding legacy. The MerseyGateway will give people theopportunities over the next fewyears to see continued aspirationand ambition within a region whichhas historically, and in recent years,not been able to do that. TheMersey Gateway will help us todevelop that. It’s part of the wholepicture, and that’s why the majorplayers are supporting it. What’s the biggest challengefacing this project now?DP:The biggest challenge is toconvince the public that the ‘donothing’ option is not an option. To do that in language and data that is understandable; that’s thechallenge for us. SOC: We need to concentrate on the bigger picture and take a longerview on it; and make it easier to getto the match at the weekends.

“The MerseyGateway will act as an expresswayto move trafficthrough theborough for thebenefit of theLiverpool CityRegion.

”

Critical paths Talking Point

THE MERSEY GATEWAYIf the project meets approvalfrom the public inquiry:

• The Mersey Gateway will becompleted by 2014

• The Silver Jubilee and theMersey Gateway will be tolledat a level not dissimilar to theMersey Tunnels

• Frequent users will receive a discount for both bridges

• The Silver Jubilee will become alocal users’ bridge with accessfor pedestrians and cyclists

• There will be no toll for publictransport providers

MOVE COMMERCIAL 41

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Foresight intoproperty’s future

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

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

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

Sponsored by

MOVE COMMERCIAL42

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ChairLiam Fogarty

Journalist & broadcaster

George Downing

Chairman,

Downing Developments

Peter Stoney

Hon Senior Fellow,

Liverpool University

Management School

Paul Taylor

Senior Relationship Director,

Barclays Northern Property Team

The Panel

What is the current state of thecommercial propertymarketplace?To open the discussion, Liam beganby pointing out how Keppie Massietopped the league table forcommercial deals made in the lastfinancial year. Stuart Keppiecommented that figures for this yearare yet to be released, but that theregion seemed to be performingbetter than the national average. The question was then raised ofLiverpool’s ability to enduredifficulties in the property sectorbetter than other areas. Peter Stoneyreported that his research group hadfound that the two largest macro-economic problems are that interestrates remain too high, and that bankshave been reigned in from lending toone another. David Morgan, fromHalliwells, commented that Liverpoolis not feeling the effects more thanthe national average: “We’ve been inLiverpool for three years, and it’sbeen the best decision the firmmade. Our work is continuing to growand buck the common trend; we justneed confidence and stability in themarketplace.”George Downing pointed out that thesuccessful lettings at the Port ofLiverpool building and The Capitalshow a good investment will notsuffer: “Quality speaks for itself.Don’t try to do too much at once. It’snow just liquidity that’s the problem.We’re in a stronger position as wehaven’t tried to grow as rapidly assome other developers.” Paul Tayloradded that the city is tightening thepurse strings: “We’ve had enquiriesfrom developers when other bankshave pulled out of loans and deals.We’re seeing if we can take themforward.”

Will Liverpool’s futureresurgence be affected?With the current market holding upthus far, Liam remarked thatLiverpool has seen a scale ofdevelopment to rival any capital city.The recent completion of LiverpoolOne with, at the time of the debate,the final opening to follow, and Peel’splans to redevelop the waterfront

certainly stand out. However, dothese developments show thatLiverpool is continually on the up?Peter replied: “Absolutely. We’veshown we have the infrastructure tohelp profitability in the privatesector.” On the topic of Liverpool’splans to attract future investment,Stuart commented: “Liverpool One ismore of a tourist destination than werealise, as well as a retail scheme. Itdifferentiates us from Manchester,and the reflected glory boosts thebusiness community. Grosvenordeserves huge credit as a massiveamount of planning has taken placeto integrate their proposals. A tramsystem would have helped, althoughthat’s not on the agenda now.” Liam then asked George whether hewould be cutting back on staff or ondevelopments. George responded:“We’re not in danger as we haveproduced good quality developmentsand not overstretched ourselves. Noone could have foreseen how theshutters came down so quickly, andthat’s been the case for somedevelopers. It’s no particularbusiness’s weakness necessarily, orLiverpool’s fault. We finished aregeneration development in 2008and the price was right so that, overa decade, the investment will bemade good. Perhaps though, acrossthe city, there is too much spacethat’s unoccupied?” Liam picked up on this to ask: “Are you worried that there are moreunfinished residential and commercialschemes?” and David replied: “Theproblem at the moment is that thenew developments are so similar toone another, and the older onesaren’t hugely exciting. We shouldalways be asking ourselves, ‘Is this an exciting offer?’ A biggerapartment, rather than one or twobedrooms, would bring families in tothe city centre; we should be re-focusing to see what should beprovided.” Paul agreed that much ofthe residential development in thecity centre had been investor-led:“The only available option now is to let these apartments, which is a viable solution, and take-up hasbeen good.”

What are our obstacles, andwhat are the options?Kevin Lee, partner at Halliwells,interjected: “What will replace theresidential element in mixed-useschemes, now that the housingmarket dictates that furtherresidential development is a non-starter?” George held strong opinions on thistopic: “In Europe, families livetogether in apartments, and can getmortgages on their homes whilethey’re being developed. We’ve gotthe problem here now that bankswon’t lend to developers unless theycan guarantee pre-sales; no one hasthe finance. Occupiers should begetting the mortgages and drivingthe schemes, as in any European city,but the lending restrictions arestumping new developments. Havingsaid that, tourism in Liverpool is anew phenomenon and can raise ourprofile. Investment will come inthrough tourism and conferences,and transport links will become veryimportant as business tourismincreases.”

How is legislation affecting themarket?Liam raised a separate issue, asking ifempty rates tax is proving to be anew obstacle to development. Hewas supported by Stuart who said:“What can the ending of the reliefachieve? It discourages speculativebuilding and, in some cases,encourages demolition. By reducingstock, we’re not achieving increasedrevenue, and the government needsto do a U-turn on this.” Liam quippedthat if people began to take off theroofs from buildings, as has beendone in the past, we may seeincreased investment in tarpaulin.David commented: “The impact fordevelopers with unoccupied spacecannot be underestimated. This hasjust been an easy way for thegovernment to increase revenue.”Peter commented: “Labour hascompletely misunderstood themarket, and made a serious error.”The feeling in the room seemed verymuch in agreement that empty ratestax was not a welcome development

The debate

Exchanging Views Breakfast Debate

David Morgan

Partner, Halliwells

MOVE COMMERCIAL 43

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1. Alex McCann, Halliwells

2. Who’s feeling optimistic about the future? 3. Peter Stoney makes his point

3

4. George Downing and Peter Stoney 5. Paul Taylor, Barclays, holds his audience

5

for the property industry. Georgecommented that it would be betterto cost the general taxpayer than tocause unemployment, especiallyamong the larger employers. Hewelcomed cutting red tape onplanning permission and Stuartseconded this as positive legislation,before commenting again on emptyrates tax: “For the government, this isjust another tax, but they need toorchestrate and regulatedevelopment. Liverpool is evolving,but we need structure on theinfrastructure and transportsystems.”

What are the opportunities inthe current marketplace?David stated his belief in the legacyof Capital of Culture: “Liverpool isplaying ‘catch up’ to an extent. Thetest of this year is not in the culturalevents but in the impact later on;when people are choosing to liveand work here. We have enoughexpertise and entrepreneurship here,and it’s so different to how it was10 years ago.”Liam asked the panel and theaudience to raise their hands if theyfelt optimistic about the future; andthe mood seemed not as dismal asmany may have feared. Stuartreinforced the opportunity to attractinward investment. Liam asked Peter,of whom he jokingly remarked‘optimism is not your strong point’,how he saw the city’s prospects inthe long term. Peter replied bystressing the need for a bettereducation of the city’s young people,and George commented that to keepthe city moving needs a goodworkforce, and a strong transportsystem; a point upon which all of thepanel members seemed inagreement. Peter continued: “Weneed to nurture private sectordevelopers. Peel should be activelyencouraged by the city council, notdiscouraged, and we hope thatattitude will change. Liam thenasked: ‘Is Liverpool businessfriendly?’ to which David remarkedthat the city tends to talk down itsprospects and opportunities. Paulinterjected: “It’s going to beinteresting over the next 18months.” George commented: “Thereare lots of opportunities to developin the marketplace with good qualitybuildings and cheaper sites. The jobsand momentum at Liverpool One willkeep us going and there will be moreand more opportunities.

Questions from the floor asked forPeter to comment on what he seeshappening to inflation. Peter replied:“We’re feeling the effects ofinflation globally. China and Indiahave taken steps to reduce this. Oilprices should come down. It’s allabout timing, but the problem ofchanging inflation targets is people’sexpectations. We need to treat the issue moresensibly, and should see a trendtowards more regulations.” As themeeting drew to a close, it was feltthat some issues would be best leftto another debate, as weresuggestions from Jeff Porter fromMove Publishing, on how to ‘oil theengine of the economy’. Indeed,that’s all fodder for a future MoveCommercial business breakfast.

4

1

2

MOVE COMMERCIAL44

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Exchanging Views Breakfast Debate

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

David Morgan, Halliwells

9. Stuart Keppie, Keppie Massie 10. Kevin Lee, partner at Halliwells, poses a question for the panel

8

9

Sponsored by

6. David Morgan, Halliwells 7. Liam Fogarty chairs the debate 8. The panel members share a joke

7

10

6

MOVE COMMERCIAL 45

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INSPIRED BY a bishop anddelivered by a saint, some wouldsay plans for Great Homer Street’sregeneration were as safe ashouses, but 'Project Jennifer' hasnot been without its problems.After Tesco failed to sign up asanchor tenant, following years ofnegotiations, there wasspeculation the £150m schemewas in jeopardy, but regenerationspecialists, St. Modwen, quicklyrefuted these claims byannouncing they were in advancednegotiations with another leadingsupermarket chain.

In February 2004 St. ModwenProperties was selected aspreferred developer to work inpartnership with Liverpool CityCouncil to 'bring forwardtransformational change' to theonce thriving area of NorthLiverpool; an ambition of FatherTom Williams (now bishop) backin 2000.

The regeneration specialists haveambitious plans to help the localcommunity 'achieve its social andeconomic potential and put theheart back into the area.'

Great Homer Street's knight inshining armour is Paul Batho,senior development manager at St.Modwen and the man tasked withresuscitating the district centre inEverton. Batho, 39, cemented hisworth after negotiating the lettingof the UK headquarters for Adidasat Trafford Park. In terms ofcommercial success, the deal was acoup for Batho but it is the humanelement to his current undertakingthat stirs him: “It brings in allelements of regeneration, it's notjust a commercial deal, there's acommunity involved. And whatI've found in Liverpool is that thecommunity really want toparticipate. In other parts of thecountry people can be a bit morepassive but Liverpudlians seem tobe very well organised and have areal desire for their voice to beheard. To have that inside track isinvaluable and fortunately for usit's there, in abundance.”

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

The greatresurrection

Taking over the reins of a mammothwork in progress is both a dauntingand exciting challenge. Approachingit in a newly appointed seniormanagement role must onlyintensify the experience. An eternaloptimist, St. Modwen’s Paul Bathois just the man to carry out the jobof regenerating Great Homer Street.

For further information please contact Chris on

0151 282 [email protected]

JST Lawyers, Colonial Chambers, Temple Street, L2 5RH

ADVERTISEMENT

JST

CHRIS HARMER

Chris Harmer specialises inadvising commercial landlords

and tenants in relation toproperty and contract disputes

Failure to PayDuring these difficult and challenging economic times the prospectof a tenant failing to pay rent to the landlord is a commercialreality; failure to pay can, of course, impact greatly on the landlord’sown finances and cash flow. Landlords therefore becomeimmediately concerned when a tenant fails to pay rent on the duedate. However, there are a number of options available forlandlords to pursue rent arrears, and legal advice should be taken inrespect of the most appropriate strategy to adopt.

One of the most frequent methods used is that of the landlord’sright of destraint. This is the ability to seize goods to the value ofthe rent arrears, and through this approach the landlord can eithersell the goods seized, or the tenant can buy them back by payingthe arrears of rent. However, under new legislation which has beenenacted, but not yet brought into force, the right of the landlord todestrain will be abolished. The procedure to recover rent arrears byseizing goods has been formalised under the Commercial RentArrears Recovery (“CRAR”) under the Tribunal and CourtEnforcement Act 2007. Under this new regime, the landlord can nolonger simply attend the premises and seize goods to the value ofthe debt of the rent arrears. Under the CRAR system, the landlordwill have to serve a notice prior to any seizure of goods. Thelandlord will have to serve an appropriate notice on the tenant(albeit that at this moment in time the full details of theinformation to be contained in this notice have not yet beenfinalised). The rent which can be recoverable under this system doesnot include Council Tax, rates, service charges, repairs, maintenance,insurance or other ancillary matters whether or not described as rentin the lease.

New procedures under CRARWhilst the landlord can take control of goods to the value of therent arrears, the landlord must first serve a notice to inform thetenant of the impending action. The notice must expire beforecontrol of any goods is taken. There will be a net minimum amountof rent which will have to be outstanding before the notice can beserved and goods seized (in accordance with regulations which haveyet to be drafted). This would be the principal rent only and willexclude interest, VAT and other deductions which will be containedin the regulations.

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

Therefore with this amendment the landlord will lose the elementof surprise over the tenant when exercising the right to take controlof goods to the value of the outstanding rent arrears. Whilst thenew regulations have yet beenfinalised it is difficult to give afull indication of the likelyimpact and changes, howeverthese new procedures willimpact on both landlords andtenants.

MOVE COMMERCIAL46

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MOVE COMMERCIAL 47

September 11 back in 2001. Originally from Sheffield, it was

marriage that brought Batho to thenorth-west, more specificallyStockport, where he is now settledwith his wife and two youngchildren.

The uncertainty of the currentmarket is familiar territory toBatho, who graduated with adegree in Estate Managementfrom Northumbria University intoa fairly poor market in the middleof the nineties. However, it is hisnatural positivity which helpsBatho see such an environment asa test rather than an obstruction:“I'm by nature an optimist, whichalways helps in these types ofprojects as they go through anumber of challenges. At the timesome of them can seeminsurmountable but as long as youhave a robust masterplan, able todeliver the needs of thecommunity, and you know thescheme is financially viable, youwill overcome them.”

It was St. Modwen's lateralvision that helped the developerwin the competition to regenerateGreat Homer Street as Bathoexplains: “Michelle Taylor, one ofour regional directors, visited thesite and very quickly realised thatjust knocking up a food store wasnot going to do any good andwasn't going to act as the catalystthat was needed. So our proposalwent way beyond that. I believe bythe time this project is complete, itwill be a great case study of howthe public and private sectors cancome together through thick andthin and make a scheme happen.And by not taking quick fixes andeasy routes out at crunch times, itwill be a great example for otherschemes to be based on.”

He adds: “The scheme has beenvery carefully designed so it's notjust about the food store, becausethere'll be around 100,000 sq ft ofother retailers. But in turn it's notjust about shopping, there'll bebars and restaurants, 500 newhomes, a new Primary Care Trustcentre, a relocation of the existinglibrary and massive improvementsto the public realm.

However, Batho acknowledgesthe importance of the anchortenant in a regeneration schemeon this level: “It is absolutelyfundamental to the scheme andthe reason for that is financially,they're a big driver. Tesco failingto sign was a big disappointmentfor us. But we're now happily veryclose to signing with an alternative

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

“These schemes need to havefinancial drivers and clearly a verylarge food retailer will be a hugedraw. It'll be the biggest inLiverpool, situated on one of themain arterial routes, ScotlandRoad, so this thing is going totrade its socks off.”

But footfall is not the onlyconsideration affecting the successof this venture. With theestablished and treasured ‘Paddy’smarket’ acting as the regular pulseto the community, St. Modwen’sspecialism in town centreregeneration will provideinvaluable experience when itcomes to managing the needs ofthe community.

Batho is far from naïve about theresponsibilities taken on by hiscompany when they embarked onthis ambitious scheme: “People,

including myself, are alwayssuspicious and nervous of changebecause it’s human nature. Butwhat we’re doing here is going tobe a massive improvement on theexisting situation. And that’s abasic rule with developments likethis; if you’re going to interferewith someone’s business, orlivelihood, quite simply you’ve gotto put them in a better positionthan they were before youstarted.”

With compulsory purchaseorders the next step for GreatHomer Street after the anchortenant is secured, Batho’s rulebecomes particularly relevant. Yethe is confident St. Modwen havetaken sufficient steps to ensure no-one is left disappointed by thescheme: “We’ve spent around £8million last year acquiring fourindustrial estates in Merseyside,aimed at initially supporting thisscheme and giving us theopportunity to relocate industrial

occupiers who are likely to beaffected.”

Due to the initial problemsfacing St. Modwen in securing ananchor tenant, construction atGreat Homer Street has inevitablybeen delayed and the intendedstart date on site has now been putback to 2010, but Batho remainsoptimistic: “Liverpool is gettingsome great feathers in its cap atthe moment and this will beanother one. Liverpool CityCouncil has been working veryclosely with us to ensure nobody isleft disappointed by the scheme.We find that we tend to work verywell with local authorities becausewe listen and we don’t try toimpose our agenda upon them.

“There’s already been some greatwork on site and new homes havebeen provided already, so ourwork will take that and carry itforward to set this entire area upfor what I hope will be a greatrenaissance of north Liverpool.”

Paul Batho Rising Stars

p40-56:p03-12 20/11/08 08:20

MOVE COMMERCIAL48

Key events Edward Symmons 25th celebrations

First Tenants atLandmark SiteEDWARD SYMMONS celebrated 25 years inLiverpool with its move into St Paul’s Square,becoming one of the first tenants in the newdevelopment. Drinks flowed and staff andguests enjoyed canapés in the grade A officespace, where they will occupy 2,500 sq ft onthe ground floor on a 10 year lease.

2. Richard Corby, Edward Symmons, and Richard Stanton, UK Car Group 3. Stephen Tyrer and Mark Giardelli, McGoff and Vickers and Alan Cooper, Edward Symmons

4. Lesley Martin-Wright, JST Lawyers, with Norman Jones, Mace & Jones, Charles Hurst, Coulter Hurst, and Colin Jennings, Edward Symmons

1. Vicky Swanick and Jonathan Robinson, Edward Symmons

2 3 4

5. Karen Neald, Weightmans, Michael Griffiths, Edward Symmons, and Angela Penn, Weightmans 6. Jenny Porter and Jane Gunnion, Rees-Roberts Solicitors

7. Ian Wilby, Barclays, Clive Plummer, Mitchell Charlesworth, with Alex McCann and Tony McDonnall, Halliwells 8. Alastair Johnson and Abby Dry, Hill Dickinson

5 6 7 8

9 10 11 12

9. Louisa Brown, Brett Henshaw and Alex Napper, Edward Symmons 10. Paul Williams, Williams Independent, Gary Gardner, GB Finance, and Robert Diggle,

Edward Symmons 11. Elwyn Edwards, Hill Dickinson and Janice Weatherly, Mace and Jones 12. Paul Proctor, Edward Symmons, and Andrew Davies, Hill Dickinson


1

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Changing hands Deals

Property: Chester Gates IndustrialEstateLeased by: Kenmore (CBRE, Legat Owen)To whom: CPM WolverinePurpose: LettingSpace: 50,000 sq ftFor how long: 15 yearsFor how much: £3.75 per sq ft

Property: 22 Caddick Road,KnowsleySold by: Hills Plc (Mason Owen)Bought by: Paul BlennerhassettPurpose: DisposalSpace: 3,182 sq ftFor how much: £250,000

Property: Former Sports Worldunit, Paradise Street, LiverpoolLeased by: Sports WorldTo whom: Deichmann ShoesPurpose: LettingSpace: 10,290 sq ftFor how long: 15 yearsFor how much: £203,000 perannum

Property: Units 8 and 9, GeminiPark, Europa Boulevard, WarringtonLeased by: Downham PropertiesLtd (King Sturge)To whom: Signature Doors(unrepresented)Purpose: LettingSpace: 10,375 sq ftFor how long: 5 yearsFor how much: £6.25 per sq ft

Property: 20 Matchworks Phase II,GarstonLeased by: Urban Splash WorkLimited (Mason Owen)To whom: Five Children FamiliesTrustPurpose: LettingSpace: 3,513 sq ftFor how long: 6 yearsFor how much: £22,767 perannum

Property: Hattersley House,Burscough Road, OrmskirkLeased by: Bracken Developments(King Sturge)To whom: New Image TV(unrepresented)Purpose: LettingSpace: 1,070 sq ftFor how long: 2 yearsFor how much: £12.75 per sq ft

What’s the deal? Downing has let a suite in Federation House on Hope Street to the Royal LiverpoolPhilharmonic. What’s the purpose?The building will accommodate some of the Phil’s management and administrationteams.What’s the background?Federation House has undergone a recent refurbishment as part of a £40 millioninvestment programme, which Downing is progressing across its 1 million sq ftportfolio.Who’s behind the deal?The Royal Liverpool Philharmonic’s home is in Liverpool Philharmonic Hall, adjacentto Federation House, and opened in 1849. Sue Harrison, the Phil’s interim chiefexecutive, said: “We are pleased to have found a solution to our space requirementsso close to Philharmonic Hall, which provides our staff with good quality officeaccommodation, and minimum disruption to the delivery of our extensiveprogramme of concerts and events, and learning and engagements activities.” Who secured the deal? Downing is Liverpool’s largest private commercial landlord and owns some of thecity’s most iconic buildings including the Grade II listed Port of Liverpool Buildingand The Capital. Peter Keppie, commercial surveyor at Downing, said: “We’re proudto welcome one of Liverpool’s premier cultural organisations to the Downingportfolio. Our commercial properties have performed excellently over 2008 and the fact that Federation House is fully let is further proof of the power of highquality refurbishments to attract prestigious tenants.”

What’s the deal? Korova Corporation have let 7,332 sq ft on The Terrace at the Liverpool Onecomplex in Liverpool City Centre.What’s the purpose?The group will be opening a new American-themed diner, adding to its portfolio of leisure venues dotted around the city.What’s the background?The award-winning leisure company is behind some of the most exclusive and stylishrestaurants and bars in the north-west such as Geisha, Circo and Babycream.Who’s behind the deal?The bars and restaurants he has frequented on his travels usually influenceventures undertaken by Rob Gutmann, CEO of Korova Corporation. Rob said: "I'mdelighted to be involving Korova Group in Liverpool One. People have come torespect that we don't settle for the ordinary in the bars and restaurants weproduce, and we feel that Liverpool One is no mainstream shopping development.Who secured the deal?Tushingham Moore represented Grosvenor for the deal. Dan Davies, partner atTushingham Moore, said: “We are delighted to have secured Rob Gutmann's latestconcept into Liverpool One, and are confident that he will bring something new and totally unique to The Terrace."

Big dealsLatest deals

W

W

“We’re proud towelcome one ofLiverpool’s premiercultural organisationsto the Downingportfolio.”

Peter Keppie Downing

“We are delighted tohave secured RobGutmann's latestconcept into LiverpoolOne, and are confidentthat he will bringsomething new and totally unique to The Terrace."Dan Davies Tushingham Moore

MOVE COMMERCIAL 49

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MOVE COMMERCIAL50

pioneerbusiness park

North Road, Ellesmere Port,Junction 7, M53

New serviced offices availableMonthly licences from

£60 per work station,per week, fully inclusive.

For traditional office accommodation contact the agents:

Will [email protected]

Jon [email protected]

Jon [email protected]

For serviced officeaccommodation contact:

0808 202 4300

TO LETHigh quality office, warehouse andlight industrial accommodation onLiverpool’s famous waterfront

250 to 4,750 sq ft

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Office enquiries: [email protected] enquiries: [email protected]

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• Excellent on site car parking and servicing for all units• On site building manager• CCTV and overnight security• The Meeting Place Café• Managed environment and ongoing programme of

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Traditional office accommodation availablefrom 1,900 sq ft

Design and build opportunities also available

• On site parking• Reception services• Excellent security

Longer term contracts also available

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• 1,200 sq ft (111.5 sq m)

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• Character building with exposed beams and brickwork

• Short term and all inclusive terms available

OFFICE TO LET36 HENRY STREET, ROPE WALKS, LIVERPOOL 1

CONTACTTony Reed or Andrew ByrneKeppie Massie on 0151 255 0755

Appointments

Karl Kiernan David Currie & Co

David Currie & Co propertyconsultants have recruited KarlKiernan as a senior agencysurveyor. Karl spent four yearspreviously at Knight Frankmainly concentrating onindustrial and office agency, andhis expertise will be drawn on togrow the company with furtherinstructions. He’ll be dealingwith all aspects of commercialagency to include industrial,office, retail, development andinvestment. Karl will also act onsome disposals of residentialinvestments on behalf ofinsolvency practices. He joins theteam who act on behalf of anumber of high profile receivers,which they will continue to focusupon. Karl commented: “In thecurrent market there will be acontinual rise in the number ofdistressed sales and I’m lookingforward to the challenge ofworking in a practice specialisingin such a discipline. Our otheraim is also to seek work intraditional occupational agencysectors.”

Russell HefferanDTZ International property adviser, DTZ,has announced the promotion ofRussell Hefferan to associatedirector. Russell Hefferanundertakes valuations for securedlending purposes, covering the mainsectors of commercial propertythroughout the north-west. Inaddition, Russell undertakes regularportfolio valuation work for a rangeof institutional funds and providesexpert evidence reports for

litigation advice. Russell’sexperience includes regularvaluations of the Mall ShoppingCentre in Chester, the freeholdinterest of Cheshire Oaks retail,leisure and office parks, theTithebarn Development in Prestonas well as prime retail and officeinvestments in Manchester, Chester,Liverpool and Preston. Mike Mitchell, northern regionchairman at DTZ, commented: “Thispromotion is well deserved anddemonstrate DTZ’s commitment torecognising work with clients. Weare committed to growing thebusiness even during the currenteconomic downturn.”

Arrowe Commercial Park Smith & Sons Merseyside agents Smith & Sonshave announced theirappointment on ArroweCommercial Park in Upton. The81,065 sq ft site consists of 21modern units in sizes rangingfrom 1,936 to 81,065 sq ft. Thebusiness units contain toilets,kitchen facilities, roller shuttersand parking space for over 170cars with some units includingreception space and offices.These buildings are suited totrade, factory or warehousespace.

Lancaster House Knight Frank The letting space of the groundfloor offices at Lancaster house inthe city has been handed over toKnight Frank to market on behalf ofNetwork Rail. The 9,670 sq ftoffices are located within MercuryCourt on Tithebarn Street, and havebeen refurbished to provide amodern, open plan layout withcellular office space.

Exchange Flags Knight Frank Knight Frank has now replacedCheetham & Mortimer as agentsfor the leisure units at UK Land& Property and Pochin’sExchange Flags in the city centre.The move comes after theacquisition, earlier this year ofretail/leisure agency MarkhamVaughan Gillingham by KnightFrank. There are a dozen leisurespaces available ranging from500 to 10,000 sq ft. CoffeeRepublic recently became thefirst leisure tenant to sign at themajor office-led refurbishmentsince UK Land/Pochin took upthe assets from Bill Davies.

Karl Kiernan

Career Appointments

Agency Appointments

Russell Hefferan

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Barry Pearson Director

complete a deal and having to advisea client that we cannot progress atransaction usually due to factorsoutside our control. I hatedisappointing people but given thecurrent property price correction sometransactions are now no longer viable.The best thing about my job isdefinitely the variety; although I havebeen in the banking sector for over21 years, each day presents differentchallenges, and I am constantlylearning new things. I love solvingpeople’s problems and I get a real kickfrom formulating and structuringsolutions. The other key thing is thepeople; I have a fantastic team ofpeople working with me.How would your colleaguesdescribe you?Dedicated, highly experienced,approachable, supportive and fun plusa good drinker! How do you like to unwind inyour free time?I’m naturally a very sociable teamperson, having played rugby for themajority of my life, but I had to retireabout five years ago due to an injury.Since then I have taken up kick-boxing, and I really enjoy the gym. Ifind that I need some form of high-energy relief to help manage stress;otherwise I would probably just drinkheavily!

investment from hedge funders andcorporate institutions, both in andoutside the UK. Furthermore, I take amajor role in structuring and managingour portfolio of joint ventures withclients. The current issues in thefinancial and banking market placehave presented a new set ofchallenges, but they have also broughtabout some very excitingopportunities. Where do GB Finance's specialisms lie?At GB, our role is to use all of ourcombined skills and knowledge tostructure and source financialsolutions for all types of propertytransactions on behalf of our clients.This ranges from simply brokering aproduct for a client to setting up a jointventure, when we use our own cashand skill base to compliment ourclient’s own business and/ortransaction. At GB we combine theseskills with the fact that we are totallyindependent and so can use thisexperience and skill base to source andstructure solutions from the whole ofthe market place on behalf of ourclients. Given that we work for ourclients then our only limitations are thefinancial market place. What are GB Finance's plans forthe north-west?We have already achieved a lot at GB in

such a short period of time. We haverecruited a skilled multi-disciplinedteam from the construction,accountancy, investment and bankingsector plus we have secured our ownfunding lines. With this key platform inplace, GB is now serving a good clientbase and have already put in place anumber of joint venture companieswhich is a strategy that we now wantto develop. We’re looking at a numberof key opportunities at present whichwill involve acquisitions and/or settingup further joint ventures with otherestablished operators so that we canspread the operational base of GB intoother key strategic sectors which webelieve will complement existing coreproducts and services. What excites you most about your role? The autonomy. I had a key regionalrole for one of the largest banks in theworld within the commercial sectorwhere I was regional director ofbusiness development and head ofproperty finance. I really enjoyed itbut, as with many large organisations,they are in place to deliver standard“on the shelf” solutions. At GB we arenot restricted to one range ofproducts and can be totally creative.What are the worst and bestthings about your job? The worst things; not being able to

In thespotlightBarry Pearson is director of GB FinanceGroup in Liverpool, responsible for deliveringcreative finance solutions to clients acrossthe commercial property sector. He has overtwenty years experience in the field, and hasa major role in structuring the firm’s portfolioof joint ventures with clients.

What led you to this senior role? I am incredibly lucky, since my job nowinvolves me living my childhoodambition. I grew up in a veryentrepreneurial environment, my fatherhas always been self-employed, and Ialways wanted to build and managemy own business. I have always been astrong self-starter and I set up theRoyal Bank of Scotland’s property teamas head of property finance for thenorth-west and Wales. I resigned frommy position as regional businessdevelopment director in May 2006 tobecome a director/shareholder in GBFinance Group plc. The opportunitycame about after I helped GaryGardner structure his own fundinglines for his business, which was thencalled Gardner Baker, whilst I was stillat RBS. We worked together forseveral months on this project, and itsoon became apparent that we had agreat deal in common, including astrong work ethic and high businessmorals. As our conversationsdeveloped then so did the “blue print”for what is now GB Finance Group plc. What does your role consist offrom day to day? My role changes from day to daydepending upon my clients’requirements and GB’s needs. I amconstantly on the look out for newproducts and sources of cash and

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Whispers

Despite the current economic climatecommercial property agents are, asever, mixing and mingling at events.It’s a tough job keeping up butultimately worth the effort whenprovided with the perfect fodder forour Whispers column.

Whispers was left wondering towhat extent event organisersconsider their attendees beforebooking celebrity guests, afterthe recent faux pas atLangtree’s Mere Grangelaunch. It was possibly due tothe fact that the invited agentswere all Manchester andLiverpool based that they wereoblivious to the star quality onoffer, in the form of St Helensplayers Paul Wellens and JonWilkin.

At the recent Your MoveProperty Awards, guestswere told to be extravigilant after a pickpocketwas spotted in the midst.Others, however, didn’tseem too concerned at theprospect!

As we approach the end of2008 thoughts inevitably turnto the past year’s achievements.Nominations are already in for

Deal of the Year. One putforward by Liverpool’s leadingagency (according to EGi Deals’database) was apparentlystruck in-house. It involved anout of date bottle of Pernot and£5 – say no more!

The credit crunch is the onlything team DTZ are biting theirteeth into lately after it wasreported that biscuits werebanned, to cut costs, during arecent meeting to discuss theeconomic crisis.

Surely times aren’t sotough that guests atbusiness breakfasts needto bring their own chairsto sit on? With Bob Pratteyas speaker, it was said tobe a case of ‘standing roomonly’ at the BarclaysCommercial sponsoredevent, but Whispers isn’tconvinced.

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p40-56:p03-12 20/11/08 08:20

For more information and advice about investing in Wirral

Call 0151 650 6915 Visit www.investwirral.com

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

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

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

bigon support

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move commercial 10

Documents

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