Peel in the Northern Powerhouse the Peel Group With
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Contents Peel in the Northern Powerhouse with Powerful Partnerships working together to deliver Foreword 2 150 projects in the North Introduction 3 Joint objectives 4 What we bring 5 150 Projects 6 Our past 7 Our present 8 150 Our future 9 Shared agency 10 Joint benefits 11 1 October 2015 Foreword The North of England led the Industrial Revolution, by a combination of people, natural resources, ideas and place. Having faced major challenges in the 20th century, the North is now repositioning itself – through regeneration, technology and science, connectivity and sustainable resources. The Peel Group has, through powerful partnerships, played a part in this renaissance, by investing in transport infrastructure, media, energy and property. The Northern Powerhouse is a recognition of the scale and potential of the Northern economy, and the objective to achieve significant growth to rebalance the UK economy. As a strategic private sector investor that reinvests and recycles capital in the North, our prosperity and wellbeing is inherently linked to that of the North. We work with a wide range of partners, bringing ideas and solutions, land and water resources, expertise and capital. We take a long term perspective and have a strong track record of facilitating and delivering investment, driven by our motto of ‘determination, perseverance and patience’. We are greatly excited by the potential of the Northern Powerhouse and devolution to our public sector partners in the North. It is vital that strong leadership and clear, ambitious plans are put in place to secure direct investment in the Northern Powerhouse by both the private sector and by Government. This booklet sets out our thoughts on the potential contribution our investments can make to the Northern Powerhouse, working to a shared agenda with partners in the public, private and voluntary sectors. We can be a tower of strength in the Northern Powerhouse. I hope that you will find our strategy of interest. Please get in touch if you want to discuss how we can help you achieve your objectives for the Northern Powerhouse. John Whittaker, Chairman, The Peel Group October 2015 Peel Tower, Holcombe Hill - 2 looking towards Scout Moor Wind Farm Our interests include listed and private enterprises that invest directly in sustainable development, creating jobs Introduction and prosperity, new homes, modern infrastructure and places to enjoy. Peel is a significant indigenous investor, We work with partners in the private, public and third sectors to drive economic growth across the North of predominantly in the North of England, England. We are excited by Government’s commitment to in transport and logistics, retail and leisure, build a Northern Powerhouse. land and property, energy and media. We believe it is important to plan for growth at the local, city region, and pan-regional scales. In 2008 we launched We are passionate about the growth, Ocean Gateway to bring together our assets across the Liverpool City Region, Cheshire, Warrington and Greater regeneration and prosperity of the North. Manchester and redefine the economic role the combined area would have for the UK. In 2013, a review of the first five years of Ocean Gateway recorded a direct investment of £2bn, annual Gross Value Added (GVA) of £466m and over 10,000 net additional jobs. Since 2010, we and a range of other partners have supported Atlantic Gateway - a broader economic growth programme across this area. By combining our key assets “Reinvesting profits back with those of the major partners working to support into our communities to the Local Enterprise Partnerships (LEPs), an even more ambitious programme of economic growth has developed. create economic activity, employment and a better Over the past 25 years, Peel Group companies have standard of life for everyone invested over £5 billion in the growth and regeneration in the North. That’s what of the North. We are proud to have played a part and are Peel is all about”. keen to do more. Our project pipeline in the North can achieve many times what we have already delivered over the next 25 years. John Whittaker, Chairman Government’s priorities for the Northern Powerhouse include stimulating economic growth, raising productivity, and improving connectivity. Alongside others in the private sector, we support these objectives and are keen to explore how our aspirations and key projects can align across the North of England to help deliver a Northern Powerhouse. This booklet sets out our initial thoughts on our potential contribution to the Northern Powerhouse. It aims to extend our positive conversations and powerful MediaCityUK partnerships through new and existing relationships. 3 Productivity and prosperity Providing new homes Joint objectives The growth ambitions of the Northern Delivering the right amount and types of Powerhouse are predicated on boosting housing in the places where people want to live productivity and prosperity, on private sector job is central to achieving economic growth. creation and reducing state dependency. At the core of the Northern Government has invested significantly in Powerhouse is a commitment to Over 10,000 new additional jobs have so far housing through programmes such as Help to been supported by Peel’s Ocean Gateway Buy, Get Britain Building and its Starter Homes stimulate economic growth. initiative in the last five years, in productive initiative. As the market recovers it is essential sectors such as technology and construction. that planning and housing policies allow the We believe that the Northern Powerhouse Northern cities have the appetite, resources market to respond. We are keen to use our land has the potential to: and ability to grow. Peel participated in the Peel’s overall investments in the North over and resources to achieve this. RSA’s City Growth Commission and supports the last 25 years have created around 70,000 █ Improve connectivity, locally, nationally the key findings that the UK needs larger, better new jobs across a wide range of skills, levels Our proposals include a wide range of attractive and internationally connected northern cities to provide a resilient and sectors. Our future plans have the potential new communities for everyone, from city █ Create more private sector jobs platform for economic growth across the whole to deliver much more. waterfronts to garden villages, that can make a of the UK. major contribution to the attractiveness of the █ Rebalance the economy and close the Alongside this we invest in the education, North as a place to live and invest. They will ‘North-South divide’ skills and training people need to access the help to tackle the housing crisis by delivering job market. Peel supports apprenticeships and the homes that the North desperately needs. █ Improve skills, education and training Improving connectivity local construction labour programmes and The Northern Powerhouse aims to improve █ has partnered with a number of universities Retain talented workers in the North, connectivity and reduce journey times between and colleges including the recently opened and attract new talent the cities in the North. To create an economic Enhancing quality of life University Technical College @ MediaCityUK, █ area within which talent can move freely and The Northern Powerhouse will improve living Deliver more and better housing the University of Salford and Wirral Met College. quickly; like-minded businesses can cluster and standards across the North. Growing the █ Be economically self-sufficient and innovate together; and routes to market are fast economy and connecting people with the reduce state dependency and effective. jobs created will make a real difference. It will improve the prosperity of communities. It will █ Drive urban regeneration Peel believes that connectivity is key to Access to the Port of Liverpool facilitate investment in the social, community █ Create great places to live and work economic competitiveness. Through our ports and green infrastructure that they rely on. It and airports we have invested significantly in can start to alter perceptions and make strides █ Champion environmental quality international gateways and national connectivity. towards narrowing the gap between the North There is more to do to optimise these assets and South of England that has been evident and improve their surface access connections. for decades. In short, to improve the prosperity, wellbeing and quality of life of residents and communities. Peel takes a holistic view of development This will be achieved not by restraining Better connectivity will enhance the and regeneration. We have pioneered urban growth in London and the South East but by competitiveness of the North for investment regeneration and investment in socially and stimulating it in the North. This can only happen in logistics and supply chains which require economically deprived communities. through direct investment, and will be aided by modern, efficient infrastructure and premises. devolution of power and policies. The use of northern ports for containerised goods can reduce transport costs and stimulate We are committed to investing in lasting significant growth in the North, whilst reducing improvements in the fortunes of the North and Through the Northern Powerhouse and the environmental impacts of freight transport its people. the devolution of powers and funding, the and easing congestion on roads. momentum is building for investment and growth in the North. This momentum must be harnessed by Government and business, to 4 deliver shared objectives. What we bring Peel Group Investment Portfolio - October 2015 Real Estate Peel is unique and ‘of the North’. Strategic Destinations Energy & Utilities Land & Prop We are a private investment group, eel ert P p (100% y Ports & Marine rou ) G with strong roots in the North of England. Services ) in % tu Super Regional 0 We are passionately committed to (5 P Centres r p o Shipping u p o e northern regeneration and growth. r r t G i e Town & City s s t r ( Centres 2 o 5 Shipbuilding P % l & Repair e Our vision is to create sustainable environments where people and businesses can ) e P flourish.