GOLD SPONSOR MEDIA PARTNER DELEGATE PROGRAMME TOUR: DINNER: CONFERENCE: 1-2 JULY 2014 WWW.UKPROPERTYFORUMS.COM FOLLOW US: @UKPForums JOIN THE CONVERSATION: #IFB2014 SILVER SPONSORS BRONZE SPONSORS PARTNERS MEDIA PARTNERS NETWORKING PARTNER CHARITY PARTNER 36 HOURS TO DISCUSS THE BUSINESS OF PROPERTY. Welcome to Liverpool and the UK Property Forums tour, dinner and conference. We have used the platform of the International Festival for Business (IFB) to create a property conference that breaks new ground by exploring how the UK economy can be influenced by investment in property and the development of new projects across all sectors. As one moves away from the bright lights of Greater London, UK City Leaders and investors are using a different model to generate new demand. We like to call it the ‘business of property’ and we hope that you leave the UK Property Forum with a renewed enthusiasm to ensure that the property sector continues to act as a catalyst for the future success of UK plc. Matthew Battle, Managing Director, UK Property Forums “I am absolutely delighted to give my full support to the International Fes- tival for Business. I think it’s an excellent idea and the Government will be behind you every step of the way.” Prime Minister Rt Hon David Cameron MP “The UK Property Forums is one of the events I will be involved with as it brings together some of my interests: property - business and community. I do hope that you can support the IFB by attending.” Sir Howard Bernstein, Chief Executive, Manchester City Council “The International Festival for Business will provide an excellent forum for promoting the best of the UK to potential investors. We are delighted to see that there is a strong real estate element included in the Festival and look forward to playing our part in it” Liz Peace, Chief Executive, British Property Federation CBE ON THE RECORD... Rebalancing the Economy – Conference Speakers Go On Record Amid signs of continuing recovery of the UK economy, what is the state of the property sector? Are the UK regions really feeling the benefit of new growth and how are UK and overseas investors reacting to the increasingly positive predictions for the coming years? We asked five contributors to the UK Property Forums conference at IFB for their views. Richard Yorke, Head of UK Research at DTZ sees reasons for cautious optimism: “The property market – like other markets – is driven by confidence. It’s fair to say that sentiment in the regions has been improving since last Autumn, and that is increasingly reflected in the data. “Activity in regional property markets fell back sharply during the recession because of the weakness of the economy and the lack of bank finance, but prices for good product are recovering and investors are increasingly targeting regional opportunities. Consequently, the record yield gap between London and the regions is beginning to close. Developers are responding and new lenders are providing finance. Rents are set to grow underpinned by increasing demand.” Liz Peace, the British Property Forum’s CEO agrees and believes that the Government is generally on the right track too. “Ministers are certainly concerned about the growing disparity between London and the rest of the country and are looking hard at how to spread the “fairy dust” to make sure everyone benefits from the economic recovery. The property industry is central to this.” Like Yorke, Peace sees the industry increasingly looking outside London and the south-east. “It’s getting more difficult to make money in London, so developers and investors and looking to regional cities to create value. This has partially been driven by the huge focus on London from international investors which has led UK firms to look further afield and more work needs to be done to help other cities attract foreign funds. It is starting to happen – just look at the involvement of BCEG in Airport City Manchester and Norges Bank at Meadowhall in Sheffield – but more is needed to genuinely re-balance the property market.” Ex-Goldman Sachs chief, Jim O’Neill who is now Chair of the Cities Growth Commission, has suggested that bringing together the economies of Liverpool and Manchester would create an urban area which could compete with London, something that Peel Director Lindsey Ashworth concurs with. Peel has significant land holdings in both cities and he believes that the north-west is the place that will bring them success and Liverpool in particular offers great opportunity: “As a developer, Peel invests in places to help create growth and prosperity for all. Investing in London is fine, but costs there are relatively expensive both in construction and with labour compared to the northwest. The costs of developing in the Liverpool city region and across the north-west region are much lower and the city itself is on the up again after many years of underperforming – the Port is of course expanding as can be seen with the new deep sea terminal that we are presently constructing and the success of the Liverpool One shopping development also demonstrates this. “There is probably another 20 to 30 years’ more development in the pipeline as Liverpool continues to recover and grow and now working with Manchester to create the strongest ‘super-region’ in the UK. At the heart of this is the availability of an educated, well-qualified workforce and it is striking how many students stay in the region following graduation. This is particularly true of overseas students who find the area friendly and affordable and choose to make it their home.” Paul Newman, Director of Communications at Peel, points to the success of the group’s MediaCityUK as further evidence of the ability of the north-west to attract investment and occupiers “There are now between 6,000 and 7,000 people living and working at MediaCityUK and we have a long term ambition to continue the development in line with demand. Some 130 of the companies on the site have fewer than 10 people and include a whole range of tech and media firms. Manchester has historically been a media centre and the success of the development is showing that you can work in tech businesses outside London and do well.” Julian Lipscombe is Director of Bennetts Associates, the architects responsible for drawing up major regeneration frameworks for Mayfield and the arrival of HS2 into Manchester. He certainly sees opportunities for architects across the north-west and comments: “Our scheme for the Mayfield site [south of Manchester’s Piccadilly station] is led by the residential element and the housing market in the city appears to be coming back very strongly. Allied London’s plans for the redevelopment of the Granada Studios, which we are currently pitching for, seems to support this. “I think it’s also worth bearing in mind that there are many in London who are also determined for the north-west – and the rest of the UK – to succeed. At a recent MIPIM breakfast event, the GLA was extremely clear that it believes the capital simply can’t cope with unlimited growth and needs the cities of the north to be strong, particularly if they can operate together.” ATTENDEES: TOUR Emer Dowling Abacus Shaun Corris Abacus David Almond Arup David Heron Arup Christopher Sherlock Barclays Dan Mitchell Barton Willmore Kegang Wu BCC Link to China Julian Lipscombe Bennetts Associates Colin Sinclair Bruntwood Mark Worthington or Neil Kirkham CBRE Dougal Paver Curtins Consulting Philip Black EC Harris Robert Diggle Edward Symonns James Gray Estates Gazette Krista Powell Freeman Fisher Darren Pither Gray’s Inn Estates Jenny Jackson Gray’s Inn Estates Miles Dunnett Grosvenor Steve Hutton Harmsen Tilney Shane Brian Ricketts or Nick Harrop Hitchcock Wright Andrew Taylor JB Leitch Stuart Massie Keppie Massie Tony Reed Keppie Massie Ann Hopper Liverpool Vision Andrew Owen Mason Owen Jon Swain Mason Partners Chris Hennessy or David Colvin Matthew & Goodman Brian Ricketts or Nick Harrop Nitchcock Wright Anthony Byrne Nottingham City Council Lorraine Baggs Nottingham City Council Ian Pollitt Peel Holdings Lindsey Ashworth Peel Holdings Cath Cookson Porterfield Sudarghara Dusanj Robert Cains Brewery Liverpool Ajmail Dusanj Robert Cains Brewery Liverpool Alex Anderson Robertson Construction Kenny Orpin Santander Kenny McInnes The Highland Council Richard Bertram TSK Group Matthew Battle UK Property Forums Peter Valkenburg Walker Sime Neil Kimmance Walker Sime Lucy O’Connor Wates Construction Phil Harrison Wates Construction John Foster Wates Construction Karl Jackson Weightmans LLP ATTENDEES: DINNER Emer Dowling Abacus Andrew Byrne Keppie Massie Shaun Corris Abacus Bill Hughes Legal & General Property Suzanne Adams Ad Lib Mark Povall Liverpool Airport Carol Cavanagh Alphabet Elaine Bowker Liverpool Community College Ruardiah Jackson Argent Services LLP Chris Bliss Liverpool One David Partridge Argent Services LLP Ann Hopper Liverpool Vision David Almond Arup Ian McCarthy Liverpool Vision David Heron Arup Jenny Douglas Liverpool Vision Mark Ashall Ashall Properties Sarah Kelsey Liverpool Vision Christopher Sherlock Barclays Matt Biagetti Liverpool Vision Barry Gregory Barry Gregory Comms Richard Wells MIPIM UK Dan Mitchell Barton Willmore Rebecca Keegan Morecrofts Kegang Wu BCC Link to China Chris Hennessey Mott Macdonald Sandy Gill Brabners Rob Mason Neptune Liz Peace British Property Federation Barry Williams Neptune Developments Ghislaine Trehearne British Property Federation Pat Ritchie Newcastle City Council Martin Watson Brock Carmichael Mike