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Old February 11th, 2007, 11:51 PM   #61
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Bruntwood completes £440m securitisation

Manchester-based developer and investor Bruntwood has completed a £440m commercial mortgage-backed securitisation (CMBS), enabling an expansion of its portfolio across the north.

The deal, completed this week, leaves around £200m-worth of Bruntwood's £900m commercial portfolio mortgage-free.

Bruntwood’s North of England office portfolio is spread across Leeds, Liverpool and Manchester, where it owns around 20% of the total office space.

Its properties are valued close to £900m and the deal leaves property valued in excess of £200m mortgage free. The move leaves the company in a position to embark on new projects.

Bruntwood’s Chief Executive, Chris Oglesby said: ‘We have been aware of the growth of the CMBS market for some time, but we wanted to ensure it would afford us the flexibility we require.

‘Working with the Royal Bank of Scotland and the rating agencies, we have put together a structure which provides both the protection that bond-holders require and the flexibility that Bruntwood requires to continue to run a successful customer service business.’
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Old February 12th, 2007, 11:45 PM   #62
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City of London and Manchester linked

With more than 92,936 sq.metres (1 million sq.ft.) of new offices under construction, and new plans for more space being announced regularly, Manchester is keeping up the pace of change.

The former City of London Lord Mayor, David Brewer, highlighted the vital role of Manchester as part of the UK’s financial services industry with a growing number of jobs dependent on that sector.

“Manchester is part of the Square Mile and the Square Mile is part of Manchester, we share the same regulator, our businesses are intertwined, and, frankly, we face many of the same issues and problems.”

But Brewer warned that competition is hotting up and 220,000 Manchester jobs depend on the city becoming smarter, faster and more innovative. He pointed out that the GDP in the Manchester region is £47 billion and that firms based there had steered more than half the companies on the Alternative Investment Market (AIM) to a listing.

This international position has been recognised in Manchester and is at the heart of the growth of the commercial property market.

Lambert Smith Hampton point to one of the driving forces being the pre lets of large Grade A offices with the take up in 2006 likely to exceed last year’s 78,996 sq.metres (850,000 sq.ft.) in the city centre.

LSH’s Peter Skelton commented: “Manchester has one of the UK’s fastest growing economies and is among the strongest regional centres in Europe. Prime rents are £306.66 a sq.metre (£28.50 a sq.ft.) but we forecast an increase to £322.80 a sq.metre (£30 a sq.ft.) by the end of 2007.” That level has been beaten in a small letting this year, but not for sizeable space.

Although considerable attention has been focussed on the BBC and its planned move to Salford Quay, the basic expansion in the city is coming from the growth of the financial services industry. As it happens the BBC has chosen the architects Wilkinson Eyre for its three buildings totalling 34,386 sq.metres (370,000 sq.ft.) which will be the centrepiece of Peel Holdings’ media city.



more at compro register

http://www.compropregister.co.uk/new...spx?regionid=2
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Old February 13th, 2007, 11:40 AM   #63
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Cheers mudders!
How's the bairns by the way?
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Old February 13th, 2007, 11:19 PM   #64
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good northy...lovin the family thing m8, dont get time 4 knocking the tunes out much but its woth it...hows your music career ?
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Old February 13th, 2007, 11:32 PM   #65
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Trafford move for Adidas



MOVING: Stockport HQ

ADIDAS is to move to a massive new 360,000 sq ft headquarters and warehouse complex in Trafford Park.

The deal, which is understood to have been agreed with property developer St Modwen, looks set to be one of the biggest property lettings of 2007.

The developer's subsidiary Key Property Investments has let a 360,000 sq ft distribution warehouse on the 16-acre former Hotpoint site at Trafford Park.

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St Modwen has so far refused to confirm the name of the occupier, but Adidas is understood to have signed up for warehouse space along with 20,000 sq ft of offices. The rent is £4.75 per sq ft.

Until now the iconic German sportswear giant had its UK headquarters and warehouse in Stockport.

Building work on the new Adidas space is due for completion in November this year.

Colin Chivers, industrial director at Jones Lang LaSalle's Manchester office, advised Adidas. He said: "Whilst partially a direct retailer, Adidas is primarily a supplier to main stores, sportswear and sports clubs and this will be typical of the type of deals we will see in 2007.

Expansion

"In addition to the expansion and upgrading for the primary retailers and supermarkets, theretailers will continue to press for ever more efficient supply chains and will also need to take account of their well publicised green agendas. This will lead to much reassessment of the supply chain and distribution solutions."

Steve Johnson, partner at King Sturge in Manchester which is advising St Modwen, said: "Trafford Park continues to be a strong regional player attracting high profile occupiers. It's a location that has consistent occupier demand and developers/funds have been steadily feeding demand with new and refurbished units.

"It is a well established area and ongoing development and investment clearly demonstrates Trafford Park's 3,000 acres make it one of the largest concentration of industrial and distribution space in the UK, and already hosts over 1,400 companies, testament to its importance in the north west market.

"There is a wealth of available labour in Trafford Park and it has excellent access to the M60 orbital motorway, the Euro Rail Freight Terminal and shipping facilities via the Manchester Ship Canal. Add this to the extensive retail and leisure amenities in and around the area and you have all the necessary ingredients for a successful distribution and logistics location."

Andrew Aherne, director and head of industrial agency at Lambert Smith Hampton in Manchester, said: "Trafford Park still has the appeal.

"There is activity both from the occupier side and the supply side is responding to this. Enquiry levels for buildings of this size continue to be high and this principally continues to come from the retail sector or consumer products. It is likely that over the course of the next few months we shall see further lettings from this sector and the third party logistics operators.

Prime location

"Trafford Park continues to be a prime location for industry. The pure volume of the park enables a continual re-cycling of land providing new employment accommodation. Land for industrial development is continually being constrained by further development of non-employment uses, such as the new Snow Dome and an increasing re-cycling of traditional industrial land for offices.

"Trafford Park is continually reinventing itself and increasingly we are seeing a number of sites that historically could have come for industrial development instead for offices and leisure - Snow Dome being a prime example."

As well as St Modwen, a number of other developers are active in Trafford Park. Legal & General Investment Management are marketing Fusion at Electric Park, Westinghouse Road which includes a 208,000 sq ft speculative high bay warehouse with adjoining occupiers including Kellogg's, L'Oreal and Associated British Foods.

This has been followed by Merlin 310, a 310,000 sq ft high bay warehouse fronting Barton Dock Road, it has good prominence and is close to Junction 9 of the M60.

This scheme, being developed by Quorum/Morley FM is due for completion later this spring.
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Old February 15th, 2007, 11:53 PM   #66
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My apartment backs onto the old HQ of GMPTE on Portland St ,,, just letting you know this week they have now finally cleared out and moved to Piccadilly Place.
I wonder if the Thistle Hotel take this oportunity to extend there room numbers ?
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Old February 16th, 2007, 12:10 AM   #67
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Quote:
Originally Posted by highriser View Post
My apartment backs onto the old HQ of GMPTE on Portland St ,,, just letting you know this week they have now finally cleared out and moved to Piccadilly Place.
I wonder if the Thistle Hotel take this oportunity to extend there room numbers ?
This building is being refurbished by MCR Properties. It will continue to serve as office space. See Retail Thread for a link. They are under discussion over there this evening because of involvement on the Harry Ramsdens site.
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Old February 16th, 2007, 04:58 PM   #68
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Truly awesome Manchester!

http://www.gvagrimley.co.uk/x4192.xml

Grade A Space Under construction at the moment:

Birmingham 62,600 sq metres
Bristol 47,800 sq metres
Cardiff 3,600 sq metres
Liverpool 48,300 sq metres
Manchester 188,000 sq metres............. WOW!!!!
Leeds 55,800 sq metres
Newcastle 19,800 sq metres
Edinburgh 43,100 sq metres
Glasgow 15,500 sq metres

Total projected office completions to end 2009:

Manchester 3.5 million sq ft

Leeds 2.05 msf

Birmingham 1.4msf
Glasgow 1.15msf
Liverpool 1.13 msf
Bristol 1.05 msf
Edinburgh 1msf
Newcastle 0.9 msf
Cardiff 0.6 msf

So Manchester has more office construction on-going and projected than the next two nearest UK regional cities.
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Old February 27th, 2007, 02:53 AM   #69
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Manchester hosts Tory conference

The Conservative Party has decided to hold its main annual conferences - in 2009 and 2011 - in Manchester.
The city was described as "vibrant and exciting" by Tory Chairman Francis Maude, who said the party had enjoyed their 2006 Spring Forum in the city.

Event organisers at the Manchester Central complex are expecting to attract more than 10,000 party members.

This year's annual party conference will take place in Blackpool, followed by Birmingham in 2008 and 2010.

Mr Maude added: "Manchester is one of Europe's great cities which represents the dynamic face of modern Britain.

"The Conservative Party is looking forward to coming to Manchester and giving the city a great opportunity to showcase itself."

Welcoming the decision, the Leader of Manchester City Council, Sir Richard Leese, said: "Major conferences are good news for Manchester because they bring visitors, investment, and support jobs for local people in local business."
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Old February 27th, 2007, 02:57 AM   #70
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Sheeeeeet! I must be tripping. The Tories are having their annual conference in Manchester! That smarmy bastard Cameron is really going for the northern vote then. Spin, spin, spin.
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Old February 27th, 2007, 06:16 PM   #71
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Good find there Fly. Also interesting that Manchester is the only city outside London to command prices of over £300 per sq m of grade a office space beating the likes of Bristol and Edinburgh which is impressive.
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Old March 2nd, 2007, 11:07 PM   #72
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From the BBC website:

Millions ploughed back into city

The city council collects more than £200m in business rates every year
More than £17m is to be ploughed back into services in Manchester through a government incentive scheme aimed at encouraging business growth.

Under the Local Authority Business Growth Incentives (LABGI), Manchester City Council was awarded £17,692,616, the highest in the country.

Revenue from business rates is paid to central government and redistributed to local authorities through a formula.

Councils receive extra funds if they raise above a certain level from rates.

'Local people'

Every year Manchester City Council collects more than £200m in business rates.

Councillor Sue Murphy said: "This award is richly deserved.

"It is very exciting now to see the fruition of projects started in recent years and the benefits of the city's growth which we've all witnessed on the skyline.

"It recognises Manchester's economic expansion and the increasing confidence of investors in our vibrant city.

"The money we receive will be spent on improving services for local people."
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Old March 3rd, 2007, 03:37 PM   #73
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Quote:
Americana in £200m sale

Kevin Feddy - Exclusive
2/ 3/2007



AMERICANA, the Manchester fashion firm behind the Bench, Hooch and Million Dollar brands as well as Westworld shops, is set to be sold in a deal which values the company at almost £200m.

London-based HgCapital is close to sealing its investment in the fast-growing business, after seeing off competition from other venture capital outfits and potential trade buyers.

The deal will seal an exit for private equity outfit ISIS, which has an 11 per cent stake. Americana's bosses, who hold 89 per cent, will scoop a fortune by selling some of their stake while retaining a significant shareholding.

The business was founded in 1998 and five years later underwent a management buyout backed by ISIS, which invested £6.4m for a 36 per cent stake.

Since then, the company has been refinanced twice, most recently in autumn, 2005, in a £50m transaction which saw ISIS reduce its stake.

Ardwick-based Americana has gone from strength to strength, with annual sales rising from £25m to over £80m and staff numbers from 250 to over 350.

Bench and Hooch clothes are worn by pop stars such as Robbie Williams and Oasis brothers Liam and Noel Gallagher and are sold in shops such as USC, Bank, Republic and House of Fraser. In addition to clothing, Americana supplies accessories such as bags, sunglasses and shoes.

Americana has significant operations in London, Munich and Shanghai as well as its Manchester headquarters. It has sales across Europe, the United States, Canada and the Far East.

It is understood that the ISIS team of Andy Gregory and Pete Clarke have held talks with a number of would-be suitors, including Graphite Capital and banking group Kaupthing, since the business was put on the market last October. They were also looking at the possibility of floating the business on the stock market.

A source said last night: "There's been a lot of interest in the business, but the deal is on the home straight now. It's a well run business which is growing strongly and has an opportunity to expand further."

The exit will be the second deal within a month for the Manchester office of ISIS. It has recently invested in care services provider Paragon (UK), based at Adlington, near Chorley. Last year it funded a management buyout of north west IT services company Panacea and a secondary buyout of Stockport firm Micro Librarian Systems.

HgCapital's portfolio includes holiday firm Hoseasons and classical music publisher Boosey & Hawkes
..
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Old March 3rd, 2007, 03:45 PM   #74
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Blimey - they have done well for themselves havent they?
I know one of the lads who started the company - it seems he is about to become very rich.
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Old March 4th, 2007, 07:34 PM   #75
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Business leaders are concerned about poor transport infastucture, particularly linking the north to the south of England. Unless there is some dramatic investment to reduce travel times from north to south big business will move out. Company HQ's are finding the North less attractive as a relocation option, established northern operations will start looking further south if costs continue to be pushed up. The article also stated northern Britain could face economic isolation without this investment, foreign multinationals stated transport problems being the main reason for not investing in parts of the UK. If you want to create a northern economic super region you need an ultra fast transport link with the south...or it ain't gonna happen!
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Old March 4th, 2007, 08:16 PM   #76
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Quote:
Originally Posted by URBANISER View Post
Business leaders are concerned about poor transport infastucture, particularly linking the north to the south of England. Unless there is some dramatic investment to reduce travel times from north to south big business will move out. Company HQ's are finding the North less attractive as a relocation option, established northern operations will start looking further south if costs continue to be pushed up. The article also stated northern Britain could face economic isolation without this investment, foreign multinationals stated transport problems being the main reason for not investing in parts of the UK. If you want to create a northern economic super region you need an ultra fast transport link with the south...or it ain't gonna happen!
It ain't gonna happen. Remember the Eddington report. This calls for small schemes - no new links between major cities etc. No ambition either, but when you're in London, who gives a toss about elsewhere ?? Currently transport is for raising not spending money. Northern Britain does well despite not because of the South.
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Old March 5th, 2007, 09:42 PM   #77
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Article below signalling good news about the growth of the local economy. However does raise questions about the way in which Locl Authorities are funded.

Quote:
Manchester hits the jackpot with £17m plus reward for business growth

A government incentive scheme aimed at encouraging business growth will see Manchester City Council being awarded £17, 692,616 – the highest figure in the country.

The grant, awarded under the Local Authority Business Growth Incentives (LABGI), reflects the success of Manchester’s regeneration, establishing the city as a major economic power house in Europe.

Manchester is among 328 local authorities to receive a share of £316m for 2007/2008 under LABGI. They were announced this week by Local Government Minister, Phil Woolas and Treasury Minister John Healey.

This is the second year of a three-year scheme which expects to see up to £1 billion allocated to local authorities throughout the UK by 2008.

Revenue from business rates received by local authorities is currently paid to central government and redistributed to local authorities by formula within the local government finance settlement. LABGI encourages councils to promote economic growth in their areas by rewarding them for an increase, above a certain level, in the total business rate they collect.

Councillor Sue Murphy, Manchester City Council’s executive member for finance, said: "This award is richly deserved. It recognises Manchester’s economic expansion and the increasing confidence of investors in our vibrant city.

"The Council worked constructively with the Inland Revenue’s Valuation Office to ensure rateable values were properly assessed. The money we receive will be spent on improving services for local people.

"As an authority, we collect more than £200m a year in business rates. For years, we have called for business rates to be returned to local authority control. It is very exciting now to see the fruition of projects started in recent years and the benefits of the city’s growth which we’ve all witnessed on the skyline."

Media contact
Deborah Grace/Rebecca Kennedy, tel 0161 234 3332
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Old March 7th, 2007, 07:00 PM   #78
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Ever wondered where Manchester sits in the world economy league?

Quote:
The group predicts Birmingham will drop to 79th position from 71st, Manchester from 73 to 82 and Leeds will slide from 85 to 108 in its global gross domestic (GDP) rankings over the coming 15 years.
Full article here
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Old March 7th, 2007, 07:18 PM   #79
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But the UK Economic Outlook report says the trio's decline will not be because their economies are stagnating, but rather that their growth rates are not expected to keep pace with economies of similar size.
So why are we not increasing as much as similar economies? Is it because of massive economic growth in asian cities i.e. china? Or is it because we are hampered by London and the UK government?
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Old March 7th, 2007, 07:27 PM   #80
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Originally Posted by skit_uk View Post
So why are we not increasing as much as similar economies? Is it because of massive economic growth in asian cities i.e. china? Or is it because we are hampered by London and the UK government?
It'll be the growth of lesser developed nations which causes the drop.
Compared to other developed nations our cities are doing alright.
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