IFB 2016: Can Liverpool be a gateway to Europe? The city may be a bit “out on a limb” in terms of its connectivity to the other major cities of the Northern Powerhouse, but it is appreciated by international investors, Mason Owen director Simon Bland said at an Estates Gazette City Talks panel.
“I think the perception of Liverpool [in the UK] outside of the North West is still that Liverpool is what it was 20 or 30 years ago, and when they come and visit property investors almost fall of their chairs,” he said.
“Overseas investors understand the historical trading heritage [of the city] and see Liverpool for what it is.”
The city has been far behind Manchester in terms of investment volumes over the past five years but that could change. Investment volumes in Liverpool in Q1 2016 were £37m.
British Property Federation chief executive Melanie Leech said the key to continuing that upward trend was to create a “differentiated identity and really clear vision within the Northern Powerhouse”, as well as improved transport infrastructure.
DLA Piper partner Philip Rooney said public sector incentives such as rental guarantees were needed to inspire confidence form the developer community.
Liverpool City Council has been driving forward development itself, with projects including the Exhibition Centre Liverpool and 4* Pullman Hotel waterside development.
Nick Putnam, the city council’s divisional director for development and housing, said the city was looking at building its own multi-storey car parks and offices for the private sector.
Housing, cultural opportunities and the ability to retain student talent from the universities is key to attracting international companies to Liverpool, Bland said. “If you are going to locate your UK headquarters here, you need to know that the city will have all the benefits that your top executive would want.”
Why should Asian investors look to Liverpool over Manchester?
Brian Meharg, finance director of Promenade: Liverpool offers better value for money (and better returns)
Simon Bland, director, Mason Owen: The perception of the UK is such that property here is at a discount to Manchester. But also we have a world-class shopping centre that is growing from strengh to strength..and the office market is at a point where it has to only go one way, which is up.
Philip Rooney, partner, DLA Piper: It’s a place which has always understood that we need to look outside of the UK culturally…and doing business with people outside of the UK has been second nature here for two or three hundred years.
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