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Grasp the opportunities, says Norris at awards
Steven Norris, the former Conservative Party chairman and London mayoral candidate, said the depressed state of the property market would lift in "a year to 15 months". Speaking at the British Council for Offices' northern awards dinner at Liverpool's Crowne Plaza, Norris said: "If technical economists tell us this isn't a recession, I can say it certainly feels like one - and things will get worse yet. But oil at $140 a barrel means money is building up in the Middle East and provides great liquidity in today's global market, and that is tomorrow's opportunity." North West winners at the awards included fit-out contractor Overbury, Manchester developer Wrather and Network Rail.
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Business
Planning boost for Daresbury
With the Science and Technology Facilities Council's decision over future funding at Daresbury Science & Innovation Campus imminent, Halton Borough Council has approved plans for a new £25m facility at the site, which will seek to attract hi-tech businesses. Construction of Vanguard House is expected to begin in September 2008 with completion a year later. It will provide 35,000 sq ft of office and laboratory space in units of between 1,000 sq ft and 7,700 sq ft. Funding for the project was agreed in April via a deal between the Northwest Regional Development Agency, Daresbury Science & Innovation Campus and St Modwen.
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Hill Dickinson lands Jersey lawyer
Liverpool law firm Hill Dickinson has strengthened its banking team by appointing Elaine Charrôt as partner. She joins from Carey Olsen's Jersey office where she was a senior associate in the corporate group, acting on a range of finance transactions, property unit trusts and film financing arrangements. She will work across the North West from Hill Dickinson's offices in Manchester, Liverpool and Chester.
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Barrow celebrates carrier order
The government has signed a £4bn aircraft carrier order with BAE Systems and VT Group that will mean £300m of work over five years for Barrow-in-Furness. But only about 400 jobs will be created there for contract workers, rather than the 700 hoped for, as preliminary works will be done in Newcastle. About 130 staff in Barrow are already working on the carrier's design stages, with steel work expected to start in autumn 2009. The deal means a return to building surface ships in Barrow for the first time since 2004, although BAE's core workforce will still concentrate on Astute class submarines.
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Dunn deal as shares slide at Darwen
Fresh from completing the reverse takeover of Yorkshire bus company Optare for £16m, bus builder Darwen Group has appointed Mike Dunn as its new chief financial officer. He has held similar roles with Hydratight, Airbath Group and most recently Lynx Technology. But shares in AIM-listed Darwen slumped 29 per cent this morning to 22p as North East electric vehicle manufacturer Tanfield continued to suffer from a share collapse as a result of deterioration in trading and poor cash flow. Like Darwen, Tanfield was founded and is chaired by Roy Stanley.
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Deals
Frankly speaking
Nationwide Franking Sense, a Bolton company that supplies postal franking machines to customers across the UK, has secured a £1m funding package from The Royal Bank of Scotland to expand its leasing operations. The family business, founded 16 years ago, plans to use the funding to grow the size of their leasing book and aims to increase turnover from £3m to £5m in the next two years.
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New lease of life for pet company
Bootle-based Harry Irving and Company, a producer of pet products and accessories, has been rescued from administration after Petlife Ventures agreed to buy the business. The company, which had an annual turnover of about £6.6m, collapsed in June with administrators Paul Flint and Brian Green from KPMG Restructuring in Manchester forced to make 19 of its 24 staff redundant. The new owner intends to continue to trade the business under its associated trademarks. KPMG's Flint said: "We are delighted to have completed such a quick sale of this business and would like to wish Petlife Ventures all the very best for the future."
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Property
Ainscough heads for Wales
Ainscough Johnston, a strategic land company backed by Martin Ainscough, has bought a 30-acre North Wales aluminium factory site, disused since August 2007, from administrators KPMG and announced plans for a residential-led scheme. Nigel McGurk, managing director of Ainscough Johnston, said: "The Dolgarrog aluminium site is in a stunningly beautiful part of the country, but the village has suffered from the decline of the factory around which it grew." The company plans include affordable housing and supporting leisure uses.
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Eureka at Europa
First Investments' industrial portfolio at Europa Trading Estate in Kearsley, Bolton, has reported continued success during the past year, attracting four new leases and a series of lease renewals, accounting for almost 60,000 sq ft of industrial space at an annual rental of almost £250,000. Industrial foam cutting company Pathfinder Fox relocated to a 8,140 sq ft facility from a smaller property on site and is already looking for a third facility.
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