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Top story
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Liverpool in the spotlight as retailers get canny
All eyes are on Grosvenor’s Liverpool One scheme as the property and retail sectors struggle to accommodate each other during the economic downturn, according to leading retail agents. Research by consultancy King Sturge indicates that UK retail rents fell by 0.4 per cent in 2008, the first fall since 1993, and are not expected to return to growth until 2013. And with 2.5 million sq ft of new UK shopping centre space opening in 2009, landlords need to offer more breathing space to struggling retailers. Jonathan Newns, retail partner for the north at the firm, told Insider: “Liverpool One has set new levels of headline rents in the city, but those big deals tend to offer long rent-free periods. Retailers are quite canny and they’re definitely in a more powerful bargaining position now as no one wants vacant units.”
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Deals
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Paver Smith makes Manchester move
Liverpool-based PR consultancy Paver Smith has acquired Manchester rival Stripe Communications and revealed that a search is on for new offices in the city. The move gives Paver Smith a physical presence in the Manchester market, where it advises Grant Thornton, DLA Piper, Muse Developments and Greater Manchester Public Health Network. Stripe is headed by former Harrison Cowley UK head of business development, Denise Mullen and boasts IKEA and Manchester Greyhound Stadium Belle Vue. The acquisition boosts total agency headcount to 36, with managing director Dougal Paver predicting “closer to 50” by the end of 2009. Six staff will initially be based in the agency’s new offices, which Paver says he expects to be “in or around” Spinningfields. 
Gravatom swallowed
Cumbria-based nuclear engineering company Gravatom has been acquired by French outfit ONET Group. Under the terms of the deal, Gravatom will become part of ONET Technologies, the specialist nuclear and engineering division of ONET Group. The division is the leader in France in the decommissioning market and number two after AREVA in reactor maintenance. Gravatom Engineering Systems employs 130 people at sites in Workington, West Cumbria and Bishops Waltham, Hampshire. It clocked revenues of £9.7m in the period ending 31 May 2008.
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Business
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Ellman secures port rates debate
Louise Ellman, Labour MP for Liverpool Riverside, has secured an adjournment debate in the House of Commons on the row over backdated business rates for port-based companies. The debate will be heard on 19 January. Ellman will use the session to outline concerns over government changes to rate collection, which has already been held responsible for the collapse into administration of north Liverpool shipping business Thomas Nichols Brown, with fears that many more could follow.
JLT clinches submarine contract
Runcorn-based company JLT has won a major contract to equip the latest mini-submarines with computers. The machines will run the navigation and autopilot systems in Plymouth-based Marlin submarines, as well as being used for sonar applications and image capture from the onboard 360 degree camera pod. The submarines will be used all around the world for both commercial and recreational pursuits.
Chapman close-up
Tony Chapman has been appointed as partner to lead the forensic accounting team in the north for Baker Tilly. The move is part of a push by the firm into the forensic, investigatory and dispute advisory arenas. Chapman joins from law firm Pinsent Masons where he was responsible for building and leading a team of forensic accountants advising on the financial and commercial aspects of disputes handled by the firm.
Ethnic business awards launched
The second North West ethnic minority business awards have been launched today by the Northwest Regional Development Agency. The awards, which aim to inspire and encourage more members of the ethnic community to start-up or expand their businesses in the North West, will culminate in a ceremony at Manchester United on 9 March. Amongst the awards at the ceremony are the rising star award, young entrepreneur of the year, achievement in international business, social enterprise of the year, entrepreneur of the year and North West business of the year.
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Property
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GB signs £43m joint venture
Property finance company GB Finance, based in The Plaza on Old Hall Street, has agreed a £43m joint venture with Cosmopolitan Housing Association to develop supported housing for the NHS and local authorities. GB mostly provides bridging finance on behalf of developer clients, but will now itself invest – it has committed an initial £9.3m to the venture. Cosmopolitan, also based in Liverpool, manages around 4,000 homes.
Kier moves to Estuary
Building and civil engineering contractor Kier is to move to the Office Quarter in UK Land & Property’s Estuary business park in Speke. Kier will move its Merseyside operation from Knowsley Industrial Park into 15,000 sq ft of office space on a ten-year lease. The company will join existing occupiers including Keepmoat, HBOS, Riverside Group and Littlewoods Home Shopping. The Office Quarter has 5,000 sq ft immediately available and, when fully completed, the scheme will total 140,000 sq ft.
Warrington refurb funded by RBS
Warrington Business Park has undergone a £200,000 refurbishment programme funded by The Royal Bank of Scotland’s commercial banking team. The park comprises 165 offices for start-up companies available on flexible and long-term leases and is owned by Warrington Training Trust, which bought it in 1990, when it was the Beaumont School. It houses 60 businesses, employing over 300 people. The project took nine months to complete.
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Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email:
nw@insiderdaily.co.uk
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