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Science park beats growth projections
In a sign that the future of the city's economy really does lie with knowledge-based businesses, Liverpool Science Park (LSP), the high-spec serviced office space on Mount Pleasant, has welcomed its latest tenant, the Centre for Education Leadership Liverpool (CEL), and hit its target of over 80 per cent occupancy ahead of projections. It is one of three regional centres run by the CEL, part of The University of Manchester, which provides national training programmes for leaders working in the education and public sectors. The £8m second innovation centre at LSP, ic2, due to open in spring 2009 and being built by Neptune Developments, will include 10,000 sq ft of dedicated laboratory space. "It has always been our belief that providing knowledge-based companies with the facilities to grow right in the heart of the city would be key to the regeneration of Liverpool," said operations director Chloe Harding. "As we reach capacity on this building we can now consider the potential of ic2."
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Property
Mind the Gap
The Sanguine Group, the venture set up by ex-Space and Vermont man Paul Bolton and hotel entrepreneur Simon Matthews-Williams, has released its plans for the £7m redevelopment of the Kings Gap hotel in Hoylake. The original house will remain the centerpiece of the new 66-bedroom boutique hotel, which will also include luxury suites, a brasserie and a 100-capacity function room. Subject to planning permission, work is due to start next January.
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Plumbing priorities
Commercial plumbing and heating specialist OMG has become the first occupier to move into Priority Sites' Turnstone Business Park scheme at Widnes Waterfront. The group, which acquired Manchester air conditioning business Atmospheric Products in 2005, has taken 3,000 sq ft and will move from Widnes' Bold Trading Estate.
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Business
The eagle has landed
AIM-listed Eagle-i Telematics, the Runcorn-based technology business, has been awarded a major contract by AXA Assistance, a subsidiary of AXA Group, to supply a range of its vehicle positioning and communication systems to AXA's operations in 13 European countries. The technology will enable AXA to locate the nearest breakdown and recovery vehicle to an incident, dispatch instructions to the driver and provide the customer with a more accurate estimated time of arrival. The same technology will also be adopted to improve response capabilities in AXA Assistance's medical and home assistance businesses.
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Investment plan for Dee Valley
Wrexham-based Dee Valley Group, the water supplier for Wrexham and the surrounding area, has submitted a draft business plan to water industry regulator Ofwat to provide water services for the five-year period starting April 2010. During that period, the company said it plans to invest £38m to ensure it maintains its current levels of service. Following feedback from shareholders, the company will submit a final business plan in April 2009. The plan also proposes increases in the annual average household charge over the period of £6 per year at today's prices.
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Flowcrete's towering success in Dubai
Flowcrete, the Sandbach-headquartered flooring specialist, has secured its largest ever deal - an £8m contract at one of the world's most exclusive skyscraper developments, being built in the United Arab Emirates. The company, which is enjoying strong growth in the Middle East, is to install more than 1 million sq m of its Deckshield car park decking system at the Jumeirah Lakes Towers development in Dubai. Flowcrete was sold by founder Dawn Gibbins, who owned a 54 per cent stake, to US-based RPM International in April. Her husband and business partner, Mark Greaves, stayed on at Flowcrete as group managing director and the company now has 30 offices worldwide.
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Preston Chamber boss quits
The joint chief executive of Preston's Chamber of Trade has resigned from the job after more than two years, citing an unwillingness by some of the city's biggest high street names to join the organisation as a reason for his departure. Nicholas Watson, who shares the role with Richard Sullivan and also runs marketing agency Incito, said that many retailers felt they no longer needed local representation. He will remain in the role for the next two months while a replacement is sought.
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Deals
Co-op to sell off 107 stores
The Co-operative Group is to sell off 107 Somerfield stores, following the acquisition of the Bristol-based grocer for £1.5bn last month. It is reported that Credit Suisse has been appointed to run the sale process and has asked for preliminary proposals from potential bidders to be submitted by 22 August. The deadline for comments to be submitted to the Office of Fair Trading on competition issues arising from the deal passed yesterday. The Somerfield estate comprises 900 outlets, including 140 petrol stations.
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