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Housing promises, but can the infrastructure support it?

Merseyside is set to benefit from a housing boost following the announcement of government measures designed to alleviate current market challenges. Halton, St Helens and Warrington together with Mersey Heartlands - which includes developer Peel's Wirral Waters scheme - have been identified as “growth points” for extra housing, with a total of 30,000 units planned for the North West. Identified areas will receive part of a national pot of £100m to fund infrastructure, including schools, health facilities and parks. Gerard Hughes, planning, development and regeneration partner at GVA Grimley in Manchester, told Insider: “It's good the North West has done the best out of all of the regions with the number of bids that have made it through. But the issue is whether the region can sustain the amount of new development in terms of the infrastructure needed to support it.” Other areas identified in the announcement include Greater Manchester, Carlisle, Central Lancashire and Blackpool, and West Cheshire.

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Property
It's a beautiful Vale
Despite ongoing gloom in the retail market about consumer spending, the Belle Vale shopping centre in south-east Liverpool has signed up two new retail lettings. Fashion clothing and accessories chain New Look has signed up to take 7,642 sq ft of a new 15,500 sq ft extension for ten years. New Look is due to open in early 2009, following completion of development works. And food retailer Subway has also taken a ten-year lease, on 710 sq ft of accommodation at a rent equivalent to £13,000 per annum. Agencies DTZ and Jones Lang LaSalle acted on behalf of Frogmore Real Estate Partners.
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Liverpool Homes 4 Less
Liverpool-based property firm Venmore is teaming up with Turkish Homes 4 Less, the Liverpool and Belfast property agent, to help it market its auction catalogue, commercial properties and overseas portfolio in Northern Ireland. Irish investors have always been at the front of the queue for investment in the city, snapping up large swathes of off-plan apartments as the market boomed. Venmore believes that canny investors can still get great value for money in the city region as the wider UK market founders.
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Bootle letting at refurbished property
The former TSB IT Centre on Bridle Way in Bootle has been let to Assist Support Services Group, provider of support and infrastructure services to the public and private sectors. Agency Knight Frank acted on behalf of Sebel House Group in the deal, which sees the new tenant occupying a 1,393 sq property that has undergone extensive refurbishment to provide both office and warehouse accommodation after standing empty for nearly two years.
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CTP looks for a resi remix in Lancaster

CTP, which along with Development Securities is behind the Luneside East regeneration scheme in Lancaster, has spoken to Insider following the departure of David McLean from the project. Managing director Guy Illingworth said: “McLean had agreed a transaction to buy the residential land, but unfortunately this has fallen out of bed. The deal was conditional on us remediating the site, which will take around 12 months - we are still pursuing this. McLean’s scheme was apartment dominated and we will look at a greater mix of family housing and apartments when progressing dialogue with residential partners at a time when market conditions should have improved."


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Business
Assembly under any other name
The North West Regional Assembly was effectively relaunched this week as 4NW - For Northwest - in a last-ditch attempt to avoid abolition by this government and the Conservatives. The Wigan-based quango was supposed to monitor the strategy of the Northwest Regional Development Agency and oversee policy in key areas such as housing. However, it has been hampered by poor private sector involvement and the inexorable move towards power concentrated in the city regions such as Greater Manchester and Liverpool. 4NW is described as a new leaders' forum and partnership body for regional stakeholders and will continue some elements of its predecessor, the assembly.
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Hope brings hope to students
A new report out today reveals that Liverpool Hope University is one of the top universities in the country for graduate employment rates. The report from the Higher Education Statistics Agency on employment rates among graduates from full-time courses in 2006/7 showed that the university was one of the best in the country with 97.3 per cent of graduates finding employment within a year of graduation. The Universities of Liverpool and Manchester recorded 96.4 per cent and 93.6 per cent respectively and Hope was the highest ranking non-specialist college or university in England for graduate employment, beating Oxford, Cambridge and UCL. The results put Hope ninth in England and 13th in the UK for graduate employment.
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Deals
Peel builds Pinewood holding
MediaCity developer Peel Holdings has again increased its stake in Pinewood Shepperton through its Goodweather Investment Management company, as analysts rumour that Peel owner John Whittaker is preparing a bid for the Slough-based studio owner. It now holds 21.76 per cent of the total voting rights after initially building its stake from 10.91 per cent to 20.25 per cent in March.
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Down at the deli
Lancashire County Council's funding spin-off, Rosebud Finance, has pumped start-up finance into Leyland delicatessen The Lancashire Deli at a time when demand for local produce is high on the consumer agenda. Councillor Niki Penney, chairman of Lancashire County Developments, which runs Rosebud Finance, said: "People are now very serious about their food and rightly so. There is a great desire for local food and a heightened awareness of local identity." Rosebud Finance was established in 1986 and provides loans and equity funding from £5,000 to £750,000.
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