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Top Story
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Property verdict: positive but realistic
We’re at the end of Insider’s Property Week, our events programme that culminated in last night’s Property Awards, where George Downing, the chairman of Liverpool-headquartered developer Downing, was crowned Property Personality of the Year. Asked by host Jimmy Carr for the highlight of his career, Downing said: “The Capital deal is the highlight. We’ve been able to keep a lot of jobs for Liverpool and we’re very proud about that.” In his final blog of the week, Insider’s Neil Tague takes a look at the key themes that emerged from the week’s events. “What sort of shape is the market in? Those at the deals end say it’s gone quiet after a booming first quarter, but others say things have continued to gather pace. Mostly, it’s a case of ‘positive but realistic’.” Click here to read more from Neil or here to see pictures from last night’s event. There's also a full write up of yesterday's Business of Property Conference here.
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Deals
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Capgemini buys remaining SSS stake
Liverpool-headquartered IT services business Strategic Systems Solutions (SSS) has been bought by French-owned technology consultancy Capgemini for an undisclosed sum. Capgemini owned 49 per cent of SSS prior to the acquisition and will now integrate the company with its capital markets unit. The deal is expected to strengthen Capgemini’s offering in the Asia-Pacific region thanks to SSS’s presence in Singapore, China and the Philippines. Owen Weeks, chief executive of SSS, said the business would benefit from Capgemini’s strength and brand recognition. For Insider comment, click here.
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Stockport County bought
Stockport County FC has been bought out of administration. The 2015 Group, a consortium of Cheshire businesses, entrepreneurs and fans, has bought both the club and its Edgeley Park ground. Sean Connolly of the 2015 Group said that although the club has been through a difficult period, the deal would provide “the players, the fans and the owners with a clean sheet and new start”. The club entered administration in April 2009 with reported debts of approximately £300,000. For Insider comment click here.
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Business
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Seven NW winners at entrepreneur awards
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Projects escape spending review
Three North West schemes, worth more than £650m, are set to go ahead after escaping the government’s latest spending cuts announced yesterday. The £451m Royal Liverpool hospital, £170m Metrolink extension in Manchester, and the £38.9m deal to buy Blackpool Tower and Winter Gardens will progress as planned. The Greater Manchester Chamber’s Richard Critchley said the Metrolink decision was a “huge relief”, while the Royal Liverpool’s chief executive Tony Bell said the decision paved the way for a state-of-the-art hospital to “change the face of healthcare in Liverpool”.
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Contracts flow at Waterfall
Warrington catering business Waterfall Services has announced a 36 per cent increase in turnover to £38m following a string of new contract wins. The business, which is the parent company of education caterer Taylor Shaw and care and welfare specialist Caterplus, has won deals with Durham County Council and care organisation Jewish Care over the past year. The group employs 2,400 staff and is forecasting a turnover of £45m in the current financial year. Underlying pre-tax profits last year were £2.28m.
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North West businesses power to awards success
Businesses from across the North West were last night recognised in the inaugural Energy Innovation Awards, held in the Hilton Deansgate in Manchester. Merseyside’s E-Energy Enterprise won the Grand Prix, while Arago Technology, a joint venture between the University of Manchester and EPL Composite Solutions, was commended for the prize. Arago also won the Existing Performance Improvement Award. Furlong Innovations won the Consumer Benefit Award, while Manchester property lettings company Beech Properties was awarded a commendation in the category.
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CheethamJackson launches in Chorley
A new chartered financial planning business has been launched in Chorley. CheethamJackson has been founded by former Edward Jones employees Stuart Jackson and Alan Cheetham. The company will offer a range of financial planning services, including wealth management, stockbroking, pensions, tax efficient investments, ISAs and inheritance tax planning. Chorley MP Lindsay Hoyle will officially launch the business today.
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Manchester Visitor Information centre opened by Leese
Manchester’s Visitor Information Centre was officially opened today by Sir Richard Leese, the leader of Manchester City Council. Leese addressed the question of spending in the current climate. He said: “I don’t think we can afford not to invest in this. We need to continue to grow the tourism industry, we need to increase the number of visitors and we need to increase the number of jobs.” The centre, on the corner of Portland Street and Parker Street, represents an investment of more than £800,000 by the Manchester City Council and the Northwest Regional Development Agency.
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Property
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To submit your property to Commercial Property Finder click here
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Savills reports better outlook for Manchester
Although the overall outlook is for 2010 and 2011 to look much like 2009, property consultancy Savills, touring the regions with its Financing Property study this week, said that Manchester is better placed than comparable cities. The firm’s Mat Oakley said: “Global investors love a risk-averse Britain – if you can get them to look beyond London, and Manchester, along with Edinburgh, can do that – there are opportunities.” For Neil Tague’s report on the Manchester session, click here.
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Colliers hits hiring streak
Colliers International’s Manchester office has swooped on Lambert Smith Hampton to hire Andrew Delaney as director of development solutions, with particular focus on regeneration projects. The firm has also hired business recovery expert Richard Crompton from PricewaterhouseCoopers, who will advise businesses, banks and other institutions on underperforming property loans. It is the Manchester office’s first venture into the restructuring advice market.
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CBRE brings two to Trafford
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The Rock signs up Miller Homes
The Bury development The Rock has appointed Miller Homes to deliver the first two blocks of residential accommodation at the 620,000 sq ft site. The Rock comprises of 408 one and two-bedroom apartments situated above the retail element of the scheme. Miller has begun to fit out the apartments and the first phase will be released for sale on 16 July. The retail and leisure element of the development, which is almost 80 per cent let, will also open on the same day.
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Something for the weekend
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Football crazy
Cripes. The Chartered Management Institute reckons that up to 40 per cent of employees could take unauthorised time off work to watch World Cup matches. Not all at once, you’d hope. Meanwhile David Pickering, divorce partner at law firm DWF, says that previous tournaments have led to a surge in divorces, saying: “Football fans become glued to their TVs and they become oblivious to everything going on around them.” Apparently. What time does Germany-Serbia kick off?
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How spoon is now?
Ugh. New research from the Labour Research Department says that many British workers are suffering because of inadequate toilet facilities and restrictive toilet break rules. In one call centre, unfortunately not named and shamed, anyone “paying a visit” is handed a wooden spoon, in the style of a downmarket gastropub food order. If someone else on the team already has the spoon, everyone else has to cross their legs and hope they hurry up. Revolutions have started over less, quite frankly.
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