Bernstein to lead big investment pitch at MIPIM UK

MANCHESTER City Council chief executive Sir Howard Bernstein is make a keynote speech at the UK’s biggest real estate conference in October.

He will lead a group  of influential representatives from the North MIPIM UK bidding for investment in its big city regions.

Joining Bernstein will be Liverpool City Council chief executive Ged Fitzgerald as the two cities combine to showcase new investment opportunities to representatives of real estate and regeneration at the show which takes place at London’s Olympia.

Bernstein’s speech on UK Cities and Devolution will take place on October 20 as part of an afternoon exploring the importance of the North in terms of the economic development in the UK.

“MIPIM is the first major real estate event since the EU referendum and I’m looking forward to reinforcing the importance of Manchester and the north to the UK economy,” said Bernstein. “The event will be a great opportunity to discover the diverse investment and development opportunities the north has to offer.”

Manchester has enjoyed a surge of interest from domestic institutional investors in recent years, with more than £8bn of investment in commercial real estate between 2006 and September 2015.

A focus on long term investment is demonstrated in schemes such as 1 Spinningfields Square, acquired by M&G Real Estate for £318.39m and MediaCityUK at Salford Quays, where Legal & General acquired a 50% stake for £251.5m.

In turn this has led to interest from international investors, with AEW’s purchase of 101 Barbirolli Square in Manchester being a primary example. The opening of the new Graphene Centre at Manchester University in early 2015 has also helped to place the city on the map in terms of collaboration between science and business.

Liverpool has enjoyed a transformational multi-billion pound economic regeneration in the last 20 years. There has been more than £2bn of investment in commercial real estate between 2006 and September 2015.

The city is ever more attractive to investors, with access to six million customers, an economy worth more than £121bn and 252,000 businesses.

Further strengthening the north’s presence at MIPIM UK will be Leeds City Region. Between 2006 and September 2015, Leeds enjoyed more than £3.5bn of investment in commercial real estate, with a diverse mix of retail, office and industrial as well as leisure and hotels.
 
Leeds is attracting a greater number of visitors each year and with the launch of Trinity Leeds in 2013 has seen further growth in retail, most recently with Hammerson’s much anticipated £165m Victoria Gate – a retail, dining and leisure development.
 
According to a report published in March 2016 by CBRE in partnership with UKTI, overseas investment in UK regions outside London is at its highest since 2007, with almost £3.5bn of real estate assets purchased in 2015 alone. This is more than double the amount invested by foreign capital in 2013 (just £1.4bn of stock).

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