Property Focus: The Interview – James Flynn

What are your views of the current state of the commercial property and property development markets?

The development market is very subdued, and this is down to the lack of available funding options more than anything else.  There are still some good opportunities for development in retail, care, student accommodation, hotel, higher end housing and social housing and these are the sectors that Heatons is concentrating on.

However, the lack of funding means that private money is pretty much essential to make any scheme work.

The city centre residential and office markets will be interesting over the next few years as demand is likely to outweigh supply due to the lack of recent activity.  This may well tempt developers and funders back into these markets, and some canny operators are securing good sites now.

What key challenges and pieces of legislation do you think will most affect your sector over the coming months?

Obviously, the spending review has been watched closely by the construction and property industry.  Public projects have helped to keep the bigger main contractors busy, but clearly there will be less of this work around and the big contractors and subcontractors will need to adjust to this.

Building Regulations and the Code for Sustainable Homes will also have an impact on build costs over the next few years.  However, on the positive side, we have seen how the Feed in Tariff is helping to create some opportunity.  The construction industry is also looking closely at the amendments to the Construction Act and when these will finally be implemented. 

Why do you think the North West is a good place to do business?

I am a born and bred Mancunian so I feel very comfortable dealing with people from this part of the world.  The infrastructure is very good and there is opportunity everywhere. 

What is your favourite building/development in the North West and why?

Apart from Old Trafford, probably the Urbis building in Manchester, but a special mention needs to go to Liverpool One which I thought was a brilliant development.

If you could change anything about the North West what would it be?

Move it to the South of France.

What was your first job and how did you enter your current line of work?

Working for the family construction company in the school holidays.  Making brews and digging holes is the natural starting point for any construction lawyer.

What do you most enjoy about your work?

I enjoy nearly everything about my job, but it is always a great feeling when a deal completes or a case is won.  Having a happy client is a good feeling.

What barriers have you faced during your career and how have you overcome them?

The biggest barrier to lawyers is actually getting on the first rung of the ladder and securing a training contract, and this is true now more than ever.  For me, a family contact (who happened to be a priest) helped out with this, so perhaps it was divine intervention.  After that I don’t think there are any barriers to anyone in our profession if you work hard.

What is the best piece of advice you’ve ever been given?

I got talked into doing my Legal Practice Course one night when I was 21. I’m not sure what the alternative would have been.

And the worst?
“One for the road”.