Property Focus: The Interview – David Lathwood
What are your views on the current state of the commercial property and property development market?
The North West market has proven to be incredibly resilient to the economic downturn and currently I would describe it as ‘slowly emerging’. There is a shortage of good quality stock which has been taken up by a barely diminished demand function over the last 18 months with no re-supply coming from the development sector. A loosening in the availability of development finance over the next year or two should see the stock start to be replenished. In the meantime it will be steady but unexciting.
What key challenges and pieces of legislation do you think will most affect your sector over the coming months?
The spending review and its impact on the public sector will inevitably be the main challenge for the regional market. The break-up and dismantling of the URCs and regeneration bodies will slow down and in some cases extinguish major projects which will have a detrimental effect on the property sector.
Why do you think the North West is a good place to work?
As a native of the North West, my view is a little biased, but whilst the area does not have the range of opportunities provided by the capital, we have significant advantages in terms of environment, housing stock, entertainment and transport over most parts of the UK. I travel to every corner of the UK in my job and I can honestly say that the North West compares favourably to all of the UK regions.
What is your favourite building in the North West and why?
Architecturally, you would have to say Manchester Town Hall, the Liver Building, the Central Library in Manchester or even St Francis Monastery in Gorton. Overall favourite, however, is the City of Manchester Stadium – superbly designed and a place that always gives me great joy!
If you could improve anything in the region what would it be?
Traversing the region’s motorway network has become increasingly difficult and the rush hour has extended at either end of the day by at least an hour. If I could change anything it would be this. I actually think the congestion charge was a good idea on the basis it would be reinvested in public transport and initiate reduced traffic on the roads by a significant amount – it would definitely get my vote.
What was your first job and how did you enter your current line of work?
My first job was a graduate at Smith Melzack in London West End, dealing largely with agency- orientated work. I eventually moved on to office agency and development work in London with Russell Cash. I moved back to Manchester, which is my home town, in 1986 dealing largely with agency-orientated work but eventually old agents turn into development surveyors and that happened to me about ten years ago.
What do you most enjoy about your job?
The people – most of us in the firm have grown up together and are friends as well as work colleagues. The same goes for our clients. We have generally known each other for a very long time and these are relationships which I value highly and would miss enormously if I wasn’t in the business.
What barriers have you faced during your career and how have you overcome them?
I think I have been lucky in this respect because I really cannot think of anything of any significance. King Sturge is a very ‘broad church’ and being a northerner with a comprehensive school education does not seem to have held me back!
What is the best piece of advice that you have ever been given?
Tough question! – I’ve been fortunate enough to receive lots of good advice in my life but the one that has served me best came from my Dad when I was a teenager. It was ‘be decisive, don’t dither’.
And the worst?
An even tougher question! Probably advice from a Manchester-based lawyer in March 2000 to invest in a new dot.com company. The technology bubble burst a month later. The only consolation was that a large number of the Manchester property fraternity also got caught with this one!
