Property Focus: The Interview – Charles Ardern

IN our series of interviews with top professionals from across the property sector, TheBusinessDesk catches up with Charles Ardern, head of the Liverpool office for Knight Frank.

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

The prime investment market continues to demonstrate reasonable levels of activity with demand emanating from the funds and cash rich individuals, but the product spectrum is limited. Where the market will go if the prime yields get too fruity is the big question.

The development market continues to be severely restricted by the lack of bank funding which is limiting development activity. There are signs in the market that certain institutions are starting to consider funding specific low risk schemes with lengthy pre-lets with guaranteed rental kickers to quality occupiers.

However, there is still a long way to go before activity levels can be deemed as anything like normal and the banks getting back to some level of new lending will be the key driver.

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

The sooner we get the election out of the way the better.

Ireland’s National Asset Management Agency (NAMA) will have a positive effect on the UK property market enabling the Irish banks to manage existing debt and in turn get back some level of new lending.

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

The healthy competition that exists between two great cities and the straight talking individuals!

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

Liverpool One; it has provided the appropriate level and quality of retail for the city through innovative and award winning development.

I wonder if this type and scale of retail development will ever be repeated in a UK city?

If you could improve anything in the region, what would it be?

Infrastructure in and around Liverpool and Manchester is not at the level and quality deserving of the cities.

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

Drilling boreholes and doing gas testing for a site investigation company. I quickly realised that I needed to get some qualifications if I didn’t want to stand in the middle of a field drilling in all types of weather for the rest of my life!

What do you most enjoy about your job?

I enjoy the variety and the challenge of working in a profession where no two jobs are the same, and working for a firm that enables and pushes individuals to better themselves.

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

Working for a boss that took all the glory. Resigned.

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

There are two: don’t take anything for granted, and free dinners don’t exist.

And the worst?

These shares can only go one way…