Property Focus: The Interview – Ken Bishop

IN our series of interviews with top professionals from across the property sector, TheBusinessDesk catches up with Ken Bishop, office agency director for DTZ in Manchester.

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

We are now two years into a global recession but occupational demand is surprisingly robust, particularly for the better quality stock.  Poorer buildings are finding life more difficult partly due to the incentives available on the best Grade A developments/major refurbishments which makes little economic sense to take older, less efficient, buildings.

The major challenge facing the industry is the need to continue the supply of new development.  The peak in development supply over the last three years will have largely worked its way through by mid 2012 and given a two year lead-in period, it can be seen that a shortage of supply is looming on the horizon.

This is a fundamental issue for Manchester city centre which has, in recent years, been highly successful in attracting inward investors partly due to the supply of good quality stock.

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

Financial liquidity is the key challenge currently likely to affect the sector for 2010.  This has been a problem for the last two years though there are early signs of some improvement. 

The piece of legislation most in need of repeal is that on Empty Property Rates (EPR).  The impact of EPR has been exacerbated by the recession and now the 2010 Rating Revaluation which has increased the rateable values in the most active locations. 

The Government’s aspirations on EPR were well motivated, though misguided and has inadvertently created a massive problem for the sector to the extent that they have both a negative impact on economic recovery and present another impediment to new development.

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

The North West is the best place to work in the UK due to a combination of the people and its great “can do” attitude to business.

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

Building – Rylands Library.  Attractive architecture externally and internally the Reading Room is superb. 

Development – Civil Justice Centre, Manchester. A clever mechanical and electrical solution for a highly sustainable building and iconic architecture. A real statement of confidence for Manchester. 

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

Like many areas, traffic congestion is a major impediment.  A combination of an affordable and effective public transport network, together with a reduction in the number of cars on the road, is essential for both the quality of life and future sustainability.

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

My first jobs, during summer holidays etc, ranged from window cleaning, construction work and furniture removal.

I arrived in Manchester after six years of working for three local authorities in other parts of the country to take on a job in the management department. 

Fortunately my ineptitude in this field was quickly realised by clients and the firm (Bernard Thorpe at that time), quickly asked me to change roles and start an office agency and development department. A very lucky break.

What do you most enjoy about your job?

As someone with a low boredom threshold the variety and the fact that property is a fast changing industry is important. 

However, the single most satisfying aspect is the ability to be creative when advising on new developments. 

I also find the opportunity to be involved in the regeneration of the North West particularly satisfying and rewarding. 

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

Effectively having been my own boss for the last 30 years, barriers have been more to do with overcoming the shortcomings of my personality. 

Business generally and commercial property agency in particular is a school of hard knocks and great for personal development.

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

Expand the comfort zone. It is surprising what can be achieved once you step beyond your area of comfort.

And the worst?

Don’t argue with the man driving the Rolls Royce!