Property Focus: The Interview – Peter Williams
IN our series of interviews with top professionals from across the property sector, TheBusinessDesk catches up with Peter Williams, partner in the commercial property team at Davies Arnold Cooper in Manchester.
What are your views of the current state of the commercial property and property development markets?
I am cautiously optimistic that 2010/11 will be a period of growth in commercial property investment and development. There is much more talk and a growing number of deals coming through.
The days of spec commercial development are long gone and during 2009/10 we have seen the creation of two markets, the super prime/prime and the rest. One market has been very strong, the other virtually non-existent.
The key question now is whether the tightening yields will mean that investors look outside of prime.
There are good margins to be made and an opportunity for such lenders to work with the best operators who have survived the downturn.
What key challenges and pieces of legislation do you think will most affect your sector over the coming months?
Confidence and the availability of funding will remain crucial in the corporate and property markets.
Why do you think the North West is a good place to work?
I’ve worked in other regions and the North West stands out the leading progressive region and consequently it’s an excellent place to do business.
We have the great cities of Manchester and Liverpool of course offering a superb work/life balance.
Then there’s the football teams… just look how many Premiership teams we have in our region!
What is your favourite building in the North West and why?
60 Fountain Street, Manchester, it’s a hub of business activity!
Other than that, I’m sticking to my roots and saying Blackpool Tower. I like Beatham Tower too though – another great landmark.
If you could improve anything in the region, what would it be?
Better rolling stock on local train lines would be nice.
What was your first job and how did you enter your current line of work?
I was a Blackpool Deckie. I spent my summers hiring out deckchairs on the Prom. It was a great job when the sun shined and we got paid for sitting at home when it rained.
What do you most enjoy about your job?
I really enjoy meeting new contacts and exploring ways of doing business together. We have got a great team here as well.
What barriers have you faced during your career and how have you overcome them?
I moved from working in the Leeds/Yorkshire market to the North West Market in 2006 and have worked hard to get to know the market and the personalities and businesses in it.
What is the best piece of advice you’ve ever been given?
That moving to Manchester would be a good career move.
And the worst?
Don’t move to Manchester!
