Boss of firm behind £100m shopping park praises philanthropist
THE boss of the company behind a £100m creation of the biggest shopping park in the Liverpool City Region has hailed its late founder who pledged half the firm’s profits to charity.
Derwent Group managing director David Lyons described it as an “honour and a privilege” to be working in the company launched in the 1980s by Kwik Save and Total Fitness entrepreneur and philanthropist Albert Gubay.
Lyons was speaking to TheBusinessDesk as The Derwent Group is embarking on almost one million sq ft Liverpool Shopping Park development at Edge Lane, on the main route into the city from the M62.
Described as “the final piece of Liverpool’s retail puzzle”, the new scheme will transform the site into a thriving fashion and lifestyle-led retail development, also delivering 3,000 jobs.
It will be one of eight retail zones in the Douglas, Isle of Man-headquartered Derwent Group’s extensive portfolio. The others are White City Retail Park in Manchester, Walkden Town Centre and Walkden Retail Park in Salford, Junction One at Bidston Moss on the Wirral, Wavertree Retail Park in Wavertree, Junction Nine at Warrington, Kilner Way in Sheffield and Anlaby Retail Park in Hull.
The group’s three million sq ft portfolio also includes 300,000sq ft of industrial property, 400,000sq ft of offices, 1.7 million sq ft of retail and 500,000sq ft of leisure.
Lyons, who was recruited as managing director of Derwent Group by Gubay five years ago, described the Wales-born entrepreneur who had an Irish mother and an Iraqi father as a “property developer with retail eyes”.
Famously, earlier in his life Gubay made a “pact with God” when he was undergoing financial trouble, saying that if was helped out of the mire he would donate half his profits to charity.
The Albert Gubay Charitable Foundation was formed and when Gubay died aged 87 on January 5 2016 his pledge was activated.
The Derwent Group of property companies is now owned by the charity is currently estimated to be worth about £700m. Initial donations from the charity are estimated to be £10m a year.
“It’s an honour and a privilege to be working in property, but to have the happy coincidence to have half the money generated going to charity is special,” said Irishman Lyons.
Lyons is based in the Isle of Man but he is currently spending quite a lot of time at the Edge Lane site, part of which was the birth place of the Meccano company.
Caddick Construction is now in the early stages of carrying out the work which begins with the creation of 92,500sq ft of retail space known as the Western quarter.
This includes an anchor tenant unit fronting on to Edge Lane and the first leg of a distinctive horseshoe-shaped run of retail units.
“This is a transformative project and the final piece of Liverpool’s retail puzzle,” said Lyons.
“Liverpool Shopping Park will bring branded fashion retailers, restaurants and leisure operators together in an out-of-town location, complete with plenty of free parking and great access in and out of the city.
“This a sizeable and strategic investment for The Derwent Group and it will deliver much needed regeneration and jobs in this part of the city.”
As well as working with Caddick, Derwent is also working with Manchester-based architects AEW at Edge Lane. Walsh Goodfellow are the engineers.
Key people in the Derwent Estates include chartered surveyors, ex-Peel Man Property Director Jonathan Black, Senior Property Manager Peter Gilliland, leasing and lettings specialist Jim Maule-Ffinch, building surveyor Leanne Elkin who heads up its project delivery, quantity surveyor Barry Lewis, and marketing manager Michelle Atack.
