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IMG_1760.jpgSummary of panel debate:

Chair EG's Damian Wild
Gareth Osborn, director Thames Valley, SEGRO
Allan Gregory, director of surface access, BAA
Ruth Bagley, chief executive, Slough Borough council
Scott Witchalls, partner, Peter Brett Associates
Paul Newman, project sponsor - Reading Station, Network Rail

DW to Tony Travers: If you'd been asked to conduct at airport review what would be your conclusion?

TT common sense would dictate that as Heathrow is already a success but building on that success would be sensible. But people living in the area want something but don't want more of it and that is the problem. Property values under the flight path are quite expensive so that obviously isn't a problem. There is a risk that the campaigning against the expansion will shift the airport to the east. If Heathrow can't be expanded then should be a hub in the east

DW Is WRATH (Western Rail Access to Heathrow) going to solve all the problems?

SW Isn't going to solve all but we have to build ourselves out of these problems. It has significant benefits but we need other infrastructure. Got to plan for rapid housing growth. Having been through the mill to get funding for schemes like Reading Station off the ground but a lot of it depends on who you are asking. Down side is that business doesn't have a vote. It was a vote winner to say we won't expand Heathrow.


TVPF Conference: Ruth Bagley on importance of WRATH and Heathrow

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Ruth Bagley, Chief Exective Slough Borough Council

WRATH (Western Rail Access To Heathrow): Tony Travers mentioned need for collective approach towards infrastructure and planning, this is a small example, which has got sign up from local businesses and communities. It's been a long standing problem. 

I could, wouldn't want to as it's middle of M25, stand on eastern boundary of my borough and stare at the lights at the end of the runway at Heathrow but I can't catch a train or if I do it takes much, much longer than driving. 

We are proposing a rail link from Reading and Slough to Heathrow. It's been adopted by Network Rail and could be open by 2018 and cost is under half a billion. Four trains an hour from Reading via to Slough to Heathrow. Twenty-two minutes from buying tickets at Slough station to checking in.

Return on capital investment in under 10 years is what we predicted in business plan. Area it would benefit is 20% of the UK population. It's about protecting and maintaining a huge part of the UK economy.


Opening address: Tony Travers, director of LSE, London

Ascot gives a feel of what better class of airport might feel like.

Success of west: Heathrow airport and good rail links, good road links and a large accessible labour market. Success has led to success.

Is everything set fare? Thames Valley and greater South East area are fairly successful but other countries that have rapidly expanding cities such as in China and Brasil. Well known city regions like London, New York & Tokyo are going to be challenged and in order to stay competitive are going to have to grow.

No planning is less and less likely to produce success. The Government can't not plan. In Britain what we've tended to do is build infrastructure in response to over crowding rather than to lead development. We follow rather than lead. 


The Bond: Will Southampton agents be able to spy a deal

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The Bond southampton.jpg
Last week Cumberland Commercial launched The Bond in Southampton (£). The 157,000 sq ft office scheme won't go ahead without a prelet. That will surprise few in the marketplace given that agents reckon take up figures will just about hit the 100,000 sq ft by the end of the year, roughly in line with the last two years. But, and it's a big but, that figure will have been boosted by the Aegis deal, the 80,000 sq ft out of town letting.

Without this, well, you can do the sums.

CBRE, who along with Jones Lang LaSalle are agents on the scheme, are confident that an occupier of the likes of a FTSE100 company can be found for the space. It says it is a large amount of space but that is confident it can get a deal of around 100,000 sq ft that will kick start development. Local agents are more reserved with one saying it will be a tall order and another labelling it a struggle. 

Andrew Archibald, director of agency at Kegrove Commercial, said: "The last time Southampton had 100,000 sq ft? I can't remember when that would have been for a new occupier.....History is not on their side but Cumberland Place is the best location in Southampton."

Click below to listen to James Brounger of CBRE; Andrew Archibald at Kegrove Commercial Chartered Surveryors; and Martin Hastelow of Savills give their opinion on the scheme at last Friday's EG Southampton reception.


EG sails into Southampton for annual reception

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Thumbnail image for southampton pic.jpgSometimes work is a grind. Sometimes, just sometimes it looks like this.

The EG autumn reception season kicked off today and the view from the balcony of the Royal Southampton Yacht Club over the marina was quite something.

If you're looking for the EG boat then we decided to park it around the corner.

Check back here next week when we'll have pictures, a report and news from the event looking at how the local market is faring and what agents make of Cumberland Commercial's The Bond scheme launched this week (£). Will they find a prelet? won't they, hear what everyone has to say on the blog next week.

Congratulations to Wrenbridge and Savills, winners of the Estates Gazette South East Property Company and Adviser of the Year awards respectively, writes EG's Damian Wild.

Presented with their awards in the glamorous surrounds of Wentworth golf club in Surrey, Wrenbridge's Jeff Wilson and James Gray and Savills' Paul Atherton and Ed James were all justifiably delighted.

Thankfully, after-dinner speaker, golfer Bernard Gallacher eschewed fatuous links between sport and business

Nevertheless the former Ryder Cup player and captain's tales of on-course behaviour - of both the sporting and unsporting kind - has clear application for corporate life. Only the former exists in property, of course.


Pics: EG goes to Hogwarts, no really we do

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DSCN5332.JPGNearly two years ago American film company Warner Bros. was granted planning permission to build a permanent studio and visitors attraction at Leavesden near Watford where it filmed the blockbuster Harry Potter series. 

Back then when I posted about the decision, I put a tour on my Christmas list - I'm a teeny bit of a Harry Potter fan. Well it's a little bit late for Christmas but on Saturday I got my wish and together with EG's Multimedia Editor Nathan Cross, who is also a fan, we went for preview of what is officially called the Warner Bros Studios Tour London - The Making of Harry Potter.

Everything you see was used in the filming from the letter Harry was sent inviting him to Hogwarts in the first film to the entire street of Diagon Alley. The staff reckon on it taking about three hours to walk through but Nathan and I might have taken a little longer.

Local businesses, no doubt, will be rubbing their hands with glee as ahead of the official opening this Saturday, the tours are pretty much sold out until September. One enterprising local bus company has already got double deckers liveried up to run shuttle services from the station to the attraction.

It's an absolute must for Harry Potter fans - the Butter Beer is worth it alone but you can only book online.http://www.wbstudiotour.co.uk/


EG Berks, Bucks & Oxon Focus synopsis

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Estates Gazette Berkshire, Bucks and Oxon Focus synopsis
Published 10 March 2012

Occupiers 
Analysis of current demand and prospects across the three counties.
Contact:  Mark Simmons, freelance writer, 07787 561 032, msimmons@sourceform.co.uk

Availability
Analysis of the stock situation in the office and industrial sector across the three counties.
Contact: Piers Wehner, freelance writer, 07854 211 717, pierswehner@hotmail.com

Market health check 
If you think you can provide up to date stats (up to end of 2011) for the key centres across the three counties for offices, industrial or retail email Stacey.meadwell@estatesgazette.com

To get more details about the individual features and the specific topics covered please contact the writers direct by Monday 13 February 

EG Surrey, Sussex & Kent Focus 2012 synopsis

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ESTATES GAZETTE SURREY, SUSSEX & KENT FOCUS
Published February 11, 2012
                                                          

Offices: Analysis of market trends,  future performance and activity.
Contact: Adrian Morrison, freelance writer, 07818 013 233, adrian.morrison@addmor.com

Regeneration: Analysis of major projects and their future prospects.
Contact: Helen Hamilton, freelance writer, 07758 833735, bluesomeh@gmail.com

Market health check: If you think you can provide up to date stats for either offices, industrial or retail across all three counties then please get in touch: Stacey.meadwell@estatesgazette.com


To get more details about the individual features and the specific topics covered please contact the writers direct by Monday 16 January

UK town centre winners and losers over last 13 years

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meat.jpgIt's a meaty 100 page report but the National Survey of Local Shopping Centre's and CBRE's new research on changes to shopping catchment populations for comparison goods may cause some indigestion. That is, if you are a developer, agent or local authority that has ever sat back and said: 'Of course that new shopping centre development can only benefit the wider area.'

Planners take note: those benefits always come at a cost. The research, which surveyed actual shopping habits over a period from 1998 to 2009, shows that even though the population of the country has grown overall (it hasn't been consistent across all parts of the UK) the major city centres lost between 0.25% and 3.51% of their comparison spend catchment population.

Glasgow is a good example or bad if you look at it that way. The city centre's catchment population growth was weak compared to other parts of the UK but was weakened further as shoppers chose to go out of town to new shopping centres: Braehead and Silverburn

The extension to the Buchanan Galleries shopping centre, which is by no means a certainty, would help mitigate that loss. However, I can't help thinking back to conversations with Glasgow city council's planners when they'd just given planning permission for Silverburn in which they insisted Glasgow city centre was strong enough to withstand further out of town development. Well they were right but only if you class keeping head above water as wholly positive. 

The key drivers for change in catchment shopper population are new retail, changes in transport/access and underlying population change. Mapping the trends in catchment growth post the opening of a new scheme shows that growth continues for several years after opening. 

It means that city centres like Liverpool, where Liverpool One opened in 2008, has yet to reap the benefit of a fully increased catchment. Likewise Bristol city centre and Cabot Circus. There is, however, a threshold. Once a town centre has a full range of retail on offer and there is no further new development, growth in shopper numbers reaches a plateau.

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