I know you'll all be very pleased to hear that EG special correspondent Lil Houghton has not torn her Achilles, but does have a nasty build up of liquid on the tendon. And after a week or so should be back on her bike. Fancy another trip down to Cannes anyone? I'm in if anyone else is...
March 2010 Archives
Well, three days in and the Manchester and Salford City Regions contingent have their tails up like never before.
Daily presentations on the Manchester stand, which have been packed with audiences hearing about the compelling attractions of relocating and investing in the conurbation, are about to wind up with Sir Howard's and Eddie Smith's jaw-dropping proposals for New East Manchester.
The relaxed mood that permeates the sun-drenched Croisette belies the focused and determined desire to develop 'Brand Manchester' and continue the renaissance of the city and its environs, which are quite the envy of the other UK regions represented here in Cannes.
As a complete MIPIM novice, I had scant idea of what to expect - especially since everyone kept kept saying it was not going to be the "Mipim of big announcements". But for a Mipim of "not big announcements", there certainly seems to me to have been a lot of things being announced.
The catalogue of schemes being showcased from across Europe shows a number of key schemes across particularly Eastern Europe getting under way, and in the UK the local authorities are still here in force on the outlook for people to carry through their dreams of development - Invest in Nottingham still even has a yacht and Manchester seems to have taken over the entire second floor of the Palais. The likes of Birmingham , Croydon and the Wirral have still been announcing new schemes and promoting new schemes.
The bunker is packed with stalls and yes, there are still lots of girls in outrageous outfits, "promoting" their country/ company - it's funny how many times male property figures seem to have to "take a shortcut" through the Russian tent, where there are some lovely looking ladies dressed in red satin. Someone is running round dressed as a squirrel and I can't figure out why (or catch up with... him? her?). And Caffe Roma is still packed and still expensive. So overall Cannes seems pretty packed and geared up to me. Nonetheless, people still stop and stare wistfully into the distance when I ask about Mipims of yesteryear, the yachts, the decadence, the parties, the raves, the champagne and the caviar.
In a show this year of making Mipim 2010 all work and no play, the London Mayor even refused to be filmed with the sea in the background, everyone is in their suits all the time, and agents have cancelled parties left right and centre to show that it's not just a jolly in the French Riviera.
But it's still the parties that everyone wants to talk about.
Got to see representatives from the cities of Manchester and Leeds standing shoulder to shoulder at a breakfast presentation and it wasn't to see who could nab the last croissant. Manchester's Sir Howard Bernstein and Jean Dent, director of development at Leeds City council were there to extol the virtues of working together as city regions.
But don't worry, a bit of champagne in the sunshine hasn't completely killed off old rivalries. Bernstein said: "There will be occasions where Leeds and Manchester have to compete."
• Peter Bill, late of this parish, is finding 2010 to be like the MIPIMs of old
• And Lisa spots an interesting factoid from a MIPIM announcement by Advantage West Midlands
Thirty-two billion pounds of property debt to refinance in the UK in 2010? Pah, forget about it, small beer, there's an average of €155bn of debt to roll over per year for the next three years, according to CBRE's European Commercial Real Estate Debt ViewPoint. And with many banks having lent across borders during the boom years, the problem can't be viewed on a parochial basis.
Loans needing to be refinanced in Poland have an effect on the UK market, if the capital needed to roll them is then unavailable for UK borrowers. Savills might have pointed to an increased number of lenders looking at the UK market, but general reduced levels of liquidity will persist across the Continent for several years yet.
Of the €970bn of debt secured against European real estate, €207bn is severely distressed according to CBRE. Secured against secondary property and at high levels of leverage, this debt is seriously underwater.
Regulators last week warned that banks are likely to face continued stress due to losses on commercial property loans, and it is this €207bn slug that will cause the problems. CBRE said that banks are unlikely to instigate masses of forced sales, largely as a result of government intervention.
Good news if you're a borrower trying to hang on to your assets. Bad news if you're one of the players outlined in another CBRE report, their investor survey, that thinks 2010 is the ideal time to buy.
MIPIM week is always a bit of a weird week for those of us left manning the home desks. Property bods say they've either got their heads down while the phones are quiet and everyone is away (although increasingly that's not been the case) or it's been used as a big excuse for long boozy lunches (after all that's what they're all doing out in Cannes - non?)
But there's also the big "not at MIPIM" bashes. Unsurprisingly, Drivers Jonas Deloitte is holding one of the most extravagant NICE (Not in Cannes Event).
Feels like people have got more to say compared to last year and while there aren't the big development announcements of the boom years, there is definitely a shuffling of position in readiness for a more positive market upswing.
First impressions of mipim? The sun is not really out yet, the Croisette is not really buzzing, and you have to show your badge a hell of a lot more often. I wonder why that could be?
Worried about a lack of development in London? Then the model on the London stand should help put your mind at rest.
From Nine Elms to Stratford there's evidence of plenty of activity and, as the picture shows, several beacons of light.
Odd then to be interviewing Boris later on the Paris stand....
So today was a toughy. Lots of big hills - including a 400m climb. Hard work, but we all made it to the top, pretty much in one piece. And although the climbs were hard, the views from the top were amazing. Just a shame there is no time to stop en route and enjoy a cold beer in the glorious sunshine that appeared today.
And that arrival of sunshine meant that some of the boys got their legs out, which in some cases was a very welcome distraction for us girls!
Tomorrow is the final push into Cannes and although we are all a bit battered - including EG special correspondent Lil Houghton who has made a mess of her Achillies tendon by cycling so well and hard - it looks like we are going to make it to the finish line.
And this year more than a dozen riders will have done the full 1,500km. Phenomenal.
See you at the finish line.
- Tim Garratt of Innes England is trying to get his head around wearing a pink shirt, for the greater good of Nottingham, of course.
- Graham Downie of a Little Drop of Cognac notes, quite accurately I think, that this is likely to be the year for social media marketing at MIPIM.
- And apparently, Manchester's going to be unmissable this year:
So I had told myself that I was going to take it easy today what with it being a Sunday and all. Was planning to do one on, on off - just three out of the five stages. But that didn't last long, once the sun came out I thought to myself, ah I might as well stay on now. So I ended up cycling 50km, having a rest and then cycling 160km. Most of it was quite fun. Until the final 60km, which included four very long, very steep and (for me at least) very slow and painful hills. But we made it. And after a hot shower and a liberal application of some Deep Heat all is well.
Highlights of today included the sun coming out, the non-guilt choffing of two packets of crisps and about 15 chocolate bars - including the best biscuit Boost ever (thanks Lil!). And although I didn't really enjoy the hills, making it to the top of all four was pretty spectacular. As were the views.
Lowlights of the day included being at the bottom of the hills looking up and wishing for a better bike (sorry bike, I do love you really but you pale in comparison to pretty much every other bike out here) and discovering a very French toilet at the lunch break...I hope I need not explain!
So two more days to go and, for me, 300km to fit in to reach my 1,000km target. Unfortunately it now starts to get very, very hilly as we cross the mountains before we are able to make our descent into Cannes - where it has now been confirmed that Boris will greet us when we arrive.
Another day, another 190km in the saddle for me. And lots of hills today. But we made it. Another 4am wake up call and this time, Invest in Nottingham were on the first leg of the day. So after a quick breakfast we donned our Day-Glo jackets, switched on our lights and at 6am set out into the dark and cold French countryside. But it was worth it once the sun came up. We whizzed through beautiful French villages and towns, including Champagne. No stopping for bubbles unfortunately, but hopefully there will be plenty of those once we reach Cannes - hint hint. Although beautiful, the French villages we pass through are distinctly empty. Although today we did find one coffee shop open and in at one of our change overs were greeted by the former mayoress and fed hot drinks and cakes. Perfect.
Highlights of the day again included the motorcyclist escorts' taste in music. A bit of Cotton Eyed Joe today....
Lowlights, one of the motorcyclists hitting a fox, cutting off its tail and tying it to his bike. Gross...
Might take it a little easier tomorrow as struggled up some of the hills today. Legs could turn, but not quite as fast as everyone else's! 500km in the bag though. Half way to my target.
6,000 calories burned for me today. Bring on dinner.
This is going to be short and not very sweet as it's late - we only got to the hotel at 8ish and I am typing this as we eat dinner.
Anyway, the day started very, very early. A 4.45am wake up call - that's 3.45 UK time, otherwise known as the middle of the night. After pulling the Lycra back on and wolfing down a quick breakfast (making sure to snaffle a few croissants for later in the day) it was time for Team Modular Lighting to set off. They took off at 6am, dressed in high vis jackets with their lights blazing. The team was joined by a handful of other hardy cyclists that plan on riding the whole distance - I wasn't one of them!
But at 8 o'clock I jumped on the bike and put in 4 hours and close to 100k. After a lunch that comprised a good French cheese sandwich for me and tuna baguettes for the meat eaters and some amazing giant profiterole type things filled with custard and a stint on the bus it was time to jump back on the bike to put in a final four hours on the bike.
220k later and 8,000 calories burned we reached the hotel. And not a moment too soon.
Highlights of the day. Beautiful French countryside, Abba and It's a Kind of Magic being played by our motorcycle escorts (in French) and the application of deep heat after a very hot shower.
Low lights - the way most of us looked when we finished the day.
So day one's ride is over. A relatively easy 97km from Greenwich Park to Folkestone. Pretty much the entire team (85 riders) took park in the entire ride up, over, down and through the Kent countryside. And the sun even poked its head around the clouds a couple of times.
The organisation by Aedas Cycle to Cannes is brilliant. Having the motorcycle escort and not having to stop at traffic lights makes everything a little bit more enjoyable - no stopping and starting.
Average speed on today's ride - which took about four hours - was about 24kph, which for little old me meant 3,000 calories burned. Bring on the food!
Check back tomorrow for video highlights from day one.
So the first 100km of the 1,500km ride down to Cannes kicks off in just a couple of hours. Everything is packed (hopefully), the legs are fully loaded (hopefully) and the mind is ready for what is set to be a challenging but hugely enjoyable (definitely) cycle all the way from Greenwich to the South of France.
The first in a series of video diaries from the six days of riding will be posted here today so keep checking back for updates on how the team of 85 property professionals (and me!) are getting on.
Send us a comment if you want to wish us well!
So the weather forecast is in and according to Invest in Nottingham team leader John Nordon, we can expect tail winds the whole way down to Cannes, a bit of sunshine and temperatures of between 6 and 12 degrees.
I'm sure I heard the words snow and France on the news this morning though...
Bags are starting to get packed, mountains of pasta are being eaten (by me at least) and bikes are being prepped as in just three days some 85 property professionals will be donning rather fetching jerseys and starting the first leg of the Aedas Cycle 2 Cannes.
EGTV went to talk to C2C's Nick Hamner and Aedas' John Nordon (also leader of team Invest in Nottingham) to get the final lowdown on what the riders can expect.
It is not a new issue but a harder pill to swallow with a bruised and battered economy and public sector spending cuts on the horizon.
The public sector will argue that Mipim is a valuable forum in which to promote regeneration projects and attract inward investment, and so it is, but try telling that to Mr and Mrs Smith of Croydon who will inevitably feel the effects of public sector penny-pinching in years to come.
Certainly if last year's austere event was to go by there will be no return of the frivolous expenditure of the boom years - Birmingham city council famously flew curry chef's over to cook 'Balti on the Beach' in 2007.
But there is a strong contingent of English councils heading to the south of France, alongside representations from Wales and Scotland. Conscious of the reaction back home their presence in Cannes might illicit, some are keeping their plans for the show quite quiet. Indeed Birmingham city council has only just launched its Mipim website and is having a discreet invitation only dinner on the first night while Manchester has a Mipim page on its tourist board site which remains light on detail of actual events.
Leeds has decided to collaborate with its rivals Bradford, Calderdale, Kirkless and Wakefield to promote the 'Leeds City region' as a whole at the event. Whether this pooling of resources means the axe for TV's Linda Barker, who has been a regular fixture in the Bradford apartment in previous years, remains to be seen.
Sunglasses picture by Andres Rueda on Flickr and used under creative commons
Just heard that the wake-up call on the C2C ride is 4.30am - yes that's half past four o'clock IN THE MORNING. Surely this cannot be true. That's the middle of the night...
Hopefully, our fears will be laid to rest at the briefing tonight.
See you at 6.30pm at Aedas's offices at 5-8 Hardwick Street, EC1R 4RG.
A smattering of C2C cyclists gathered at Regent's Park the ungodly hour of 6.25 this morning to put in one of their final training runs (or rather rides) for the 1,500km cycle to Cannes.
Let's hope that the beautiful sunrise and clear blue skies made the very early hour and the chilly temperature bearable.
EG was there to catch up with the intrepid cyclists...
And don't forget to pootle on down to Aedas' offices at 5-8 Harwick Street, EC1R 4RG, at 6.30pm tomorrow (Thursday 4 March) to pick up your cycling jersey, rider booklet and ask any questions you may have about the looming ride.
Pedal on folks!