St Modwen chalked up its second EG award this year after being named Property Company of the Year in the North West. Savills marked its 15th year in Manchester with the Property Adviser of the Year gong.
Best property company: St Modwen
Hot on the heels of a win in Wales and the South West, St Modwen scores its second accolade of the year by being named EG‘s North West property company of 2011.
The Birmingham-based developer has spread its wings far and wide across the country. But, unlike many, it has actually been progressing major schemes across the North West, such as the region’s largest regeneration project at Great Homer Street, north Liverpool, and its £350m transformation of Skelmersdale.
Major achievements for this year include fully letting the £10m leisure development in Widnes, as well as securing 76,000 sq ft of prelets to Manchester city council and retailer Wilkinson at Etrop Court in Wythenshawe. The latter, says Michelle Taylor, north west regional director for St Modwen, “just continues to go from strength to strength”.
But the market continues to be challenging, she says, and is dominated by food retail, leisure and convenience retail, which, luckily for St Modwen, are a major component of many of its schemes.
Of north Liverpool and Skelmersdale, Taylor says: “These schemes have survived the credit crunch and indicate there is business to be done where long-term, flexible partnerships with the public sector exist.”
The property industry has applauded the company for its understated approach. Howard George, partner at Warrington-based B8, says: “They manage to succeed by being below the radar and not singing from the rooftops.”
George says St Modwen does not necessarily opt for mainstream opportunities, but instead goes for slightly more quirky situations in which the mass market would not be interested. “They are clearly well funded and most reliable purchasers of sites as they have good cash reserves and do not rely on bank financing, like many of their competitors,” he adds.
St Modwen is also strong at dealing with long-term redevelopments, often where a joint venture is required with a local authority.
George adds: “Michelle Taylor should be proud of her achievements, particularly in this challenging market. St Modwen now has an enviable reputation to perform and develop.”
Best property adviser: savills
This year marks Savills’ 15th anniversary in Manchester and, unlike many agents across the country, it has been growing. During the past year, it increased the number of fee-earners by a quarter, winning it a 23% increase in office turnover.
That is some feat in an, at best, stagnant market, and at worst a rapidly eroding agency landscape. The growth was probably a major factor in Savills lifting the EG North West property adviser trophy this year.
The firm decided to show occupiers the way earlier this year when it agreed a deal to move to nearly 14,000 sq ft of new grade A space at Belvedere House. Taking new space is a brave move for any business, but it was a drop in the ocean for Savills’ occupational agency team, which transacted close to 4m sq ft of office, industrial and retail space throughout the North West.
Patrick Joynson, head of Savills’ Manchester office, says he was “delighted” by the award. “We have always sought to build long-term relationships – not only providing excellent service, but business stability and certainty, which is becoming increasingly important for our clients,” he adds.
Joynson says the outlook for Manchester is solid and the city region has a “can do” attitude that helps it catch the eye of global investors and occupiers – something that should allow it to keep growing throughout the year.
