“They could do better.” That was the response of Simon Gorski, managing director, UK regions at Lendlease, when asked whether regional cities were doing enough to attract investment. “My plea to the cities outside of London is, ‘how can you demonstrate you are a global gateway city?’
“Birmingham and Manchester are doing really well in that space now. Helped by HS2, Birmingham has started to transform. Manchester has been business friendly for a long time. They’ve talked about long-term strategic relationships, ambition. They are the phrases that we like to hear, the actions that we like to see. When we have that confidence that cities and areas are taking that approach, then we are keen to invest,” he said.
We’re all competing to look the same, and we need to develop more distinctiveness about our individual places”
Regional projects on show at MIPIM included a £350m town centre regeneration scheme in Oldham, Greater Manchester; the opportunity to co-invest in two phases of Birmingham Paradise, the retail, leisure and hotel city centre scheme; and an 8,000-home regeneration area south of Leeds city centre.
Richard McCarthy, senior director, strategic services at Capita, said areas needed to tell the stories of why occupiers and residents choose to locate there. “I think that places need to sell themselves in an increasingly different way. I think the message of ‘come and invest here’ is a really important one. But actually you’ve got to sell the place, and the people that want to live and work there.”
He added: “I’m afraid we’re all competing to look the same, and we need to develop more distinctiveness about our individual places.”
Naisha Polaine, head of projects, property and infrastructure at the Department for International Trade, which is working to bring inward investment into the UK regions, said: “One of the comments that I’m most frequently faced with is: ‘I don’t want to see projects. I want to see pipeline; I want to see partnership; I want to know if I invest here, what’s going to be here over the next 10, 20, 30 years, for me to carry on investing here?’
“That’s as much about place and leadership and long-term economic prospects, as the actual projects that are on the ground.”
What is important is the infrastructure, and how easy is it to work with the various interfaces. In entering a new city, that is something we look at very carefully”
Radim Rimanek, deputy chief executive of HB Reavis, the Bratislava-headquartered office and retail developer, which has so far invested only in London within the UK, said choosing areas to invest in was less about marketing and more about infrastructure.
“I think a good investor-developer should do its homework,” Rimanek said. “What is important is the infrastructure, and how easy is it to work with the various interfaces [government or quasi government institutions in that city]. In entering a new city, that is something we look at very carefully.”
Iain Thomson is associate director for partnerships and communications at Harworth Group, the brownfield land and property developer with £410m net assets in the Midlands and North of England. He said: “Places are terrible at promoting themselves internationally generally. It has helped through the Northern Powerhouse and getting out in China. But how many people know that the home of advanced manufacturing in the UK is in Rotherham, with Rolls-Royce, and McLaren? So there is a clear role to play there.”
Regional mayors on hand at MIPIM to promote their cities included Andy Street for the West Midlands and Liverpool’s Steve Rotheram. Would they help to encourage investment? Gorski was uncertain.
“I’m nervous in the short term, because I think it will create some political tensions… but I’m optimistic in the medium to long term. Stability is what we like to see,” he said.
Regions need to sell their own individual stories to attract investment, which ties in with business secretary Greg Clark’s place-based industrial strategy.
“I know some people will be frustrated with the approach that Greg Clark adopts, but it is quite deliberate,” said McCarthy. “The reason you don’t get lots of guidance is that he is frustrated by the similarity of what people do. He wants people to create their own plans, their own investment story, their own cultural story about a place. And actually he’s very weary of central government telling them ‘This is what you must do’. And I think, it is sometimes challenging, but it is there as a positive, it is there as a ‘you know what’s special about your place, you need to communicate it, and actually your people can be a great communicator for you’.”
Panel
■ Naisha Polaine, deputy director, head of projects, UK DIT
■ Kent Gardner, chief executive, Evans Randall Investors
■ Richard McCarthy, senior director, strategic services, Capita
■ Simon Gorski, managing director UK regions, Lendlease
■ Radim Rimanek, deputy chief executive, HB Reavis
■ Iain Thomson, associate director, partnerships & communications, Harworth Group
■ Jon Collins, leader, Nottingham City Council
■ Sir Nigel Knowles, chairman, Sheffield City Region LEP
■ Ken Poole, head of economic development, Cardiff City Council
■ Pat Ritchie, chief executive, Newcastle City Council
■ Tom Riordan, chief executive, Leeds City Council
■ Russell Brown, founding partner, Hawkins\Brown
■ Deborah Cadman, chief executive, West Midlands Combined Authority
■ Mike Harris, director of growth, Southampton City Council
■ Joanne Roney, chief executive, Manchester City Council
■ Suzanne Wylie, chief executive, Belfast City Council
■ Chaired by Damian Wild, editor, EG
Main image: REX/Shutterstock
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