Council's global bid to get property tycoons to invest in York (From York Press)
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Council's global bid to get property tycoons to invest in York
9:18am Monday 11th March 2013 in News
Exclusive By Mark Stead, Political Reporter
ECONOMIC chiefs from York were today heading to France to meet property tycoons, hoping to attract millions of pounds of vital investment to the city.
Officials from City of York Council are joining a delegation from the Leeds City Region at a huge international conference, to sell the city to the world and try to kickstart some of York’s stalled developments, such as York Central, Castle Piccadilly and Nestle South.
The international MIPIM 2013 conference in Cannes runs from tomorrow until Friday and attracts 4,300 investors and 19,000 delegates from 83 countries. This will be the first time York has been represented.
The council will be represented by Katie Stewart, head of economic development, and Darren Richardson, director of city and environmental services, who hope to promote York as a modern rather than solely historic city.
The huge event will showcase the key York Central ‘teardrop’ site near York Station to economic powerhouses. The search for a developer was halted in 2009, and while an £80 million funding gap has been reduced, £35 million is needed to move the project forward. Ms Stewart and Mr Richardson will also will also promote York’s profile as a commerce, science and technology centre.
Mr Richardson said: “The investors at MIPIM are the people with money who want to invest in the areas where we want York to grow – business, housing and retail.
“We want to pitch York as a good place to invest and invite investors here to see what we have to offer. York Central is the flagship and we’re seeking people interested in plugging the final gap. We’re working on opportunities within the UK, but at MIPIM we will see if the international market can progress York Central. Just a little upfront investment is needed to bankroll this and other sites.”
York is spending £25,000 on the trip, including a £20,000 MIPIM admission fee, but officials hope to recoup much more in investment. The money has come from the city council’s Economic Infrastructure Fund.
Mr Richardson said the HS2 project would give York Central’s rail links an “international flavour”, increasing its appeal. Ms Stewart said the site was sometimes considered “difficult” in UK circles but said: “At MIPIM, we can pitch York Central’s pure opportunity and what it will achieve to an international market.
“It’s a huge, valuable audience. We’ll have direct conversations with chief executives, managing directors and investment directors, who you’d otherwise have to spend a lot of time and money getting through the door to see. Compared with some other MIPIM exhibitions, costing hundreds of thousands of pounds, we’re spending pennies to be there.
“We want to shift the perception of York so it’s not just seen as a historic city – which can be a red flag to businesses - but also a modern, forward-facing city.”
The council has already contacted many investors and delegates through MIPIM’s database. Mr Richardson said: “We hope to get investment in sites to help create jobs and homes, bring businesses to York and get the city’s message and offer across to a worldwide audience. MIPIM will only be the start of a year of work as we follow up opportunities.”
The MIPIM property fair is known in full as Le Marche International des Professionels de L’immobilier.
Comments(31)
Jeff_li
says...
1:07pm Mon 11 Mar 13
pedalling paul
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1:23pm Mon 11 Mar 13
Ignatius Lumpopo
says...
1:30pm Mon 11 Mar 13
Or, rather, out at Monks Cross...
Capt. Dobie
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1:32pm Mon 11 Mar 13
/
It's in Cannes. 12- 15 March.
tobefair
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1:45pm Mon 11 Mar 13
bloodaxe
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2:47pm Mon 11 Mar 13
neutral observer 2 wrote:That's one way of putting it. Another might be to use punctuation, capital letters at the beginnings of sentences and a spell-check.
Dont see much point. if you cant convince someone whos been here 150 years building York for plebs and is sitting on his nest waiting for the next rake of cash. why would jonny foreignor want to come here ?
Garrowby Turnoff
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3:04pm Mon 11 Mar 13
bloodaxe wrote:Must be French... n'est pa?
neutral observer 2 wrote:That's one way of putting it. Another might be to use punctuation, capital letters at the beginnings of sentences and a spell-check.
Dont see much point. if you cant convince someone whos been here 150 years building York for plebs and is sitting on his nest waiting for the next rake of cash. why would jonny foreignor want to come here ?
Scarlet Pimpernel
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3:22pm Mon 11 Mar 13
The international MIPIM 2013 conference in Cannes runs from tomorrow until Friday and attracts 4,300 investors and 19,000 delegates from 83 countries. This will be the first time York has been represented.
At a cost of £25,000 it will hopefully be the last time they attend.
What a desperate attempt this is to try and attract investment.
The signal it sends is, 'no one in the UK will invest in York, so will some rich European investor be foolish enough to ?'
Property investors will do their homework, check out how much housebuilders are making in the UK, and see that the returns on investment are pathetic, then realise why no one is investing in the stalled sites in York, in particular.
Do Darren Richardson and Katie Stewart really think investors don't do their homework ?
What a waste of time and money !
meme
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4:07pm Mon 11 Mar 13
Its like putting two lambs into a pack of wolves and expecting to convert them to vegetarianism!
God help us and we have wasted £20,000 plus
Never mind.... York can afford it we only owe something like £200 million so whats £20K
Scarlet Pimpernel
says...
4:15pm Mon 11 Mar 13
meme wrote:York may have £200m of debt, but, they have land and property assets valued at cost of over £500m, plus an art collection worth £30m. They have over 7,900 council houses only valued on the books at £33,000/each, so there is a healthy revaluation reserve.
The mind bogggles Its like putting two lambs into a pack of wolves and expecting to convert them to vegetarianism! God help us and we have wasted £20,000 plus Never mind.... York can afford it we only owe something like £200 million so whats £20K
This is not the point, though. When they had to close Beckfield Lane tip to save, what was it £30k/year ? they should not be wasting £25k on this stupid trip to the south of France for two of it's well paid staff, with little or no property expertise.
IT'S A JOKE......
AN EXPENSIVE, BAD JOKE !!
Buzz Light-year
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6:25pm Mon 11 Mar 13
ReginaldBiscuit
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6:31pm Mon 11 Mar 13
Scarlet Pimpernel wrote:Agreed with everything you said.
MIPIM is where experienced property companies go to market their sites, developments, potential projects etc. They have all the essential information on project costs, values, fees, yields, product, design, demand etc.
York Council sending two staff who are not property experts, to try and sell sites the council do not own, is a completely stupid idea. Has it not dawned on the numbties at the Council, that rich overseas investors have their fingers on the pulse, and consult UK property agents about the deals that are avaiable, or contact the developers themselves, who they know and trust. This is just another ill-thought-out, desperate attempt to Get York Building, destined to fail.
When will the Council learn that the way they will get investors interested is to show that developers can make money in York ? The ONLY way they can help, is to drop their prohibitive affordable housing targets, which are the main reason the large sites are stalled.
Another £25,000 wasted !
“We hope to get investment in sites to help create jobs and homes, bring businesses to York and get the city’s message and offer across to a worldwide audience. MIPIM will only be the start of a year of work as we follow up opportunities.” > "Mr Richardson said the HS2 project would give York Central’s rail links an “international flavour”, increasing its appeal. Ms Stewart said the site was sometimes considered “difficult” in UK circles but said: “At MIPIM, we can pitch York Central’s pure opportunity and what it will achieve to an international market."
ReginaldBiscuit
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6:33pm Mon 11 Mar 13
neutral observer 2
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7:10pm Mon 11 Mar 13
bloodaxe wrote:Good to see the point wasn't missed.
neutral observer 2 wrote:That's one way of putting it. Another might be to use punctuation, capital letters at the beginnings of sentences and a spell-check.
Dont see much point. if you cant convince someone whos been here 150 years building York for plebs and is sitting on his nest waiting for the next rake of cash. why would jonny foreignor want to come here ?
Why do we need to go to France ?
We have our own home grown xenophobe, who reports to being the big brain on brown bread.
Pity his only answer to property development is to sell off all the family silver, cheap. To him and his cronies i can only gather.
Let face it, a bus fare to Strensall would solve all of the UK's problems.
Scarlet Pimpernel
says...
7:53pm Mon 11 Mar 13
neutral observer 2 wrote:As usual, no one but you has a clue what you are talking about ?
bloodaxe wrote:Good to see the point wasn't missed.
neutral observer 2 wrote:That's one way of putting it. Another might be to use punctuation, capital letters at the beginnings of sentences and a spell-check.
Dont see much point. if you cant convince someone whos been here 150 years building York for plebs and is sitting on his nest waiting for the next rake of cash. why would jonny foreignor want to come here ?
Why do we need to go to France ?
We have our own home grown xenophobe, who reports to being the big brain on brown bread.
Pity his only answer to property development is to sell off all the family silver, cheap. To him and his cronies i can only gather.
Let face it, a bus fare to Strensall would solve all of the UK's problems.
The incoherent ramblings of someone who has nothing sensible or relevant to contribute to the debate.
Scarlet Pimpernel
says...
7:57pm Mon 11 Mar 13
ReginaldBiscuit wrote:I can guess what you mentioned, and it was probably down to a few words which there is an alert/warning for.
My comments were removed. Freedom of speech is obviously alive and well in the press.
I think we both know what they are ?
Scarlet Pimpernel
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8:03pm Mon 11 Mar 13
Scarlet Pimpernel
says...
10:17pm Mon 11 Mar 13
This signifies that the Get York Building issue (aka Waddington'gate) is toxic, and Labour politicians are distancing themselves from these 'initiatives'.
akaroa
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10:59pm Mon 11 Mar 13
perplexed
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8:23am Tue 12 Mar 13
Scarlet Pimpernel wrote:I think I will have to sit down for a moment, but Pimpernel has a good point. This is a complete waste of money and an insult to the people of York. It is totally indefensible and someone should be held to account as soon as possible!
MIPIM is where experienced property companies go to market their sites, developments, potential projects etc. They have all the essential information on project costs, values, fees, yields, product, design, demand etc.
York Council sending two staff who are not property experts, to try and sell sites the council do not own, is a completely stupid idea. Has it not dawned on the numbties at the Council, that rich overseas investors have their fingers on the pulse, and consult UK property agents about the deals that are avaiable, or contact the developers themselves, who they know and trust. This is just another ill-thought-out, desperate attempt to Get York Building, destined to fail.
When will the Council learn that the way they will get investors interested is to show that developers can make money in York ? The ONLY way they can help, is to drop their prohibitive affordable housing targets, which are the main reason the large sites are stalled.
Another £25,000 wasted !
Scarlet Pimpernel
says...
1:15pm Tue 12 Mar 13
They need to unlock the stalled sites before anything else, and the longer they leave this, the slower any recovery will be.
Even if they do the right thing, and incentivise through regulatory roll-back, they CANNOT hit their 5-year aspirational target for housing - that is a FACT !
Scarlet Pimpernel
says...
1:21pm Tue 12 Mar 13
Phase 1 is almost completed, and there are only two private dwellings left for sale out of the 38 they are able to sell on Phase 1 (plot 53 being the sales centre). They have not appointed the contractor for the second phase, and as roads and sewers are not installed for Phase 2, there will be a lag when there are no properties are available for sale. This is disastrously bad management by JRHT, and will mean that the development will take years - 22 at the current rate of build/sales to be completed. Only last year in Inside Housing, the development was quoted to be completed by 2016 !
This is another example of the Council and JRHT having grand ideas, but, being clueless about delivery.
Leave housebuilding to the experts, and get off their backs with unworkable AH taxes !
Scarlet Pimpernel
says...
2:45pm Tue 12 Mar 13
They certainly know how to pick em ? !!!!
Scarlet Pimpernel
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2:49pm Tue 12 Mar 13
Mr Richardson said the HS2 project would give York Central’s rail links an “international flavour”, increasing its appeal.
Good point Darren. Don't forget to tell them that HS2's completion date is in 20-years time ? !!!
Jam tomorrow, Darren ?
Scarlet Pimpernel
says...
2:54pm Tue 12 Mar 13
Ms Stewart said the site was sometimes considered “difficult” in UK circles but said: “At MIPIM, we can pitch York Central’s pure opportunity and what it will achieve to an international market.
Say what ?
So Katie, UK developers are too thick to sort out City Central's problems, eh ? That has to be a big selling point to the Europeans, doesn't it ? The site has stood dormant for donkeys years, it's got contamination problems, the owners want top dollar for it, so hey, just wave your magic wand, and the tooth fairy will turn it into Canary Wharf II. Yeah, in your dreams, Katie !
Scarlet Pimpernel
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2:56pm Tue 12 Mar 13
Admit it, you ain't got a clue ?
neutral observer 2
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6:35pm Tue 12 Mar 13
Scarlet Pimpernel wrote:Oh i see.
neutral observer 2 wrote:As usual, no one but you has a clue what you are talking about ?
bloodaxe wrote:Good to see the point wasn't missed.
neutral observer 2 wrote:That's one way of putting it. Another might be to use punctuation, capital letters at the beginnings of sentences and a spell-check.
Dont see much point. if you cant convince someone whos been here 150 years building York for plebs and is sitting on his nest waiting for the next rake of cash. why would jonny foreignor want to come here ?
Why do we need to go to France ?
We have our own home grown xenophobe, who reports to being the big brain on brown bread.
Pity his only answer to property development is to sell off all the family silver, cheap. To him and his cronies i can only gather.
Let face it, a bus fare to Strensall would solve all of the UK's problems.
The incoherent ramblings of someone who has nothing sensible or relevant to contribute to the debate.
As long as everybody bows to your superior knowledge of how to feather your own nest. You find it agreeable.
I think its a waste of time and money.
But again you make the simplest of points to make into a rant against anything being done at all.
I hope your doing your "reseach" on how to be elected. Then instead of us all having to read your paranoid rants, we can support an elected official getting it right 100% of the time .
The birds will sing and the weather will always be fair.
Scarlet Pimpernel
says...
8:03pm Tue 12 Mar 13
neutral observer 2 wrote:Maybe you should apply to manage YCFC, so you will then be qualified to wind up posters on the footy forums - that's your forte isn't it ?
Scarlet Pimpernel wrote:Oh i see. As long as everybody bows to your superior knowledge of how to feather your own nest. You find it agreeable. I think its a waste of time and money. But again you make the simplest of points to make into a rant against anything being done at all. I hope your doing your "reseach" on how to be elected. Then instead of us all having to read your paranoid rants, we can support an elected official getting it right 100% of the time . The birds will sing and the weather will always be fair.neutral observer 2 wrote:As usual, no one but you has a clue what you are talking about ? The incoherent ramblings of someone who has nothing sensible or relevant to contribute to the debate.bloodaxe wrote:Good to see the point wasn't missed. Why do we need to go to France ? We have our own home grown xenophobe, who reports to being the big brain on brown bread. Pity his only answer to property development is to sell off all the family silver, cheap. To him and his cronies i can only gather. Let face it, a bus fare to Strensall would solve all of the UK's problems.neutral observer 2 wrote: Dont see much point. if you cant convince someone whos been here 150 years building York for plebs and is sitting on his nest waiting for the next rake of cash. why would jonny foreignor want to come here ?That's one way of putting it. Another might be to use punctuation, capital letters at the beginnings of sentences and a spell-check.
You're a bit of a hypocrit, aren't you ? Telling me to run for the council, so that I can influence things from the inside, while all along you preach to the YCFC fans who don't share your views.
If you managed City they would be challenging Man Utd for the Premiership next season, such is your knowledge of the game.
Are you City's most knowledgeable fan ? You certainly think you are !
mallory
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1:02pm Wed 13 Mar 13
a) no good for retail , we have plenty of empty shops already
so its housing or offices
v difficult site, would need serious cleanup, so serious prob need to seal site, bring all levels up, make sure no water permeates through
foundation - piled with ring beams above ground, but isolated to prevent noise transfer from railway.. expensive enough to make housing unpractical due to 'affordable housing' policy
so its offices.
i can look out my window and see a LOT of unused office space
its a dead duck in the current climate / complete waste of £25k
Scarlet Pimpernel
says...
3:36pm Wed 13 Mar 13
Please return to York as a matter of urgency.
The Annual Monitoring Report for 2011/12 your department has just put on CYC's website is missing key information:-
1. No planning permissions for housing given.
2. No unimplemented planning permissions given.
3. No housing trajectory for predicted completions given.
Why is this information missing ?
Isn't the truth, that the numbers give the game away ? The numbers are so bad, that you daren't publish them, and you won't do the trajectory because if done honestly, it will show that you can't hit the targets.
You better have some answers when you get back, or, you will be down the road with the rest of the culprits who are lying and cheating on the scalke of the housing proble the Council has created.
neutral observer 2 says...
12:46pm Mon 11 Mar 13