ST. JAMES PROPERTY GROUP’s Post

"80% OF SUCCESS IS SHOWING UP" - Woody Allen Thanks to Experience Oxfordshire for organising this important roundtable discussion in #EnglishTourismWeek, and to Anneliese Dodds for showing up and fielding an hour of wide-ranging questions in an informed and authentic way. Such a shame the other local MPs didn't manage to make it! Thanks especially to Hayley Beer-Gamage FTS for representing the local visitor economy (£2.7bn and 10% of the workforce!!) so well, and for enabling me to make my points concerning: (1) Digital exclusion - the race to automation that risks marginalising the most valuable segment of our audiences; (2) The need to develop people and careers in the visitor economy - time for government to incentivise businesses to invest in so-called "soft skills" (which are HARD!) more than ever before; (3) The importance of supporting businesses to use digital technologies in the best way for their customers. Sobering also to learn that the UK now languishes at 116/117 nations for price competitiveness, and that the continued absence of a VAT refund scheme is causing Value Retail to de-prioritise investment in Bicester Village. Some genuinely challenging topics, aired in a very constructive and useful way. #ExperienceOxfordshire #LVEP #localvisitoreconomypartnership #Oxford #Oxfordshire #DMO #VisitorEconomy #DestinationManagement #TourismSector #EnglishTourismWeek24 VisitEngland

It's been an incredible year for Belfast Region City Deal at Queen's, with significant progress made on the three regional innovation centres Queen's University Belfast is leading on. These investments are set to create 4,000 new jobs across a £230m programme of innovation — driving regional growth and impact. Construction is now underway at two of the sites: • iREACH Health, a new clinical research innovation centre based beside Belfast City Hospital on the Lisburn Road • The Advanced Manufacturing Innovation Centre’s (AMIC) state-of-the-art Factory of the Future in Newtownabbey Meanwhile, the Momentum One Zero innovation centre received full planning permission in November. Here’s a look back on the progress achieved this year. Read the full story at: https://bit.ly/BRCD2024 #BRCityDeal Belfast City Council

London Mayor unveils New London Overground Line Names and Colours at Dalston Junction The Mayor of London, #SadiqKhan, has visited Dalston Junction station to launch the six new line names and colours being used across the #LondonOverground network. This significant change, which is a major update to #London’s world-famous #Tubemap, will make it easier for customers to navigate London’s #transport network, while also celebrating the city’s diverse culture and history. The event celebrated the near-completion of one of the largest customer-focused projects Transport for London (TfL) has ever undertaken, helping to make the network easier to navigate for millions of customers every year. An unprecedented mobilisation over the past nine days has seen TfL and its suppliers unveil 6,000 new station wayfinding signs, Tube maps, station digital screens and onboard train information, as well as audio and visual announcements on both London Overground trains and stations. Final touches to the TfL website, TfL Go app and audiovisual passenger information on newer London Overground trains will be completed over the next couple of months. Throughout the summer TfL ran extensive customer engagement to familiarise customers with the new London Overground names and colours. This included the popular ‘Mind the Gap’ podcast series, six walking tours developed with Go Jauntly, a free community weaving event that created a Weaver line roundel and a football festival in Regents Park, as part of the Lioness line celebrations. The new names and colours are:   #Lioness (running from Watford Junction to Euston) – yellow  #Mildmay (running from Richmond and Clapham Junction to Stratford) - blue  #Windrush (running from Highbury & Islington to New Cross, Clapham Junction, Crystal Palace and West Croydon) – red  #Weaver (running from Liverpool Street to Enfield Town, Cheshunt and Chingford) – maroon  #Suffragette (running from Gospel Oak to Barking Riverside) – green  Liberty (running from Romford to Upminster) - grey  Stakeholders, customers, staff, historians, industry experts and local communities played a key role in helping inform the names through engagement, which took place ahead of the decision on the final six names. London’s diverse history and culture have always played a significant role in shaping the city, and it was important for the line names, which will be used for years to come, to reflect this. https://lnkd.in/e2ug__KJ

Since I'm attending Local Government New Zealand (LGNZ)'s conference at the local convention centre on Friday, I pulled together a bit of data on what convention centres have cost us to build. Back in 2016, the Ministry of Business, Innovation, and Employment highlighted the upcoming construction of major convention centres in Auckland, Christchurch, and Wellington as a boon for the country's tourism industry (https://lnkd.in/gudHajF3). These facilities were seen as economic development investments that would boost our economy by attracting high-spending business tourists. MBIE also provides 2016 cost estimates for these three facilities. The Auckland convention centre, which was built by SkyCity in exchange for gambling concessions from central government, was forecast to cost $471 million. The facility is unfinished and the final cost is unknown, but 2022 news reports stated that costs had risen to over $900 million (https://lnkd.in/gWx6auja). This is a cost escalation of at least 91%. The Christchurch convention centre, which was funded by central government as a post-earthquake 'anchor project', was forecast to cost $284 million. It opened in 2022 with a final cost of $475 million (https://lnkd.in/gK8yADKY). This is a cost escalation of 67%. The Wellington convention centre, which was funded by local government, was forecast to cost $134 million according to the MBIE document. (Edit: Linda Meade points out that the 2018 business case, which the council approved, cited a cost of $179 million: https://lnkd.in/gSXMgCNU) It opened in 2023 with a final cost of $180 million (https://lnkd.in/gZhynd8y). This is a cost escalation of 34% relative to the 2016 MBIE figure, or less than 1% relative to the 2018 business case estimate. Interestingly, the Wellington project, which was delivered by local government, came in much closer to its 2016 cost estimates than the projects delivered by the private sector and central government. Regardless of cause, cost escalation of this magnitude make the economics of providing facilities like convention centres much harder. Debt servicing costs are higher, and facility maintenance and depreciation costs may be higher as well. When we are considering building infrastructure for economic development purposes, we need to keep an eye on costs and revenues.

Three fascinating industry trends Team Gather learnt at the TransCityRail South conference yesterday. The third one is critical for any projects or firms aiming for sustained, rapid scaling up 🌱 💡A Miraculous Turnaround Andy Lord spoke about the impressive financial success that Transport for London has delivered. The organisation serving over 8 million residents and many more visitors is now profitable, just seven months after announcing budgetary issues last year. 🤝Equity in Every Sense Southern Renewals Enterprise is in the process of changing its commercial model to make projects more equitable for all partners. As our company mission is to make the construction industry more sustainable for both the environment and those who work in it, this chat has left us with much food for thought 💭 🤔MVP or Setting Up for Success It's a classic conundrum - choosing between what meets your needs now and what you can grow into. Fellow exhibitors like COOMBES Group and OnSite Central Limited have previously favoured in-house solutions for digitalisation. Their recent successes have caused them to outgrow these entry-level tools quickly. As a decisionmaker, what's your philosophy on this timeless challenge? Just right, or scalability? Needless to say, TCR has smashed this conference again👏👏 We are over the moon seeing our logos at the iconic Twickenham Rugby Stadium 🏉

🌟 Trophy Long Income Investment Opportunity in the Heart of Edinburgh 🌟 On behalf of the landlord, JLL are proud to bring to the market one of the most unique investment sales in the UK for a number of years. 🏢 145 Princes Street, Edinburgh, EH2 4BL – The iconic home of Johnnie Walker Princes Street. 🏰 Occupying one of the most prominent sites in Edinburgh city centre, the property comprises a Grade B listed, former bank and department store building which has been transformed into the multi award-winning, flagship visitor experience for the world’s largest selling Scotch Whisky brand. Key Highlights: 📅 Let to Diageo Scotland Limited on a 25-year FRI lease expiring August 6, 2044. 📈 Current rent: £1,854,183 p.a., with upwards-only rent reviews every 5 years in line with the Retail Prices Index, capped at 3.5%. 📍 Why Edinburgh? A UNESCO World Heritage site and a prominent global tourist destination. 4.9 million annual tourist visits, the UK's top destination outside London. Scotch Whisky centres are collectively Scotland's top tourist attractions. 🏢 About The Tenant: Diageo are a global leader in premium drinks with brands including Johnnie Walker, Guinness, and Smirnoff. Diageo Scotland Limited reported 2023 FY turnover of £2.6 billion, pre-tax profits of £960 million and shareholders funds of £3.97 billion. 🔑 Additional Highlights: Strict alienation provisions - assignation of whole can be refused in the case of a tenant rating of lower than Standard & Poors 'BBB'. Johnnie Walker Princes Street has welcomed over 1 million visitors from 141 countries, since opening in 2021. Heritable tenure (Scottish equivalent of freehold). Outstanding ESG credentials: BREEAM ‘Excellent’, LEED ‘Platinum’, EPC ‘B’. 💰 We are instructed to seek offers for our clients heritable interest in the property in excess of £31,580,000 (Thirty One Million, Five Hundred and Eighty Thousand Pounds Sterling) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 5.50% and a projected reversionary yield of 6.38% in August 2029, based on Oxford Economics Forecasts, allowing for standard purchaser’s costs based on LBTT. 📞 For further information, or to arrange an inspection, please contact myself or one of the team: Calum Cowe Timothy Leyshon Fraser Bowen #RealEstate #Investment #CommercialProperty #JLL #Edinburgh #JohnnieWalker #Diageo #ScotchWhisky #ESG https://lnkd.in/epqAqe4F

We are saying it for a long long time now... but it's (finally) official! Leeds has been crowned as the BEST PLACE TO LIVE in the North and the North East of England! 🙌🙌 Nestled in the beating heart of Northern England, Leeds stands tall as a beacon of vibrant culture, new opportunities, and a warm community spirit. Leeds effortlessly blends rich history with a modern, cosmopolitan vibe. From its bustling streets adorned with Victorian architecture to its cutting-edge cultural scene, every corner whispers tales of its diverse heritage. The city boasts a vibrant food scene, from quirky cafes and world restaurants to fine dining, every meal is a delight waiting to be savoured. With a dynamic economy that bursts with innovation and growth, Leeds is not just a city; it's a powerhouse of opportunity. From flourishing industries to a burgeoning start-up ecosystem, it's the ideal place to carve out your career path and thrive professionally. Need a breath of fresh air? Leeds is surrounded by breath-taking natural beauty, with amazing city parks, rolling countryside, and picturesque landscapes just a stone's throw away. Embrace the great outdoors and rejuvenate your spirit amidst nature's embrace. So, why settle for ordinary when you can embrace the extraordinary in Leeds? https://lnkd.in/eTA3fz4F #leeds #leedsbusiness #visitleeds

Last week I had the pleasure of attending the Committee for Sydney's Parramatta Road Summit, an event that looked at the history, the future and the opportunity of one of Sydney's most-storied and now most-neglected corridors. 💭 I won't touch too much on what was discussed in detail, for that's done quite well by the summary here: https://lnkd.in/dU6dpc9t 📰 and by Elias Visontay's article in The Guardian here: https://lnkd.in/dFvgyvz4 However one thing I want to highlight is the scale of this project, using an incredibly rough and unreasonable comparison. 🚋 The area covered by the proposed Parramatta Rd Light Rail, connecting to Green Square to Burwood via Central, is wider than the Paris City Centre 🗼. Sydney is enormous, and connecting our centres is a mammoth task. Building one light rail project may not solve all of the issues in this part of town, but it will play a significant role in improving the economic trajectory of what should be Sydney's Champs Elysees (that's Parramatta Rd to be clear). 🥅 To take this further, I'm suggesting that Sydney, and more specifically, Parramatta Rd, should bid for the next available Olympics! If Paris can do it in a 10km space*, we can too! *I acknowledge the width of the corridors are quite different, but if anything that highlights the opportunity of the surrounding centres and neighbourhoods to economic growth off the back of a strong Parramatta Rd spine. And sure, Baron Haussmann had free reign over crafting Paris in the 1850s and 1860s, but there are some wonderful opportunities for development and community building in the area! One has to dream!

We are excited to announce that we have launched the PFBC Austria Business Hub. You can connect with like-minded real estate industry professionals in Austria as well as advertise your products and services to new #Austrian partners. Follow our dedicated PFBC AUSTRIA page and our main PFBC page for the latest club news and exclusive offers. * * * #Austria #businessnewsaustria #RealEstateIndustryAustria #GetClients #austriabusiness #businessopportunity #networking #realestateindustry #business #businessclub #businesspartners #realestate #propertyexpert

We are excited to announce that we have launched the PFBC Austria Business Hub.   You can connect with like-minded real estate industry professionals in Austria as well as advertise your products and services to new #Austrian partners.   Follow our dedicated PFBC AUSTRIA page and our main PFBC page for the latest club news and exclusive offers.   * * *   #Austria #businessnewsaustria #RealEstateIndustryAustria #GetClients #austriabusiness #businessopportunity #networking #realestateindustry #business #businessclub #businesspartners #realestate #propertyexpert