54 commercial property
Heathrow: Risking a national economic disaster
Failure to expand Heathrow would be disastrous for the business future of the Thames Valley and a national tragedy for the UK economy, delegates were told at the Thames Valley Property Forum (TVPF) held at Ascot Racecourse last month. John Burbedge of The Business Magazine reports
For decades the Thames Valley has relied on Heathrow as the catalyst in attracting international businesses to operate in the region. In consequence, the Thames Valley has become vitally important to the national economy producing a major contribution to GDP. Accordingly, any threat to Heathrow will impact the UK economy, the 170-strong TVPF heard.
Heathrow is currently the UK and Europe’s undisputed international long-haul flight hub in foreign eyes, yet it is also one of the busiest airports in the world, with plane take-offs or landings every 45 seconds. It needs to expand. Heathrow has two runways; its European rivals have 4-6 each, revealed Clare Harbord, corporate affairs director for Heathrow Airport Holdings.
With Heathrow’s flight-slots full and European hub airports gaining global passenger and freight business, not least from emerging nations, ‘UK plc’ (and the Thames Valley) was effectively “missing out on £14 billion of trade, and that’s a national tragedy”, said Harbord.
‘Back Heathrow’
campaign launched Businesses, organisations and residents around Heathrow have combined in a new ‘Back Heathrow’ campaign to defend companies and more than 110,000 jobs that rely on the airport’s secure future.
The business voice of support for Heathrow is too muted, said campaign director Rob Gray, who urged TVPF delegates to speak out via:
www.backheathrow. org or on twitter @backheathrow or by letter.
Made in the Thames Valley
The Thames Valley may be a ‘super-region’ in world economy terms, but it needs to assert a global identity.
“Identity, or rather the lack of one, is a real issue for the region’s survival,” warned TVPF founder Matthew Battle. How did incoming foreign employees describe the Thames Valley to their families or work colleagues back home, he wondered?
While praising the promotional work of Thames Valley LEPs and the
www.thamesvalley.co.uk website backed by Thames Valley Chamber of Commerce Group, Battle urged delegates to do more to publicise the region positively, even by supportively associating the words ‘Thames Valley’ to their business email sign-offs.
www.businessmag.co.uk
international connectivity: “The time has come to address UK hub capacity. Let’s build on our strengths at Heathrow – this huge magnet for economic growth.”
Tim Smith of Thames Valley Berkshire LEP and Gareth Osborn from SEGRO also urged businesses to provide support, preferably factual and evidence-based.
Nigel Horton-Baker, CEO of Reading CIC UK, said Heathrow expansion was a no-brainer because of the downside effects of not boosting its capacity. Heathrow would also be the quickest and cheapest hub solution, the forum heard. Even so, it would be 2025 before expansion could be completed.
Delegates at this year's Property Forum
Unfortunately, Heathrow expansion had become a longstanding political football. Now the Government’s Davies Commission interim report on UK hub airport proposals is due at the end of this year, before finalisation by 2015.
Harbord called for Thames Valley businesses to make their case for Heathrow’s expansion of its
Ruth Bagley, CEO of Slough Borough Council, noted how the new Western Rail Access to Heathrow (WRatH) proposed for completion in 2021 would help secure the airport and the Thames Valley’s future. Other forum delegates, while supporting Heathrow’s expansion, pointed out that companies today are more flexible and willing to relocate – an early decision on Heathrow’s future was vital.
Representing the BCC Link to China, Dr Kegang Wu, highlighted the rapid growth of emerging Far Eastern economies and queried if Heathrow expansion could be achieved quicker – in five years, not 15.
Regeneration of town centres well underway
With Slough’s property links to Ricky Gervais’s ‘The Office’ now history, Reading’s new station complex literally in sight, and demolition teams at work in Bracknell town centre, TVPF delegates were provided with detailed insights into continuing regeneration plans for these major Thames Valley towns.
Reading
Sackville Developments (a joint venture between Stanhope PLC and Benson Elliot) revealed plans for an attractive mixed-use redevelopment of the 3.25-acre Station Hill area south of the rail station. Built in phases, the scheme will include 920,000 sq ft of offices, 225,000sq ft residential and 65,000 sq ft retail with 800 car spaces along with new pedestrian throughroutes and public open spaces. “Outside London, this is one of the most exciting sites in the UK and I see it having the same impact on Reading as Spinningfields did for Manchester,” said Benson Elliott partner Philip Irons.
Slough
The progress of Crossrail, WRatH connection to Heathrow and ongoing Heart of Slough infrastructure developments are being keenly watched by property sector professionals – they could make the town the best connected in Europe. Allied to improvements in education, housing and social environments, Slough is steadily gaining important growth factors. “We are very much rolling already,” said Ruth Bagley.
Bracknell
The long-awaited phased scheme of Bracknell Regeneration Partnership (BRP) to knock down the aging unattractive town centre and reinvigorate it with a 21st- century holistic shopping experience have finally begun. “This will be the biggest change in Bracknell’s history since Bracknell new town was built," said Victor Nicholls, assistant chief executive, Bracknell Forest Council.
Details; Matthew Battle 07768-377172 Twitter: @tvpf
THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2013
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