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news |


WHAT’S DRIVING THE TMT PROPERTY MARKET IN THE NW? A


T


he North West’s Technology, Media and Telecommunications sector (TMT) has never been stronger. In this article, David Laws, Partner at commercial property specialist, Matthews & Goodman, discusses the impact the sector is having on office design and specification, highlighting the features occupiers are placing high on their wish list.


While the likes of Apple have made headlines by investing £9bn in their new ‘cathedral of power’ Battersea power station home. David says it’s important to remember that commercial property for the TMT sector is not just a shop window, but a real workplace. Consequently, he asserts, it has to be functional just like any other office.


Looks are important, says David. For a sector that’s driven by ambitious millennials that wouldn’t dream of wearing a suit to work, the office environment has to look more like a cool bar or hotel lobby than a traditional corporate interior. Much of the region’s existing building stock provides ample scope for this, thanks to the red brick warehouses and 18th century light industrial units of Liverpool,


Manchester, Preston and the towns in between.


It’s not all about aesthetics, however, explains David; functionality is also critical. TMT businesses not only look different, they also operate differently. Gone are silo teams and allocated desk spaces; this is a sector where agile working really does work so power and data installations have to be flexible and accessible. TMT businesses are the perfect example of companies doing more with less space, which gives them greater negotiating power. The supply in this sector outweighs demand so occupiers can set their own terms.


David also discusses how the office space for the TMT sector must also echo the old property adage of ‘location, location, location’. Parking, he suggests, is less important for the urban millennials that power the sector than the proximity of cool bars, interesting eateries and hero companies from within the sector. This article will discuss all elements of trends in office space for the TMT sector in the North West, including, design, specification and location.


HALLADALE HOUSE UP FOR LET


prominent office building located in the heart of Chester Business Park has been brought to market, following an extensive £2 million refurbishment. Halladale House, which was previously occupied by Ball Packaging, will be available to let on a new lease from November 2017. The 20,000 sq.ft detached property is situated over two floors and occupies prime position on the park; highly visible and overlooking the main lake. It is now configured to provide open plan layouts and following the substantial renovation works now benefits from a new feature entrance and double height glazed reception designed by Orbit Architects. A reconfigured core boasts new WC blocks, showers and lift. Outside, the building offers up to 78 car parking spaces and facilities for electric car charging. Will Sadler, director at Legat Owen,


joint agents for the scheme with Avison Young, said: “Halladale presents an exciting opportunity for any businesses looking to position themselves out of town and we’ve already had plenty of interest in what is now arguably the best building on the park.


 LEASES OF COMMERCIAL AND INDUSTRIAL PROPERTIES


 FINANCIAL INSTITUTION GUARANTEES  COMMERCIAL MORTGAGES AND FINANCE  COMMERCIAL RE-FINANCING


COMMERCIAL PROPERTY MONTHLY 2017


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