One of the biggest regional property organisations to attend this year’s MIPIM UK event has labelled it a significant success and the “perfect platform to build on”.
Developing Consensus — a group of influential North-East investors, developers and agents — sent a 12-strong delegation to the October event. It also contributed to a stand displaying the attractions of investing in the region that attracted considerable international attention, notably from the Chinese.
Organised by the North-East Combined Authority (NECA), the Invest North-East England stand was a “successful show of strength” according to Adam Serfontein, managing director of the Hanro property group and chair of Developing Consensus, but “the brand must develop further to position and profile the area as a regional city hub,” he added. “This is clear looking at competitor stands such as Leeds, Liverpool, Manchester and Sheffield.
“The prerequisite to real success is the presentation of a brand that is internationally recognisable. We can then present persuasive aggregated regional demographics. This will enable us to sell the benefits of the region as a whole and be on the radar for significant inward investment opportunities.”
The three-day inaugural exhibition — modelled on the international MIPIM conference held annually at Cannes in the south of France — was staged at London’s Olympia. All 100 stands were booked by early summer with investors, developers, local authorities, hotel groups, agents, corporate end-users and business service providers taking space or fielding delegates.
It also provided a number of important lessons, Serfontein said. “It is clear we must put in place one single point of entry for all North-East inward investment enquiries.
“Having one entry point will streamline enquiries, reduce duplication and cost and improve conversion rate through proactively targeting the market.” Any gateway would need “teeth and money”, he stressed, “with the latter made available from substantial savings in reduced sub regional investment products and individual initiatives”.
He also believes a combined initiative would enable an aggregation of the strengths of the region as a whole. “Joined up thinking between the NECA and the private sector must replace individual local authority initiatives, which are less effective, on a national and international stage, and potentially divisive,” he said.
The North-East Combined Authority — which combines Durham, Gateshead, Newcastle, North Tyneside, Northumberland, South Tyneside and Sunderland councils — also benefited from fielding investment advisors under a unified umbrella.
“With huge budget pressures on local authorities it demonstrated the compelling case for pooling resources, cutting costs and creating a properly resourced central, region-wide resource in partnership with the private sector,” concluded Serfontein.
“This would not diminish the relative assets of the seven individual local authorities — rather it would enhance them, creating something truly greater than the sum of its parts.”
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