£800-m Airport City roadshow set for China in June
Mar 14, 2014
Airport City Manchester, the core element of the UK Government-designated Enterprise Zone at UK’s third busiest airport, and joint venture partner, Beijing Construction Engineering Group (BCEG), announced plans for an international roadshow across three key cities in mainland China in June 2014.
The announcement on Monday follows BCEG International managing director Xing Yan visit to Manchester Airport to endorse the signing of the joint venture partnership.
Airport City, which will surround Manchester Airport, will become the most significant development project in the UK since 2005
Showcasing the ease with which Chinese companies can integrate into British businesses, the road shows in Beijing, Shanghai and Shenzhen from 9-13 June, will highlight what Airport City Manchester has to offer at the £800-million landmark development at Manchester Airport. At each city there will be a range of events that will appeal to occupier investors, manufacturers and property agents all of which promote the opportunities and support the 5-million square meter complex. Strong link with China BCEG assumed 20% equity in Airport City Manchester in October 2013 following a visit to Beijing by UK Chancellor of the Exchequer George Osborne. The other joint venture partners are Carillion (20%) and Greater Manchester Pension Fund (GMPF) (10%), with Argent appointed as the development manager. Manchester Airports Group (MAG) has the remaining 50% share. Airport City will become the most significant development project in the UK since the regeneration of East London began in 2005 for the Olympics. It will take Manchester Airport beyond its traditional use of a regional transport hub and transform it into an international business destination in its own right. “Airport City Manchester is set to change the UK economic landscape and way the North West of England does business. We are looking forward to seeing it come over to home soil, where it will demonstrate all of the benefits of investing in the UK. BCEG will participate in each road show as a positive example of how investing in Airport City Manchester works and is deliverable. As well as showcasing the business benefits, we’ll also be able to give first hand advice and support on integrating into British life, the education system and the immigration/visa system,” Mr Xing Yan said. BCEG is a prime example and case study of how easy it is to relocate and invest within Greater Manchester. As part of the joint venture for Airport City Manchester, BCEG have established a 25-person office at Manchester Airport, with their colleagues living within the wider Greater Manchester community, utilising the support from partners such as MAG and Manchester City Council. Airport City Manchester will be the core element of the UK Government-designated Enterprise Zone surrounding Manchester Airport, UK’s third busiest that serves 20 million passenger annually. Outline planning permission for Airport City Manchester was secured at the start of 2013 and it will provide 5-million sq ft of development, a mix of offices, hotels, advanced manufacturing, logistics and warehousing. DHL was announced as the first occupier at Airport City Manchester in November 2013, taking a 37,308 sq ft bespoke logistics building. The Enterprise Zone is intended to stimulate business growth through the provision of subsidies in the form of business rate discounts, worth up to £275,000, super-fast broadband, simplified planning procedures and the retention of pooled business rates by the Local Authority for a period of at least 25 years. The wider Airport City Enterprise Zone totals 116 hectares and is anchored by Manchester Airport and University Hospital South Manchester (UHSM). In addition to MAG’s Airport City developments, a MediPark initiative is proposed at UHSM, along with the regeneration of Wythenshawe town centre. A £300m extension of Greater Manchester’s successful Metrolink light rail network, with a new line connecting Enterprise Zone sites is under-construction and will open in 2016. In total, the wider Airport City Enterprise Zone will create up to 16,000 jobs over the next 10 to 15 years.
The specific dates of the road show, what it will cover and who will be attending will be announced at Airport City Manchester’s stand event at MIPIM, the international property conference in Cannes, France, on Wednesday 12th March.
“We are pleased to welcome BCEG's managing director to Manchester Airport to officially endorse the formation of the Airport City Manchester joint venture partnership to develop an £800m globally connected business destination. Alongside BCEG, we feel the expertise and support provided by MAG, Carillion and GMPF creates a partnership with strong track record,” said MAG CEO Charlie Cornish.
Remarking on the China roadshow in June, which aims to attract more investors, Argent managing partner David Partridge said: “It’s an exciting opportunity to take Airport City Manchester on the road with BCEG to key cities in mainland China to showcase what the world’s intelligent business destination has to offer. Plans for the development are progressing at a great pace and now is the time to show the world how Airport City Manchester can help connect their business to an international market.”
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