PROPERTY can be a long game. Schemes can take decades to come to fruition.
Neptune Developments knows this, of course. The Liverpool-based firm says it expects to start work on the next phase of its New Brighton development by September.
Some may be tempted to call this wishful thinking, given the history of the firm’s involvement in the area, not to mention economic conditions and the lack of Objective 1 cash to subsidise costs.
While the Floral Pavilion part of the first phase is on track, an associated residential scheme has not been completed, for obvious credit crunch-related reasons.
The firm, which has been active in property development in Liverpool for many years, now hopes to build a cinema, hotel, supermarket and sailing school. Neptune has operators lined up for most of these elements, such as Morrisons, for the supermarket, and The Light, who will operate the country’s first digital cinema.
Sounds fun.
But everybody will recall the huge level of protest that was whipped up by residents’ groups when Neptune first proposed building in the area. There is bound to be some continuing opposition to the revised scheme, though possibly at a much lower level.
If the firm does manage to line up the finances, the operators and the planning permission, it will have shown immense tenacity.
The fact is New Brighton badly needs development. It’s a place with obvious attractions arising from its location at the mouth to Mersey Estuary. Indeed, the seaside feel of the place is the thing that gave the town its original character. Yet New Brighton has struggled for many decades to attract the sort of investment its situation and heritage merits. Hopefully, things will be straightforward for Neptune from here on in.
D-DAYfor General Motors is just a few days away now. June 1 is the deadline set by President Obama for GM to come up with a restructuring plan that can justify tens of billions of dollars of support from public coffers.
On this side of the Atlantic, anybody associated with the car industry will be on tenterhooks awaiting the President’s decision.
That’s because the existence of a deadline in the US would seem to imply that the same date acts as a cut-off point by which General Motors’ European arm must come up with a plan of its own.
GM Europe needs a new investor or owner. Fiat is in front position at the moment, but that deal is not done yet.
The nearer things get to the wire, the stronger the Italians’ position becomes, especially if no other serious buyer emerges.
One thing we can be certain about is that the British government won’t be playing a huge part in the rescue of GM Europe, including its Vauxhall car plants in this country. Germany will be more instrumental. Our government allowed MG Rover to close, with the loss of jobs at Longbridge, while car plants at Dagenham, Luton, Ryton, Browns Lane and other places have been allowed to close or be shrunk.
I guess, by now, those whose livelihoods depend on the car industry would like some sort of conclusion to all of the uncertainty.
There must be nothing worse than living with constant fear about what the next few months or weeks might hold. The wait should be over soon.
