City’s chance for fresh start

Aug 9 2007 by Alison Gow, Liverpool Daily Post

TODAY really does mark the end of an era as developer Bill Davies finally relinquishes his grip on Exchange Flags. His decision to sell the remainder of this prestigious office complex to Liverpool developer UK Land and Property and Pochin means Mr Davies can no longer be regarded as a major property owner in Liverpool city centre.

Exchange Flags is one of the key buildings in Liverpool's commercial district, and any business would be proud to boast an address there.

But it has also been the elephant in the city's living room; as other important sites were developed and seen to thrive, the empty windows of this prestigious office complex have been a depressing reminder of its unrealised potential.

Now things are finally happening.

UK Land and Property and construc- tion company Pochin already owned part of Exchange Flags, having bought Hor-ton House last year. Now they own Wal- ker House and Western Aproaches War Museum, the former top secret military headquarters, from where the Battle of the Atlantic was planned and won.

Bill Davies will no doubt be sorry to see this part of his portfolio in new hands, but it is hard to view this sale as anything other than positive for Liver-pool. His Walton Group has been accused of stalling on the redevelopment of key city sites, including Exchange Flags, Chavasse Park and the old Post Office site in Whitechapel – two sites subsequ- ently transformed by other companies.

And, during Mr Davies's ten-year own- ership of Aintree racecourse, he achiev- ed the dubious distinction of attracting the lowest Grand National attendance in history, by tripling the admission price. The race, of course, is now one of the biggest sporting events in the world.

Liverpool Vision's chief executive, Jim Gill, says in today's Liverpool Daily Post it is "impossible to over-estimate" how important a thriving Exchange Flags is to the city's economy and potential for growth. The successful development of Horton House shows this can be achieved – now we look forward to seeing the transformation of the final piece of the puzzle.