Mike Horner, regional director, Muse Developments

1. Mike Horner
Regional Director
Muse Developments
17 June 2014

2. > An introduction to Muse
> City Place and Chester CBD
> A developer’s perspective

4. > Established 1984
> UK development company
> Proven track record
> Experts in partnership delivery
> Four regional offices

5. 3,600,000 sq ft 2,000,000 sq ft 1,500,000 sq ft 1,500,000 sq ft 3,000,000 sq ft 1,725 units
Commercial
Offices
Public Sector
Offices
Leisure Retail Distribution Residential

7. Quayside, Newcastle upon Tyne a new commercial quarter with offices, a hotel, leisure and car parks

8. Durham Walkergate a new city centre venue with a hotel, restaurants,leisure, car park and residential

9. Barbirolli Square, Manchester canal-side office and leisure development 85% pre-let and forward funded

11. Phase 1- new 1,000 space MSCP; Phase 2 – office/ retail

12. Phase 1 commercial - offices, hotel and MSCP

13. Retail/ leisure, new market and Council offices

14. 60,000 sq ft office development for KPMG

15. A new mixed-use quarter fully funded by Aviva Investors

16. Phase 1 - civic offices for Blackpool Council, Sainsbury’s supermarket and MSCP

17. 77 new apartments and 6,000 sq ft ground floor commercial space

18. Office, retail/ leisure scheme plus new Council offices and MSCP

19. Residential and leisure scheme plus new Council offices and MSCP

20. Council offices, commercial space and up to 275 new homes

21. Phase 2 - 184 apartments in two buildings with ground floor retail

22. Phase 1 - 193 apartments in two buildings with 5,500 sq ft retail

23. > One of the UK’s foremost developers
> Delivering in partnership
> Track record in regeneration
> Experts in mixed-use schemes
> Strong city centre portfolio

27. > Up to 10 buildings
> Up to 500,000 square feet of space
> c.200 canal side residential units
> c.£120m development value
> Enhanced gateway
> CW&C delivered public realm and
relocated car park

32. > New station car park
> New gateway and pedestrian access
> Relocated police station
> New public realm

33. > Six storey, Grade A office building
> 70,000 square feet
> Minimum BREEAM Excellent
> Potential ground floor active use
> £16.5m value
> £19.50 - £21.00 psf rent (inc. parking)
> Evergreen and ERDF funding

35. c.70,000 sq ft

37. > Complete new station car park May 2014
> Commence phase 1 building June 2014
> Commence public realm works August 2014
> Complete phase 1 building and public realm September 2015
> Commence residential development August 2015

40. > Transport hubs
> Regeneration/ Planning Policy
> Lifestyle choice
> Knowledge workers
> Investor demand
> The urban tendency is here to stay

41. > Grade A supply very low
> Rents starting to climb again – slowly!
> Investment activity in Manchester, not in Liverpool
> Large corporates; large floorplates
> 2013 – 865k sq ft take up in Manchester
> Ownership challenges
> Viability challenges

42. > Investors increasingly focused on city centres
> City sub regions
> Lease length issues/ flexible work space
> Entrepreneurial landlords
> PRS – a new sector
> Mixed-use schemes
> Airport City

43. > Pull of city centres will get stronger
> Live, work and play – residential, commercial and leisure
> Challenges across the board
> Need expertise, strong back-up, patience, persistence
and a long term vision

44. Mike Horner
Regional Director
Muse Developments
17 June 2014