Bid to breathe life into North East property market

Jun 10 2009 by Peter McCusker, The Journal

COMMERCIAL property professionals are being invited to an networking event designed to kick-start regeneration activity in the region.

The recession, falling asset values, difficulties accessing finance from the banks and the empty property rates has combined to almost bring to an end any speculative commercial developments in the region.

But later this month senior property professionals and leading public sector bodies are meeting at a lunch event, which it is hoped will lead to the creation of a Regeneration Network, designed to give some momentum to the frozen sector.

One North East, Sunderland ARC, Newcastle City Council, town planners, architects, project managers, developers and land agents will all be attending the event in Newcastle on June 26.

The main speaker will be Neil Graham, head of capital programmes at One North East. A ONE spokesman said: “This is a good opportunity for partners to discuss common ground and ways to move forward in the current economic climate.

“Regeneration is a key trigger for economic growth and One North East is working hard to bring forward schemes to help lead the region out of the recession.”

The event is the brainchild of North East businessman and entrepreneur, Amer Waheed, managing director of the iPRT Group, which a transport planning consultancy.

He said: “This is a networking opportunity for professionals and investors in the North East property and regeneration industry to come together in relaxed informal surroundings, share market intelligence and opportunities in a bid to make things happen.

"I firmly believe that introductions to new contacts and sharing information and experience will be pivotal to the emergence of collaborative capital investment and regeneration projects.

“The establishment of the Regeneration Network will make a direct impact in helping to kick-start the region's economic prosperity and improve job prospects for its people."

The inaugural launch event takes place at the Spice Cube, The Gate, Newcastle, on Friday, June 26, from 12.30pm to 2pm.

This will be followed by a buffet lunch and an opportunity for networking. Further details can be found by visiting www.iprtgroup.com.