Liverpool's medium to longer term prospects for future investment are strong - this is the robust proposition GVA, Liverpool City Council, Liverpool Vision and key speaker Lord Heseltine presented at "Invest in Liverpool".

The GVA and Liverpool hosted conference took place at The Royal Society of Medicine at One Wimpole Street, Mayfair, London, on Tuesday 22 November.

Lord Heseltine's appearance came a month after the ex-cabinet minister and Sir Terry Leahy, ex Tesco chief executive, unveiled a report entitled Rebalancing Britain: Policy or Slogan? at the behest of prime minister David Cameron who asked them to draw up a plan to promote Merseyside's economic growth. Their proposals include the development of the Liverpool North docks, support for the city's expanding Commercial District and a directly elected Merseyside mayor to reinvigorate the region.

Lord Heseltine said: "Liverpool has been successfully transforming itself during the last decade, a period in which its economy has grown faster than that of the UK. Not only does Liverpool look different now, it feels different and this is reflected in the confidence it has shown during European Capital of Culture and in exhibiting on a global stage at the 2010 World Expo.

"Ambition remains high and Liverpool is looking to build on its recent achievements, However to really make the most of its assets Liverpool needs a mayor. One with real power that can make the most of its global brand and to create the conditions where business and enterprise can thrive."

Major urban regeneration programmes over the past decade have driven the city's rise to pre-eminence. Following its appointment as European Capital of Culture in 2008, the city has become one of the UK's most significant regional economies. It sits within the top five UK destinations for retail and culture. Higher education is another key strength. Liverpool also boasts one of the countries largest ports. As such Liverpool remains a focus of some of the UK's highest profile structural growth funds, including JESSICA, JEREMIE and the Regional Growth Fund.

Cllr Joe Anderson, leader of Liverpool City Council, said: "The reputation of Liverpool is stronger than it has ever been. We are regarded as a very business friendly city, a leading destination for visitors, a city of creativity and innovation and a city full of opportunity for investment.

"I am determined that our ambition and our passion will not dim and that the momentum of recent years will see us through these difficult times and ensure we are well placed to capitalise when the situation improves.

"Our plans for this city are as big and as bold as they were a decade ago, plans that will continue to deliver major schemes, unlock the potential in North Liverpool and attract significant investment from within the UK and from overseas."

Max Steinberg, Chief Executive of Liverpool Vision, the city's economic development company, said: "The desire, the confidence and the partnerships are here to realise our ambitions. There will be no standing still.

"We are using our global brand to raise our profile in London, North America and China; we are already aiming to turn the City of Liverpool into the UK capital of enterprise through our hosting of the Global Entrepreneurship Congress next March.

"We are also working with a range of partners on implementing our comprehensive long term regeneration framework for North Liverpool and the next phase of city centre regeneration.

"And we have also long seen the development of the Knowledge Economy around our universities and science parks as key to further growth and the rapid development of the Bio-Campus is a top priority."

David Sayer, Regional Senior Director at GVA, the UK's largest independent commercial property consultant, commented: "The city's potential as the UK's leading regional centre for culture, retail and science-based higher education cannot be underestimated. With this in mind Liverpool presents an exceptional longer term investment proposition. The short terms challenges however indicate a slow initial growth rate.

He continued: "The office market is likely to benefit from the relatively low level of floorspace availability combined with a tight development pipeline. This should ensure oversupply is averted, despite an expected weakness of the occupier market."

For further information regarding the event or for details of the accompanying GVA report contact David Sayer on 0151 471 6701 or david.sayer@gva.co.uk. Alternatively you can visit www.gva.co.uk/research

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