Richard Tibbott | Ричард Тиббот

Destination developer & Chairman Cushman & Wakefield International Advisory services

Dec 5th 2012

TOP 10 MYTHS ABOUT POST-INDUSTRIAL REGENERATION

ОСНОВНЫЕ МИФЫ О РЕГЕНЕРАЦИИ ИНДУСТРИАЛЬНЫХ ЗОН

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 1

WE COULD DEVELOP THIS QUICKER THAN IN THE CITY

ЗДЕСЬ ВСЕ ПОЛУЧИТСЯ БЫСТРЕЕ, ЧЕМ В ГОРОДСКОЙ СРЕДЕ

CUSHMAN & WAKEFIELD

KINGS CROSS ST PANCRAS STATION DEVELOPMENT BY ARGENTMOSCOW URBAN FORUM

Post Industrial land comes in many forms – ex military land, old industries, ports, railway land, often in the middle of major cities

CUSHMAN & WAKEFIELD

KINGS CROSS ST PANCRAS STATION PLANNING TIMELINE 2000 - 2007MOSCOW URBAN FORUM

Do remember its going to take a long time … Its not like normal real estate development

CUSHMAN & WAKEFIELD

SALFORD QUAYS 1984 – 2012 MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

SALFORD QUAYS OLD INDUSTRIAL DAYS AND DECLINE

1936

MOSCOW URBAN FORUM

1981

CUSHMAN & WAKEFIELD

SALFORD QUAYS PLANNING AND FIRST STEPS

1985

MOSCOW URBAN FORUM

1991

CUSHMAN & WAKEFIELD

SALFORD QUAYS PHASES

1999

MOSCOW URBAN FORUM

2005

CUSHMAN & WAKEFIELD

SALFORD QUAYS 2005 AND ONWARDSMOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

SALFORD QUAYS 2005 AND ONWARDSMOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

SALFORD QUAYS 2010MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

SALFORD QUAYS 2012MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 2

ONLY INDEPENDENT PRIVATE DEVELOPERS CAN DO GREAT

ТОЛЬКО ЧАСТНЫЕ ДЕВЕЛОПЕРЫ МОГУТ СОЗДАВАТЬ КАЧЕСТВЕННЫЕ ПРОЕКТЫ

CUSHMAN & WAKEFIELD

LONDON OLYMPIC PARK - NOVEMBER 2008

200+ BUSINESSES RELOCATED FROM INDUSTRIAL AREAMOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

COMPLETED MARCH 2012

6 MONTHS EARLY & $750 MLN UNDER BUDGETMOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 3

NORMAL DEVELOPMENT FINANCE CAN DELIVER SUCCESS

РЕГЕНЕРАЦИЮ МОЖНО ФИНАНСИРОВАТЬ КАК ОБЫЧНЫЙ ДЕВЕЛОПМЕНТ

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CUSHMAN & WAKEFIELD 17

There is fundamental mis-match between theory of the destination versus the reality of short term funding of the developer

Site

value

($)

time5 Years

Break Even

Conventional Property Development

Destination Development

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 4

PRIVATE SECTOR CAN PAY FOR THE INFRASTRUCTURE

ЧАСТНЫЙ СЕКТОР ПРОФИНАНСИРУЕТ ИНФРАСТРУКТУРУ

CUSHMAN & WAKEFIELD

DON’T EXPECT THE PRIVATE SECTOR TO SORT OUT INFRASTRUCTURE MOSCOW URBAN FORUM

Cardiff Bay 1988 – 2002: Starting with Infrastructure Investment in motor way tunnel and the barrage $450million and $2.5billion investment resulting

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 5

YOU CAN LEAVE MANAGEMENT OF PUBLIC DOMAIN TILL LATER

УСТРОЙСТВО ОБЩЕСТВЕННЫХ ПРОСТРАНСТВ МОЖНО ОСТАВИТЬ НА ПОТОМ

CUSHMAN & WAKEFIELD

DO HAVE A REALISTIC PLAN FOR PUBLIC DOMAIN MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 6

WE CAN STICK TO OUR PLAN, IT’S STRONG ENOUGH TO SUSTAIN ECONOMIC CYCLE

MЫ БУДЕМ ДЕЙСТВОВАТЬ СТРОГО ПО ПЛАНУ, ОН ВЫДЕРЖИТ ЛЮБЫЕ ЭКОНОМИЧЕСКИЕ КОЛЕБАНИЯ

CUSHMAN & WAKEFIELD

TIMING IS CRUCIAL MOSCOW URBAN FORUM

15 years of boom in the UK real estate sector Brindley Place Central Birmingham

CUSHMAN & WAKEFIELD

CARLSBERG (COPENHAGEN) FALL AFTER 2008 — NO POINT IN HURRYING MOSCOW URBAN FORUM

Carlsberg – 2008 strategy for 32 Ha halted whilst the investment economy sorts itself out – no point in hurrying when can get the planning right!

Unique use of their heritage and brand reputation and the Carlsberg Heritage Visitor centre to keep up progress in the development.

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 7

THE CITY GOVERNMENT CAN MAKE ALL THIS HAPPEN ON IT’S OWN

ГОРОД МОЖЕТ СПРАВИТЬСЯ С ПРОЕКТОМ САМОСТОЯТЕЛЬНО

CUSHMAN & WAKEFIELD

Development Corporations with strategy, planning and infrastructure funding

role are key for successMOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 8

IDEALLY YOU WANT MASSIVE TRANSFORMATIONAL PROJECTS

ДЛЯ УСПЕХА НУЖНЫ МАСШТАБНЫЕ ЗНАКОВЫЕ ПРОЕКТЫ

MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

WHALES MILLENNIUM OPERA HOUSE — $350 mln 2000

MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

CARDIFF BAY TUBE, 1992 – $600K

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 9

A SPECIALIST STRATEGY IS WHAT WE NEED HERE!

МЫ ДОЛЖНЫ СОЗДАТЬ ТЕМАТИЧЕСКИЙ ДЕВЕЛОПМЕНТ

CUSHMAN & WAKEFIELD

SALFORD MEDIA CITY / BBC 5000 jobs

A HAPPY ACCIDENT — NOT A PLAN!MOSCOW URBAN FORUM

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMMYTH # 10

WHAT WE NEED TO DO FIRST IS PICK A GREAT ARCHITECT

ПЕРВЫМ ДЕЛОМ НАМ НУЖЕН ЗВЕЗДНЫЙ АРХИТЕКТОР

CUSHMAN & WAKEFIELD

GLASGOW SCIENCE CENTER MOSCOW URBAN FORUM

Don’t expect miracles from the architect – they need a commercially realistic brief.

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUM

BUT WHEN YOU GET IT RIGHT — IT’S WORTH ALL THE TROUBLE

ЕСЛИ ВСЕ СДЕЛАТЬ ПРАВИЛЬНО — ОНО ТОГО СТОИТ

CUSHMAN & WAKEFIELD

GUNWHARF QUAYS, PORTSMOUTH ENGLAND MOSCOW URBAN FORUM

Former Military Base now Mixed use destination – Leisure, Retail, heritage, tourism, residential

CUSHMAN & WAKEFIELD

AKER BRUGGE, OSLOMOSCOW URBAN FORUM

Former Coal Quays – summer and winter destination strategy

CUSHMAN & WAKEFIELD

GRANVILLE ISLAND, VANCOUVERMOSCOW URBAN FORUM

From industry to world class waterfront destination using recycled buildings & community energy

CUSHMAN & WAKEFIELD

MOSCOW URBAN FORUMKEY LESSON LEARNED

• YOU CAN’T REACH AGREEMENT WITH EVERYONE: ALIGN INCENTIVES NOT INTERESTS

• SMALLER SHARE OF BIGGER PIE WORTH MORE THAN A LARGE SHARE OF A SMALL PIE

• REGENERATION PROJECTS TAKE LONGER THAN DEVELOPMENT FINANCE

• FOCUS PUBLIC INTERVENTION ON INFRASTRUCTURE FIRST

• CREATE CONDITIONS FOR SUCCESS, DON’T TRY TO PICK WINNERS

• ASSET MANAGEMENT IS CRUCIAL TO URBAN REGENERATION

• CREATE A DESTINATION WHERE YOU CAN COME, GROW, AND STAY

• REACH OUT TO LOCALS BEFORE YOU’VE MADE UP YOUR MIND