Disposal of Leasehold Interest with Associated Performance Requirements – Enterprise Arcade, Southpo...

<p>This marketing exercise is being undertaken to allow Sefton Council to offer to an appropriate party a lease hold interest in the Enterprise Arcade &ndash; Southport. Southport has recently been awarded &pound;37.5m in the first stage of the Government&rsquo;s &lsquo;Town Deal&rsquo; Programme. Sefton Council is accountable body for the Town Deal, and owner of the building proposed for the project. Diversification of the economy in Southport remains a priority. Southport&rsquo;s economy is characterised by a relatively high proportion of part-time jobs. There is a concentration of jobs in the wholesale and retail trade, with relatively high numbers employed in the accommodation and food services industries which are exposed to economic shocks related to Covid-19. Jobs in health and social work activities and in the arts, entertainment and recreation trades are also higher than the regional and national averages. The dominance of visitor economy and retail sectors therefore has a disproportionate effect on Southport&rsquo;s labour market. Enterprise Arcade Project Summary and Vision: The creation of a new incubator and business space, which will provide an opportunity for the progressive and imaginative nature of Southport's emerging creative, digital and tech sector to thrive. The first phase of this, as funded via the &pound;1.5m Town Deal investment will deliver the refurbishment of the landmark Crown Buildings in Eastbank Street , the creation of 898 square metres of space and is the subject of this exercise. The RIBA Stage 2 report (Appendix 2) sets out a wider ambition for a deliverable project for the Enterprise Arcade which would seamlessly integrate with the first phase of works to deliver potentially 1984 square metres of total floorspace through indicative future phasing. Sefton Council would also welcome proposals from respondents who share this same vision and can articulate how they would intend to work with Sefton Council to achieve this ambition. The design departs from a traditional workplace setting to account for changing times and will capture Southport&rsquo;s distinctive entrepreneurial character, also reflecting a wider market shift to more agile forms of working post pandemic. The emphasis on smart tech resources, allowing more control and contributing to Net Carbon Zero targets add to a development that will help demonstrate the ability to repurpose redundant upper floor accommodation prevalent within the Southport historic core. The Enterprise Arcade and its connection to wider opportunities in the adjacent Atkinson complex and the recently refurbished Southport Market, will provide space for events and networking to encourage cross collaboration, innovation and business growth. Key will be using the space to integrate education and young people with business and innovation: partnering with schools, colleges and universities. &lsquo;Enterprise Arcade&rsquo; and the complementary redevelopment of Southport Market as a food, drink and events space support the development of a focused Creative and Digital district identified within the Southport Town Investment Plan, to play host to a vibrant cluster and community of businesses and like-minded individuals. The recently opened and already popular Southport Market is located within 90m of the Enterprise Arcade. Opportunities and strengths &bull; More than 1 million working age people within a 45-minute commute. Within this commuter catchment businesses potentially have access to 380,000 people qualified to NVQ4 or above &bull; Educational attainment is higher in Southport than the national average with primary school outcomes above Sefton and national averages for achieving Level 4+ in all three reading, writing and mathematics. &bull; Southport Secondary schools achieve outcomes higher than the national averages for percentage of pupils achieving 5A*C including English and Mathematics &bull; Southport exhibits a relatively strong representation of small businesses employing 10 to 49 people (13.9% of all businesses compared to 13.4% in the North West) &bull; There is an active and growing collective of Digital &amp; Creative SME&rsquo;s &bull; Our consultation on the Town Deal bid has evidenced the need to overcome property barriers to enterprise formation and growth &bull; Southport has potential to develop professional and business service sector &ndash; 62,000 people working in the sector with commuting catchment area &bull; Direct digital connectivity globally via transatlantic fibre cables landed locally, and the role out of Liverpool City Regions gigabit network is a source of comparative advantage</p>