Albert Dock primed for ‘colossal tourism’
Aug 6 2007 by Bill Gleeson, Liverpool Daily Post
THE Albert Dock has a long way to go before it will become profitable, according to its recently appointed boss.
Albert Dock director Joe Edge, who started in his new post at the waterfront tourist and leisure attraction two weeks ago, claimed the business was well placed to take advantage of nearby developments, but had a long way to go before it would become profitable for its owner, London- based property group Arrowcroft.
Commenting on financial losses in excess of £1m and debts of £24m shown in the Albert Dock Company’s accounts, Mr Edge said: “We have got a long way to go, but we are in a long term business and we are not in it for short term gain, but for the long haul. The route is to increase the lettings and increase the number of people coming to visit. What is important is what is happening around us – the Arena: business tourism is absolutely colossal.”
Mr Edge was speaking in a podcast interview with Daily Post business editor Bill Gleeson.
Mr Edge said: “It is not just the Arena. Liverpool One will also bring people to our door and by 2010, when Mann Island is completed.”
He added: “All our research is telling us that the Albert Dock is quite unique. It is a World Heritage Site and a not-to-miss visitor attraction. So what we are deter-mined to do is to make sure all the vacant space dovetails into what we have already. We will leave the knickers and shoes to Grosvenor.”
Mr Edge, who used to run Liverpool’s Central Shopping Centre at Central Station, said that three new restaurants are in talks to take space at the dock, which already boasts a range of venues including Est Est Est, Baby Blue, Ha Ha and Pan American Bar and Grill.
It was decided more than a year ago to switch the Albert Dock’s strategy away from retail to attracting more bars and restaurants to cope with the extra trade expected from the new facilities being constructed nearby.
Mr Edge continued: “We have brought in retail in the past which has not worked so well recently. I think it didn’t work because of the competition. The Albert Dock was in isolation. We are now in a completely different situation with the new cruise liner terminal opening in September, which will increase the number of visitors. We have the ACC to look forward to opening in January. We also have the Mann Island site and Grosvenor directly opposite.
“We are in a position where we will no longer be in isolation but slap-bang in the middle of everything.”
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