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BARCLAYS BOMBSHELL
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| STAYING PUT: Barclays House in Poole |
BARCLAYS has dropped a bombshell by abandoning a move to new offices in Poole, leaving its future in the town in the balance.
The company has U-turned on a year-long commitment to move Barclays House staff to a custom-designed office scheduled for development in West Quay Road - leaving the developer and Poole council shocked.
Instead, Barclays will be staying-put in the iconic 30-year-old building on Wimborne Road, which was branded "not fit for purpose for the future" by a Barclays spokesman last year.
While Barclays says it will "look at options to improve" the building, its long-term future remains uncertain.
A spokesman said: "Barclays will continue to keep its property options under review, and remains committed to the region."
But the question of whether it will stay in Poole, or even within the conurbation, remains unanswered.
When pushed the spokesman would not comment on the extent of the "region" being considered for any potential move.
Meanwhile the programme of job cuts continues. Barclays House had some 2,500 staff at the beginning of last year but that number will be slashed to 800-900 by 2010, which would fill just a fraction of the giant triple towers' capacity.
In a statement Barclays said: "The prospective costs of relocating to and occupying the new building have significantly changed."
But the multi-million-pound business denied the global economic downturn had any bearing on its sudden move.
| “Barclays will continue to keep its property options under review, and remains committed to the region.” | | Barclays' spokesman |
|
A spokesman added: "It's a commercial decision. We would have done the same thing if the situation was the same under any other circumstances."
But yesterday the developer - landowner Asda, which is working with Marsh Life - said it was "surprised and disappointed at Barclays decision to withdraw".
Jonathan Refoy, head of property communications and planning at Asda, said: "As was agreed between all parties, costs had moved in line with market fluctuations and Barclays have been kept informed throughout."
He added: "We are urgently seeking discussions with Barclays to further understand the details of its decision."
The pull-out will halt work on the development, due to start in November ready for a 2010 opening, scuppering, in the short term at least, a key element in Borough of Poole's vision for regenerating the area.
Mr Refoy added: "We will now review options for the site."
Jim Bright, strategic director for Borough of Poole, said the council would continue to work with Barclays "to ensure Poole remains part of its long-term business plans for the region".
He added: "We believe Barclays' decision reflects the current economic climate both nationally and internationally."
Council leader Cllr Brian Leverett expressed disappointment at the news.
7:00am Friday 18th July 2008
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CommentPosted by: John, Poole on 7:38am Fri 18 Jul 08
[quote]He added: "We believe Barclays' decision reflects the current economic climate both nationally and internationally."[/quote]
This decision has more to do with the dithering of Poole Council, rather than being Gordon Brown's fault like everything else.
At least, it looks as if Brian Leverett is to get the sought after legacy that he so craves - empty blocks of offices and flats all over Poole; [bold]very appropriate for an empty blockhead![/bold] Thank goodness Poole Council taxpayers made the decision for him that they did not want his Solar Pyramid.
You can bank on this not being this Council's only failure to achieve its grandiose schemes. Still, they can always continue to blame the Government for anything that goes wrong.
He added: "We believe Barclays' decision reflects the current economic climate both nationally and internationally."
This decision has more to do with the dithering of Poole Council, rather than being Gordon Brown's fault like everything else.
At least, it looks as if Brian Leverett is to get the sought after legacy that he so craves - empty blocks of offices and flats all over Poole;
very appropriate for an empty blockhead! Thank goodness Poole Council taxpayers made the decision for him that they did not want his Solar Pyramid.
You can bank on this not being this Council's only failure to achieve its grandiose schemes. Still, they can always continue to blame the Government for anything that goes wrong.
Posted by: rook, poole on 9:03am Fri 18 Jul 08
Someone [italic]really[/italic] said [quote]"It's a commercial decision. We would have done the same thing if the situation was the same under any other circumstances."[/quote] ? I suppose you can't fault their consistency!
I think you'll find the "region" they mention will cover most of the Mumbai connurbation.
But seriously, is there no substance to the rumour that the building's usage is to be increased - including the relocation of some management from London to Poole? The area (Sandbanks) has had quite a lot of favorable publicity recently which might attract certain high-earners to the area.
Someone
really said
"It's a commercial decision. We would have done the same thing if the situation was the same under any other circumstances."
? I suppose you can't fault their consistency!
I think you'll find the "region" they mention will cover most of the Mumbai connurbation.
But seriously, is there no substance to the rumour that the building's usage is to be increased - including the relocation of some management from London to Poole? The area (Sandbanks) has had quite a lot of favorable publicity recently which might attract certain high-earners to the area.
Posted by: Grumble, Oakdale on 9:11am Fri 18 Jul 08
I think you'll find this is more to do with Barclays currently holding a lot of (un-declared) sub-prime bad debt and not having the liquid cash required; this probably also explains why Barclays are currently out-sourcing another 2,000 UK tech jobs to low cost countries, ooops, I mean "off-shore centres of technical excelence"!.
I think you'll find this is more to do with Barclays currently holding a lot of (un-declared) sub-prime bad debt and not having the liquid cash required; this probably also explains why Barclays are currently out-sourcing another 2,000 UK tech jobs to low cost countries, ooops, I mean "off-shore centres of technical excelence"!.
Posted by: Lobo, Poole on 9:13am Fri 18 Jul 08
It's nothing to do with government or the local council - it's purely down to a change in the upper management - the guy who wanted the move (because he disliked anything other than square buildings) has gone and the new guy is making his presence felt.
It's nothing to do with government or the local council - it's purely down to a change in the upper management - the guy who wanted the move (because he disliked anything other than square buildings) has gone and the new guy is making his presence felt.
Posted by: muffin the mule, wallisdown on 9:22am Fri 18 Jul 08
Its not so difficult to understand ,labour costs in britain are out of sync with the rest of the world ,taxes and energy costs are off the scale and continuing to rise - why wouldnt you relocate to a country that gives you a greater return on your investment? there will be many more to follow. we are supporting to many people who dont belong here,and amongst those that do there is a strong element who are never going to work because the benefits system supports them too well ...its costing the tax-payer billions every year .
barclays is a fine temperature gauge for the economic future they know this country is in the s*it and they arent investing so look out ...we're in trouble !!!
Its not so difficult to understand ,labour costs in britain are out of sync with the rest of the world ,taxes and energy costs are off the scale and continuing to rise - why wouldnt you relocate to a country that gives you a greater return on your investment? there will be many more to follow. we are supporting to many people who dont belong here,and amongst those that do there is a strong element who are never going to work because the benefits system supports them too well ...its costing the tax-payer billions every year .
barclays is a fine temperature gauge for the economic future they know this country is in the s*it and they arent investing so look out ...we're in trouble !!!
Posted by: Adrian X, Poole on 9:44am Fri 18 Jul 08
muffin the mule, while it is true labour costs here are much higher than India or China, they are not as high as most of europe. Fuel costs are also similar to Europe. Unemployment is also much lower here than in France, Germany or Spain.
But, since we cannot beat the Chinese and Indians on price, we need to beat them on technology and scientific know how. Here, we certainly look doomed, since no one is studying physics any more and software engineering courses are unavailable in schools. University software courses are severely lacking.
muffin the mule, while it is true labour costs here are much higher than India or China, they are not as high as most of europe. Fuel costs are also similar to Europe. Unemployment is also much lower here than in France, Germany or Spain.
But, since we cannot beat the Chinese and Indians on price, we need to beat them on technology and scientific know how. Here, we certainly look doomed, since no one is studying physics any more and software engineering courses are unavailable in schools. University software courses are severely lacking.
Posted by: Benjamin, Hamworthy on 9:57am Fri 18 Jul 08
Maybe we will still be able to have a view across Holes Bay to look at then!
Maybe we will still be able to have a view across Holes Bay to look at then!
Posted by: muffin the mule, wallisdown on 11:23am Fri 18 Jul 08
[quote][bold]Adrian X[/bold] wrote:
muffin the mule, while it is true labour costs here are much higher than India or China, they are not as high as most of europe. Fuel costs are also similar to Europe. Unemployment is also much lower here than in France, Germany or Spain.
But, since we cannot beat the Chinese and Indians on price, we need to beat them on technology and scientific know how. Here, we certainly look doomed, since no one is studying physics any more and software engineering courses are unavailable in schools. University software courses are severely lacking.
[/quote] beat them on technology you say - take a look on any piece of equipment you buy,even that from the 'big names' and it says ....... made in china..or.. made in india ... we are not streets ahead of them. they buy the technology from japan or thailand ,we are dragging our heels. i accept that costs are rising in europe but europe in general is a massive tourist industry machine ,they are not manufacturers so they are set for deeper recession if it comes because holidays go in the first wave.we are becoming the 'third world' country and very rapidly.
Adrian X wrote:
muffin the mule, while it is true labour costs here are much higher than India or China, they are not as high as most of europe. Fuel costs are also similar to Europe. Unemployment is also much lower here than in France, Germany or Spain.
But, since we cannot beat the Chinese and Indians on price, we need to beat them on technology and scientific know how. Here, we certainly look doomed, since no one is studying physics any more and software engineering courses are unavailable in schools. University software courses are severely lacking.
beat them on technology you say - take a look on any piece of equipment you buy,even that from the 'big names' and it says ....... made in china..or.. made in india ... we are not streets ahead of them. they buy the technology from japan or thailand ,we are dragging our heels. i accept that costs are rising in europe but europe in general is a massive tourist industry machine ,they are not manufacturers so they are set for deeper recession if it comes because holidays go in the first wave.we are becoming the 'third world' country and very rapidly.
Posted by: Jayteer, Bournemouth on 12:33pm Fri 18 Jul 08
Couldnt have happened to a nicer bank- My how the wheels of time have changed!
A few years ago banks were spraying people with money and making crippling interest off them- now that the banks are struggling, they are trying to get the very people they helped into debt to bank their savings with them, as the credit system no longer works.
Barclays screwed me over for £2000- Faced with a very rude employee who clearly didnt want to help me over the phone, i took them to court- AND WON.The employee was sacked.
I closed down my accounts with them as a result- I now have substantial amounts of money that i have to bank,and would never even remotely consider putting it into their bank-This despite them writing to me constantly to reinstate my accounts in full.
Its high time banks remembered that what goes around comes around- the people they screwed over with easy interest wont come back to them.
I wish Barclays as a commercial institution all the worst- When an institution like this is run by primates, then you can expect bananas!
Couldnt have happened to a nicer bank- My how the wheels of time have changed!
A few years ago banks were spraying people with money and making crippling interest off them- now that the banks are struggling, they are trying to get the very people they helped into debt to bank their savings with them, as the credit system no longer works.
Barclays screwed me over for £2000- Faced with a very rude employee who clearly didnt want to help me over the phone, i took them to court- AND WON.The employee was sacked.
I closed down my accounts with them as a result- I now have substantial amounts of money that i have to bank,and would never even remotely consider putting it into their bank-This despite them writing to me constantly to reinstate my accounts in full.
Its high time banks remembered that what goes around comes around- the people they screwed over with easy interest wont come back to them.
I wish Barclays as a commercial institution all the worst- When an institution like this is run by primates, then you can expect bananas!
Posted by: crust2007, poole on 1:00pm Fri 18 Jul 08
thank goodness this wont happen!
after they teared down tht lovely old fire station on wimborne road,its good to know it wont happen to another old great building
thank goodness this wont happen!
after they teared down tht lovely old fire station on wimborne road,its good to know it wont happen to another old great building
Posted by: Adrian X, Poole on 1:53pm Fri 18 Jul 08
to muffin the mule, you are correct when you say much technology is manufactured in China or India. It is not, however, designed there. Most mobile phone sofware, as just one example, is still developed in europe due to the high level of expertise here. Nokia's software is of course all developed in Finland, but here in the UK, just a few years ago we had Motorola in Swindon, Ericsson in Basingstoke, NEC in Reading, Panasonic and Samsung nearby (I can't remember the exact location) and the related technology of private mobile radio: Motorola in Basingstoke and Philips in Cambridge.
Some of those companies still choose to do their development here but some have moved due to inability to get quality staff.
to muffin the mule, you are correct when you say much technology is manufactured in China or India. It is not, however, designed there. Most mobile phone sofware, as just one example, is still developed in europe due to the high level of expertise here. Nokia's software is of course all developed in Finland, but here in the UK, just a few years ago we had Motorola in Swindon, Ericsson in Basingstoke, NEC in Reading, Panasonic and Samsung nearby (I can't remember the exact location) and the related technology of private mobile radio: Motorola in Basingstoke and Philips in Cambridge.
Some of those companies still choose to do their development here but some have moved due to inability to get quality staff.
Posted by: Badger, Poole on 2:09pm Fri 18 Jul 08
[quote][bold]crust2007[/bold] wrote:
thank goodness this wont happen! after they teared down tht lovely old fire station on wimborne road,its good to know it wont happen to another old great building[/quote] 'old great building', are you mad? The barclay building is a monstrous carbunkle, a blot on the skyline of Poole.
Lets hope that they do pull it down!
crust2007 wrote:
thank goodness this wont happen! after they teared down tht lovely old fire station on wimborne road,its good to know it wont happen to another old great building
'old great building', are you mad? The barclay building is a monstrous carbunkle, a blot on the skyline of Poole.
Lets hope that they do pull it down!
Posted by: muffin the mule, wallisdown on 2:36pm Fri 18 Jul 08
[quote][bold]Adrian X[/bold] wrote:
to muffin the mule, you are correct when you say much technology is manufactured in China or India. It is not, however, designed there. Most mobile phone sofware, as just one example, is still developed in europe due to the high level of expertise here. Nokia's software is of course all developed in Finland, but here in the UK, just a few years ago we had Motorola in Swindon, Ericsson in Basingstoke, NEC in Reading, Panasonic and Samsung nearby (I can't remember the exact location) and the related technology of private mobile radio: Motorola in Basingstoke and Philips in Cambridge.
Some of those companies still choose to do their development here but some have moved due to inability to get quality staff.
[/quote] fair comment adrian x but design is only a very small part of the process and only earns for the design team and that could be one person ,manufacture however employs vast teams of people who by the very fact that they handle the product and its processes develop their own ideas and understand the technology very quickly because they have little else to distract them, i know for a fact that many IT based companies in bournemouth ,never mind anywhere else,employ far eastern and especially indian technicians in their outfits here ,they are highly skilled ,very intelligent,work non stop like robots and are happy to do so and few british workers can compete with them ,they have a work ethic that is lost in our lazy culture,we are going to pay the price for giving away all this information because besides realising their value to us they quickly understand their value in the wagepacket ,they are no longer the cheap option and once you hand over the manufacturing and you cant do it in your own country because your workforce have gone then the cheapo man in india or china says 'more money or no output' and they are then the masters and they want the same standards and conditions that we now enjoy ,but who supplies them ? not us we dont have that ability any longer . they end up with total control,isnt that history turning the tables eh
Adrian X wrote:
to muffin the mule, you are correct when you say much technology is manufactured in China or India. It is not, however, designed there. Most mobile phone sofware, as just one example, is still developed in europe due to the high level of expertise here. Nokia's software is of course all developed in Finland, but here in the UK, just a few years ago we had Motorola in Swindon, Ericsson in Basingstoke, NEC in Reading, Panasonic and Samsung nearby (I can't remember the exact location) and the related technology of private mobile radio: Motorola in Basingstoke and Philips in Cambridge.
Some of those companies still choose to do their development here but some have moved due to inability to get quality staff.
fair comment adrian x but design is only a very small part of the process and only earns for the design team and that could be one person ,manufacture however employs vast teams of people who by the very fact that they handle the product and its processes develop their own ideas and understand the technology very quickly because they have little else to distract them, i know for a fact that many IT based companies in bournemouth ,never mind anywhere else,employ far eastern and especially indian technicians in their outfits here ,they are highly skilled ,very intelligent,work non stop like robots and are happy to do so and few british workers can compete with them ,they have a work ethic that is lost in our lazy culture,we are going to pay the price for giving away all this information because besides realising their value to us they quickly understand their value in the wagepacket ,they are no longer the cheap option and once you hand over the manufacturing and you cant do it in your own country because your workforce have gone then the cheapo man in india or china says 'more money or no output' and they are then the masters and they want the same standards and conditions that we now enjoy ,but who supplies them ? not us we dont have that ability any longer . they end up with total control,isnt that history turning the tables eh
Posted by: crust2007, poole on 4:40pm Fri 18 Jul 08
[quote][bold]Badger[/bold] wrote:
[quote][bold]crust2007[/bold] wrote: thank goodness this wont happen! after they teared down tht lovely old fire station on wimborne road,its good to know it wont happen to another old great building[/quote] 'old great building', are you mad? The barclay building is a monstrous carbunkle, a blot on the skyline of Poole. Lets hope that they do pull it down! [/quote] its a landmark in poole,yh it may not look nice,buts its the first building u see coming into poole
Badger wrote:
crust2007 wrote: thank goodness this wont happen! after they teared down tht lovely old fire station on wimborne road,its good to know it wont happen to another old great building
'old great building', are you mad? The barclay building is a monstrous carbunkle, a blot on the skyline of Poole. Lets hope that they do pull it down!
its a landmark in poole,yh it may not look nice,buts its the first building u see coming into poole
Posted by: WIGGINS, BOURNEMOUTH on 4:47pm Fri 18 Jul 08
IS THAT NICE DOG TRACK STILL BEHIND THE BARCLAYS BUILDING? I SPENT MANY A HAPPY EVENING THERE DOING MY.....
IS THAT NICE DOG TRACK STILL BEHIND THE BARCLAYS BUILDING? I SPENT MANY A HAPPY EVENING THERE DOING MY.....
Posted by: Gastines, St.Malo ex Bournemouth on 5:14pm Fri 18 Jul 08
By today's news it seems that the Al-Thani family of Qatar might be a big investor in Barclay's,you never know you might have some seriously rich people developing the site. They not only talk, but have the cash behind them. Might be a different story for the Boscombe Reef cash back using a UK building company with SERIOUS cash flow problems.
By today's news it seems that the Al-Thani family of Qatar might be a big investor in Barclay's,you never know you might have some seriously rich people developing the site. They not only talk, but have the cash behind them. Might be a different story for the Boscombe Reef cash back using a UK building company with SERIOUS cash flow problems.
Posted by: Bobby, Purbeck on 6:18pm Fri 18 Jul 08
As someone who works in Poole I for one am delighted that the ridiculous idea of constructing a new Barclays building on the small parcel of land in front of Asda has been dropped. How this ever got planning permission is beyond me. The vast majority of the 800+ staff who were due to relocate from Barclays House to the new office use their cars to commute to work. Somehow the vast majority of these people were going to magically transition to using public transport even though it is either totally inadequate or non existent in the areas they live.
From what I understand, in addition to the obvious issue of the credit crunch, Barclays were having a major problem in trying to relocate all the people currently in Barclays House prior to the 2010 deadline, including third party company staff. There was also the small matter of what to do with the Bank’s archives block which is situated immediately behind the Barclays car park on the Stadium side. In my humble opinion the West Quay Road site idea was a total flight of fantasy and it would seem that for once common sense has prevailed. Hopefully Barclays can make their existing building pay its way – even if they have to lease out some of the floors to other companies, which I hear is something that they are considering.
Incidentally, I also fail to understand why Asda should want to totally screen off their store from the Holes Bay Road with a huge office block. Whilst locals may be aware of it they would surely have lost a lot of passing trade. Much better for them to build a petrol station on the site. Then they could really compete with Tesco at Fleetsbridge and Tower Park…..
As someone who works in Poole I for one am delighted that the ridiculous idea of constructing a new Barclays building on the small parcel of land in front of Asda has been dropped. How this ever got planning permission is beyond me. The vast majority of the 800+ staff who were due to relocate from Barclays House to the new office use their cars to commute to work. Somehow the vast majority of these people were going to magically transition to using public transport even though it is either totally inadequate or non existent in the areas they live.
From what I understand, in addition to the obvious issue of the credit crunch, Barclays were having a major problem in trying to relocate all the people currently in Barclays House prior to the 2010 deadline, including third party company staff. There was also the small matter of what to do with the Bank’s archives block which is situated immediately behind the Barclays car park on the Stadium side. In my humble opinion the West Quay Road site idea was a total flight of fantasy and it would seem that for once common sense has prevailed. Hopefully Barclays can make their existing building pay its way – even if they have to lease out some of the floors to other companies, which I hear is something that they are considering.
Incidentally, I also fail to understand why Asda should want to totally screen off their store from the Holes Bay Road with a huge office block. Whilst locals may be aware of it they would surely have lost a lot of passing trade. Much better for them to build a petrol station on the site. Then they could really compete with Tesco at Fleetsbridge and Tower Park…..
Posted by: debbie2110, bournemouth on 7:03pm Fri 18 Jul 08
Having twice had my role within a large local bank outsourced to Mumbai I can happily say the quality of the work is as good as work produced in the UK, I am also ecstatic to see the wages which were once about a tenth of the UK wage have improved dramatically and now sit at about a third and closing. The fact that existing UK staff are redeployed and given training to take on higher level work is conveniently never by the bah-humbug brigade! Plus many UK staff often put in far more hours than they actually get paid for!
Having twice had my role within a large local bank outsourced to Mumbai I can happily say the quality of the work is as good as work produced in the UK, I am also ecstatic to see the wages which were once about a tenth of the UK wage have improved dramatically and now sit at about a third and closing. The fact that existing UK staff are redeployed and given training to take on higher level work is conveniently never by the bah-humbug brigade! Plus many UK staff often put in far more hours than they actually get paid for!
Posted by: sussexcherry, sussex on 9:06pm Fri 18 Jul 08
Having spent the last few years working for them I am not in the least bit surprised that they have backtracked, they do this to staff all the time. Promises are not kept, overtime is not paid but has to be taken as time off when only suitable to them. I once worked 16 saturdays on the trot because of staff shortages, and they even asked me to come in for the saturday of my holiday!! Dont be shocked by anything they do, because there are way too many chiefs but very few indians, and the chiefs cant agree on anything.
Having spent the last few years working for them I am not in the least bit surprised that they have backtracked, they do this to staff all the time. Promises are not kept, overtime is not paid but has to be taken as time off when only suitable to them. I once worked 16 saturdays on the trot because of staff shortages, and they even asked me to come in for the saturday of my holiday!! Dont be shocked by anything they do, because there are way too many chiefs but very few indians, and the chiefs cant agree on anything.
Posted by: John, Poole on 11:38pm Fri 18 Jul 08
I thought they had hoards of Indians at their disposal in Mumbai, Bangalore,etc. !
I thought they had hoards of Indians at their disposal in Mumbai, Bangalore,etc. !
Posted by: Tim M, usa on 1:59am Sat 19 Jul 08
"It's a commercial decision. We would have done the same thing if the situation had been the same under any other circumstances."
OK. When did George Bush become a flak for Barclays?
"It's a commercial decision. We would have done the same thing if the situation had been the same under any other circumstances."
OK. When did George Bush become a flak for Barclays?
Posted by: paul, poole on 8:34pm Sun 20 Jul 08
Hahahahahehehehehehe
e ROFL!
Hahahahahehehehehehe
e ROFL!
Posted by: MJD, HAMWORTHY on 7:40am Mon 21 Jul 08
Thank god one less eye sore to look at.
Thank god one less eye sore to look at.
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