TAMESIDE COUNCIL LEADER
AS many of you may already know, as well as being the executive leader of Tameside council I am also the chair of the Greater Manchester Pension Fund (GMPF), the largest public sector pension fund in the country.
In my role as chair, it was my pleasure to be in attendance on a remarkable day for Manchester on November 15, as we celebrated the topping out of Deansgate Square. Based in the southern edge of the city centre, the development ● consists of four skyscrapers, one of which now stands as not only the tallest building in Manchester, but the tallest building in the country outside of London.
This is the point where you might be asking “What does the Pension Fund have to do with a building in Manchester?” The GMPF has supported the construction of Deansgate Square through a £30 million loan.
Since its establishment in 1990, the GMPF has developed more than one million square feet of commercial buildings within Greater Manchester. The Pension Fund also set up Matrix Homes, whose innovative development programme has led to the successful construction of 240 high-quality family homes across five sites in Manchester.
Tameside itself has also benefited from significant investment by the GMPF.
The base of operations for the fund is the state-of-the-art Guardsman Tony Downes House in Droylsden. We’re also looking at options for developing the fund’s plots of land in Stalybridge, bringing further housing and business opportunities to one of our towns.
All of these investments have been guided by the Pension Fund’s twin aims; providing a commercial return that will allow us to continue to meet our obligations to our members, and supporting the redevelopment and regeneration of our local area.
Pension Funds are in a unique position to make this a reality, as our financial strength means that we can deliver the firepower necessary to make significant developments happen.
We’re also an investor for the long term.
Finally, and I truly believe that this is the most important reason; we are embedded within our local communities. Providing our members with comfort and dignity in their retirement and investing in things that make their lives better is at the very heart of who we should be as a pension fund.
When looking at it that way you can see the true significance of the ceremony at Deansgate Square. As impressive as it was, it is but one piece of the GMPF’s wider ambition for Greater Manchester. It’s an ambition of a city region of opportunity for all, a city region of world-class infrastructure and productivity, a city region that is the best place in the UK, if not the world, to live and work.
Coun Brenda Warrington