Crash barrier contractor gears up for growth following management buy-out

April Lara
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Crash barrier contractor gears up for growth following management buy-out

Protek Fencing, a leading UK contractor specialising in motorway crash barriers, has completed a multi-million-pound management buy-out (MBO) with backing from Mercia Debt.

The MBO sees Managing Director Kristoffer Sharp and Commercial Manager Matthew Pickering take control of the business, facilitating the retirement of former Contracts Director Scott Clayton.

Based in Leeds, Protek has secured a significant funding package to support its growth. Half of the funding is provided by Mercia’s SME Loans fund, with the remaining amount coming from NPIF II – Mercia Debt Finance, which is part of the Northern Powerhouse Investment Fund II (NPIF II).

This investment will support the company’s expansion, including new plant and technology, and enable it to bid for larger contracts, particularly in the area of bridge parapets.

Established in 1987, Protek focuses on road restraint systems such as safety barriers, pedestrian guardrails, and security fencing. It has completed major projects like the Armley Gyratory upgrade in Leeds and a barrier replacement project on the A69 between Carlisle and Newcastle.

The company currently employs 11 staff and aims to broaden its service offering by adding specialist parapet works and expanding its presence across the UK.

Mercia’s funding package supports Protek’s efforts to increase turnover and grow its business by investing in technology and infrastructure. The company plans to scale up its operations, aiming to secure larger frameworks and contracts across the UK.

Kris Sharp, Managing Director, said: “Nearly four decades of quality and reliability have given Protek its reputation. Our goal is to increase turnover by adding specialist parapet works and expanding our footprint across the UK.” Gary Whitaker, Investment Director at Mercia, added: “Kris and Matt have the sector knowledge and drive to take Protek to the next level. Our tailored package not only funds the buy‑out but equips the business for immediate growth.”

LCF Law makes key appointment and promotions

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LCF Law makes key appointment and promotions
Yorkshire law firm, LCF Law, has made a significant senior appointment and two internal promotions. Sarah Hargreaves has been appointed as head of human resources (HR) at the firm. With 25 years’ experience in HR, Sarah brings a wealth of strategic and hands-on expertise from a broad range of industries including technology, education, and professional services. She has helped several technology companies scale-up and guided them through periods of rapid growth. Most recently she worked at Yorkshire Water as an HR business partner. Reflecting on her career to date, Sarah said: “I started working in HR initially taking a temporary role on return from travelling. I was planning to teach after studying English but found HR really interesting and engaging. “What drew me to LCF Law was the opportunity to really shape the people agenda. There’s a clear business strategy in place, and I want to ensure our people strategy aligns, enabling colleagues to thrive and develop, whilst all working towards the same growth goal.” Sarah will also focus on supporting staff wellbeing, developing the organisational culture, and embedding tools that help everyone to work smarter. Alongside Sarah’s appointment, Erin Keeling has been promoted to human resources adviser. Erin joined LCF Law in July 2024 as an HR administrator, having previously been a professional ballet dancer, before moving into insurance and business administration following an injury. Since joining, Erin has played a pivotal role in HR operations, particularly during a transitional period whilst a new head of HR was recruited. Erin is currently completing her Level 5 CIPD qualification and is leading initiatives around employee wellbeing, employee engagement and performance reviews. Leanne Rogers, meanwhile, has been promoted to accounts team leader. Leanne, who has been with LCF Law for almost 20 years, now manages a team of five within the accounts department. Having joined the profession straight from school, Leanne has witnessed the legal industry’s transformation firsthand. “When I first started working at LCF Law we had to dial-up the bank from one modem in the corner every 15 minutes and print off receipts for transactions! Of course, everything is now paperless, and the pace of change has been phenomenal.” Leanne added: “I’ve grown with the role and the firm over the years, and it’s a really great place to work. I’ve also had the opportunity to gain new qualifications and am currently part way through a three-year associate qualification with the Institute of Legal Finance and Management (ILFM), which the firm is very supportive of.” LCF Law’s managing partner, Ragan Montgomery, said: “These appointments reflect our ongoing commitment to attracting senior hires that have a strategic and people led approach to helping grow the business, whilst also nurturing and promoting from within. “Our goal is to ensure that our team are all fully equipped to support the firm’s growth and evolution, and Sarah, Erin and Leanne all play an invaluable part in this.”

£48m secured for major improvements along Penistone Rail Line

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£48m secured for major improvements along Penistone Rail Line
Kirklees Council has been awarded £48m by the government to improve local stations and make train travel more convenient and comfortable along the Penistone Line route. This recent announcement follows the initial Levelling Up bid which was made to the government in 2022 when Kirklees Council, along with partners – including neighbouring councils in Barnsley and Sheffield, local MP’s and both the West and South Yorkshire Combined Authorities – made the proposals to overhaul the line between Huddersfield, Barnsley and Sheffield. The project will include improvements to Kirklees rail services and stations along the historic route including Lockwood, Berry Brow, Honley, Brockholes, Shepley, Stocksmoor and Denby Dale. Priorities along the route include improving accessibility and waiting facilities, upgrading rail infrastructure – including moving towards a larger scheme that would improve journey times and increase the service from hourly to half-hourly.

Councillor Moses Crook, deputy leader and cabinet member for transport and housing, said: “We are thrilled that Kirklees Council has been awarded this vital funding to improve our rail network – and now the green light to begin making progress towards delivery.

“This is more than just investment in our railways – it’s an investment in our communities and will make a real difference to residents living along the Penistone Line route and across Kirklees.

“The improvements will bring more reliable trains with better journey times between Huddersfield and Sheffield and will help to boost our local economy, support growth in Kirklees and improve connectively across the north. “The Penistone Line is a crucial transport link, and it’s all part of our plans to make the Kirklees economy stronger, more regionally integrated and greener for future generations. These upgrades will open greater opportunities in education, employment, skills and health and wellbeing for residents across Kirklees.”

First phase of Florence Square development on Leeds’ South Bank approved

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First phase of Florence Square development on Leeds’ South Bank approved

The first phase of the Florence Square development in Leeds has received approval. This phase includes two office buildings that will provide over 220,000 sq ft of office space. The development is led by Southside Leeds Ltd, a joint venture between Shelborn Asset Management and Stamford Property Holdings.

The two buildings, Block A and Block B, will offer seven and nine storeys of office space, respectively, above ground-floor amenities including retail units, cafés, and restaurants. A new public square and a landscaped pocket park will form the heart of the development.

Florence Square is set to become part of the city’s South Bank regeneration, with potential for up to 500,000 sq ft of additional commercial, residential, and leisure space in future phases. The development will be positioned between the River Aire and the Leeds & Liverpool Canal.

The design focuses on sustainability, with ambitious goals in energy efficiency and health-conscious workspaces. The scheme aims to provide a flexible environment that can adapt to changing work patterns, aligning with the future of urban development.

Heron Foods outlines expansion plans with new stores and job creation

April Lara
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Heron Foods outlines expansion plans with new stores and job creation

Frozen food retailer Heron Foods is targeting expansion despite recent workforce reductions. The Hull-based company, which operates over 340 locations, revealed a drop in its workforce to 5,519 employees in the last financial year, following the loss of around 250 jobs.

However, the company has committed to opening 10 new stores in its current financial year, aiming to create new job opportunities. The expansion will primarily focus on the North and Midlands regions, though specific locations are yet to be confirmed.

Heron Foods is also considering relocating some of its existing stores to larger sites in order to improve the customer experience and increase foot traffic. The company is actively exploring new properties through both internal and external channels.

Alongside this, Heron is investing in refurbishments of its current stores to enhance sales and customer engagement. The company remains focused on cost control, a vital aspect for a discount food retailer, while continuing to invest in its infrastructure to streamline retail operations and distribution.

The company is also reviewing plans for potential expansions within its distribution network, although these are still in the early stages.

South Yorkshire startups can access new support for idea validation

April Lara
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South Yorkshire startups can access new support for idea validation

A new initiative in South Yorkshire is offering tech startups essential support to validate their ideas. The TECH SY project, funded by the South Yorkshire Mayoral Combined Authority, aims to accelerate the region’s tech sector by providing grants or consultancy services to early-stage businesses.

The Idea Validation Grant (IVG) provides up to £2,500 in financial support or £5,000 worth of consultancy services. The programme is designed to help startups assess the feasibility and potential of their business ideas before committing to large-scale product development. Funding can be used for activities such as market research or prototyping.

Alternatively, businesses can access mentorship from experienced entrepreneurs through Trove Ventures, which also offers a network of regional industry experts. This support is part of a wider strategy to strengthen the local tech ecosystem and provide founders with the resources needed to turn ideas into successful businesses.

The TECH SY programme has been gathering data on the region’s startup scene since its launch last year. It works closely with local industry leaders to identify effective ways of fostering innovation and scaling up the digital economy in South Yorkshire.

Startups interested in the Idea Validation Grant must be based in South Yorkshire and have an innovative project with high growth potential. Applicants should clearly outline how the grant or consultancy will help them validate their business idea or identify their target customers.

Tadweld highlights skills shortage in UK welding industry

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Tadweld highlights skills shortage in UK welding industry

The UK welding industry is grappling with a severe skills shortage, a problem that has become increasingly critical in recent years. With a rapidly aging workforce and insufficient new talent coming into the sector, the industry’s future is at risk. Tadweld, a North Yorkshire-based welding firm, has called attention to the growing gap in skilled welders, which is being exacerbated by the mass retirement of experienced professionals.

In 2023, the number of welding trainees in the UK had fallen dramatically, leaving a significant shortfall in the workforce. While training programmes have been put in place, such as those launched by the Engineering Construction Industry Training Board (ECITB), they have not been sufficient to close the gap. The shortage is particularly acute in critical sectors like nuclear, oil, and gas, which require thousands of welders to meet future demand.

The situation is projected to worsen in the coming years, with nearly half of the UK’s welding workforce expected to retire by 2027. This will create a need for more than 35,000 new skilled workers, but current training systems are not designed to meet this demand. In addition, the reliance on international recruitment for over 70% of new welders, combined with the increasing need for automation, is putting further pressure on the industry.

Tadweld, as part of the broader effort to address these challenges, is working to promote welding as a viable career path, with a focus on attracting younger talent. The company is calling for greater investment in apprenticeships and STEM education to ensure a steady flow of skilled workers into the sector. In addition, Tadweld believes that changing the industry’s image will play a key role in reversing the decline and ensuring long-term sustainability.

With a growing demand for skilled welders, particularly in the North Yorkshire region, it is clear that coordinated action from industry leaders, educational institutions, and government is essential to tackle the skills shortage head-on and secure the future of the welding industry in the UK.

Bank of England cuts interest rates to 4%

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Bank of England cuts interest rates to 4%
The Bank of England has cut interest rates to 4%, in line with market expectations. The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, has voted by a majority of 5 to 4 to reduce Bank Rate by 0.25 percentage points, rather than maintaining it at 4.25%. Alpesh Paleja, deputy chief economist, CBI, reacted: “While interest rates are now at their lowest in over two years, today’s cut is line with the ‘gradual and careful’ pace of loosening that the Monetary Policy Committee have flagged so far. Gradual, because the MPC is still caught between a rock and a hard place. “On the one hand, the labour market is cooling and economic growth looks set to be weaker than the Bank expected, strengthening the case for faster rate cuts. On the other, even with wage growth easing, price pressures remain stubborn. Inflation has come in higher than the Bank anticipated, and households’ inflation expectations are still uncomfortably high. “As the MPC continues to walk this tightrope, rate cuts are likely to remain gradual: we expect two more reductions, with interest rates settling at 3.5% early next year. But if the risks to the inflation outlook shift sharply in either direction, the pace of monetary loosening could look very different.”

Yorkshire distillery expands premium spirits portfolio with acquisition of 6 O’Clock Gin

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Yorkshire distillery expands premium spirits portfolio with acquisition of 6 O’Clock Gin
Ellers Farm Distillery, the owner of Dutch Barn Vodka, has acquired Bramley and Gage Limited, securing full ownership of the 6 O’Clock Gin brand. 6 O’Clock Gin joins Ellers Farm’s expanding portfolio of spirits. Ricky Gervais, co-owner of Ellers Farm Distillery, said: “I love what we’re building at Ellers Farm. The ambition to take great British spirits to the world is one of the reasons I got involved. We’ve got Dutch Barn Vodka, Y-Gin, a single malt whisky on the way, and now 6 O’Clock. Which is a good time to start drinking. PM, that is.” Chris Fraser, founder and CEO of Ellers Farm Distillery, added: “This is a big step in our long-term growth strategy. 6 O’Clock Gin is a respected premium gin brand, rooted in craft, character and connection. “It aligns perfectly with our values, and we’re excited to bring fresh energy, investment and international reach to the brand, while staying true to the qualities that have made it so well loved.” With plans already underway to expand distribution and marketing efforts, the company is poised to elevate 6 O’Clock Gin’s presence in the competitive gin category.

Yorkshire sees sluggish start to 2025 for mid-market private equity activity

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Yorkshire sees sluggish start to 2025 for mid-market private equity activity
Mid-market private equity investment in Yorkshire fell in the first half of this year, according to KPMG UK’s mid-year private equity pulse. The mid-year study into private equity deal activity found that interest in the region’s mid-market declined, with 24 deals completing and deal volumes falling by 20% compared to H1 2024. The findings reflect a backdrop of economic uncertainty, influenced by ongoing geopolitical developments and concerns surrounding the potential impact of trade tariffs. Bolt-ons remained the largest component of mid-market private equity activity across Yorkshire. Traditional and leveraged buyouts (LBOs) were the second largest deal type, followed by minority investments. Yorkshire’s mid-market private equity interest accounted for 6% of the total mid-market private equity backing in the UK. Deal activity in the mid-market slowed down across all regions in the UK, except the South West, which experienced increased activity in terms of deal volume, compared with the first half of 2024 (28 vs 22). Giles Taylor, head of corporate finance in Yorkshire at KPMG UK, said: “The Yorkshire private equity mid-market experienced a significant pullback in the first half of the year, with deal volumes down year-on-year. A more cautious investment climate, shaped by geopolitical tension and uncertainty around global trade, has understandably slowed deal progression. “That said, interest in the region remains, and we’re seeing real signs that investors are becoming more active, focusing on resilient sectors and quality assets. Strong activity levels through the summer, normally a seasonally quiet period, give real reason for optimism. With the Autumn Budget on the horizon and tariff impacts becoming clearer, we expect activity to pick up pace in the latter half of 2025.”

£12 million Harrogate transport upgrade to move forward after legal challenge dismissed

April Lara
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£12 million Harrogate transport upgrade to move forward after legal challenge dismissed

Harrogate’s £12 million transport revitalisation project is set to proceed after the High Court ruled against a legal challenge, clearing the way for key upgrades to the town’s infrastructure. The project, funded through the Transforming Cities Fund (TCF), aims to enhance accessibility, promote public transport, and improve connections to local services.

The plans include revamping Station Square and One Arch, along with adding new cycle lanes, better traffic signals, and improved pedestrian spaces around Harrogate Railway Station. The scheme also focuses on enhancing traffic flow on major junctions like King’s Road and Ripon Road.

In February, local campaigners led by A&E Baines Limited argued that the Traffic Regulation Orders (TROs) for the project were unlawful and claimed the consultation process had been inadequate. The challenge also raised concerns over the clarity and detail of the plans provided to the public.

However, after a detailed High Court hearing, the judge dismissed the case, backing the council’s handling of the project. The decision confirmed that the consultation process was thorough and that the impact assessments were legally sound.

This ruling paves the way for further developments in Harrogate, supported by a broader £38 million investment in transport upgrades across the Leeds City Region, including Skipton and Selby.

Scarborough’s updated investment plan to build on past efforts

April Lara
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Scarborough’s updated investment plan to build on past efforts

Scarborough’s updated Town Investment Plan is set to align with ongoing regional development efforts, drawing from previous strategies rather than creating new policies. The initiative aims to address key investment priorities for the town, building on prior work, including a series of past master plans, blueprints, and investment strategies.

The plan aims to consolidate existing objectives identified in the North Yorkshire economic strategy, the previous town investment plan, and the 2021 Scarborough Blueprint, which collectively outline the town’s vision, priorities, and success measures. The emphasis will be on tackling long-standing inequality, a recurring theme throughout past plans, with the focus shifting to mapping current public and private sector actions.

Future steps include engaging stakeholders and reviewing investment priorities already in place. The Area Committee will meet in mid-September to discuss these ongoing efforts, and further public-private collaboration will follow as the plan takes shape.

Northern Accountants boosts senior team with tax specialist

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Northern Accountants boosts senior team with tax specialist
Tax specialist Robert Wilson – who started his career with one of the ‘big four’ – has joined Leeds-headquartered Northern Accountants. A business graduate who joined Deloitte in 2007, Rob – who lives in Harrogate – now becomes Northern Accountants’ associate tax director. With almost two decades’ experience delivering strategic tax planning advice for companies and their shareholders, he has worked in both boutique and industry-leading practices. During that time, he has amassed expertise across corporate and personal tax planning at every stage in the business lifecycle, from the initial set-up of corporate structures, through to successful exits, and everything in-between. His particular specialisms include tax-efficient company structures and restructures, succession planning, inheritance tax, the taxation of income from properties, and land remediation relief. Rob’s appointment marks a notable expansion of the specialist tax service set up by Northern Accountants over two years ago. Northern Accountants’ managing director and founder Phil Ellerby explained: “It’s taken us years to find someone of Rob’s calibre, but it’s his straight-talking, problem-solving focus that makes him the perfect fit for both us, and our clients. “His priority is to help businesses and their directors navigate the changing demands of the tax environment, clearly, and with their objectives always in mind. And given the challenges of the economic climate, I think his ability to help compliantly maximise directors’ personal and commercial wealth, has never been so important.” Set to support Northern Accountants’ base of almost 700 clients, Rob added: “I’ve enjoyed a really varied career so far, representing a broad spectrum of clients ranging from ambitious entrepreneurs to large corporate groups, as well as individuals who simply want to explore their tax position. “But it’s this role that excites me the most – becoming involved in an established but progressive business that never stands still when it comes to client service levels.”

Yorkshire firm partners with University of York for AI internship initiative

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Yorkshire firm partners with University of York for AI internship initiative

PPS, a York-based supplies distributor, has launched an AI-focused summer internship in collaboration with the University of York. The programme aims to enhance business processes through data analysis and AI-driven insights, while offering valuable career experience to local students.

Two Computer Science students, Will Hall and Cyril Ivanov, have joined PPS for a 12-week internship, working closely with the Managing Director. Their roles focus on applying AI and machine learning to optimise key operations, improve predictive models, and explore automation solutions.

The internship is designed to not only help PPS unlock the potential of its data but also support students’ career growth in a practical, business-driven environment. As part of the initiative, the students are working on real-world problems, such as refining delivery data analysis and improving customer service automation.

PPS, a family-owned business known for its commitment to professional development, hopes the programme will offer long-term benefits. If successful, the company plans to make the internship an annual offering, creating more opportunities for students to contribute to local business innovation.

Construction sector faces significant downturn as demand weakens

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Construction sector faces significant downturn as demand weakens

The UK construction industry experienced its sharpest contraction in over five years during July, marking a continued decline across all major sectors. The S&P Global UK construction purchasing managers’ index (PMI) dropped to 44.3 from 48.8 in June, signalling a significant slowdown in activity. Any reading below 50 indicates a contraction in the sector.

The downturn was driven by a slump in housebuilding, which had briefly shown signs of recovery in June, as well as weaker performance across civil engineering and commercial construction. The survey highlighted that civil engineering experienced the largest decline, particularly with public-sector projects seeing reduced activity.

Firms across the industry faced delays on job sites, lower volumes of new work, and a lack of confidence from consumers. The latest figures also revealed a continued decrease in employment, marking the seventh consecutive month of job losses. Many construction businesses are now freezing recruitment and cutting back on material purchases as they prepare for a difficult outlook.

Despite these challenges, analysts expect some recovery in the coming months. Potential interest rate cuts from the Bank of England could ease borrowing costs, and government investments are expected to help stabilise the market.

Walkers factories face restructuring plans, job uncertainty looms

April Lara
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Walkers factories face restructuring plans, job uncertainty looms

PepsiCo has announced plans to restructure its operations at Walkers’ key manufacturing sites, sparking concerns over potential job losses. The company is consulting on changes at its Leicester, Coventry, Lincoln, and Skelmersdale facilities, but the number of jobs affected remains unclear.

PepsiCo confirmed that no decisions would be made without consulting employees and their representatives. The company emphasized that the restructuring aimed to align its UK operations with the structure of other international sites, improving operational efficiency and technical capabilities.

The changes come after a series of recent investments in Walkers’ facilities, including £24m in Lincoln, £58m in Leicester, and £13m in Coventry, to enhance production capacity and meet growing consumer demand. These investments underscore PepsiCo’s ongoing commitment to its UK operations, despite the proposed changes to its workforce.

Unite, the union representing workers, has vowed to protect jobs during the consultation process, with plans to negotiate against compulsory redundancies and secure fair severance packages. The union’s involvement signals the significant impact these restructuring efforts could have on the workforce across the affected sites.

A PepsiCo UK spokesperson said: “We recently told our teams that we will be consulting on proposed changes to our operational structure, affecting a proportion of employees at our snacks manufacturing sites in the UK. No decisions will be made without first consulting affected employees and their representatives. Our priority is providing support for our people throughout this process. “The changes being proposed are intended to bring our UK sites in line with a different operating structure we have had success with at some of our other international sites, leading to better ways of working and increased technical capabilities.”

Leeds Bradford Airport begins second phase of £100m transformation

April Lara
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Leeds Bradford Airport begins second phase of £100m transformation

Leeds Bradford Airport has commenced the second phase of its £100m redevelopment project, which is part of a broader strategy to enhance its facilities and improve passenger experience. The first phase, completed in 2023, introduced several upgrades, including a new arrivals area, baggage reclaim section, secure passport control zone, and two premium lounges. The new terminal area also offers expanded seating and panoramic runway views, with more food and drink options added.

The second phase focuses on refurbishing the original terminal, which has been operational since 1968, along with building new infrastructure to link the key terminal areas. This work will take place within the active airport environment and will be carefully managed to minimise disruption during peak times.

The final phase of the renovation, scheduled for completion by 2026, will increase terminal space, enhance retail offerings, and improve passenger services like security and luggage handling. Once finished, the airport will be able to handle up to 6.8 million passengers annually, marking a 75% capacity increase. This expansion will solidify Leeds Bradford Airport’s role as a key travel hub in the North of England, competing with airports such as Belfast International and Newcastle.

Software company takes third floor at historic Leeds building

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Software company takes third floor at historic Leeds building
Software company Panintelligence has taken the 3,036 sq ft third floor of an historic Leeds building on a five-year lease. Property consultancy Knight Frank has brokered the deal at the Concordia Works in Sovereign Street. Charlotte Bailey of PanIntelligence explained: “Moving into Concordia Works marks a key milestone for us. After a year of searching for the right space, we’re proud to call this beautiful building in the heart of Leeds our new home. “It reflects not just our Yorkshire roots, but also our growth, ambition, and commitment to building a collaborative, values-led culture. Concordia gives us the space to bring our team together in a way that supports innovation and connection – and we couldn’t be more excited for this next chapter.” The other occupier at Concordia Works is Caldero on the ground and lower ground floors, with the first and second floors newly refurbished and available. Zoe Wood, asset manager with landlords Boultbee Brooks, said: “We’re delighted to welcome Panintelligence to Concordia Works. As a fast-growing tech business rooted in Leeds, Panintelligence represents exactly the kind of innovative and ambitious company we envisaged when redeveloping Concordia Works. “The building’s unique blend of heritage character and contemporary design provides an inspiring environment that we believe will support their continued growth and attract top-tier talent. “Concordia Works offers flexible, high-quality workspace that enables modern businesses to collaborate, scale, and thrive. We’re proud to be part of Panintelligence’s journey and look forward to seeing their continued success from their new home in the heart of Leeds.” Victoria Harris, associate in the office agency at Knight Frank in Leeds, who advised Boultbee Brooks, said: “The 13,922 sq ft Concordia Works is a unique and striking property, set over five floors and situated just a short walk from Leeds City Station and the main retail heart of the city. “Built in the early 20th century, this former yarn and cord warehouse was refurbished by Boultbee Brooks with modern businesses in mind, whilst maintaining its existing structure and original period features.”

Leeds’ Kennedy Building sold for £1.1m

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Leeds’ Kennedy Building sold for £1.1m
Fox Lloyd Jones has sold The Kennedy Building, a 6,617 sq ft standalone property in Leeds’ South Bank district for £1.1m. It follows the relocation of the owners, North America Travel Service (NATS), to Water Lane. Acting on behalf of the former directors of NATS, the property has been sold to Regional REIT, which is externally managed by ESR Europe. The Kennedy Building occupies a prominent 0.24 acre site at 48 Victoria Road, directly adjoining Central Park, a substantial multi let office development already under Regional REIT’s ownership. In the immediate term, Regional REIT plans to bring the building to market for lease, while concurrently developing long-term plans for site redevelopment. These plans have been unlocked by the recent lifting of HS2 safeguarding in the area, opening up new opportunities across Leeds’ rapidly evolving South Bank regeneration zone. Eamonn Stones, senior asset manager at ESR Europe, said: “This acquisition marks an important step in our wider growth strategy to assemble and optimise Central Park. The Kennedy Building enhances our footprint and unlocks future potential for redevelopment.” Nick Salkeld, director at Fox Lloyd Jones, said: “We’re pleased to have secured a successful outcome for our clients, marking a new chapter for the building and NATS who have been owner occupiers since 1998. The opportunity generated strong interest from both owner occupiers and developers due to its lot size as a Freehold HQ office offering development potential in this exciting area of the city.”

SIG reports steady performance despite market challenges

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SIG reports steady performance despite market challenges

SIG Plc has reported a solid performance for the first half of the year, despite ongoing challenges in the construction market. For the six months to June 30, the Sheffield-based supplier saw a modest increase in like-for-like sales, up by 1% year on year to £1.304 billion. Like-for-like volumes also grew by 2%. However, revenues fell by 1%, impacted by working days, exchange rates, and branch closures.

The company posted a 31% increase in underlying operating profit, rising to £15.4 million from £11.7 million. Underlying EBITDA also improved to £54.1 million, up from £51.6 million. Despite this, SIG’s net assets decreased by £31.7 million, standing at £148.1 million at the end of June.

While demand across SIG’s markets remains below historical levels, the company’s UK Interiors and Roofing businesses have performed well, with both segments showing notable improvements. The German and French businesses are also maintaining resilience, albeit in tough market conditions.

The firm is maintaining its 2025 outlook, citing the ongoing implementation of strategic and operational changes. SIG also confirmed that Pim Vervaat will take over as CEO and Chair designate on October 1, following Gavin Slark’s resignation in May. Vervaat will eventually transition to the role of Chair in 18 months.

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