Garden Centres Group wins retail company award for second successive year
Walker Sime names UK Director of Quantity Surveying
Housing association agrees new funding with three lenders worth £284m
Savills Financial Consultants has helped Great Places Housing Group secure three new deals worth a total of £284m with Santander, NatWest, and ABN AMRO.
Funding of £109m and £100m has been agreed with existing lenders Santander and NatWest Bank, respectively. New partner ABN AMRO has lent 25,000-home Great Places £75m. All loans are revolving credit facilities (RCFs).
All three RCFs contain sustainability-linked performance measures which see a reduced interest rate in the event that Great Places meets agreed energy efficiency targets on new and existing homes.
The housing association will use the funds to continue to deliver its commitments to customers to invest in existing and new homes in communities across the North West, Yorkshire and Derbyshire. Great Places’ current plans include further increasing resources to improve property conditions and customer services, as well as the ambition to develop around 9,000 new affordable homes during the period 2020-2030.
Mike Gerrard, Chief Financial Officer at Great Places Housing Group, said: “We are delighted to continue and develop our relationships with NatWest and Santander and welcome ABN AMRO as a new banking partner.
“We received strong interest from the banking sector for this transaction and it is pleasing to move forward with sustainability-linked funding. Thank you to the Great Places team and Savills for their insight and support.”
Mike Roche, Director at Savills Financial Consultants, said: “There were a significant number of moving parts with these deals, so it is a testament to the Great Places team that they have been able to handle the process so diligently.
“The Savills Financial Consultants team has really enjoyed helping Great Places secure this increased financial capacity at the right pricing to help deliver their aims.”
Jane Johnstone, Senior Director, Housing Finance, Santander UK, said: “We are delighted to have supported Great Places in providing this sustainability-linked facility.
“This funding will ultimately facilitate improvement in existing housing provision and the continued development of much-needed, new, affordable homes. We are proud to work together with providers such as Great Places in this critical sector.”
Martin Skinner, Relationship Director at NatWest, said: “We are a major lender to the UK affordable housing sector and are delighted to continue to support the important work of Great Places in providing much-needed social housing to the region.
“The RCF structure, coupled with sustainability-linked performance measures, will lead to more energy-efficient homes across the North West, Yorkshire and Derbyshire.
“We are proud to have announced that in 2023 we completed nearly £3bn of new funding to help more people and families have access to housing. We support around 200 housing associations across the UK and are proud to announce our ambition to provide a further £5bn in funding to support the housing association sector by the end of 2026.”
Rutilio Merien, ABN AMRO’s Head of UK Coverage Real Estate, said: “We are delighted to start this partnership and provide Great Places with new funding facilitating its commitment to develop new homes as well as improving existing ones.
“ABN AMRO is pleased to further support the social housing sector and the inclusion of ESG-linked KPIs in our facility with Great Places resonates very well with ABN AMRO’s purpose and strategy. We look forward to building a strong and long-term relationship with Great Places.”
Alice Overton, Partner at Devonshires, said: “We are delighted to have advised on these transactions and to have supported Great Places in achieving its energy efficiency and wider sustainability ambitions.
“Great Places approached this with dedication and commitment, and the team was a pleasure to work with, alongside Savills, all resulting in a great outcome for the business.”
The transaction was also supported by Addleshaw Goddard and the valuation team at Savills.
Ringrose Law expands with three new office openings
Business Shows Group marks 25 years of excellence in event organisation
Farmers call for major retailers’ support during ‘perfect storm’ of challenges
£1.8bn Viking Link project between Lincolnshire and Denmark launched
C-suite executives optimistic for a year of transformation and growth, but say more regulation needed on AI and sustainability
Optimism and confidence are at their highest recorded by the Mazars C-suite barometer. 96% of UK C-suites say that their company grew in 2023, up from 87% the previous year, and in contrast to 89% globally. Furthermore, almost all (98%) predict growth in 2024, and 60% of these say this growth will come organically.
The major topic on the leadership agenda is transformation through IT and new technology as a top strategic priority. 87% of UK C-suite executives believe that generative AI will have an impact on their organisation, with more than half saying this will be a major impact.
More than two thirds say their organisation already uses AI for internal processes and/or products/services – although this is slightly lower than the three quarters globally. However, over half (57%) of UK C-suite executives express ethical concerns over AI, (although globally it’s 74%) and 92% are seeking more regulatory guidance.
Elisabeth Maxwell, Deputy CEO, said: “It is very encouraging to see such optimism among our UK clients for the year ahead despite the uncertain conditions that all businesses are facing. Companies are willing to put investment in again and there are exciting developments on the horizon for AI.
“The feedback that Mazars C-suite barometer has highlighted is that more clarity is needed from regulators to enable businesses to make the best of the opportunities provided by potentially transformational technology and to enable companies to quantify success in sustainability practices.”
Key areas of investment for the UK are customer acquisition and brand strategy/positioning, followed by sustainability initiatives. Compared to other leaders globally, those in the UK have a stronger focus on engaging government/regulators, and less on external growth opportunities. An overwhelming seven in ten thinks more government regulation is important.
Over half (56%) of UK C-suite executives say their organisation produces a sustainability report compared to 71% globally, and furthermore, the proportion of leaders in the UK who are budgeting for sustainability implementation and reporting is also down from 75% last year.
The reason for this is believed to be that for those in the UK producing or planning a report, understanding regulation is now twice as big a challenge than last year, making it the equal biggest challenge alongside data capture/quality. Many UK leaders feel they lack in-house expertise to tackle sustainability properly, compared to leaders globally, who are more concerned about coverage on climate and carbon.
Partner and member of the Mazars Group Executive Board, Mark Kennedy, said: “The high levels of optimism and renewed confidence among our respondents provide a good indicator of how businesses are likely to progress this year.
“In the face of volatility, the C-suite has demonstrated resilience and agility enabling them to continue investment and transform business while addressing the challenges and opportunities of emerging technology, expansion plans and the ESG agenda, setting their businesses up for sustainable growth.
“In what may be a bounce forward year for businesses, there will still be tough decisions to make, yet we can see an increasing consciousness and confidence in the priority areas that will secure sustainable economic growth in the global economy.”
International expansion is also a rising business priority both in the UK and globally. Many UK firms looking at international expansion in the year ahead said that the USA would be their top destination.
Hull Trains and Yorkshire Wildlife Trust partner in new environmental initiative
Small firms thrown into confusion as plant and food import plans sink into complete disarray, says FSB
Sight Support Hull and East Yorkshire gets new CEO
Lindum Group adds new roof to Cresset building in £3.5m project
Five new heads of department feature in accountancy firm’s dozens of promotions
New managing partner named at LCF Law
Yorkshire law firm, LCF Law’s managing partner Simon Stell, who has led the firm for almost 30 years, is to step down from the role with partner and disputes specialist, Ragan Montgomery, taking up the position this month.
Simon joined LCF Law in 1995, when it was known as Last Cawthra Feather before becoming LCF Law in 2014. Shortly afterwards, in 2016, he was named Yorkshire Lawyer of the Year at the Yorkshire Legal Awards, and during his tenure he has overseen LCF Law’s growth.
Simon will continue to work with Ragan to assist with the handover. He will continue with the firm, acting as a mentor and sounding board as well as supporting the wider team, to help achieve LCF Law’s ambitious goals and objectives moving forward.
In her new role, Ragan will be responsible for overseeing LCF Law’s operations and leading the firm’s client service, growth and development strategies.
Ragan has worked at LCF Law since 2003 and is currently operational head of the firm’s Dispute Resolution department. Ragan specialises in disputes concerning wills, trusts and inheritance, as well as property litigation and professional negligence claims. She’s also a qualified civil and commercial mediator.
Ragan said: “After joining the firm 21 years ago as an assistant solicitor, to be appointed managing partner is a huge honour and it’s a challenge that I’m really looking forward to as we strive to build on our enviable reputation in Yorkshire and beyond.
“I’m taking over the role at a time when LCF Law is in a very strong position. Simon has never let the firm stand still and has always laid the foundations for future growth. We have a highly experienced group of 22 partners whose continued aim is grow the firm serving our existing clients, winning new clients to seek our advice and support as well as attracting the best people to join our team.”
Simon added: “Over the many years that I have been with LCF Law, there have been lots of changes, but we have always had a firm eye on the future, planning and modelling our strategic development, so that we can achieve our ambitions and the career aspirations of our colleagues. Five years ago, we began to look at a succession strategy and set about planning the structure and recruitment for the 2020s and beyond.
“One thing we were certain about was that law would still be a people business and we’ve worked hard to build a great team. I’m proud to remain a part of it in my new role. I very much look forward to supporting Ragan and continuing to be a dedicated contributor to LCF Law’s ongoing success.
“Ragan is a vastly experienced and highly respected lawyer who is always forward-thinking and has a natural ability to quickly identify and solve problems, which makes her very popular with clients, her colleagues and everyone she deals with. There’s no doubt she’s the perfect person to lead LCF Law going forward.”
Call goes out for possible development sites across North Yorkshire
A call for possible development sites across North Yorkshire has gone out this week as part of preparation for the county’s new local plan.
Landowners, site promoters, developers and other interested parties are being given the chance to submit site suggestions to North Yorkshire Council. They will be considered as part of the local plan being drawn up to meet the future growth of the county.
Sites can be submitted for any use or special designation, including but not limited to housing, employment, commercial development, retail and leisure, renewable energy generation, and biodiversity or other environmental enhancement schemes.
The North Yorkshire Local Plan, which the council aims to adopt by 2028, will set out where development will take place across the county over the next 15 to 20 years. It will also include policies and strategies that planning applications will be considered against.
Sites put forward for consideration will be subject to a lengthy process that will take several years to complete and will include independent government examination of the plan and the proposed sites.
Director of community development, Nic Harne, said: “The call for sites represents a crucial early stage in our local plan preparations and we welcome submissions from across North Yorkshire.
“However, submitting a site for consideration does not necessarily mean it will be taken forward for development. This exercise is not the planning application process and at this early stage, it is often the case that more sites are submitted than are needed to meet the future needs of the area.”
Site ideas must be submitted online using the council’s planning portal and allows the user to plot the site boundary, submit site details, include supporting documentation, and add details of any work carried out to date on the site.
This level of information is important and will allow the planning team to consider the impact of a site in detail. The process will include seeking expert advice on the impact on local services such as schools and health provision, capacity of local sewerage and water services, impact on wildlife and biodiversity, and the capacity of local roads and junctions.
When the initial assessment of sites is complete, the council will invite comments on the sites as part of a public consultation.
Anyone wanting to put a site forward for consideration should aim to do so by the end of June.