- The basement level being transformed into a bar and restaurant area and opened up to the public for the first time in the building’s history
- The ground floor to feature a new food hall as well as new amenities including Changing Places facilities
- The first-floor plans show an event space and business lounge
- Office space will appear on the second and third floors of the building
- An extension will be added to the eastern façade of the building, which has traditionally always been connected to other buildings within the brewery complex
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Sowden’s wins ‘best small business’ accolade
Yorkshire-based digital marketing agency Sowden & Sowden has been named ‘Best Small Business’ in Hull and East Yorkshire at the annual Hull Live Business Awards.
MD Polly Sowden said: “We’re over the moon for another win and given the calibre of businesses in the region, it’s a real achievement for the agency to come out on top. It’s been a big year for the team, with new clients and contract wins, and we’re so excited to be finishing it on such a high. Congratulations to all the other awards winners, and thanks to everyone who helped to organise such a memorable event.” TheSowdens team was recognised for its dedication, hard work, and exceptional contributions to the region. And after been in business for over 40 years, the agency’s winning mentality is said to be what sets it apart, making it one of Yorkshire’s longest established agencies. Over four decades, Sowdens has held a diverse client portfolio, from challenger brands to established international blue chips.West Yorkshire industrial property market bucks the trend
Pockets of deal activity drive logistics and supply chain transactions to two-year high
M&A activity in the UK logistics and supply chain management sector has rebounded to 2021 levels, with renewed interest from international buyers and venture capital investors targeting early stage tech-enabled companies.
Mirroring levels seen in Q4 2021, 21 deals were completed between July and September. Notably, there was a ‘reawakening’ of investment appetite towards UK assets from international buyers, with significant deals involving key industry players including Super Group Limited, DSV A/S, and InPost SA. Meanwhile, almost 20% of transactions were venture capital investors targeting early stage tech-enabled companies servicing the sector.
According to a new report from accountancy and business advisory firm, BDO LLP, disclosed deal values increased during the third quarter of the year to £288 million – a rise of £232 million compared to the previous quarter. This was mainly attributable to the acquisition of Xpediator for £161 million by a consortium group consisting of BaltCap, Stephen Blyth and Justas Versnickas. However, total disclosed deal value is still down on levels seen in the last three years, with values similar to that of 2018/2019.
The UK M&A Update Q3 2023 – Logistics and Supply Chain Management also sounded a word of caution, with increased evidence of distress within the market. This included the acquisition of the trade and assets of Nelson Distribution by Kinaxia Logistics, the administrations of Selazar Ltd and Glasgow Car Movers Ltd, and more recently Mark Stewart Limited.
Jason Whitworth, M&A partner at BDO LLP, said: “Maybe surprisingly given the continued challenges in the economic environment, Q3 saw an increase in deal activity to a new two-year high.
“This was driven by a number of factors, including venture capital investors investing in tech, renewed activity from international buyers, which have more recently focussed on other ‘more attractive’ international growth markets, as well as increased evidence of distress.
“The latest edition of our UK Logistics Confidence Index showed that 40% of respondents were likely to make acquisitions over the next 12 months. Although lower than last year, it does confirm the industry’s continued appetite for consolidation.
“Interestingly, in the current market where margins are under pressure, it wasn’t scale, synergies or cost savings that were the leading reasons for wanting to transact, but expansion of service offering and entering new sectors.”
Whitworth added: “Valuation remains a pivotal concern in making deals happen. Uncertain, and potentially lower earnings, coupled with the higher cost of debt, means that there is more complexity in structuring deals that will meet both buyer and vendor expectations. However, with strategic demand and available capital remaining strong, we should start to see a drive in further deal activity.”
Q3 deals included Foresight Group’s acquisition of We Are Fulfilment Ltd and Amworld UK; Endless LLP’s acquisition of ASCO Group; and the sale of Portman Logistics to Challenge-trg Group.
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Pubs could go to extra time if home nations reach final stages of the Euros
“That is why we are looking at helping pubs and bars stay open longer if we reach the semi-finals or final, and ensure families, friends and communities can come together to cheer their nation on.”
The plans, which will be subject to public consultation, would provide a welcome boost for the hospitality industry and clarity for pubs and bars. This is part of a series of recent government measures to boost the hospitality industry and make sure pubs and bars have the support they need to thrive, including the continuation of relaxed licensing regulations that allow pubs, restaurants and bars to sell takeaway pints without red tape holding them back. Pub licensing hours were previously extended for the men’s Euro 2020 final and pubs also stayed open longer for the King’s Coronation bank holiday weekend earlier this year. The public consultation will run for 12 weeks with the government to take into account the views from the public, licensing authorities and hospitality industry.Frozen food company fined after employee loses fingers
Devolution deal presents opportunities for business, says York and North Yorkshire Growth Hub
- More investment in our towns and high streets. Local decision-making will enable investments strategically. This will channel resources to significantly boost towns and high streets. This means more opportunities for business to thrive in an increasingly vibrant local environment.
- Skills investment tailored to your workforce. The devolution deal will ensure that skills investment is closely aligned with the unique challenges and needs of our region. This will allow you to build a stronger workforce now and for the challenges of tomorrow.
- Support for growth with a focus on climate-friendly solutions. The future is green, and the devolution deal places importance on supporting business to adapt to more sustainable approaches. As we collectively move towards net-zero, solutions will not only focus on reducing environmental impact. They will also seek to open new doors for growth and cost reduction in your business.
- Increased investment in housing. Employee wellbeing is vital. The increased investment in housing will ensure that your staff have access to the right mix and type of housing. This will in turn help you attract and retain top talent.
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County leaders sign proposed Lincolnshire devolution deal
Parliamentary Under Secretary of State of Levelling Up Jacob Young met the three Greater Lincolnshire Council Leaders today (27 November 2023) as they united to sign the greater county’s proposed devolution deal.
Mr Young joined North East Lincolnshire Council Leader Cllr Philip Jackson, along with Cllr Martin Hill OBE from Lincolnshire County Council and Cllr Rob Waltham MBE from North Lincolnshire for the ceremonial event held at Scunthorpe’s 20-21 Visual Arts Centre.
Parliamentary Under Secretary of State for Levelling Up Jacob Young said: “It’s fantastic to be here in Lincolnshire today announcing our devolution deal for the Greater Lincolnshire area.
“It comes alongside extra funding, more powers and a new directly elected mayor for the Lincolnshire area. I know it’s going to have a dramatic impact across the whole of the Lincolnshire County.”
Cllr Martin Hill said: “This is a deal which will be fantastic for Greater Lincolnshire, from the Humber down to the Wash.
“It gives us a lot of extra spending power over the next 30 years, £24 million a year for the next 30 years, and some additional money straight away that we can spend on our priority areas.
“But importantly it will give us extra powers as well to make sure that we can direct that spending in areas that we know local people need it, around infrastructure, around transport, around housing, flood defence and various other areas where we know we’ve got need in the county.
“We know it’s going to be great for us in determining the future direction of Greater Lincolnshire.”
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New CEO of Right Fuel Card named
Yorkshire-based Right Fuel Card, part of the Edenred group, has appointed Matthew Briggs as its new CEO.
Matthew Briggs has held a number of executive roles in the automotive sector. This started with building the UKs largest independent motor insurance assessing organisation. He then joined FMG Support and helped build its fleet incident management business which partnered with most of the UKs top 10 vehicle leasing organisations.
From there, he joined Universal Salvage PLC to execute the turnaround, which was successfully completed with its sale to Copart – the world’s largest vehicle remarketing organisation.
Subsequently he became CCO of the RAC and was part of the exco who ran its sale to Private Equity in 2011. More recently he was CEO of AutoProtect Group, which provides products, services, tech and data analytics to over 4,000 vehicle retailers in the UK&I and Europe.
Briggs will take full responsibility for the leadership and development of RFC Edenred, playing a key role in meeting the company’s growth goals whilst supporting Edenred’s ‘Beyond’ strategy, aimed at providing value added services beyond fuel cards to Right Fuel Card’s 30,000 customers.
Briggs says: “I am delighted to be joining RFC Edenred as CEO at a time when the global mobility and automotive markets undergo significant change. With change brings opportunity, and I am excited to be working with the RFC Edenred colleagues to develop our proposition and capitalise on the automotive revolution.”
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JCT600 directors walk the Dales Way for automotive charity
Eight hardy colleagues from JCT600 have once again donned their hiking boots in the name of charity, completing the 80-mile Dales Way to raise funds for automotive charity partner BEN.
Earlier this autumn, the team took on the challenge of walking from Ilkley, West Yorkshire, to Bowness-on-Windermere, Cumbria – a five-and-a-half day hike, requiring a total of 200,000 steps and burning an average of 17,000 calories.
The intrepid team comprised: John Tordoff, chief executive; Nigel Shaw, financial director; Richard Hargraves, managing director; Tracey Newton, people director; Graham Thacker, operations director; Andy Bateman, customer experience director; James Parker, chief information officer; and Ben Creswick, managing director of the group’s vehicles leasing division, JCT600 VLS.
The walk was part of the BEN’s Benathlon Challenge which encouraged automotive businesses to exercise for a whole month, and was also an opportunity to fundraise for the charity which supports anyone in need who has worked in the industry. The JCT600 team has succeeded in raising £8,500 for BEN so far and donations can be made to https://giving.ben.org.uk/pf/jct600dalesway
Richard Hargraves said: “BEN plays a vital role in the automotive industry, helping individuals from our sector when they need it most, and it’s vital that businesses like ours do all we can to support their work.
“With many colleagues having previously taken part in fundraising activities, from hiking the Yorkshire Three Peaks to a 500-mile walking, running, cycling, swimming and rowing challenge to tour all of our 50-plus dealerships, we felt the rigours of the Dales Way should be added to the list.
“Passing through the heart of the Yorkshire Dales, it is a truly spectacular walk – even in torrential rain! Thanks to everyone for their support in helping us raise £8,500 for this fantastic charity.”
BEN is dedicated to supporting anyone who works or has worked in the UK automotive industry, plus their family dependents. As well as supporting individuals in crisis, for example, by providing free life coaching, the charity also works with companies in the sector, helping them to promote the health and wellbeing of their people.
Footgolf Charity Day returns and aims to double fundraising for two local charities
The 360 Grassroots Foundation and Hull & East Yorkshire Powerchair Football Club are teaming up again for their third Footgolf Charity event – and organisers say it is going to be bigger and better than ever.
The two charities have raised over £3,000 in total over the last two years from the Footgolf Days. They have proven to be so popular that they are putting on two sessions during the day at their next event to double their fundraising efforts and give even more local businesses, individuals and families the opportunity to get involved.
Teams of four are now being invited to sign up to play nine holes of Footgolf at their next event in April 2024. All proceeds are split equally between both causes.
The 360 Grassroots Foundation supports under privileged and disadvantaged children to access grassroots sports in Hull while the Hull & East Yorkshire PFC, also known as the Electric Eels, aims to give disabled people of all ages and genders the chance to play powerchair football at a competitive or recreational level.
Andy Steele, director of 360 Chartered Accountants, which set up the 360 Grassroots Foundation, said: “The cost of running the Eels is increasing all the time and the 360 Grassroots Foundation is being inundated with requests to help children access sports who would otherwise have stopped playing because of the cost-of-living crisis.
“We are so grateful for all the support we have had in previous years. The money that we have raised so far has already been put to good use within the local community. The Footgolf Charity Days are so much fun.
“No-one takes themselves too seriously. You don’t need to have any football or golfing skills to take part. Just come along and have a great time. We would also appeal to people to donate prizes for our raffle to help us smash through our previous fundraising ceiling.”
Kai Gill, marketing and communications officer for the Hull & East Yorkshire PFC, said: “We are delighted to be announcing another footgolf event for the third year running. The past two have been greatly supported and everyone has spoken about how much they’ve enjoyed them.
“It made it an easy decision for both charities to continue for next year’s fundraising event and make it the best and biggest one yet. The funds raised are critical to both charities and help achieve their charitable aims and objectives.”
The Footgolf Charity Day will take place on Friday 26th April 2024 at the National Avenue Footgolf Centre, Hull. Tee-off times are between 11am and 5pm. A buffet is included and refreshments will be available at the bar. To book your place, email events@360accountants.co.uk.