- High streets must be easily accessible, with available parking, and increasing park and ride. Local transport must be reliable, affordable and well connected – and the Government must ensure its Pothole Fund is fairly allocated.
- Raising the VAT threshold from £85,000 to £100,000 could spark growth across the economy. Many firms halt trading near the end of the tax year to avoid hitting the current limit and incurring additional costs.
- The Small Business Rates Relief threshold should be increased to £25,000 to remove 200,000 small firms out of the rates system.
- Cheaper energy costs – energy firms should more widely adopt FSB’s proposal to allow small firms that negotiated their contract at the height of the energy crisis last year to be able to ‘blend and extend’ their contracts to take advantage of lower, wholesale prices. Lower energy bills will allow firms to keep their prices low for consumers.
- Reinstate tax free shopping for international visitors, to add £4bn of GDP through increased retail and tourism, secondary spending and small producers – and signalling that the UK is open for business.
FSB draws up Christmas wish list on behalf of SMEs
The FSB wants Government to start thinking about its Christmas policies following the latest Small Business Index results.
The research shows that small firms in retail and accommodation and food sectors had a far lower confidence reading than businesses from all sectors, at -38 points and -36 points respectively, against an all-sector finding of -14 points in the second quarter of 2023.
The UK’s largest business group has released a Tinsel List of policies – following a challenging three years of dealing with Covid-19, energy hikes and soaring interest rates and inflation.
Policies in the Tinsel List include:
Late announcement of early delivery allowance is a bitter pill for sugar growers
British Sugar’s announcement of an Early Delivery Allowance for this year’s crop has come far too late to enable many growers to change their plans to benefit from it, says the NFU.
NFU Sugar welcomes the scheme which it has been calling on British Sugar to introduce for months. However, the organisation is disappointed that British Sugar waited until just days before the campaign begins to announce it, given that an early start to the 2023 campaign was known about since January.
The NFU says that executed correctly and planned in advance, the EDA would have had the potential to solve British Sugar’s perennial challenge of slow beet deliveries early in the campaign. In addition, it could also have spread contactor workload more smoothly, helping growers wanting to lift early maintain beet in their rotation.
Michael Sly, NFU Sugar Board chair, said: “Many growers will have sprayed crops recently, many harvesters will be undergoing maintenance with staff potentially absent or working elsewhere in the business in September, and many hauliers will already be committed to other work. All of these will prevent growers from delivering beet early who could otherwise take advantage of the EDA to service British Sugar’s need.”
NFU Sugar was not given the opportunity to agree the details before British Sugar announced the EDA. As discussions for 2024 are ongoing, says the NFU, it is essential British Sugar executes the EDA in future contracts in a timely, planned and appropriate manner so that all parties can reap the benefits.
BRM Solicitors appoints new director for Sheffield Dispute Team
BRM Solicitors has appointed Lewis Hastie as a director of its Sheffield-based Dispute Team.
Lewis joins the firm with more than 14 years’ post qualified experience, specialising predominantly in contentious probate cases and acting in contentious Court of Protection proceedings.Strengthening both the Dispute and Private Client teams, Lewis joins at a time of expansion for the departments.Lewis said: “I am very excited to be joining BRM, a firm that is expanding quickly and is fully committed to providing the best possible service for its clients, really going above and beyond for them.
“I look forward to bringing my strong experience in contentious probate and contentious Court of Protection cases to the firm and positively contributing to the firm’s vision for the future.“I look forward to working with the team and helping to expand its growing client base, building on the excellent progress it has made.”BRM director and head of the firm’s Dispute Team, Rob Cooke, said: “Lewis brings a whole wealth of experience to the team having worked in contentious probate for a number of years.
“It is immediately evident that Lewis really cares about getting to know each of his clients and prides himself in building long-lasting relationships – a value that BRM holds at the heart of the firm.”
Golf day raises over £5,000 for Sheffield young persons charity
The annual Nicholas Associates Group (NAG) & CSP Systems golf day has raised over £5,000 for a Sheffield-based charity which will benefit young people.
Now in its third year, the beneficiary for money raised from the 2023 golf day will be Endeavour, a charity which aims to enrich the lives of young people through education and adventure.
Held at Wortley Golf Club, the golf day attracted over 120 players from 30 local businesses and supply chain partners who played in a team competition with a number of individual prizes.
The winning team was The Business Village, Chris Goddard from B&B Vehicle Contracts won nearest the pin on hole 9 whilst Graham Jamson from Coster UK won nearest the pin on the 16th, and Ryan Hopeley from D&G Utilities won longest drive.
Commenting on the success of the day, Joanne Wilson, group marketing & communications manager from NAG, said: “This is our 3rd joint charity golf day with our suppliers CSP Systems. We chose Endeavour because their mission to empower young people is very closely aligned with our own values and ambitions to enable people to be their best. We are pleased to support Endeavour to create opportunities and support for more young people to develop skills, knowledge and confidence to enable them to fulfil their potential and create a positive future.”
Andy Bethel from CSP Systems said: “We have expanded the number of teams taking part, which has, in turn, increased the amount raised. The day was a fantastic success, and we hope to build on this for next year. Thanks again to Wortley for hosting our event so professionally.”
Ed Thatcher, CEO of Endeavour, added: “It has been great to welcome Nicholas Associates Group & CSP Systems on board as a corporate partner. We really appreciate their support and also the opportunity to meet other potential partners through their golf day. It is vital that we continue to expand our partner network. Being part of this golf day has been a great opportunity to raise our profile and hopefully engage with potential new corporate partners.”
Leeds records strongest prime office rental growth outside of London
Prime rents across the UK’s office markets recorded notable increases since the start of the pandemic, with occupiers’ flight to quality driving a supply/demand imbalance for best-in-class office space, underpinned by access to high-quality amenities, space on standout floors, and strong sustainability credentials.
According to CBRE research, Leeds has recorded the strongest prime rental growth of the 10 city office markets analysed outside of London and the South East. The city’s prime rents stand at £37psf – reflecting an increase of 23% since the start of the pandemic (Q4 2019 to Q2 2023). This represents the strongest prime rental growth of any major office market in Europe, excluding the London West End core markets of Mayfair & St James’s.
Berlin’s prime rent growth since the pandemic stands at 16%; Milan at 15%; Paris at 14%, followed by Amsterdam at 9%.
By comparison, in the same period, Bristol (21%), Liverpool (21%), Edinburgh (19%), Birmingham (19%) and Manchester (18%) recorded significant prime rental growth. The trend is continuing into H2 2023, as evidenced by Glasgow prime rent reaching £39.50psf from the pre-Covid level of £32.50psf.
Rental value growth has also been exceptionally strong in some South East office markets, most notably Oxford where prime rents at the end of Q2 2023 reached £63psf, an increase of 70% from the level seen in Q4 2019. The increase has been driven by the lack of prime stock available and the huge growth of the science and tech sector, fuelling demand for office and lab space.
Despite overall take-up outside of London declining year-on-year by 13%, demand for the best quality space was high across the whole of the UK in H1 2023. Two of the three largest deals in Q2 took place in newly completed space, led by RE-defined taking up 36,300 sq ft of new space at Louisa Ryland House in Birmingham.
In tandem, the supply of new, grade-A space remains at critically low levels in some markets.
Simon Brown, head of UK Office Research, said: “One of the consequences of the supply/demand imbalance for the best quality space has been rapid rental growth at the prime end of the market. Deals transacted since the start of this year have set record high benchmark rents in most cities and many city office markets are recording prime rental values ahead of pre-Covid levels.”
Matt Willcock, executive director, office investor leasing, at CBRE, added: “Beyond London, our major city office markets are outperforming many of the major European markets – Berlin, Milan, Paris – in terms of prime rental growth and values. While broadly speaking take-up may have slowed, it’s clear there is healthy demand from occupiers seeking new, high-quality sustainable office space that enhances connectivity and wellbeing in a collaborative environment.”
Figure 1: Percentage change in prime rental values, Q4 2019-Q2 2023, UK and select major European office markets.
Yorkshire sees one of the strongest rises in start-ups in the UK
Despite companies across the UK continuing to struggle amidst rising interest rates and stubborn inflation, business confidence in Yorkshire and the Humber appears to be resilient with levels of start-ups in the region in July higher than those in much of the UK.
The latest research from the UK’s insolvency and restructuring trade body, R3, which is based on an analysis of data provided by CreditSafe, shows that the number of new businesses in Yorkshire and the Humber rose by 6.5% between June and July 2023. After a year of challenges and economic uncertainty, levels remained consistent year-on-year with an increase from 4,383 start-ups in the region in July 2022 to 4,452 in July 2023 (a rise of 1.6%).
In fact, of the 12 regions and nations surveyed, only Northern Ireland saw a stronger rise in new businesses with a 21.4% uplift month-on-month; and only Wales experienced a fall in start-ups (down by 1.4%) since June 2023.
Another indicator of economic health, levels of insolvency-related activity (which includes liquidator and administrator appointments and creditors’ meetings), also showed a positive picture with Yorkshire and the Humber among the six regions and nations seeing falls since the previous month. The most marked decrease was experienced in the North East (-18.8%), followed by Scotland (-14.3%), Wales (-12.8%) and then Yorkshire and the Humber (-8%). In contrast, the highest increases last month were recorded in Northern Ireland (+14.3%), the South East (+12.6%) and the South West (+9.9%).
Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “The economic climate remains very difficult with both businesses and individuals being forced to tighten their belts in the face of higher interest rates and inflation.
“However, it is encouraging to see that entrepreneurship appears to be alive and well with the percentage of new businesses launching in July increasing month-on-month in almost all regions and nations. It is also good to see Yorkshire’s legendary grit with the region among the strongest performing both in terms of start-ups and insolvency related activity.
“However, after five years of lost growth, there are still real fears that the UK economy may slide into recession next year with output remaining lower than its pre-Covid peak. As we head into the winter, it is vital that directors continue to adopt a cautious approach, keeping a close eye on their finances and seeking professional advice as soon as any problems become apparent.”
Transformation of eight storey office building into residential scheme nears completion
Work will complete on a new multi-million-pound build to rent development in the heart of Leeds city centre in the next two weeks.
The development, known as Q Three Residence, has seen a former eight storey office building transformed into 133 studios and one-bedroom apartments on Westgate, close to both Leeds Town Hall and the city’s financial district.
The scheme will be owned, operated and managed by Leeds-headquartered property company, YPP Lettings and has been designed by Brewster Bye Architects.
In addition to the fully furnished homes, Q Three Residence will offer communal areas with open lounges, workspaces, a private dining room and choice of gyms, including a health suite for women. There will also be a concierge service and ultrafast Wi-Fi.
A spokesperson from YPP Lettings said: “This is another exceptional development from YPP Lettings that is ideally located just a short walk from the railway station, the universities and the city’s main retail and business areas.
“As a result, we’ve been inundated with enquiries and have already agreed a healthy number of lettings, with the vast majority being taken by young professionals and students, which will create a fantastic community. There are now only a couple of studio apartments still available, and the one-bedroom apartments are also going fast.”
Andrew Chapman, a director at Brewster Bye, said: “Q Three Residence has seen a 1980s office building repurposed and transformed into a hugely impressive residential development and there’s no doubt it’s going to be a special place to live.
“We’ve specifically designed the scheme to combine high quality apartments with superb communal areas and as work approaches completion, it’s exciting for everyone involved in the project to see our designs becoming a reality. The apartments on the upper floors are another genuine highlight, and we’ve devised these to maximise their far-reaching views across the city centre and beyond.”
FSB report urges Government to invest more in small firms
The Federation of Small Businesses has called on the Government to kick-start economic growth by investing more in in small firms.
The report, titled The Tech Tonic, looks at the types of new ideas and technologies small firms used to drive productivity as well as the barriers they face against the backdrop of scaled down government support.
FSB Policy Chair Tina McKenzie said: “The use of technology and innovation is a major force in economic growth, which is exactly what our country needs right now.
“The pandemic has shown how quickly start-ups and small businesses are to move with new ideas that change the economy, often up against large incumbents. These small firms are keen to keep that legacy alive but are also facing scarcer government support – cuts to R&D Tax Relief Scheme for SMEs, the scrapping of Help to Grow: Digital Scheme, and downscaled support for Growth Hubs.
“The reduced government support is down to a top-down approach to innovation policy overlooking the potential of 99% of the total business population. Becoming the next Silicon Valley won’t crack the productivity puzzle, if we can’t also encourage all firms to adopt new technologies and improve their process. Innovation must be for the many, not for the few.”
Earlier this year, the Government made cuts to the R&D Tax Relief Scheme for SMEs. Business support and funding to encourage tech adoption by small firms have also been significantly reduced in the past years.
FSB’s research shows seven in ten (69%) small firms have introduced a new form of innovation in the last three years. This includes the development of an entirely new product(s) to their market (25%), significantly improved existing or new product(s) (38%), and better staff and customer experience (25%).
Small firms with new and improved products say increased turnover or profit is the main catalyst for change, followed by their desire to diversify their business. Those that have introduced new or enhanced staff and customer-facing process are mostly motivated by the need to increase business resilience and automate.
The average cost of introducing any types of innovation over a three-year period amounts to over £27,000 for a small firm, and the changes on average increase revenue by 14.8%, says the FSB report.
But barriers remain for small businesses aspiring to go further with their tech investments and innovation.
Two-fifths of small business owners say they don’t have time to develop new ideas or adopt technologies to innovate their business, while 28% identify affordability as a barrier. A further 17% feel that they lack the know-how to implement changes.
Half of small firms say additional government grants would encourage them to innovate, and 46% say extra tax relief would do so.
There should be non-financial incentives as well, with close to a third (28%) of small firms seeking help with implementation. More than a quarter (26%) want better information and advice, and a similar proportion (24%) say they need more suitably skilled staff.
Rethink brings seven Class 6 compliant vehicles into its fleet
Doncaster construction site hoarding provider Rethync has bought a new fleet of Class 6 compliant vehicles to coincide with the company’s office relocation. The vehicles were sourced from fellow Doncaster business, Lyndon Systems.
The acquisition of these seven new vehicles marks an important milestone for Rethync as they continue to expand their operations and meet the growing customer demand.
Rethync MD Phil Chadwick said: “We are thrilled to announce the acquisition of our new fleet of class 6 compliant vehicles. This investment demonstrates our unwavering commitment to meeting the evolving needs of our customers and ensuring their satisfaction. The expanded transportation capacity will enable us to respond even more efficiently to project demands, regardless of the location.
“As we continue to expand our operations, it is essential to have reliable and efficient transportation options in place. The new fleet will not only increase our overall capacity but also enhance our ability to deliver projects on time, ensuring customer satisfaction remains at the forefront of our priorities.”
Stirlin marks new era of expansion with latest hire
Lincoln contractor, Stirlin, has welcomed Jayne Southall to its team as business development manager.
The creation of the role marks a new era of expansion for Stirlin. For over 15 years, the company’s focus has been exclusively on serving private clients and joint venture development partners. However, this move signifies a strategic step toward embracing new opportunities with external clients.
With an impressive background as CEO of the Lincolnshire Showground spanning over a decade, Jayne brings with her an extensive network of contacts and important relationships across Lincolnshire.
In her new role as business development manager, Jayne will be strengthening important relationships with Stirlin’s clients and championing the company’s pursuit of external contracts.
Jayne’s career journey spans various domains, including sales, operational management, and financial responsibilities within the construction sector. Beginning her professional journey in the timber import industry, she later transitioned to the Lincolnshire Agricultural Society in 2006, taking on the role of finance and administration manager. Her dedication and expertise led her to rise to the role of CEO in 2011, where she was responsible for all aspects of the society’s commercial and charitable activities including overall responsibility for the Lincolnshire Show and the Showground Events Business.
Reflecting on her new role, Jayne shares: “I am delighted to embark on this journey as the business development manager at Stirlin. Having steered the Lincolnshire Showground through the pandemic, I decided it was time to look for a new challenge.
“I’m looking forward to the collaborative strides we will take together at Stirlin. I’m eager to reconnect with familiar faces and forge new connections to contribute to the company’s growth as it opens up to external contracting.”
Tony Lawton, Managing Director of Stirlin, says: “We are delighted to welcome Jayne as a valuable new addition to the Stirlin team. Jayne will play a pivotal role in Stirlin’s continued growth and fostering fresh opportunities. We’re looking forward to seeing where this next chapter will take Stirlin.”
Spencer Group staff raise more than £3,000 for food bank charity
Staff at Hull-based engineering company Spencer Group have raised more than £3,300 and donated thousands of items to a foodbank charity.
Staff chose The Trussell Trust as the company’s Charity of the Year for 2023, and have organised various fundraising activities since January, including bake sales, fitness challenges and table tennis tournaments.
They have also taken part in events such as Race Against Hunger, a 5km run, walk or cycle and Total Warrior in Leeds, while staff are also due to take part in an inflatable 5km event in Lincoln and the Yorkshire 10-mile race in York as part of the wider Yorkshire Marathon event in October.
The money raised will be donated to The Trussell Trust, which supports a nationwide network of more than 1,300 foodbanks and provides emergency food and support to people locked in poverty, as well as campaigning for change to end the need for foodbanks in the UK.
Items donated at Spencer Group’s head office in Hull are delivered to Hull Foodbank in Paragon Street, Hull city centre, every fortnight and are distributed to four other Trussell Trust foodbanks across the city, where support is needed most. Donation points are also located at every Spencer construction site across the country, with each site donating to local foodbanks in the region.
Matt Mallory, Marketing Manager at Spencer Group, said: “A lot of our charitable work in the past has involved purely raising money and it’s brilliant to be able to give back to the local community by donating food and other essential items to the foodbank.
“Staff have brought thousands of items into our head office in Hull, as well as our sites across the UK, and we’re delighted so many people have got on board with fundraising, events and donations to help the local community.
“Our colleagues are helping to make a big difference and we’re really proud to support the charity.
“The events we’ve organised and taken part in have been great for team spirit and it’s a been a huge team effort. We’re looking forward to raising and donating even more before the end of 2023.”
Last year, Spencer Group staff raised £7,008.91 for Andy’s Man Club, a men’s suicide prevention charity which offers free peer-to-peer support groups across the UK and online.
South Yorkshire firm’s first reimagining of air compressor rolls of the production line
The first reinvention of air compressor technology in more than 85 years has rolled off the production line of a £17m new smart factory at Finningley near Doncaster.
It’s been made by Lontra, an engineering technology company led by innovator Steve Lindsey, which is committed to answering increasing demand by quadrupling the production of their innovative LP2 Blade Blower year-on-year until 2025.
This plan is designed to meet growing industry requirements and provides the market with a new, environmentally sustainable solution for air delivery in industrial settings all over the world.
Mr Lindsey said: “Seeing the first LP2 Blower come off the production line was a real milestone moment for the business.
“This is the first commercial innovation seen in the air compressor market in 85 years and it can’t come soon enough. Heavy industry uses these products to deliver power to manufacturing lines, to drive furnaces, convey material and blow away granules in cement factories and crumbs in biscuit factories.
“All that blowing comes at a heavy cost to the environment. Compressors account for a staggering 10% of Europe’s industrial electricity use, which equates to more than 10TWh (Terawatt-hours) of power per year and some 4.3million tonnes of CO2 emissions.
“We have an innovation that has been designed and now manufactured in the UK, with the investment in our Smart Manufacturing Centre giving us the capability to scale up quickly to meet what we expect to be huge demand.”
Rathlin gets permission for further oil and gas exploration in the East Riding
The Environment Agency has issued a permit variation to Rathlin Energy (UK) Limited to drill additional oil and gas wells and carry out commercial production at West Newton A well site in East Riding of Yorkshire.
The latest consultation on the draft permit in June follows an initial consultation on the application which took place in December 2021. After reviewing all the information submitted in the application and considering all comments from the public and evidence, the Environment Agency has granted a variation to the environmental permit.
Kathryn Richardson, Area Environment Manager at the Environment Agency, said: “The Environment Agency is satisfied that the appropriate measures are in place for oil and gas extraction without causing harm to the environment or human health and, after exploring the issues and concerns that have been raised, it cannot find any reason to refuse the application.
“Before we finalised our decision, we reviewed and considered all comments received. The views of the local community on this site are hugely important, and we thank everyone for their contributions through the consultation.
“In assessing this permit variation, we have completed a detailed and rigorous assessment of Rathlin Energy’s application to ensure the operating techniques and control measures at the proposed facility comply with the legal requirements of the Environmental Permitting Regulations – which are in place to protect people and the environment.”
Rathlin Energy has operated its exploratory oil and gas drill site at West Newton A in East Riding since 2013 under the conditions of an environmental permit. It wanted to vary that permit to allow for the creation of six additional wells and sidetracks, the relocation of oil storage facilities and the installation of gas engines that will produce electricity for export to the National Grid. The company has already secured planning approval for the proposed activity. It is required to have both planning and environmental permitting approved before operations can commence.Firms to donate £135,000 after Bradford pollution incidents
A housing construction company and its contracted engineers will donate a total of £135,000 to the Aire Rivers Trust after polluting Pitty Beck multiple times while building a new housing estate near Bradford.
Keepmoat Homes Ltd, specialising in building residential housing and which owns the site at Heron’s Reach near Bradford, will donate £100,000, while Applebridge Construction Limited, contracted by Keepmoat Homes for the first phase of the development, will donate £35,000.
An investigation by the Environment Agency found that Pitty Beck was polluted a number of times between October 2016 and November 2018 while construction was underway.
The companies submitted Enforcement Undertakings to the Environment Agency, which have now been accepted.
An Enforcement Undertaking is a voluntary offer made by companies and individuals to make amends for their offending, and usually includes a donation to an environmental charity to carry out improvements in the local area.
On 13 October 2016 Keepmoat Homes reported pollution from its site, and an Environment Agency officer confirmed that silty water was running from the site and into the beck. The same happened on numerous occasions over subsequent months. The company did not have an environmental permit to allow for treated water to be discharged into the beck.
As part of the requirements of the Enforcement Undertaking, Keepmoat Homes revised its surface water management plan for the site, constructed urban drainage ponds, purchased a siltbuster and gulley bags to remove sediment from the water leaving site and improved its inspection and monitoring regime.
Applebridge Construction employed a full time health and safety manager, reviewed and updated its environmental management system and delivered bespoke training to staff.
Environment Agency Area Environment Manager Ben Hocking said: “Housing construction companies – like all companies carrying out any major development work – have a responsibility to ensure their work does not impact on the environment and we will take action when pollution occurs.
“While we will always take forward prosecutions in appropriate cases, Enforcement Undertakings are an effective enforcement tool to allow companies to put things right and contribute to environmental improvements. They allow polluters to restore the harm caused to the environment and prevent repeat incidents by improving their training and procedures.”
Dewsbury furniture firm has £2.5m funding package guaranteed by export credit agency
UK government’s export credit agency has issued a guarantee allowing Dewsbury furniture firm Jay-Be to access a £2.5m funding package from Santander UK, which will allow it to boost sales of UK-made products to more than a dozen overseas markets including USA, Canada and the UAE.
Already a supplier to high street names like John Lewis, Bensons for Beds and Next, Jay-Be began exporting in 2012 and now serves customers in more than 15 countries. With this foothold, it will now be able to use UKEF support to ramp up its international sales and bring a Yorkshire export to more people than ever.
Based in Ravensthorpe, Dewsbury, Jay-Be designs and makes all of its products in the UK. Further expansion overseas will help to support jobs within the UK manufacturing sector.
The newly announced UK government guarantee means that Jay-Be can continue its export growth by extending its next-day delivery service to overseas regions where it operates. The extra £2.5m will allow it to invest in overseas facilities where it can keep local stocks, making it possible for the Dewsbury firm to deliver to customers all over the world within a single day.
This is the latest instance of UKEF helping small and medium-sized enterprises across the country access trade funding from the private sector. Four in every five companies which the export credit agency supported in the last year were small-to-medium-sized companies and based outside London.
This deal is also a step forwards for sustainable UK manufacturing, which will help this country’s innovative exports reach a wider international audience than ever. Jay-Be uses materials like sustainably sourced wood and recycled plastic. In 2023, it won the British Furniture Manufacturers ‘Future of Furniture Excellence in Sustainability Award’.
Roger Durrans, CEO of Jay-Be, said: “We are extremely appreciative of Santander UK and UK Export Finance for this support. Our journey into international markets over the past few years has presented its share of challenges, but achieving the export of our beds and mattresses overseas is an accomplishment of which we are very proud.
“Now that we have successfully established a presence in multiple countries, this export loan facility is pivotal. It will enable us to maintain stock in each export market, enhancing our ability to provide an improved local service, which will significantly accelerate our global expansion strategy and ultimately contribute to creating more employment opportunities in our area.”
New £5.5m training centre welcomes first young engineers
A new £5.5m training centre will launch the engineering careers of more than 60 young learners now it is open for business.
The new arrivals at the building at Pioneer Business Park in Stallingborough are among 250 taking up courses at three sites owned and operated by Humberside Engineering and Training Association (HETA).
The new centre is purpose-built and provides facilities for electrical engineering, mechanical engineering, and fabrication and welding, with an IT suite, classrooms and meeting rooms.
It sits at the heart of North East Lincolnshire Council’s £42m South Humber Industrial Investment Programme (SHIIP) area, which is being promoted as a major industrial development opportunity.
Iain Elliott, HETA’s Chief Executive, said: “This is the culmination of about nine years of thought, discussion and planning – and more than a few sleepless nights. We couldn’t have picked a worse time to build it. We exited Covid, the war started in Ukraine, material costs were soaring and supply of materials and labour were an issue. But we were only two weeks late and we were on budget.”
The total investment is £5.5m, broken down into a build cost of about £4.2m with land purchase, fees and VAT making up the rest.
Iain added: “It’s a £5.5m investment in the future of engineering training in North East Lincolnshire and beyond. It’s for those people who are coming out of school and want to take engineering as a career and for employers who need that skilled labour coming through. We know young people are now seeing apprenticeships and engineering and other technical trades as a viable alternative to university.”
New Sheffield BTR development fully let
Iron Yard, Sheffield’s latest Build-to-Rent (BTR) offering, is 100% let just 14 weeks after it was launched to the public.
More than 30% of the 95 one and two-bedroom boutique apartments were let to tenants on the first day of the launch, and a recent open day attracted more than 100 potential tenants, demonstrating the strong demand for high quality BTR living in the city.
Situated in the heart of the city centre, Iron Yard features a gym, concierge service, residents’ lounge, co-working space and communal garden, as well as extensive private parking with EV chargers available.
Oblix Living CEO Rishi Passi said: “Iron Yard was designed to meet the needs of Sheffield’s rising community of young professionals. Everything from the communal amenity spaces to the on-site team and of course the design and finish of the apartments themselves.
“I’m delighted that the development is 100% let in such a short space of time. The demand has been so strong and the response overwhelmingly positive. It’s a real testament to the city and to the partnership with Centrick that Iron Yard has attracted such a diverse range of residents so quickly.”
Residential property management specialist Centrick has been appointed to manage Iron Yard, providing its BTR services, through its new VICI platform.
VICI director Clare Johnson said: “Iron Yard is a fantastic development and we are looking forward to working alongside Oblix Living to deliver outstanding consulting and operational BTR services, which we have continued to grow over many years of experience and expertise in this key growth sector.
“We are going to work together with tenants to create a thriving, sustainable community within this fabulous new development and are already planning the next unmissable community events.”
Work starts on mixed use refurbishment project in Wakefield
Main construction contractor, Priestley Construction, has started work on a £2.5 million mixed use refurbishment project on Marygate in the heart of Wakefield city centre.
The design and build project will see Marygate House, which was originally built as an office building in the 1970s, transformed into 26 apartments over three floors.
In addition, the existing ground-floor retail units will be upgraded with new shop fronts and canopies, to create an impressive and rejuvenated streetscape, on behalf of developer, IP Marygate House.
The development will offer a selection of smart studio apartments, as well as one and two bedroom homes.
The scheme has been designed by Leeds-based PDG Architects and Bingley-based Holdgate Consulting Engineers is providing structural engineering services.
Nathan Priestley, CEO of the Priestley Group, said: “As a Yorkshire-based business, we continue to see the huge potential in the region’s smaller towns and cities, such as Wakefield, which is a city on the up, driven by a council that is committed to bringing its ambitious regeneration plans to life.
“We are thrilled to start work giving Marygate House a new lease of life, as well as significantly enhancing the local street scene in a sought-after part of the city centre, within the main retail centre and close to the historic Civic Quarter.
“Our experience in delivering high quality residential developments in key city centre locations has enabled us to create a vision for a scheme that will be a fantastic place to live, as well as being a valuable asset for both Marygate and Wakefield as a whole.”
Yorkshire business confidence dips but remains upbeat
Business confidence in Yorkshire fell six points during August to 32%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in Yorkshire reported lower confidence in their own business prospects month-on-month, down four points at 32%. When taken alongside their optimism in the economy, down seven points to 32%, this gives a headline confidence reading of 32%.
Yorkshire businesses identified their top target areas for growth in the next six months as investing in sustainability (35%), investing in their teams (32%) and introducing new technology (25%)
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. A net balance of 21% of businesses in the region expect to increase staff levels over the next year, the same reading as last month.
Overall UK business confidence increased to its highest level since February last year, jumping 10 points to 41% in August. All 11 regions and nations reported a positive business confidence reading in August, with nine regions and nations reporting a higher confidence reading month-on-month.
Optimism in the UK economy also increased in August by 16 points to 37%, and the number of businesses expecting an increase in their trading prospects rose by three points to 46%.
Businesses in London reported the highest levels of business confidence at 52% (up 20 points month-on-month), its strongest reading in 14 months. Firms in the South East reported the second highest reading at 47% (up 17 points month-on-month), followed by those in the South West at 46% (up 12 points month on month).
The construction, retail and service sectors all saw a rise in business confidence in August. Services gained 12 points to reach a 22-month high of 42%, while retail firms were up nine points to 44%, an 18-month high. Construction firms’ confidence also increased by 11 points to a four-month high of 42%. In contrast, manufacturing confidence fell for a second consecutive month with a 4-point decline to 30%, taking it to the lowest level since April 2023.
Steve Harris, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “Despite a small dip in confidence this month, it is encouraging to see that businesses remain resilient in their efforts to grow. It’s especially positive that sustainability is a big priority as this is not only critical to support the transition to Net Zero but we also know it can present significant financial opportunities for businesses.
“Firms looking to invest in improving their sustainability should take advantage of the discounted lending available for these projects and seek support where they need it to identify new avenues for green growth. As always, we’ll remain on hand to provide businesses with practical tools and support as they achieve their ambitions.”
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “The bounce in economic optimism this month is the standout point. Our analysis shows that businesses felt relief that interest rates may be reaching their peak, alongside hopes that measures to tackle inflation are having an impact.
“With trading prospects remaining stable, and hiring and wage intentions also rising, the macro environment for small businesses and those outside the manufacturing sector is more upbeat.
“From the data, large firms and manufacturers are experiencing some degree of caution, which is likely to reflect the wider global economic environment and, for manufacturing, the rotation of spending towards services.”
Biomass business snapped up in multi-million pound acquisition
Flush Energy Limited has looked to Lincolnshire for its first acquisition, as the start-up business seeks growth opportunities in the biomass sector.
Flush Energy has secured a multi-million pound funding package comprising private equity investment as well as debt finance to assist with its growth plans, following its acquisition of the business and assets of 3F Pellets Limited (in administration), a manufacturer and supplier of wood-based pellet products including biomass heating pellets.
Flush Energy is now focussed on returning the Lincolnshire-based plant to production and targeting further acquisition opportunities.
Led by corporate partner, Philip Ashworth, a multi-disciplinary team at Andrew Jackson Solicitors LLP comprising Nicole Waldron (corporate), Samuel Peake (property), Nick Wilson (employment) and Fiona Phillips (tax), advised Flush Energy on the acquisition from joint administrators, Andy Pear and Milan Vuceljic of Moorfields Advisory.
Andrew Jackson also advised Flush Energy on the private equity investment and debt finance package.
The insolvency and reorganisation team at international law firm Clyde & Co LLP, led by partner Andrew Foster and assisted by Tristan Cox-Chung (legal director), Andrew Robertson (senior associate) and Lily Pidge (associate), were instructed by the joint administrators on the acquisition.
Clyde & Co’s corporate team, led by partners Simon Gamblin and Rob Lowe, provided legal advice to the debt funders.
Grant Lodge, CEO of Flush Energy, said: “We are delighted to have concluded the acquisition of the Lincoln pellet plant and are making swift progress with getting it back into production and yielding RHI income.
“We look forward to continuing to work with Philip Ashworth and his excellent team at Andrew Jackson Solicitors, who we expect to be a key part of our team, helping us with our growth plans in the coming years.”
Philip Ashworth said: “We are absolutely delighted to have assisted the team at Flush Energy on its first acquisition. It has been a complex transaction involving various regulatory issues, raising private equity and debt funding. Flush Energy is now well placed to grow the business, which offers a solid customer base from a fantastic location.
“It has been a pleasure to act for Grant and his team and we are confident that they will make significant in-roads into the biomass sector over the coming months.”
