Positive signs for Yorkshire’s retail sector as Leeds and Sheffield emerge in UK’s top 10 growth cities

Tess Egginton
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Positive signs for Yorkshire’s retail sector as Leeds and Sheffield emerge in UK’s top 10 growth cities

The Yorkshire region fares well in the retail sector with both Leeds and Sheffield ranked in the UK’s top 10 growth cities according to CBRE’s latest research report ‘Which City? Which Sector? Real Estate Prospects over the Next Decade’. Leeds is ranked fourth in the retail sector with Sheffield positioned eighth.

CBRE examined the growth prospects for 12 real estate sectors across the 50 largest regional towns and cities in the UK. Findings were informed by economic drivers (including GDP, employment and income growth), demographic trends and property market data such as supply pipeline, local universities and housing affordability. The top 10 performing cities and growth sectors were identified.

Ram Rasiah, senior director, CBRE said: “It’s great to see two Yorkshire cities in the top 10 list. Retail continues to adapt to changing consumer habits and repositioning the role of the store. Within this, the polarized performance of retail locations is becoming increasingly apparent. While small, local destinations continue to remain relevant through their convenience and regional schemes benefit from their critical mass, the performance of mid-sized locations has been more challenged.

“In contrast, larger locations deliver a greater catchment potential. And aligning these trends, population and expected population growth were among the metrics used in our analysis. Birmingham ranks strongest in this measure, followed by Leeds and Glasgow,” continued Rasiah.

Birmingham took the top spot for retail followed by Bristol and Manchester respectively.

Retail performance is not only driven by scale. CBRE’s research has shown that affluent cities see healthier property performance, have lower vacancy rates and experience higher rental and capital value growth. A review of average household incomes ranks Sheffield highly versus other locations. A comparison of cities highlights Bristol and Manchester with the strongest growth potential.

In addition, a critical driver of a retail location’s performance is the balance of supply and demand. Allowing for a shift of some spend online, CBRE estimates that the volume of retail floor space in the UK will need to decrease by 16% to reach average sales densities of 2015-2020. Ranking cities by floorspace per capita and a review of vacancy rate data, gives an indication of potential oversupply in locations. The majority of the top ten potential growth cities identified have a lower retail floor space per capita than the sample average, with Sheffield and Bristol in the strongest position.

Leeds ranked sixth in the office sector with Sheffield taking the eighth position for growth cities. Manchester, Bristol and Birmingham placed as the top three growth cities in this sector.

Alex Hailey, senior director in CBRE’s Office Agency team in Leeds, said: “It’s great to see both Leeds and Sheffield identified in the top 10 growth cities. The role of the office has changed over time to align with occupier requirements, as the way we use offices evolves.  The movement from cellular offices to flexible and agile formats has reduced the average space requirements per employee and hybrid working is challenging historic working norms.

“Occupiers focusing on talent attraction and retention are considering a range of flexible, amenity-rich spaces to curate the optimum user experience. But in tandem with these trends, demand for office space ultimately continues to be driven by the wider economic environment. Economic and demographic factors are fundamental when identifying key growth markets for office real estate.

“The size of the talent pool is a key factor used in forecasting office demand, with growth in those of working age and populations with qualifications at or above Level 4, could indicate the potential for employment growth by office-based sectors,” continued Hailey.

Supply factors are also key when considering a market’s ability to support future demand.  In the flight to quality office space, CBRE expects pre-letting of development space to continue. 29% of space under construction is already pre-let or under offer in eight of the top ten markets where CBRE tracks pipeline data.

Sheffield placed third behind Manchester and Bristol in the urban logistics sector with Leeds ranked ninth.

As supply chains diversify to keep up with accelerated online retail activity and consumer expectations, increased demand is being placed on smaller prime urban logistics facilities located in the UK’s major metropolitan areas. These provide more agile warehouses, accommodate numerous delivery vehicles, increase cost efficiencies and shorten delivery times for end consumers.

Online shopping is a major driver in the demand for urban logistics space and the report has identified locations with a high online penetration percentage, access to high-speed internet and a forecasted growth in population of age groups with a high online spend propensity. Sheffield, Manchester and Bristol ranked highly in the growth of 34-49 year olds at 13.52%, 10.63% and 9.86% respectively.

Sheffield also ranked fifth in the Single Family Housing sector with Manchester, Birmingham and Bristol taking the top spots. Sheffield has the most affordable rental market for houses in CBRE’s top five – the average rent for a house accounts for 37% of a single local income.

Jennet Siebrits, UK head of Research at CBRE, said: “Leeds, which has one of the most diverse economies in the UK, ranked particularly well in the office and retail sectors and Sheffield was ranked among the highest cities respectively for projected growth in the urban logistics sector, which has undergone a period of supply chain diversification to keep up with accelerated online retail activity and consumer expectations since the pandemic.

“The way towns and cities evolve is very much reflective of their local geographies, natural resources and cultural history. As a result, no two UK cities are the same and subsequently, different real estate sectors thrive in different locations. Real estate professionals need to be mindful of these differences to help inform their future strategies.”

Snaith-based Croda starts work on manufacturing plant in America

Stuart Pearcey
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Snaith-based Croda starts work on manufacturing plant in America
Snaith headquartered Croda has broken ground on its newest manufacturing facility in Lamar, Pennsylvania. The company is investing in the new 23,680 square-foot facility to make ingredients for drug delivery systems used in therapeutic drugs such as mRNA vaccines and gene editing therapies. The facility will support the production of lipids already used in therapeutics and vaccines, such as the COVID-19 vaccine, as well as supporting next generation therapeutics currently being developed, including lipids used for cutting-edge cancer treatments. As the U.S. looks to expand domestic manufacturing of critical vaccines and therapeutics, Croda’s new Lamar facility, a cooperative project between the federal government and Croda, will play an important role in supporting future medicine discovery. Bradley Cook, Vice President of Coda’s North American Operations, said:“There are rare moments that a team can contribute to such a significant betterment of humankind. The on-going collaboration with the Department of Health and Human Services and its premier biomedical countermeasure development agency, BARDA, has afforded Croda and this team the opportunity and we are extremely excited and proud.” Construction will begin this year with the new capacity anticipated by 2025. This facility, part of an 80-acre multipurpose cGMP site, was purchased by the company in 2021, will bring up to 50 new jobs to Pennsylvania which will include engineering, administration, maintenance, operations and logistics roles. From inception, the vision of this site is to fully contribute to Croda’s sustainability goals.

Beverage systems company sold to Swedish group

Tess Egginton
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Beverage systems company sold to Swedish group
Stanwell Group Ltd has been sold to a leading Swedish-based group operating in niche technology markets, with KBS Corporate advising on the sale. Holmfirth-based Stanwell offers innovative solutions to the beverage industry, including fluid dispense pumps, valves and complete systems. The company has grown significantly since being founded in 1990 and now offers a turnkey manufacture, supply and refurbishment service. KBS was instructed by the sellers to facilitate their eventual retirement plans. The shareholders will retain active roles in the business for the immediate future. Fabio Rambelli, KBS Corporate associate director who oversaw the sale, said: “I recall my first meetings with Doug, Joanne and Jonathan from Stanwell and being very impressed with the business, the products and the innovation. “I could see how much the sellers cared about securing a buyer that would ensure the future success of Stanwell, to take great care of its staff and client base while maintaining the strong legacy of the brand.” Teqnion was the successful buyer, having been active in the M&A space for a number of years across the UK, Ireland and mainland Europe. The industrial group operates through multiple independent subsidiaries, acquiring scalable companies which can succeed in narrow technology niches. Teqnion is listed on Nasdaq Stockholm and will continue to develop its decentralised subsidiary management philosophy. Doug Gorton, sales and technical director of Stanwell, said: “Teqnion shares the belief that the key to building a successful company is through the strength of its people and the enduring relationships they build and maintain. “Teqnion is exactly what we were looking for and Fabio was excellent throughout the process – a pleasure to work with.” Teqnion CEO Johan Steene is excited about the future of Stanwell under new leadership and the opportunities the business offers. “Since we love companies that supply products with long-term relevance, Stanwell is definitely for us,” he said. “The company’s customer relationships are solid and the enduring demand for its products is likely to persist through economic fluctuations.” Fabio Rambelli added: “It has been an absolute joy to work with Doug, Joanne and Jonathan from Stanwell, as well as Johan and Daniel (Zhang) from Teqnion. “I have no doubt Stanwell will have a bright and prosperous future under the Teqnion leadership and I wish all parties the very best of luck in their future endeavours.”

Fishermen’s Mission returns to Port of Grimsby

Stuart Pearcey
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Fishermen’s Mission returns to Port of Grimsby
The Fishermen’s Mission has returned to the Port of Grimsby, supporting fishermen and their families. The organisation has moved into a first-floor room within No 2 Auckland Road, given to the organisation by WE1 Heritage who have leased many of the buildings in the historic part of the port known as the Kasbah. Simon Bird, Director, ABP in the Humber said: “We’re pleased the Fishermen’s Mission have decided to relocate into the port of Grimsby itself. They offer a much-needed service to not only retired fishermen, but to those visiting the port.” Superintendent Suesan Brown, Mission Area Officer, said: “I am so grateful to Steve from WE1 Heritage for the work he is doing and the help he is providing, not just to us but to so many. Our wonderful new office is open to active and retired fishermen and their families.” Steve Ridlington, MDr of WE1 Heritage said: “When I heard that the fisher folk were struggling to get to see the Port Missioner following a change in their office, I offered analternative that allowed the access to return and for the Fishermen’s Mission to return to its home near the fishing quays on the docks.” Suesan and her team will be on hand to support working fishermen within the port and retired with welfare and care. Later in the year the first of the SeaFit programme welfare visits will be in the port. This is a joint initiative between the Fishermen’s Mission and the Seafarers Hospital Society.

Local authorities approve £3.1m funding package to save Doncaster Sheffield Airport

Stuart Pearcey
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Local authorities approve £3.1m funding package to save Doncaster Sheffield Airport
South Yorkshire’s Mayor and local leaders have approved a £3.1m funding package to support the reopening of Doncaster Sheffield Airport. At the Board meeting of the South Yorkshire Mayoral Combined Authority, the sum was agreed to help with the costs of building a case for the Compulsory Purchase Order process currently being undertaken by the City of Doncaster Council. Mayor Oliver Coppard and the leaders of the four South Yorkshire councils also agreed a funding package towards the purchase of the Airport, should the CPO ultimately be successful. Oliver Coppard said: “We haven’t given up on our fight to reopen DSA.  Since Peel announced their intentions to close our airport, I’ve been working alongside partners from across the region to first keep it open, and now to bring it back into use. We’re not going to stop until we’ve exhausted every option. “The Compulsory Order Process is our last, best hope to take back control of DSA, and that’s why today we’ve agreed £3.1 million from South Yorkshire’s MCA to support Doncaster in their pursuit of that CPO, and a funding package to purchase the site should the CPO – as we hope – be successful. “There are no easy or quick answers in this process. The CPO could take up to two years, and there are loads of hurdles in the way. But across South Yorkshire we are determined to do everything we can to bring DSA back into use, and to make it the thriving regional airport we know it can be.” Mayor of Doncaster Ros Jones said: “Having an airport in Doncaster is vitally important to our city and the economic and growth fortunes of South Yorkshire.  Businesses and communities in the region want to see a thriving airport so I am thankful for the support from SYMCA in helping with our efforts to secure its future.” Doncaster Sheffield Airport was closed in 2022 after its owners Peel Group decided the airport was no longer financially viable. Research carried out as part of the region’s response to Peel Group’s review into the viability of the Airport found that DSA supported around 2,700 jobs and contributed more than £100m to the regional economy when it was operational.

East Midlands accountancy firm forges link with London-based private equity business

Stuart Pearcey
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East Midlands accountancy firm forges link with London-based private equity business
East Midlands accountancy, business advice and wealth management business Duncan & Toplis is accelerating its growth plans through external investment from private equity firm Blixt Group. Blixt is a pan-European private equity firm headquartered in London, with access to over €250 million of committed long-term institutional investor funding. An experienced investor in professional services, Blixt is committed to the UK accounting, wealth management and legal services sectors. Blixt focuses on growth-oriented businesses, helping its partners to build leading businesses. At the heart of the Duncan & Toplis growth strategy is the continued investment in its team, the expansion of its service proposition and the leveraging of technology to unlock new opportunities for the business’ team members, clients and communities. This will be complemented by acquisitive growth. Adrian Reynolds, MD at Duncan & Toplis said: “The core of our culture is based on doing right by our people, our communities and our clients and this will remain so. “Over almost a century, Duncan & Toplis has been a trusted partner to generations of people, businesses and communities and we’re always working to have a greater positive impact. Our new growth strategy will start the next 100 years as we mean to go on, accelerating our progress and protecting that which makes our business special, while taking it to the next level. “Blixt is an ideal partner for us because they share our focus on culture and growth for the right reasons. They also bring incredible expertise in strategic thinking, supporting us in the direction we want to travel in, helping us further along the path and accelerating our progress. “Fundamentally, their support means that in the next few years, we can achieve what we would have hoped to achieve in 10+ years, and that’s very exciting.” Carl Harring, CEO at Blixt said: “We have been impressed by the quality, track record and ambition of Duncan & Toplis, and its exemplary commitment to both its people and its clients. We really look forward to partnering with the team at Duncan & Toplis and other like-minded accounting firms to help accelerate growth.” Duncan & Toplis group was founded in 1925 in Nottingham before it relocated to Grantham and expanded across the East Midlands. It provides businesses and individuals with a range of services including accountancy, audit and assurance, tax and business advice, wealth management, legal services, payroll, marketing, HR, and international business services. All Duncan & Toplis board members, directors and team members will remain in their existing roles, with Adrian Reynolds continuing as managing director of Duncan & Toplis and Andy Severn as managing director of wealth management business Castlegate which is part of the Duncan & Toplis group. The agreement with Blixt is subject to regulatory approvals and is due to complete in Autumn 2023. Once approved, this investment will commence the most ambitious period of growth and expansion in the nearly 100 year history of Duncan & Toplis.

Chamber CEO to champion South Yorkshire in national skills debate

Stuart Pearcey
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Chamber CEO to champion South Yorkshire in national skills debate
Doncaster Chamber Chief Exec Dan Fell will be part of a panel discussion about skills this week when the Northern Research Group returns to the city bringing together Government Ministers,MPs and influential business leaders For the second year in a row, the NRG will meet at the city’s famous racecourse. The group’s annual conference, launched last year, is a forum for sharing insights and generating ideas that will ultimately contribute to northern prosperity. For the 2023 event, many of the confirmed delegates are high-profile speakers from the government, such as the Under-Secretary of State for Levelling Up, Dehenna Davison MP, and former Chancellor of the Exchequer, George Osborne. Mr Fell said: “We constantly hear from businesses about what they deem to be their greatest challenges and, across all different sectors, no single issue rears its head more often than that of skills. “Many local employers are finding it difficult to fill their outstanding vacancies and to attract the talent they need in order to grow, innovate and thrive. Meanwhile, a lot of South Yorkshire’s residents are simply not equipped with the skills they need to make themselves viable candidates for the best jobs available in the region. “While this is certainly a problem that we —   as a voice for business —   want to get on top of, there is a danger that we get too dispirited here and overlook all of the amazing programmes, institutions, and education providers in our region that are already delivering excellent skills activities. Indeed, the situation is not as bleak as we sometimes imagine it to be, and there are a lot of great things happening right on our doorstep in South Yorkshire. “For example, we have the Advanced Manufacturing Research Centre (AMRC). A world-class partnership between the University of Sheffield and various heavyweight companies — like Rolls Royce, Boeing and McLaren — this institution is creating plenty of opportunities and opening doors for those who want to get into the manufacturing industry. “Elsewhere, South Yorkshire is home to three brilliant University Technical Colleges (UTCs), the newest of which is over-subscribed twofold, owing to high demand for its excellent provision and well-established employer relationships. Not to mention, the rest of our region’s further education colleges are ranked Ofsted good or better as well. “In addition to boasting these exemplary providers, South Yorkshire has also negotiated an Adult Education Budget that — when coupled with our upcoming Local Skills Improvement Plan — will enable more agile and innovative skills commissioning. “In short, although it cannot be ignored that there are major skills-related challenges, both here and across the UK in general, we have some great practice and innovative solutions in South Yorkshire that should be acknowledged. “I am greatly looking forward to highlighting these at the Northern Research Group conference, to discussing how they can be built upon and replicated elsewhere, and to injecting a little more positivity into the skills debate.”

Leeds’ Globe Point almost fully let as fifth new tenant secured

Tess Egginton
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Leeds’ Globe Point almost fully let as fifth new tenant secured
CEG has secured a fifth tenant to the Globe Point development in Leeds in a matter of weeks. Specialist Computer Centres (SCC), part of the global Rigby Group headed up by Sir Peter Rigby, will move to the striking flat iron design building next month. Relocating from Wellington Place, SCC was attracted by Globe Point’s ESG credentials, location and design. Liam O’Keeffe, Rigby Group’s asset manager, said: “SCC has invested significantly in the occupational Real Estate portfolio in the last few years, following the refurbishment of the Global Head Quarters in Birmingham, the relocation of the London City office and the new Bracknell office, to name a few. Globe Point, Leeds is the latest in a series of exciting commitments by SCC, built upon the continued success and growth of its Northwest commercial business. “The South Bank area of Leeds has been utterly transformed over recent years. The Globe Point development, part of the wider Temple Masterplan, has phenomenal environmental credentials, a fantastic contemporary design and is only minutes from Leeds Train Station. Globe Point has provided another progressive acquisition for SCC.” The company joins global legal practice Reed Smith, which announced its relocation to the site this month, brand design agency Robot Foods, marketing and data science company Jaywing, and Butlers, which runs the 65-cover ground floor café bar. As a result, only 17,434 sq ft remains at the 40,430 sq ft seven-storey office development. Once fully occupied, the building will be home to more than 800 people. Knight Frank and Fox Lloyd Jones are marketing the building on behalf of CEG. Eamon Fox, partner and head of office agency at Knight Frank in Leeds agreed the deal with SCC. He said: “Yet again we have another tenant’s flight to quality. Globe Point is the result of focused design, innovation, appealingly dominate features, truthful expression, thorough to the last detail, and environmentally friendly. Design which understands our audience in Leeds for workspace, and which was clearly visible to SCC. “One of the highest specification offices on the market, Globe Point is now home to a diverse range of occupiers, from a global legal company to a pan European technology business.”

Olivia McDowell, investment manager at CEG, said: “It is fantastic to see SCC join the thriving business community within Globe Point. As a company with a wide range of public and private sector clients, the location, as well as the quality and design of the space appealed. Globe Point has fast become a success story delivering a new benchmark for the Temple district.”

ABP invests £1.5m to digitise asset management throughout the company

Stuart Pearcey
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ABP invests £1.5m to digitise asset management throughout the company
Associated British Ports has invested £1.5m a a project to digitalise asset management across its network of 21 ports, providing a mobile solution that will enhance the reliability and sustainability of port operations. ABP says an investment of this size reaffirms its role as a pioneer in driving digitalisation in the UK ports sector. In collaboration with Mainsaver and Spidex, this wider rollout follows a successful pilot of the new technology, undertaken at ports including Immingham and Hull. Working with ABP employees in roles which interact with Mainsaver Connect maintenance management application software, the trial ensured that both large and small ports were considered to fully test the practicalities of implementing and allocating work in a digital manner. The deployment of the product, Mainsaver Connect, is a mobile derivative of the Mainsaver Computerised Maintenance Management System (CMMS), a US product which is supported by Spidex, a UK based developer and affiliated support arm. Mike McCartain, ABP’s Group Director of Safety, Engineering & Marine, said: “Going digital with our asset management is an important step in building the sustainable Ports of the Future, where information is shared accurately and instantaneously, so that we can make well-informed decisions, spot trends and optimise the safety and sustainability of our operations.” The mobile device rollout, which begins this week, will include the deployment of hundreds of tablets and focussed training sessions for engineers across ABP’s regions, which will aim to equip them with the skills and knowledge to work optimally and maximise the benefits they get from using the technology. Taking place in parallel across ABP’s business regions of the Humber, Southampton and Wales and Short Sea Ports, the rollout will be delivered via a team approach, headed up by a lead ABP representative in each region. Nicole Geraghty, ABP Port Planner (Maintenance), said: “I really look forward to working with this powerful new tool. It’s helpful that it will provide access to ‘real time’ information, saving our engineering teams time and ultimately keeping being able to make informed decisions based on accurate information.’” “It is an exciting time at ABP as we see investments not only in digitalisation but also in upskilling our people and electrifying plant, cranes, vehicles as part of our ambition to make port operations more sustainable. I am thoroughly enjoying being part of ABP during this new phase.”

Site remediation paves way for new residential development in Huddersfield

Tess Egginton
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Site remediation paves way for new residential development in Huddersfield
Urban Group (York) Ltd has won a significant contract from Yorkshire Housing to deliver 22 new homes in Newsome, Huddersfield. The site, off Hart Street, sits by a former mill. Urban Group is currently carrying out the remediation phase of the project prior to commencing infrastructure works on the development. The scheme comprises a mix of two and three-bed semi-detached affordable homes, as well as associated landscaping, access, roads, and sewer installation. The development will complete in spring 2024. Rick Long, head of Housing (Construction) at Urban Group, said: “The team is delighted to be working with Yorkshire Housing on this exciting development. “The initial phase of the development has proved to be challenging. Prior to commencing works on site, a flock of ducks had taken up residence on the former mill ponds, and a small number of fish had also found their way into the ponds. The ducks were given time to leave the ponds of their own volition, whilst the fish were humanely re-located prior to the ponds being drained. “We worked closely with Yorkshire Housing and architects, Brewster Bye, during the planning process and look forward to delivering a successful and high-quality development which will help to address the shortage of affordable housing within easy reach of Huddersfield town centre.” Anthony Askew, development manager at Yorkshire Housing, said: “We’re delighted to be working with Urban Group (York) and Brewster Bye, and that this project is now underway. “When complete, this site will provide over 20 families with high-quality affordable homes and brings us closer towards our plans of delivering 8,000 new homes over the next few years.”

Government plans to simplify employee share schemes to boost business growth

Stuart Pearcey
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Government plans to simplify employee share schemes to boost business growth
Schemes offering people shares in their employer are set for a shake up as the government explores changes that will help boost business growth, supporting the Prime Minister’s priority to grow the economy. In a new call for evidence the government wants to hear views on Save As You Earn and the Share Incentive Plan as it seeks to improve the schemes and expand their use by making it easier for businesses to set them up and offer them to staff. This comes as an HMRC evaluation report shows that 81% of businesses say these schemes help boost their business, with almost three quarters of these saying it has helped them retain and recruit staff. 31% of businesses which are unaware of these schemes say they are too complicated to set up. Victoria Atkins, Financial Secretary to the Treasury, said: `”Employee share schemes are an effective way to boost motivation in workforces by giving people an extra stake in what they do – and they offer a boost for business. Growing the economy is a priority for this government and one way to make this happen is by making these schemes as easy as possible to set up.” The two schemes up for review are:
  • Save As You Earn (SAYE): this allows employees to buy discounted shares in their company if they save money each month for three to five years.
  • Share Incentive Plan (SIP): this allows companies to help their employees to purchase shares directly in their company or offer them as tax-free awards.
HMRC says 50% of companies which have set up a share scheme have done so to create a feeling of ownership among their staff, with other common reasons being to help retain staff and skilled employees, attract skilled employees and improve staff morale. The call for evidence comes after venture capital firm Index Ventures praised government reforms to a separate scheme, the Company Share Option Plan, placing the UK as joint top among G7 countries in share option policy. These reforms saw a doubling of the amount of share options employees can be granted and removed restrictions on which kind of shares could be included. Index said the moves the government took were “helping scale ups attract and retain the talent they need”. The government is looking to replicate this success through similar reforms for SAYE and SIP and is particularly interested in understanding whether the schemes are attractive to lower income earners.

Hull company described as ‘fantastic’ after rebuilding historic suspension bridge

Stuart Pearcey
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Hull company described as ‘fantastic’ after rebuilding historic suspension bridge
Hull-based Spencer Group has been hailed as ‘fantastic’ for its work to completely refurbish and rebuild the Union Chain Bridge linking England and Scotland – one of the world’s oldest suspension bridges. The bridge crosses the River Tweed from Horncliffe in Northumberland to Fishwick in Berwickshire has a single span of 449ft (137m) and was the longest wrought iron suspension bridge in the world when it opened in 1820. Ted Cawthorne, Honorary Treasurer of the Friends of the Union Chain Bridge, which was formed in 2014 and has more than 700 members, said: “It’s been an incredible job by Spencer Group and we’re absolutely delighted to have the bridge back. It’s a vital link between the communities on either side. “The bridge is an important part of the local scene, so we’re very pleased to have it back fully installed and in use again. “It looks wonderful and even more elegant than it did before. There are some differences that have been made during the restoration, with some necessary modern interventions, but that’s just a sign of this remarkable bridge moving with the times. “It’s a terrific achievement and it means a great deal to us to have it restored and fit for use for another 150-200 years. “The remarkable thing is that many of the original components are still intact, which means they will be  up to 400 years old by the time it might need another restoration.” Union Chain Bridge, which is both a Grade I listed building in England and a Grade A listed building in Scotland, is credited with being a catalyst for bridge innovation. It influenced the design of many other famous structures and remains the world’s oldest suspension bridge still carrying traffic. A funding bid was submitted to the National Lottery Heritage Fund (NLHF) by Northumberland County Council, Scottish Borders Council, Museums Northumberland and community group the Friends of the Union Chain Bridge, amid concerns about the condition of the bridge. Spencer Group worked closely with the Friends of the Union Chain Bridge, along with other community groups, the two councils and Museums Northumberland to keep them informed and updated throughout the delivery of the project. Mr Cawthorne added: “Spencer Group have been fantastic and have engaged with us every step of the way. We couldn’t have asked for more. “It’s been a privilege to have them in the community and working with us. They’ve been marvellous and they’ve really integrated into the community. The team has been very approachable and all of them have been very friendly as well.”

Team17 names new CEO

Tess Egginton
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Team17 names new CEO
Yorkshire-based video games label Team17 has appointed Steve Bell as Chief Executive Officer. Steve will join the Board on 4 September 2023 as Group Chief Executive Officer Designate, formally assuming the role of Group Chief Executive Officer from 1 January 2024. Debbie Bestwick MBE will continue in the role of Group Chief Executive Officer until 31 December 2023, working closely with Steve in the initial months of his appointment to ensure a smooth transition and hand over and will then join the Board as a Non-Executive Director on 1 January 2024. Steve joins from Iris Worldwide Holdings Limited, a global integrated marketing agency specialising in brand and digital marketing strategy, which he co-founded in 1999. Steve has amassed extensive digital marketing expertise, having held senior leadership roles since co-founding Iris in 1999, including the role of Global Group Chief Executive since 2021. Managing over 1,000 employees in 14 offices around the world, Steve has overseen Iris’ work with some of the biggest, most creatively driven and technologically advanced global brands and has been instrumental in developing and delivering Iris’ commercial and M&A strategies. Prior to co-founding Iris, Steve worked for the advertising and retail agency Arc Worldwide, spending over five years working across a number of high-profile integrated accounts. Chris Bell, Non-Executive Group Chair, said: “We are delighted to have attracted a candidate of Steve’s calibre to Team17. Having worked with some of the world’s leading brands, Steve brings a wealth of commercial and digital marketing experience to Team17, and we look forward to leveraging this expertise as Team17 moves forward to its next stage of growth.” Debbie Bestwick MBE, Group Chief Executive Officer, said: “As a Board, we have run a rigorous process to find a new Group Chief Executive and we are delighted to announce Steve as my successor. “Steve’s experience as a co-founder of a people-centric business means he understands the importance of our vibrant and inclusive company culture which remains the cornerstone of everything we do across the Group. “I look forward to working with Steve through the handover process, and to supporting him and the broader team thereafter in my role as a Non-Executive Director.” Steve Bell, Group Chief Executive Officer Designate, said: “I am thrilled to be joining Team17. The company has an incredible track record and I’m excited to help build on the Group’s strong foundations to continue its impressive growth trajectory. “I look forward to working closely with the Board, Mark (CFO), Michael, Julia, Tim and Emmet – the Group’s divisional CEO’s and their broader teams to bring even more compelling games and apps to players, alongside driving further momentum by supporting the Group’s successful organic and acquisitive growth strategy.”

Aceso names new risk account handler at Leeds office

Stuart Pearcey
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Aceso names new risk account handler at Leeds office
Growing employee benefits provider Aceso Health and Group Risk has made a new appointment in its group risk division, based at the firm’s Leeds HQ. Carole Lennon joins Aceso as a group risk account handler and has more than 20 years’ experience in the financial services industry. Aceso group risk director Paul Collin said: “I’m really excited to welcome Carole to our team and the whole Aceso and Attis family. As always, we continue to focus on building a team that reflects our fresh approach and innovative customer-focused ethos.” He added: “Group risk is something that increasing numbers of employers are looking to provide, to protect both employees and their business. It covers death in service, as well as helping with costs involved if someone if severely ill or off work sick for a long period. “With the current problems that all sectors are experiencing in terms of recruitment and retaining valued and skilled talent, these kind of benefits are becoming more relevant than ever for employers and can make a huge difference to employees.” Aceso has grown from two employees in 2020 to a team of nine, with further hires planned over the coming months.

Administrators appointed to Lincolnshire food manufacturer

Tess Egginton
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Administrators appointed to Lincolnshire food manufacturer
Lincolnshire food manufacturing business Plant and Bean Limited (P&B) has fallen into administration.

Founded in 2019 and based in Boston, P&B operates in the alternative protein sector, manufacturing for the likes of Quorn, Princes, and Wicked Kitchen.

Like several other businesses across the sector, P&B experienced significant inflation across its cost base, primarily increases in food and energy prices. The business also suffered from several operational issues which resulted in periodic interruptions to production.

Following the appointment of James Clark and Howard Smith from Interpath Advisory as joint administrators on 31 May 2023, the company is carrying out limited trading while the administrators explore options for a sale of the business and its assets. The administrators have retained approximately 25 employees to assist them with ongoing activities.

James Clark, Managing Director at Interpath Advisory and joint administrator, said: “Businesses across the food and drink sector, and especially those in highly competitive sub-sectors such as alternative protein, are facing immense pressures at the moment, with rising costs impacting profitability.”

He added: “Over the coming days, we will be working with key stakeholders to explore the possibility of a sale of the business.”

Hull employment model is emerging as blueprint for change, says MP

Stuart Pearcey
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Hull employment model is emerging as blueprint for change, says MP

The chair of a new All Party Parliamentary Group on modernising employment delivered a strong message to the country’s serviced workspace sector about the opportunities offered by remote and hybrid working.

Emma Hardy, MP for Hull West and Hessle, told the annual conference of the Flexible Space Association that technology can be used to turn redundant retail units into residential and co-working space and let people do meaningful and rewarding jobs without leaving the places they love. She said her “Work Hull Work Happy” project was emerging as the blueprint for change and businesses are coming on board to drive the venture. The MP was invited to address the conference by Freya Cross, the current chair of FlexSA and Head of Business & Corporate at The Deep, which houses more than 40 firms and 250 staff in its business centre in Hull. Ms Hardy revealed that Work Hull Work Happy emerged as a result of her involvement in supporting workers through redundancies at BAE Systems in Brough, where people in research and design were allowed to continue in their jobs as remote workers. She said: “Without this new option, they would have been required to relocate and, no doubt, many would have faced a difficult decision. Not only was this avoided, but BAE discovered that by offering remote working they were suddenly able to recruit talent and skills that had been previously unavailable. “This started bells ringing. If we struggle to bring jobs to Hull, can we instead, through remote technology, bring Hull to the jobs?” Ms Hardy highlighted the changes triggered by the pandemic, with the increase in home working and the move towards conducting meetings over Teams and Zoom. She said: “That is how my office now functions, with a morning Teams meeting and time shared between homeworking and my Hull office. I am one of the only members of parliament to actually have no staff in London whatsoever. They all work hybrid from my office in Hull. “I am acutely aware of the challenges facing the city of Hull and the region. The city ranks high on the Index of Multiple Deprivation. My own constituency is 20th out of 533; North Hull 25th and East Hull 31st. But Hull also has an extensive network of high-speed fibre broadband, unmatched by any other UK city, with full fibre, ultrafast connection available to 98.8% of properties in Hull North, 97.6% in Hull West and Hessle, and 97.4% in Hull North.” The FlexSA membership now extends across more than 1,000 sites nationwide including serviced, managed, co-working and shared accommodation and Ms Hardy highlighted the potential for expansion. She said: “We have high speed fibre broadband, talent, our people used to working remotely but we don’t have the spaces hybrid working. The other thing about Hull and many other cities is that high streets are changing. “What’s the future of a high street in a place like Hull? People aren’t going out to shop in the way they did before. Many of the shops are starting to close, what’s going to replace them? You can only have so many cafes, that’s not the answer to everything. “My vision is to be able to walk down the high street and instead of seeing empty shops I see co-working spaces and creative areas. Instead of having empty shops you have people living and working there. It offers people the chance to be social and it’s still affordable.” Ms Hardy said the new APPG is focused on modernising employment and hiring to solve some of the UK’s most pressing labour market issues. It will work to make hiring in the UK the fastest in the world by ensuring the process is fully inclusive. It will also harness the latest technology to reduce barriers to hiring, and protect workers from fraud and discrimination. She added: “Modernising employment and hiring is essential to maximising good job opportunities for all, to make best use of the available talent in the UK, and to promote the regions of the UK as destinations for workers to work flexibly and remotely.”

Planning permission granted to transform underused Rotherham site into “fantastic” public space

Tess Egginton
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Planning permission granted to transform underused Rotherham site into “fantastic” public space
Planning permission for Rotherham Council’s public park along the River Don, Riverside Gardens, has been granted.
Plans put forward by the Council include a pedestrianised walk through from the flagship Forge Island development and a public space which will be suitable for a wide range of ages. Using a mixture of soft and hard landscaping, Riverside Gardens will be a gateway to the heart of the town centre. It will offer residents a place to socialise and relax close to new amenities such as the Arc Cinema, a 69-roomed hotel, and a range of restaurants and bars on Forge Island, which is being delivered in partnership with nationwide placemaker, Muse. It will offer residents a play area for children and a range of seating so that they can enjoy views along the river. Following on from the success of the nearby fish pass on Masbrough weir, the scheme will also support local wildlife by providing bat boxes and a tunnelled sand martin box along the river side. Cabinet Member for Social Inclusion, Cllr David Sheppard, said: “Riverside Gardens will transform an underused site to fantastic public space which will allow residents to connect with the river and nature. It will be a great addition to the green spaces in the town centre, providing nearby residents with a space where they can meet and feel the benefits of nature. I am glad to see that the riverside, home to some of our favourite wildlife, will be easily accessed and enjoyed by all members of our communities.” The scheme will be funded by the Future High Streets Fund following on from the Council’s successful bid for a total of £12.6m for numerous public realm schemes in the town centre. Riverside Gardens will complement the wider Town Centre Regeneration Masterplan to bring major investment into the heart of Rotherham’s cultural and leisure quarter, and town centre housing. Along with the Riverside Gardens scheme, other redevelopments in the Master Plan will begin soon. Other out of use buildings which overlook Riverside Gardens will also be redeveloped as part of the Culture and Leisure Quarter which supports the needs of residents. Rotherham Council’s Assistant Director of Planning, Regeneration and Transport, Simon Moss, said: “More and more people are choosing to move into the town centre, thanks to the fantastic range of housing available at the nearby Westgate Chambers, Milford Rise, Westgate Riverside and Wellgate Place. “With increasing numbers of people coming into the town centre, it makes business more viable and we are already starting to see new and independent businesses investing in Rotherham.”

How to make a personal guarantee work for your and your small business

Stuart Pearcey
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How to make a personal guarantee work for your and your small business
Being a small business owner in 2023 is a high stakes game – a truth revealed by a new survey showing that a third have put their home and life savings on the line for their business by signing a Personal Guarantee for a business loan. If their business fails, they risk losing everything.  Furthermore, 15% of those surveyed anticipate becoming a personal guarantor for a business loan within the year. The findings of the survey by Purbeck Personal Guarantee Insurance demonstrates how difficult it has become for small business owners to access funding without taking the serious step of signing a personal guarantee. The survey also found that while half of small businesses plan to secure new finance this year, about half are borrowing to ease cash flow or to pay off existing outstanding debt. Todd Davison, MD of Purbeck Personal Guarantee Insurance said: ”In today’s turbulent economy, it will come as no surprise that small business owners are seeking additional finance but it has become increasingly difficult, since the pandemic, for a small business to find funding without a personal guarantee requirement. It is vital that business owners fully understand the risks of signing a personal guarantee and importantly how to mitigate them.  This can range from sharing the risk to using personal guarantee insurance to help settle the debt, should the business fail.  So far in 2023, we have seen more SME owners apply for personal guarantee insurance to mitigate the risk of business failure, than at any time previously.” Five ways to make a personal guarantee work for your business
  1. Before signing a personal guarantee on a loan seek independent advice from an accountant, solicitor or personal broker who can advise on ways personal risk might be cut.
  2. Establish if the personal guarantee can be shared amongst co-directors so the risk is not shouldered by one person.
  3. Ask the lender if a time limit can be agreed for the guarantee or a cap on the amount, but remember, if interest rates rise, costs added to the debt can mount up.
  4. See if there is the option to guarantee part of the loan meaning that settlement of the debt is sought first from the company’s assets, before enforcing the guarantee.
  5. Consider personal guarantee insurance to mitigate the risk which means that, in the event of a business failure, 80% of the loanwill be settled by the insurance rather than the business owner’s personal assets.

Barnsley pharmacy sold

Tess Egginton
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Barnsley pharmacy sold
Specialist business property adviser, Christie & Co, has sold Stone Pharmacy in Barnsley. Stone Pharmacy is a well-established, 100-hour community pharmacy that is run under full management with a locum Pharmacist, and dispenses an average of 22,000 items per month. The business adjoins Garland House surgery in the South Yorkshire village of Darfield, which is circa six miles east of Barnsley and circa 14 miles north of Sheffield. The pharmacy has been owned by experienced operators, Khuram Akhtar and Mohammed Ali, trading as MEDS2U Ltd, for the last seven years, and was recently brought to market to allow the pair to pursue new ventures both in and out of community pharmacy. Following a confidential sales process with Christie & Co, the business has been sold to existing operator, Livesey Healthcare Ltd, which owns another pharmacy in East Lancashire. The company’s owners had previously locumed at Stone Pharmacy and recognise that, with a hands-on approach to service, they can grow patient numbers and expand the service offering. Khuram Akhtar, former owner of Stone Pharmacy, says: “The business at Stone Pharmacy has been a fantastic enterprise for many years for us. With limited competition and a position central to the local community we have always enjoyed the support of the nearby population and are pleased that it is now in the hands of experienced operators who can build on that foundation with the expansion of new services. “We wish the new owners and the pharmacy team the greatest of success. My business partner and I now look forward to concentrating on other ventures both inside and out of community pharmacy.” Mohammed Balal, director at Livesey Healthcare, says: “We are looking forward to this new challenge and to serving the community of Darfield. Stone Pharmacy offers me and my fellow directors a solid platform to grow the business further thanks to the hard work of the previous owners.” Jon Booth, director – Pharmacy at Christie & Co, who handled the sale, says: “Stone Pharmacy was sold for a premium price considering its status at the time as a 100-hours pharmacy contract. This was down to its very high volume of items underpinning the success of the contract but also, from the point of view of a new hands-on operator, it offered plenty of growth with the provision of new services. “With the recent announcement of changes to the 100-hours contract, we anticipate the market for former 100-hours contracts will gain further momentum.” Stone Pharmacy was sold for an undisclosed price.

Drax takes its place as a founder of a new BCC business council

Stuart Pearcey
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Drax takes its place as a founder of a new BCC business council
Drax is one of the founding partners of a new business council being set up by the British Chambers of Commerce to design and drive the future of the British economy. The BCC says the founding partners will be uniquely placed to shape the BCC’s policy and influencing, with the Council forming part of the organisation’s new national offer to businesses. Drax, Heathrow, IHG Hotels & Resorts and BP have joined the Council as the first founding partners. Ross McKenzie, Interim Group Director of Corporate Affairs, Drax, said: “We are proud of our long-standing and successful relationship with the British Chambers of Commerce. Joining their newly formed Business Council as a founding member is the next step in our journey with the organisation. “We look forward to working with the BCC and other leading businesses through the Council to help tackle some of the key challenges facing the UK. This includes ensuring that the country has the right policies in place to deliver its Net Zero commitments.” Shevaun Haviland, Director General, BCC, said: “Over the past few months, working closely with the Chamber Network, we have been talking to the nation’s largest corporates and it has become clear to us that they are looking for a different kind of representation. “These businesses want to be part of a framework that’s rooted in their local communities, but with the ability to shape the national and international debate. “The Council is a long-term project and will bring together leaders from across UK industry to consider the key policy issues faced by British businesses, andwork on Future of the Economy initiative, convened by our President, Baroness Martha Lane Fox. This initiative will focus on five challenges: Digital Revolution, People and Work, Net Zero, Global Britain and the High Street. “These challenges will form the backdrop to the next general election, which we know will come before the end of next year, and which everyone in Westminster is already gearing up for. The voice of business needs to be heard loud and clear, and now is the right time for us to speak up.”  
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