Council to take over running of Northallerton business centre
Day-to-day running of the 1852 Wing business centre at the multi-million pound Treadmills site, which is council-owned and currently run by C4DI Northallerton, will be transferred to the authority from April next year.
The former main cell block and female wing were transformed into a centre for digital innovation in 2020, after being derelict since the closure of Northallerton Prison more than a decade ago.
It formed part of a wider redevelopment of the site which saw all four listed buildings preserved and brought back into economic use – boosting the local economy while protecting Northallerton’s heritage.
Ten individual businesses currently occupy the C4DI Northallerton office space. C4DI and the council are liaising with tenants to ensure they face no disruption as part of the handover.
The council’s executive member for open to business is Mark Crane. He said: “C4DI has been a crucial part of the Treadmills redevelopment that has helped revitalise the local economy and foster business innovation.
“The 1852 Wing offers fantastic modern office spaces, meeting rooms and a collaborative environment for start-up and established businesses to thrive. We’re excited to build on the work of C4DI by taking on the day-to-day running of the building.
“We are proud of the fantastic relationship we enjoy with the businesses already situated in 1852 Wing and are excited to have the opportunity to further develop these, as well as inspire further investment at the site, as we move forward over the coming months.”
C4DI MD John Connolly added: “The new combined authority brings with it an increased scale of support for businesses across the region, as well as an excellent operational team to support the facility which will accelerate the growth of businesses based in and around Treadmills.
“We look forward to working with North Yorkshire Council as we continue to help businesses with events, mentoring, corporate innovation programmed and support for both start-ups and scale-ups.”
Building owner given notice to make Leeds buildings safe
The owner of an historic building on Lower Kirkgate in Leeds has been given 28 days to make it safe.
The dangerous state of the building, owned by City Fusion, has caused the road to be closed, but now the city council has been given permission to issue an urgent works notice covering that and five other historic properties on the same street which are at risk of collapse or further serious deterioration.
City Fusion has 28 days from the serving of the notice to begin a programme of structural work to make the buildings safe. If it doesn’t, the council can carry out the work before seeking to recover the cost of doing so from the owner.
The serving of the notice comes as the council explores the possibility of buying a number of the historic properties owned by City Fusion on Lower Kirkgate. Should these proposed market-value acquisitions go ahead, the council intends to bring the currently-derelict buildings back into beneficial use.
Trade associations unite to call for consultation over inheritance tax changes
Collectively, these associations represent more than 160,000 family businesses, who warn that the changes to agricultural property relief and business property relief announced in the Autumn Budget will have ‘a severe and long-lasting impact on these businesses and the livelihoods of the millions of people they employ’.
In the open letter, published by Family Business UK, leaders warned that the policy changes will ‘starve’ these businesses and the economy of much-needed investment, ‘leading to forced, premature business sales and the loss of jobs in constituencies across the country’.
They add that BPR and APR ‘are not loopholes’ but measures that exist to ‘allow profitable businesses to continue trading, without penalty, when the owner dies’.
Economic impact analysis commissioned by FBUK and produced by CBI Economics has revealed that between 2026/7 – 2029/30 the changes to BPR could reduce economic activity by £9.4bn, lead to more than 125,000 job losses – including among the SMEs the government is trying to support and protect – and result in a net fiscal loss to the Exchequer of £1.25bn.
The NFU’s own impact analysis, produced in consultation with former Treasury and Office for Budget Responsibility economists, found that 75% of commercial family farms will be above the £1m threshold.
NFU President Tom Bradshaw said the Family Business UK letter further showed just how poorly thought through the inheritance tax changes were. He said: “As a signatory of the letter, alongside 31 other trade organisations representing the industry and associated businesses, we strongly echo the sentiment that the proposed tax could have far reaching consequences for the broader economy, employment and public finances.
“No one thinks this is a good policy, not even the government’s own advisers. It’s time for Treasury to listen to farmers and the multiple other organisations calling for these proposals to be opened up for consultation.”
CEO of Family Business UK Neil Davy said: “The model of family business ownership is unique. It powers the entire economy from farming to finance and everything in between. This letter, and those who have chosen to sign it, are testament to just how widespread family ownership is, and how committed we are to speak up on behalf of our members.
“Already, family business owners are taking decisions to withhold planned investments and are putting recruitment on hold.”
According to CBI Economics, family businesses mitigating the cost of a potential future Inheritance Tax bill would be most likely to reduce investment and employment leading to an:
- average reduction in investment of 16.5%
- average reduction in headcount of 10.2%
- average loss of turnover of 7.4%.
Hull and East Yorkshire Business Board names its first chair
Ideal Heating COO Jason Speedy has been appointed as the first chair of the recently-formed Hull and East Yorkshire Business Board.
He is taking on the leading role as a figurehead of the Board supporting and advising the development of the economic priorities of the new Hull and East Yorkshire Mayoral Combined Authority.
Made up of of 22 influential business leaders from across the region, alongside the two local councils, the Board is providing input into strategic decision making, including the delivery of a £400 million investment fund secured as part of the devolution deal with the Government.
Jason joined Ideal Heating as COO in November 2019, and previously spent over 20 years with Siemens.
He said: “The Business Board was created to bring together private and public sector leaders, to help shape the region’s economic growth strategy and ensure we have a single, clear voice representing our diverse business community and advising the new Combined Mayoral Authority.
“I’m honoured to have been appointed chair of the HEY Business Board, at a hugely significant time for our region.
“Devolution represents a transformational opportunity to unlock major inward investment and growth in areas such as employment, skills and innovation.
“As a leading business and large employer rooted in Hull and East Yorkshire, we at Ideal Heating are committed to playing our full part in forging a prosperous future for the region and unlocking all of the exciting opportunities offered by devolution.”
The Business Board is one of two recently formed strategic groups providing support to the new governance structures of the Hull and East Yorkshire region, alongside a Skills Board.
The forst elecrtinos to the new authority will take place on May 1st next year.
Yorkshire Building Society converts car park to solar power station
Yorkshire Building Society is installing solar panels in the car park of its Bradford HQ to support its target of reaching Net Zero in its estate by 2035 and saving at least £100,000 every year.
It’s using space in its car park at Yorkshire Drive on Rooley Lane to install solar carports, ground-mounted canopies with slightly angled roofs that are ideal for solar panels. The shape of the carport will optimise the energy they generate while providing shelter for parked cars. The electricity generated will be used on site, helping the Society to reduce its carbon footprint.
The solar panel installations, which will complement existing rooftop solar panels installed in 2014, will help to reduce the need for electricity from the grid, which will cut down carbon emissions.
Alice Sweeting, Senior Manager, Environmental Sustainability for Yorkshire Building Society said: “In our mission to build a greener society, reduce our carbon dioxide emissions and reach Net Zero in our property estate by 2035, we’re installing solar carports in two of our car parks at Yorkshire Drive.
“As well as providing useful sheltered parking for colleagues, the carports will provide a space-efficient way to generate our own energy which will complement the renewable energy we already source through the National Grid.
“This is one of a number of retrofit activities we have undertaken, underway or planned for our estate that will support our journey towards Net Zero in our property estate.” The installation was supported by Energy Efficient Solutions Group.
South Yorkshire site chosen for low carbon homes pilot project
Kiveton near Rotherham has been chosen as the trial site to trial a new low carbon homes project partnership involving British Gas, Strata, and heat pump manufacturer, Daikin.
In anticipation of The Future Homes Standard, customers will move into new build homes fitted with a full range of the latest low-carbon technology at no extra cost to the housebuilder or owner. The homes will be equipped with a 6-8 kWh air source heat pump, 4 kWh solar panels, 5 kWh battery storage, Hive electric vehicle charger and thermostat. The first trial phase will launch at a Strata’s “Breathe” development site in Kiveton, Rotherham. As a thank you for participating in the pilot, British Gas is giving homeowners access to a fixed rate tailored British Gas tariff. Each home will be fitted with a Hive hub, which connects to the WIFI network and acts as the home’s operating system, integrating all the sustainable technology. The customers energy and heat schedules and budget will be optimised by the Hive Hub for further savings. When the customer connects to Hive’s app they will be able to control and maximise efficiency by setting schedules and spending budgets and allowing the Hub to help them reduce their bills. Catherine O’Kelly, Managing Director at British Gas Energy, said: “We are delighted to have worked with Strata to create a new homes proposition that is not only sustainable, but scalable. Through this partnership, we are empowering homeowners with the latest green technology and providing them with more control and transparency over their energy usage. “Our proposition will allow new build development sites to equip their properties with the very best low-carbon technology, meet new legislative requirements and deliver energy-efficient homes that are fit for the future. This is all part of our ambition to energise a greener, fairer future.”Two more sentenced over illegal waste site in Lincolnshire
Two men have been sentenced for allowing the operation of an illegal waste site on their land in rural Lincolnshire, and doing nothing to prevent it.
Marc Greenfield and James Baggaley are owners of the illegal waste site on Fen Lane, Long Bennington, and were sentenced at Nottingham Crown Court.
Greenfield (46) was sentenced to 19 months in prison, and Baggaley (39) was sentenced to 20 months in prison, both suspended for 18 months. They have also been ordered to remove the waste from their land by September 2025, at an estimated cost of £2.5 million.
They are the latest defendants to be sentenced in the case, bringing the total so far to 11 people, including three family members who controlled the illegal waste site.
Sentencing them, His Honour Judge Coupland found that their offending was deliberate: they both lied to residents and tried to conceal the activity, while Greenfield also lied to investigators. The judge found that the highest level of harm had been caused, with the site changing from a grassed area to a ‘smoking wasteland’ which put nearby residents at harm from toxic fumes.
The investigation, named Operation Lord, saw Environment Agency officers spend months building a picture of evidence of the illegal waste site. Intelligence revealed lorry-loads of shredded waste were regularly being accepted onto the site the size of a football pitch. Waste was burned daily and buried. This activity intensified during the first Coronavirus lockdown in March 2020, and so action was taken to bring it to a halt.
Environment Agency officers conducted a raid on the site in April 2020 with Lincolnshire Police. Two arrests were made, and they seized an excavator and a lorry which were actively depositing more waste at the site when officers arrived.
Leigh Edlin, Area Director for Lincolnshire and Northamptonshire, said: “This was a serious illegal waste site which was highly organised and involved multiple offenders. Those involved sought to profit from Covid restrictions at the cost of the environment and by inflicting misery on the local community. The site and its operators had a major impact on legitimate businesses and our regulatory work.
“Our enforcement teams will continue to tackle serious illegal waste crime by working with partners such as Lincolnshire Police, fire services and councils, as we did in this case to hold those responsible to account.”
Interest rates left unchanged
The Bank of England has held interest rates at 4.75%, in line with expectations following the further rise in inflation announced yesterday.
The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted by a majority of 6–3 to maintain Bank Rate at 4.75%. Three members preferred to reduce Bank Rate by 0.25 percentage points, to 4.5%.
Alpesh Paleja, Interim Deputy Chief Economist, CBI, said: “It was widely expected that the Monetary Policy Committee would keep rates unchanged in December. Having cut twice this year, today’s announcement was in line with the gradual pace of rate cuts that the MPC has previously endorsed.
“However, the trade-off facing the Bank of England is getting more difficult. While the worst of the inflation crisis is undoubtedly behind us, we now expect the CPI rate to stay above the Bank’s 2% target for the next two years- following announcements in October’s Budget.
“Domestic price pressures also remain stubbornly high. At the same time, business surveys – including our own – show a notable deterioration in growth and hiring expectations.
“The MPC has prioritised its price stability mandate in the recent past, which aligns with a gradual loosening in monetary policy. As a result, we expect four more rate cuts over the coming year.
“However, if growth prospects worsen more materially, dampening domestic price pressures in the process, we may be looking at a scenario where rates are cut at a faster pace.”
Yorkshire marquee company secures six-figure funding package
A Yorkshire company that supplies marquees for some of the UK’s most exclusive events has raised a six-figure funding package from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II), to add a new structure to its range.
The English Marquee Company, which is based in Ripon, has already taken delivery of its latest addition, which is capable of holding 350 people and is currently installed at a high-profile private members’ club and hotel in the Cotswolds.
The 500 sq ft structure, known as the Nord, has been made to the company’s own specification and consists of glass panels with a glulam frame – an engineered wood product that is a more sustainable alternative to steel.
The English Marquee Company provides structures for everything from a small garden party to lavish weddings and major corporate events. Customers include Newby Hall and Grantley Hall in Yorkshire, as well as high-net worth individuals and leading event planners.
The business was founded in 2018 by brother and sister Sam and Victoria (Tor) Peters who spotted a gap in the market for marquee hire. The company now employs around 30 staff.
Tor Peters, founder and Director, says: “In recent years, particularly since the pandemic, both businesses and individuals have placed greater value on bringing people together, creating connections and crafting unforgettable experiences. Our marquees provide an exceptional centrepiece or backdrop to any event.
“We pride ourselves on our stunning range, our responsive customer service and our ability to transform even the most challenging, hard to access sites. This latest funding from Mercia and NPIF allows us to add another innovative marquee to our range in line with our aim to create the most sought-after event spaces.”
Andy Clough of Mercia Debt adds: “Sam and Tor had a vision to take marquee hire to a new level and create the most spectacular events spaces. The business has been growing exponentially and is now the go-to supplier for elite event planners and private clients. Mercia and NPIF have provided several rounds of funding to help them build their product range and are pleased to have played a part in their success.”
Henry Boot to take full ownership of premium regional housebuilder
Sheffield property business Henry Boot is to take full ownership of premium regional housebuilder Stonebridge, having exchanged contracts to acquire the 50% share it does not own from its JV partner.
The transaction is structured to complete in three tranches over the next five years, with anticipated fixed payments totalling £30m and additional payments linked to Stonebridge’s performance.
Tim Roberts, Chief Executive Officer, Henry Boot, said: “This transaction represents an important strategic milestone for Henry Boot, allowing us to acquire full ownership of a high growth builder of premium residential homes that we already know well through our existing 50% share in the business.
“The acquisition of Stonebridge also further cements our position in the U.K. house-building sector, a market which currently benefits from a number of supportive structural and political tailwinds, while at the same time simplifies Henry Boot’s structure.
“The consideration is performance linked, and the phased structure is designed to generate strong returns whilst maintaining gearing within our optimum range of 10-20%. All of this gives us confidence that this transaction will help drive enhanced shareholder value over the medium term and will be a significant part of our plans for growth.”
Stonebridge is a high growth U.K. multi regional housebuilder which is currently focussed on delivering premium homes in Yorkshire and the North-East. The business has grown significantly since it was founded in 2010, increasing output by an average 25% p.a. over the past ten years.
In addition, in the five years ending 31 December 2023, both revenue and operating profit more than doubled, reaching £94.4m and £5.9m, respectively. In 2023 Stonebridge completed 251 homes and has a medium term target of delivering up to 600 new homes annually.
Rotherham firm secures grant to plant 150,000 trees
Rotherham-based Harworth Group has secured an England Woodland Creation Offer grant to plant 150,000 trees on its 230-acre Highthorn site in Morpeth, Northumberland.
The new woodland will feature over 150,000 trees, comprising predominantly native broadleaf species with some complementary conifer and scrub. The initiative will also provide significant benefits to the local community, including the creation of a new network of permissive footpaths to enhance public access. Alex Standerwick, the Group’s Natural Capital Manager, said: “The woodland plantation at Highthorn demonstrates our commitment to stewarding the land in our portfolio and delivering on our Net Zero Carbon Pathway to mitigate emissions created through our wider regeneration activities. By leveraging our legacy land portfolio, we are not only creating habitats that enhance biodiversity but also ensuring that the carbon credits we generate are authentic and deliver long-term social and environmental value. This project, alongside our ongoing efforts at Chevington North, is a clear example of how Harworth is embedding sustainability into everything we do.” The Highthorn scheme forms part of Harworth’s Net Zero Carbon Pathway and ambition to achieve NZC status by 2030 through supporting the Group’s carbon sequestration initiatives. Harworth anticipates that this woodland plantation could create up to 25,000 Pending Issuance Units, and Harworth will ensure the authenticity of the carbon credits generated. Earlier this year, Harworth’s first woodland plantation, at Chevington North, also in Morpeth, Northumberland, where over 110,000 trees were planted, opened to the public. Harworth is currently working with the Soil Association to validate the carbon credits generated by the Chevington North woodland. The addition of the Highthorn woodland will bring the total number of trees planted by Harworth in Northumberland to over 260,000.“
New charter to give greater rights to seafarers
Moves to give greater protection to those working at sea could be implemented thanks to new legal requirements that the government has now proposed.
Gemma Griffin, Vice President and Head of Global Crewing at DFDS, said: “We are pleased to see the measures being taken by the UK government to further protect seafarers’ rights and restore a level playing field for all operators.”
Part of the government’s landmark Employment Rights Bill, the new amendments have been tabled to pave the way for a legally binding Seafarers’ Charter.
The charter will allow ministers to set higher standards for seafarers’ rights and further protect wages beyond UK waters for seafarers on services regularly calling at UK ports.
Thanks to the amendments tabled, strengthened protections for seafarers include:
- setting maximum periods of work at sea and minimum periods of rest
- robust requirements to manage seafarer fatigue
- reinforced training requirements for operators, such as familiarisation with the vessel, to support safety and skills
More than 370,000 were underpaid, says Low Pay Commission
About 370,000 workers were underpaid during last year, according to the Low Pay Commission in a report just out – a slight increase on the previous year but below estimated pre-pandemic numbers.
It also comes in the context of overall minimum wage coverage jumping substantially between 2023 and 2024. This means that numbers underpaid as a share of coverage – a measure used to think about the relative probability of low-paid workers being underpaid – fell in the latest data.
Baroness Philippa Stroud, LPC Chair, said: “Too often the low-paid workers we speak with feel powerless and cut adrift from the institutions which exist to protect them. This can cause low-paid workers to put up with poor employment conditions and underpayment for fear of repercussions.
“The all-too-common experience of insecurity and uncertainty over their rights can discourage workers from reporting underpayment or trying to find better jobs. A strategy to end underpayment will begin with restoring low-paid workers’ confidence.
“The Government’s ambitions for the minimum wage should be backed by a similar level of ambition for enforcement. The Fair Work Agency is a unique opportunity to reform labour rights enforcement; and the Employment Rights Bill picks up several relevant recommendations previously made by the LPC. Our report restates the scale of this problem and suggests some fundamental ways the new agency could build confidence in the enforcement system.”
The report looks at the scale and nature of underpayment; its persistence for workers; and the performance of the enforcement regime. Evidence from the last decade suggests that for many underpaid workers, underpayment lasts a long time, and one in three remain stuck in underpaid jobs from one year to the next. In recent years, the tight labour market has enabled more underpaid workers to move into jobs where they get the correct wage. This has slowed in the most recent data as the tight labour market which followed the pandemic has started to unwind.
The LPC make several recommendations to Government on the enforcement system, from ensuring the right information is available for workers and employers to building its data and intelligence on the kinds of non-compliance which exist.
Recently formed Hull and East Yorkshire Business Board appoints first chair
Jason Speedy, the Chief Operations Officer of Ideal Heating, has been appointed as the first chair of the recently formed Hull and East Yorkshire Business Board.
He is taking on the leading role, in which he will act as a figurehead of the Board, which is supporting and advising the development of the economic priorities of the new Hull and East Yorkshire Mayoral Combined Authority (MCA).
Composed of 22 influential business leaders from across the region, alongside the two local councils, the Board is providing input into strategic decision making, including the delivery of a £400 million investment fund secured as part of the devolution deal with the Government.
Jason joined Ideal Heating as COO in November 2019, and previously spent over 20 years with Siemens.
He said: “The Business Board was created to bring together private and public sector leaders, to help shape the region’s economic growth strategy and ensure we have a single, clear voice representing our diverse business community and advising the new Combined Mayoral Authority.
“I’m honoured to have been appointed chair of the HEY Business Board, at a hugely significant time for our region.
“Devolution represents a transformational opportunity to unlock major inward investment and growth in areas such as employment, skills and innovation.
“As a leading business and large employer rooted in Hull and East Yorkshire, we at Ideal Heating are committed to playing our full part in forging a prosperous future for the region and unlocking all of the exciting opportunities offered by devolution.”
The Business Board is one of two recently formed strategic groups providing support to the new governance structures of the Hull and East Yorkshire region, alongside a Skills Board.
The relevant order was laid in Parliament last month to officially create the Hull and East Yorkshire MCA, and it will lead to a mayoral election, with voters going to the polls for the first time on Thursday 1 May 2025.
Mayoral elections will then take place every four years.
The MCA does not replace either Hull City Council or East Riding of Yorkshire Council, which will both continue their work as separate councils as normal.
2025 Business Predictions: Gareth Singleton, regional managing partner at BDO in Yorkshire & the Humber
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Gareth Singleton, regional managing partner at BDO in Yorkshire & the Humber.
Much like Leeds United Football Club, the number of uncertainties faced during the second half of 2024 have reduced, providing a more stable platform as we enter 2025. The outcome of the UK and US elections, and the recent Autumn Budget, are now known and, regardless of whether businesses are happy or not with the results, they can plan ahead with increased certainty. While there does remain uncertainty around US trade tariffs, recent reports suggest the impact on UK exports could be significantly less than others.
While Leeds United has found some form and is ending the year in confident mood, we expect the regional business community will need a little longer to gain confidence during 2025. The expected reduction in interest rates throughout 2025, coupled with the easing of uncertainties referred to above, should lead to an increase in confidence and a commitment to invest in strategic growth plans moving forward. This will undoubtedly help regional sectors, such as manufacturing. While 2025 is likely to bring with it continued growth in the region, we do expect businesses to end the year with a more confident outlook than how they started, leading to a more meaningful growth agenda in 2026.
The productivity puzzle remains a real challenge for most sectors in the region and across the UK. In Yorkshire, the professional services sector, including financial services, is a significant part of the local economy. We expect 2025 to be the start of a revolution for this sector, in terms of AI and technology, driving genuine productivity gains which should benefit the region more than most, given the makeup of the businesses in the local economy.
Wakefield Council to launch commission considering skills and educational needs of the district
Wakefield Council is set to launch a commission to consider the skills and educational needs of the district.
Created in partnership with the West Yorkshire Mayor, the commission will be carrying out a study to identify ways of ensuring people have the right skills to get them into the kind of employment that will transform the economy of West Yorkshire.
Chaired by Professor Sir Chris Husbands, former Vice-Chancellor at Sheffield Hallam University, the Wakefield Futures Commission will meet for the first time next week.
Professor Sir Chris Husbands said: “Wakefield has a fantastic geographical location and great transport connections. It has amazing people, a proud history and lots of great assets. But higher-level skills provision isn’t in place – and economic growth depends on people.
“If we can design and implement the right route to higher skills and create a more highly skilled population, then it’s a win for individuals, it’s a win for the economy and it’s a win for the Wakefield district.
“This study will look at what Wakefield Council can do, what the West Yorkshire Combined Authority can do, along with what current skills providers and colleges can do. As well as what national government can do to be better placed to meet the challenges of the future.
“By looking at the place-based challenges and bringing together highly thoughtful people to find solutions, we expect this study to be of interest to the Government.
“This is a serious attempt to make a real difference to the economy and draw on local experience to drive national policy change.”
The commission brings together industry experts, from education and economic policy. Between now and June 2025, it will review and carry out research to determine how the district can support more local people to access high skilled jobs and create and attract high-level skilled workers to the area. These are both essential for sustained economic growth.
The place-based study will help to create a framework for a seamless skills system. Once complete, the work will help shape Government policy at a national level.
Cllr Denise Jeffery, Leader of Wakefield Council, said: “We want the very best for our residents. Making sure we can offer opportunities to gain the skills needed for higher paid jobs, as well as bringing investment into our district, remains a top priority.
“We want residents to have access to great higher education options on their doorstep. That’s very important for us to help retain the amazing talent we have here in the district.
“The Commission will help us to make our city even more competitive as a place to learn and do business.”
Tracy Brabin, Mayor of West Yorkshire, said: “Wakefield is a brilliant district with a bright future – from major investments in housing and regeneration, to the expansion of world-renowned cultural assets like Production Park.
“Yet for too many in Wakefield, a lack of higher education is holding them back from flourishing, with lower than average degree-level attainment compared to the rest of West Yorkshire.
“The findings of this commission will form the building blocks for a stronger, brighter region, where everyone can get the skills they need to succeed and put more money in their pockets.”
Wakefield is England’s largest city without a university. It faces significant challenges in developing and retaining higher-level skills among its residents.
With a population of more than 300,000 Wakefield is below the national and regional average for residents with higher level qualifications, above A-level.
According to the latest data from the Office for National Statistics, only 28.8% of Wakefield’s population aged 16-64 holds qualifications at Level 4 or above. This figure is substantially below the national average of 46.7% and the Yorkshire and Humber regional average of 41.2%.
Wakefield Council and the West Yorkshire Combined Authority are committed to addressing this. Earlier this year Wakefield was awarded UNESCO Learning City status and joined the Global Network of Learning Cities (UNESCO GNLC).
Membership to the network shows the Council’s commitment to ensuring a learning system which improves opportunities and provides access to employment, along with education and training, is available to all.
Understanding and responding to Wakefield’s higher-level skills and education challenges is a priority for the West Yorkshire Mayor Tracy Brabin, who has pledged to build a “region of learning and creativity” where everyone can get the skills they need to succeed.
At a meeting of the West Yorkshire Combined Authority on 12 December, Mayor Brabin unveiled a ten-year, £7 billion Local Growth Plan, which was approved by Cllr Jeffery and other regional leaders.
It aims to halve the number of people in the region with low or no qualifications through a universal skills system, with clear pathways for people of all ages to access the high-quality education and careers of their choice.
The findings of the Wakefield Futures Commission will inform this system, helping ensure that everyone across the region can upskill and retrain throughout their lives, so they can follow their passions, boost their household incomes, support local businesses, and contribute to a growing economy.
The first meeting of the Wakefield Futures Commission is set to take place next week.
Output volumes fall in final quarter of 2024 as growth expectations weaken further
Manufacturing output volumes fell at the fastest pace since mid-2020 in the quarter to December, according to the CBI’s latest Industrial Trends Survey (ITS). Manufacturers expect another steep drop in output over the next three months.
Total and export order books deteriorated sharply relative to last month, with the volume of total orders falling to its weakest since late 2020. Against a backdrop of weak demand, manufacturers’ stocks of finished goods remain relatively high, at levels last seen during the early stages of the Covid pandemic.
Meanwhile, expectations for selling price inflation picked up noticeably in December, with the rate of selling price inflation during the next three months expected to be comfortably above the long-run average.
The survey, based on the responses of 331 manufacturers, found:
- Output volumes fell in the three months to December (weighted balance of -25%, from -12% in the quarter to November), the steepest decline since August 2020. Manufacturers expect output to fall again in the quarter to March 2025 (-31%), with expectations weaker than at any time since May 2020.
- Output decreased in 15 out of 17 sub-sectors in the three months to December, with the significant fall driven by the furniture & upholstery, glass & ceramics and motor vehicles & transport equipment sub-sectors.
- Total order books were reported as below “normal” and deteriorated markedly relative to November (-40% from -19%). The level of order books in December was the weakest since November 2020 (and far below the long run average of -13%).
- Export order books were also below “normal” in December (-37% from -27% last month). This was also below the long-run average (-18%).
- Expectations for average selling price inflation picked up in the quarter to December (+23% from +11% in November), with the balance of manufacturers expecting prices in the quarter ahead to rise above the long-run average (+7%).
- Stocks of finished goods were reported as more than “adequate” in December and to a similar extent as in November (+20% from +21%), which was the highest reading since August 2020. Stock adequacy stands well above the long-run average (+12%).
Rotherham expansion for industrial specialists
Two growing businesses have expanded into a Rotherham industrial estate.
Specialist hire company RVT Group, which offers tailored solutions for dust control, fume extraction, ventilation, noise barriers, water treatment, environmental monitoring and climate control, has enlarged its depot facilities after taking 35,000 sq ft of industrial space at Vector 31 in Waleswood.
The company, started in 1993, had outgrown its existing unit in Chesterfield, while existing tenant Preformed Windings, which manufacture high-voltage diamond coils for high-voltage motors and generators, has relocated into a 10,000 sq ft unit at the industrial scheme.
Agents Knight Frank secured the unit for RVT, which has sites across the UK including two offices in Dartford plus branches in Northampton, Chester and Scotland, and also negotiated the move for Preformed Windings, which has more than 50 years of experience of partnering major OEMs and rewind shops worldwide.
Harry Orwin-Allen, surveyor in the Knight Frank Sheffield office, said: “Vector 31 is a prime South Yorkshire location and offers occupiers high grade industrial and warehouse units built to modern specification. Both companies needed extra capacity in high quality accommodation, and Vector 31 fitted the bill.”
Marketing agency races to Joseph’s Well
CreativeRace has relocated to Joseph’s Well, the historic office complex.
The integrated marketing agency is taking up 5,209 sq ft of workspace in a tailored ground floor space steeped in history, once home to iconic music venue, The Well.
Joseph’s Well, managed by J Pullan & Sons Ltd, was originally a 19th Century mill.
Gordon Bethell of CreativeRace said: “As our current lease came to renewal, we took the opportunity to reflect on our future requirements and focused on a workspace that inspired creativity and content creation whilst serving our functional needs.
“Taking such an iconic space as The Well where legendary performances from the likes of The Killers, Kaiser Chiefs and Keane all appeared felt like a celebration of independence.
“A key draw to the space was the bespoke design and fit out service from Pullans’, whose team blended original historical features, re-purposing the original dance floor as a dedicated photography studio and throughout the whole re-fit kept an industrial chic look and feel.”
Bruce Strachan, Property Director at Pullans, added: “We are delighted to welcome CreativeRace to our landmark building and have worked closely with them to design a dynamic, creative environment that meets their current and future needs.
“It’s a great example of how we continue to adapt and evolve our spaces to support modern businesses, whilst taking a sustainable approach and recycling and repurposing materials.
“The demand for unique fit-for-purpose office space in Leeds remains robust, and our investment in Joseph’s Well reflects both the growing confidence in the local economy and the evolution of workspaces as businesses are favouring a return to the office.”
Carter Towler and WSB are joint agent marketing agents for Joseph’s Well. Carter Towler also acted for CreativeRace in this letting.
2025 Business Predictions: Michael Porter, Senior Director, CBRE’s National Valuation & Advisory Services team in Leeds
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Michael Porter, Senior Director in CBRE’s National Valuation & Advisory Services team in Leeds.
2024 had its fair share of ups and downs, but from an economic point of view it turned out to be better than expected. Inflation fell sharply in Q1 and was near, or at target, for much of the rest of the year, and consequently the Bank of England started its interest rate cutting cycle.
Overall, the economy grew by around 1%. We now appear to be firmly on the road to recovery, and we forecast the growth trajectory to continue in 2025, boosted by further interest rate cuts.
Looking through a commercial real estate lens, it is becoming increasingly evident that the market reached a trough in 2024. Our Monthly Index is showing embryonic signs of a turning point, which we expect to continue and gather more strength in 2025.
As we leave a year where investment volumes remained at historically low levels, a rise in values, alongside lower interest rates and lower costs of debt, will stimulate a pick-up in investment in 2025 of around 15%.
