Accsys, the supplier of sustainable wood building materials, has announced that it will discontinue the Tricoya plant in Hull owned by Tricoya UK Limited, a wholly owned entity of Accsys set up for the construction and operation of the Tricoya plant.
The Accsys Board is said to have thoroughly evaluated all available strategic and funding options for Tricoya UK. With a review now completed, the Board has decided that it is in the best interests of Accsys and its shareholders to discontinue the Tricoya plant.
A final exceptional non-cash impairment charge of €20m and an exceptional cash cost of €4.5m will be recognised in the company’s H1 FY25 results for the discontinuation and winding up of the Tricoya plant.
Accsys retains the intellectual property for Tricoya and will continue producing materials for the Tricoya product range from its production site in Arnhem to meet growing demand from existing customers.
Dr Jelena Arsic van Os, CEO Accsys Technologies PLC, said: “Whilst this is a difficult decision, the Board is confident that this is the right course of action for the company and its shareholders.
“Discontinuing the Hull plant further derisks and simplifies our business and enables us to fully focus on maximising returns from our existing assets. Today’s actions, alongside our expansion in Arnhem and newly opened Kingsport facility, underpin our confidence in delivering profitable growth as we progress towards our target of 100,000m³ production by the end of FY27.”
Transformation of East Riding Leisure Goole into dynamic leisure and community venue takes next steps
The next step of the redevelopment of the Goole Hub, the project to transform East Riding Leisure Goole into a dynamic leisure and community venue, is set to proceed. East Riding of Yorkshire’s Cabinet gave approval for the construction contract to be concluded.
Builders Willmott Dixon has been selected as the preferred contractor, with preparatory works set to start in October. The Hub is due to be completed by the summer of 2026, opening in Goole’s Bicentenary year.
The Goole Hub, funded by East Riding of Yorkshire Council, will provide new and enhanced leisure facilities, collocate services, and introduce new activities, such as bowling that will enhance engagement and the offer in Goole. A sum of £3.372 million is being contributed by the £25 million Goole Town Deal regeneration programme.
While the facility is closed, the council will continue to offer gym facilities, group exercise classes, and health programmes, at the Goole College site on Boothferry Road.
Councillor Nick Coultish, Cabinet Member for Culture, Leisure, and Tourism, said: “I’m excited to announce the awarding of the contract to build a brilliant new leisure facility for Goole and our surrounding communities. This project reflects the East Riding of Yorkshire Council’s commitment to invest in Goole and to fostering a vibrant, active, and healthy community. I look forward to seeing the renewed Goole Hub, and all the fantastic facilities it will provide.”
Phil Jones, Chair of the Goole Town Deal Board, said: “The Goole Town Deal Board has allocated a share of the town’s £25 million in Town Deal funding towards the development of East Riding Leisure Goole because we see it as an important anchor destination within the town centre that, alongside the seven other strategic projects that we’ve chosen to fund, will help to increase footfall and boost the local economy.
“This exciting project will transform the venue into a truly modern community hub with a vastly enhanced leisure offer for local people of all ages. We’re delighted to see it progressing.”
Park Hill’s newest homes given the go-ahead in Sheffield
Urban Splash and Places for People, the joint development partners restoring Park Hill in Sheffield, have secured planning approval for more new homes at the building.
The pair has redeveloped the building over the past decade establishing a new cultural quarter for the city with 455 new homes, accommodation for 356 students, more than 50,000 sq ft of workspace, and extensive landscaping and green space.
A fourth phase comprising 125 apartments – 20% of which will be affordable – new public realm, EV charging, a car club and bike storage was awarded planning in late 2023.
Approved plans for the newest phase – phase 5 – include 105 new homes. Among the homes will be one-, two-, three- and four-bedroomed flats, duplexes and townhouses – some of them affordable, while the ground floor will include 2,000 sq ft of commercial space providing a platform for independent, local businesses, and adding to the already diverse Park Hill ecosystem – home to native brands such as South Street Kitchen, The Pearl, and the Grace Owen Nursery.
Mark Latham, Regeneration Director at Urban Splash, said: “Park Hill has been a long-term vision and investment, a building which we have approved in different phases to ensure that we are creating a space that serves the needs of the city – be that homes, workspaces for independent businesses, or green spaces.
“I am thrilled that we have secured permission to move forward with another stage – with plans that will further contribute to Sheffield’s cultural and economic vitality.”
Sammie Steele, Managing Director of Placemaking and Regeneration at Places for People, added: “We are delighted to have secured permission for the next phase of Park Hill, continuing our great partnership with Urban Splash.
“Park Hill is an iconic area of Sheffield both culturally and architecturally and we are proud to continue supporting this thriving community and uplift its long and fascinating history. This phase will allow us to not only pave the way for new homes in Sheffield but also to create new commercial spaces where we hope to see an array of local businesses set up and thrive.”
Holtec confirms decision to bring £1.5bn investment to South Yorkshire
South Yorkshire is set to become the new home of US nuclear energy company Holtec, which will build a factory to build Small Modular Reactors, the latest step in delivering nuclear energy.
Holtec’s decision comes after Rolls-Royce SMR also chose South Yorkshire to become the home of its new multi-million pound facility earlier this year. Rolls-Royce SMR will manufacture and test prototype modules for SMRs in South Yorkshire further strengthening the region’s clean tech cluster.
Gareth Thomas, Director at Holtec Britain, said: “South Yorkshire overcame stiff competition from other areas of the UK to be our preferred location for our advanced SMR factory.
“Holtec Britain was impressed by the resounding interest in our new SMR factory across the UK and the strong support received by the local authorities during our engagements. However, after a rigorous process, South Yorkshire was finally selected as our preferred location.
“In addition to the technical, supply chain, training, and logistics criteria for the formal evaluation, we were also impressed by the history and pride of the people we met during our visit to South Yorkshire, which demonstrated the workforce really cares about the quality and reputation of their work. For Holtec, that translates to a workforce that can be trained and will remain committed to delivering the high-quality nuclear products that Holtec, and our customers, demand.
“Holtec has been part of the nuclear ecosystem in this country for many years and is absolutely committed to creating high-quality local jobs, supply chain opportunities and partnerships that will help South Yorkshire and the UK grow and prosper. Our new UK factory is central to that commitment. Holtec is working to finalise its factory business plan to support its Final Investment Decision, based on its UK and international order book.
“Holtec’s SMR-300 is a PWR reactor enabling the factory to also produce large naval reactor components to not only support the country’s energy security, but also its national security”
South Yorkshire is already home to the UK’s largest clean-tech cluster and has unique strengths in SMRs, Hydrogen and Sustainable Aviation. Holtec’s decision to build its new major SMR facility in the region has cemented South Yorkshire’s place as the natural home for emerging clean energy sectors.
The selection process involved 13 potential locations which were shortlisted down to four, from which South Yorkshire was chosen. The finished plant will serve the UK, Europe and the Middle East. The factory represents a major £1.5bn investment and is set to create hundreds of well-paid and highly-skilled jobs.
Oliver Coppard, South Yorkshire’s Mayor, said: “In South Yorkshire, we’re building on hundreds of years of innovation and engineering heritage to create world leading facilities, skills and expertise today; assets that will power the clean energy transition in the UK and beyond. We are right at the cutting edge of the new nuclear, hydrogen and sustainable aviation sectors, and proud to be home to the largest clean tech sector in the UK.
“That’s why Holtec have chosen South Yorkshire as the home of their £1.5bn manufacturing facility, because they recognise we are the new home of the emerging clean energy sector in this country. Their decision to invest in South Yorkshire has the potential to support hundreds of high-paying jobs, while their SMR Learning Academy will help train the next generation of nuclear engineers and experts.”
Accountancy practice taken over by Manchester firm
An accountancy practice with offices in Doncaster and Sheffield has rebranded following an acquisition by Xeinadin.
Chesterfield-based Smith Craven, employing more than 50 there and in Doncaster, Sheffield, and Worksop, will join Xeinadin under its Manchester Central and North region, led by KJG Xeinadin Group.
Xeinadin is a firm of business advisory and accountancy practices in more than 100 locations across the UK and Ireland that provides over 40 service lines to over 50,000 clients, predominantly SMEs and their owner-managers. It was formed through a merger of the offices in 2019 and is now structured into 14 regional hubs, following dozens of new business acquisitions each year.
With the power of a Top 20 accountancy firm behind them, they are able to enhance their client experience through collaboration across other Xeinadin offices and the phased approach to rebrand.
Martyn Langley : “We are looking forward, and proud, to be moving to the next stage in the firm’s development, and to helping local businesses get the most out of the opportunities available to them.
“Chesterfield is a great location geographically, and has a thriving business community. With the number of businesses, and help from the local professionals in the area (who work well together as a team), and the many transport links – the region is well-placed for exciting times ahead.
Hull City and East Riding of Yorkshire Council leaders welcome devolution deal sign off
Cllr Mike Ross and Cllr Anne Handley, leaders of Hull City Council and East Riding of Yorkshire Council, have welcomed the news that creation of Hull and East Yorkshire’s Mayoral Combined Authority has been signed off by the government.
The agreement means that Hull and East Yorkshire’s devolution deal will progress through the next steps towards a mayoral election in May 2025.
The deal will give local leaders the power to make decisions in areas such as transport, adult education, and housing, boosting economic growth and opportunity.
The announcement was made by Jim McMahon, Minister of State for Local Government and English Devolution, who, in his letter confirming agreement to the deal, recognised the work that is being done to grow relationships between Hull and the East Riding and Greater Lincolnshire, which has also had its devolution deal accepted.
Cllr Ross said: “After years of being left out in the cold on devolution, the people of Hull and East Riding can now get the fair deal they deserve.
“This is a big step forward in unlocking huge investment into the city, achieved by the two local councils working together.
“This devolution deal was backed by residents and businesses right across our communities. I look forward to seeing it becoming a reality, including the mayoral election next May.”
Cllr Handley added: “We’re delighted that the Hull and East Yorkshire devolution deal has been approved.
“This will be a fantastic opportunity to unlock investment for the region and improve strategic collaboration between Hull and East Yorkshire council areas.
“The mayoralty will provide a strong voice for the East Yorkshire region and support communities and local businesses.”
Thomas Martin, chairman of the Hull and East Riding Business Engagement Board, said: “Finally, the breakthrough that we in this region have been working towards for more than seven years.
“The politics and the economics have come together at last to create an exciting future for our region.
“I commend both local authority leaders for their courage and determination to make this happen, and I believe that investors will see our region fully open for business.
“This is another significant step on our journey towards economic regeneration, and I look forward to further progress on multiple fronts.”
MPs open new facility at CATCH on the south bank
MPs Melanie Onn and Martin Vickers have opened the new facility at CATCH’s Skills and Apprenticeships Centre.
Backed by £1.5m from sponsors in the region, the facility is said to represent a significant milestone in CATCH’s commitment to fostering the green skills needed for the energy transition whilst helping to deliver economic growth locally in the Humber, Lincolnshire and Yorkshire regions.
Melanie Onn said: “Investment in green initiatives like this is vital as we work to grow North East Lincolnshire’s economy. It’s great to see so many businesses putting funding into our area, and I look forward to seeing how things progress as the Humber Skills Plan unfolds.
“This new facility is really exciting in particular. It will provide so many new opportunities for young people across the region, helping to get more of them into STEM careers.”
Sponsors in the region included Viking CCS members Phillips 66 Limited, Harbour Energy, Drax and ABP together with Air Products, Uniper, the ECITB and Humber Freeport.
CATCH is poised to play a pivotal role in steering more young individuals towards STEM careers, as part of the broader Humber Skills Plan to increase training output by tenfold by 2029. This latest funding initiative has had a substantial impact on its facility:
- More than doubling the entry capacity, CATCH will increase its intake from 100 to approximately 220 apprentices.
- Tripling the welding and grinding bay capacity to 80 bays, which have been identified as critical skill gaps needed to power the UK’s energy transition.
- The facility has already welcomed a new cohort of apprentices this September 2024.
Leeds City Council sets out scale of financial challenges
Leeds City Council has published an update on its five-year medium term financial strategy, outlining the severe difficulties it faces to deliver balanced budgets in the face of the continued need to make significant savings.
The report, discussed at the council’s executive board meeting, explains how the council needs to find £273.7million in further savings over the next five financial years.
Leeds and all councils across the country are facing extreme financial challenges as a result of significantly increased costs to provide services and rising demand, especially for vulnerable young people and adults.
This is being seen in supporting looked after children, especially the most vulnerable with high levels of need requiring costly external placements, as well as for adult social care with increases in demand for older people, adults with learning difficulties and those needing support with mental health.
The need to find further significant savings in the coming years follows on from the council having had to deliver savings totalling £794.1million from 2010 to the end of the current 2024/25 financial year.
Commenting on the report and the ongoing position facing local authorities, Leeds City Council Deputy Leader and executive member for resources Councillor Debra Coupar said: “It is not an overstatement to say that this is the most challenging financial period so far facing local authorities, following on from more than a decade of needing to make major savings year on year.
“Over the last four years alone six councils have issued section 114 notices, in effect declaring that they cannot achieve a balanced budget, and a survey from the Local Government Association at the end of last year indicated that as many as one in five thought it was likely or very likely that they would have to do the same before the end of the next financial year.
“Following fifteen years of sustained reductions in local government funding, we are now reaching a stage where councils simply cannot continue to balance their budgets in the face of escalating demand for some of the most costly services for our most vulnerable adults and children.
“In Leeds the reductions equate to a real-terms decrease in funding of £465.9m or 70 per cent over those fifteen years. Whilst we’ve made significant savings already of £730.2million, including reducing the council’s workforce by nearly a fifth, we need to find a further £63.9million of savings this year and then in addition to that over £273million more across the next five years. It is an incredibly difficult situation.”
The medium term financial strategy outlines further savings totalling £273.7million needed across the next five financial years. The pressures of £63.9m for this year alone equate to 10% of the council’s annual net revenue budget.
The annual breakdown for those five following years is: £106.7m in 2025/26, £45.7m in 2026/27, £42.1m in 2027/28, £37.3m in 2028/29 and £41.9m in 2029/30.
All council assets and services are being continuously assessed and reviewed to see how they can help mitigate the financial position. The council will also continue its current freeze on recruitment, as well as on non-essential spending except where necessary for health and safety or statutory reasons.
Council tax in Leeds remains the second-lowest of the eight core cities in England, with an increase of 4.98 per cent (including 1.99 per cent dedicated to adult social care) in this financial year.
Whilst funding from council tax and business rates in recent years has increased, these have been outweighed by reductions in funding from the government grant alongside increases in pay, service delivery prices, the impact of the cost of living and demand pressures.
Siemens launches internship for students with learning disabilities
Working with Selby College, Siemens Mobility has launched an internship scheme at its Goole Rail Village to provide supported work opportunities for young people between the ages of 18 – 24 with learning disabilities.
They’ll gain valuable work experience alongside education, and six candidates have started at Siemens Mobility’s Goole Rail Village, where they will rotate through work placements alongside their college courses.
CEO of Siemens Mobility, Sambit Banerjee, said: “We are thrilled to announce the launch of the DFN project SEARCH supported internship scheme, which builds upon our commitment to fostering a culture of inclusivity at Siemens Mobility.
“Our goal is to equip participants with essential skills and confidence needed to thrive in the workforce. We understand the challenges these individuals face in accessing employment opportunities, which is why we are committed to providing equal opportunities and support, enabling everyone to feel like they belong at Siemens Mobility.”
“We are excited to welcome the six successful candidates to the Siemens Mobility Goole Rail Village and look forward to witnessing the positive impact this program will have on their lives.”
The supported internship scheme is tailored to equip participants with the essential skills and confidence needed to thrive in the workforce. Working with a job coach and a tutor, the individuals will have access to specialised training and hands-on practical experience across various areas of the Rail Village. Placements will rotate through the Components Facility which services rail gearboxes and motors, the warehouse, office and administration, and security and facilities maintenance.
Kirsty Matthews, Chief Executive of DFN Project SEARCH, said: “Each new group of talented individuals brings with them a unique set of skills and perspectives, which not only enriches their own lives but also the workplaces they join. At DFN Project SEARCH, opportunity and inclusion is at the heart of all our work. I am confident that these interns will leave a lasting positive impact on their organisations and community while gaining the essential skills to build brighter futures for themselves.”
Siemens Mobility is currently investing up to £200 million in a rail village in Goole, creating up to 700 skilled jobs, as well as a further 1,700 supply chain roles. This includes 11 apprentices at Goole, with 25 more arriving this month.
Finance Yorkshire appoints new board chair
Finance Yorkshire has appointed Nigel Ward as its new chair.
Ward succeeds James Newman OBE who has been chair of Finance Yorkshire since its creation in 2009. Ward joined Finance Yorkshire as a non-executive director in 2021. He was a partner at PWC and spent more than 30 years advising companies across a range of industry sectors.
Ward will oversee investment from Finance Yorkshire’s new fund which is expected to provide more than £50m to SMEs across Yorkshire and Humber over five years. This fund was created using the legacy from Finance Yorkshire’s previous investment support to regional businesses through its Jeremie Fund.
Newman was the founding chair of both the Sheffield City Region and Hull and East Riding LEPs and has held many other prestigious and influential roles nationally and in Yorkshire in the business, academic and charity sectors. He was Master Cutler in 2009 and was awarded an OBE for services to business, the economy and charity in Yorkshire in 2017.
During his time as chair of Finance Yorkshire, Newman oversaw the successful delivery of its original Jeremie Fund and an Extension Fund which saw £113 million invested in over 500 companies in Yorkshire and Humber.
The investments created and safeguarded more than 16,000 jobs, enabling businesses to increase their turnover by a total of £474m and attract a further £374m from private sector sources. Utilising the legacy from this fund, Newman negotiated the development of the new evergreen fund which will allow Finance Yorkshire to continue to invest in the region for many years to come.
Newman said: “I have very much enjoyed my time as Finance Yorkshire chair, overseeing the growth of the brand and delivery of investments which have made a real difference to individual businesses and the wider economic health of the Yorkshire and Humber region.
“It has been a privilege to lead such a committed board and I look forward to witnessing Finance Yorkshire’s continued success with Nigel at the helm.”
Ward said: “I am very pleased to be taking on the role of Finance Yorkshire chair. Finance Yorkshire has a formidable reputation for supporting the region’s SME community led by the board who will continue to steer the organisation as we deliver further investments for the benefit of businesses.”
Alex McWhirter, Chief Executive of Finance Yorkshire, said: “James has led the company since it was established in 2009 and has been pivotal in the successful delivery of our previous investment funds and its key objectives to deliver jobs and business growth across Yorkshire and Humber. His chairmanship has not only delivered a legacy we are proud of but the returns on our investments which are enabling us to continue to support SMEs.”
McWhirter added: “Since joining the board, Nigel has provided strong direction for Finance Yorkshire’s investment activities. I look forward to working with Nigel to ensure that Finance Yorkshire continues to invest in SMEs that will make a difference and deliver a positive benefit to the regional economy in the future.”
LEP Chair welcomes devolution announcement
The man leading the Greater Lincolnshire LEP has announced his support for the devolution deal for Greater Lincolnshire.
Professor Neal Juster said: “The deal will move decision making and funding from Westminster to Greater Lincolnshire, which can only be a good thing for our economy.
“In the long term it will bring around £4bn of extra funding to Greater Lincolnshire and, just as importantly, it will give our area a stronger voice and better access to the levers that drive our economy such as transport, jobs, housing and skills. This should lead to improved outcomes and greater prosperity for us all.
“It will bring about new investments in infrastructure and skills to turbocharge business growth, tackle low productivity, protect our environment and unlock high-quality housing.
“The extensive consultation carried out showed that most businesses support devolution, recognising that it has the potential to bring more power, more money and more say over public sector funding. It is essential that we retain a strong Lincolnshire business voice at the heart of the devolution deal.
“We look forward to working with the government and closely with partners to put the new arrangements in place.”
Lupton Fawcett expands leadership team with new partner
Yorkshire law firm Lupton Fawcett has appointed a new partner to help advance its commercial offering.
Julie Evans will take a lead role in the firm’s Commercial Property team.
Her role will involve all areas of expertise relating to commercial real estate including acting on behalf of SMEs and individuals on landlord and tenant matters.
She said: “I’m looking forward to playing a key role in the supervision of junior members of the department as well as working with the leadership team to grow the Commercial Property department.
“Prior to joining the firm I was invited to spend time with the team so that we could get to know each other before my official start date – I think this was such a positive approach and a really warm welcome to Lupton Fawcett.”
Julie, who has more than 20 years’ experience and previously worked at Clarion, will be based at Lupton Fawcett’s Leeds office.
James Richardson, managing partner at Lupton Fawcett, said: “We are really pleased to welcome Julie to the Lupton Fawcett team. She has a broad breadth of experience and has a proven track record in all aspects of Commercial Property.
“Having someone with her knowledge and capabilities joining the team is a tremendous boost in taking the Commercial Property department to the next level. Her no nonsense approach to serving our clients without compromise perfectly complements the Lupton Fawcett ethos.”
Period property transformed from offices into homes fully let within two weeks
A brand-new apartment development in Leeds city centre, consisting of nine, one and two bedroom rental homes, has been let within just two weeks of being brought to the market by Zenko Properties. The city living agency fought off stiff competition to win the contract.
The former office building has been redeveloped by Yorkshire property specialists, Blackshaw Holdings, with a new build zinc clad extension added to Somers Street and the conversion of an original townhouse on Park Square West.
The development now offers a selection of individual apartments. Furniture, appliances and interior design services have been supplied by Leeds-based firm, Kit It Out.
Tobias Duczenko, Managing Director at Zenko Properties, said: “We competed against several other Leeds lettings agents to win this instruction, but we knew it would be a great fit for our portfolio, which already includes a good selection of small-scale but very high-quality schemes in sought after parts of the city.
“This development definitely fits into this mould. It’s very close to Leeds Town Hall and The Headrow, but still enjoys a quiet location overlooking the green and tranquil surroundings of Park Square, with some of the city’s best independent cafes and eateries on the doorstep.
“As a result, we were able to quickly generate interest in the development and let all of the apartments. The city centre rental market continues to go from strength to strength and it is unusual to be able to offer a small, purpose-built scheme of this quality in such a great location.”
Sam Taylor, from Blackshaw Holdings, said: “We invested significant sums in transforming this period property on Park Square from offices into homes, and we are very pleased to have worked with Zenko Properties and appreciate their proactive approach to marketing our development.”
Construction confidence tempered by funding and skills concerns, finds report
Confidence in the Yorkshire & Humber construction sector is tempered by funding and skills concerns, according to the latest Construction Market Intelligence from Yorkshire-based construction and property management consultant Rider Levett Bucknall.
Major developments including Sheffield Policy Campus and West Yorkshire Mass Transit are driving demand across a range of sectors and underpinning confidence in the region’s medium to long-term outlook.
Placemaking is now more prevalent in development opportunities in the region with the new emphasis on living and working within city centres. The demand for flexible, high-quality commercial spaces is still strong as hybrid working remains the norm.
The region’s confidence is being tempered by budget constraints across the public sector and the lack of clarity over the new government’s spending priorities. Labour shortages have continued to add pressure to wage inflation and construction costs, affecting project viability.
Contractors are cautious and their reluctance to take on uncertain commercial risk is a key feature of contract negotiations. This is both slowing progress and further inflating construction costs across the supply chain as contractors strive to maintain a reduced risk profile, says the company.
There has been minimal change in overall pricing levels since the last quarter with the general election dampening new opportunities, and material inflation having settled and reduced in areas. The key challenge remains the labour shortage and the impact this continues to have on labour price inflation.
There is cautious optimism among contractors over their future pipeline of work, but the long-term outlook on tender prices is hard to call until there is clarity on the spending priorities of the new government and given the backdrop of economic uncertainty.
- Steel prices continue to fall while other commodities remain relatively stable, which is reflected in the mixed picture we are seeing.in material prices.
- Material prices have fallen slightly overall with the biggest drops in plywood and reinforcement bar. Metal doors and windows have continued to increase in price.
- Due to the skills shortage in construction, labour prices continue to increase generally adding further pressure to the viability of projects. Facade contractors are in particular high demand.
Business chosen to build Sea Road building in Cleethorpes
JemBuild Ltd, based in Humberston, have won the contract to build the iconic Sea Road building in Cleethorpes.
Committed to using local companies where possible, JemBuild have already been working with North East Lincolnshire Council on the retaining wall works behind the old beach safety offices. Once this has been completed, work will start on the main building.
A new three-storey building will be constructed on the brownfield site on Sea Road, comprising retail or hospitality space, as well as new public amenities and a changing places facility. Work is ongoing to secure the pre-let agreement for the hospitality provider, which will be announced in due course.
Paul Barker, Managing Director of JemBuild, said: “I am delighted to have secured this fabulous contract with North East Lincolnshire Council and look forward to working with NELC along with our construction partners, Hodson Architects and C2C Structural along with our local suppliers on this exciting project that will undoubtedly cement its place on the local landscape to become as iconic as its sister building, the prominent Pier.”
Cllr Philip Jackson, Leader of the council, said: “This is great news for the area and it’s good to see things moving forwards. The Cleethorpes Masterplan, carried out by renowned consultants, Hemingway Design, has helped us create a vision for the future of the resort, based on what people who took the time to respond to the Masterplan want to see. And hundreds of people have been having their say about the future designs for Pier Gardens and Market Place in the last few weeks too.”
Interrupted by COVID, the three-storey Sea Road building was granted planning permission in 2020, and promises to offer new high quality outside space, with public viewing areas as well as balconies. The first floor of the building will be accessible from Pier Gardens, giving a gracious nod back to how the pier was accessed when it was first constructed.
Other elements of the building hark back to the Art Deco seaside style and the buildings constructed around the resort at that time, such as the small retail kiosks on Central Prom, and the former Electricity Board showroom on Isaac’s Hill.
Work to deliver the three key schemes in Cleethorpes, the Sea Road building, Pier Gardens and Market Place, along with a small amount for signage, is being funded by HM Government.
‘Trust deficit’ costs SMEs thousands every year, report shows
Struggling to know who to trust when doing business online has created a ‘trust deficit;’cost SMEs thousands every year, says B2B search platform B2B Stars.
The research highlights how nearly 30% of businesses are struggling to build trust with new contacts, while 29% report finding it hard to distinguish between fake and genuine profiles on places like social media platforms. As a result, SMBs are losing an average of £93,000 a year due to poor decisions driven by unreliable information, false profiles, and misleading claims.
Compounding the financial pressures that many small companies already face, it’s said this lack of trust online leads to inefficiencies and ineffectiveness in finding the right companies to partner with. The ultimate long-term consequence is a reduced competitiveness and growth of the UK’s SMB sector.
Raffaele Apostoliti, CEO of B2B Stars, Said: “The digital landscape has created fantastic opportunities for businesses to connect, but without trust, these connections can become liabilities. Small businesses are particularly vulnerable because they don’t always have the tools to verify whether the companies they’re dealing with are real and which of the companies are the right ones to partner with. And when things go wrong, it’s not just a missed opportunity – it’s a significant financial hit.
“The antidote to this ‘trust deficit’ is community. By fostering online spaces where businesses can connect with transparency and confidence, we can rebuild the trust that’s been lost.”
With nearly a third of SMEs fearing they may be forced to close by the end of the year due to mounting financial pressures according to government data, the lack of reliable insights is compounding existing challenges like rising costs and shrinking demand.
“Small businesses are the backbone of our economy, and they rely on trusted connections to survive and grow,” Apostoliti adds. “But when you can’t tell who to trust, it slows everything down – businesses become isolated, hesitant to take risks, and they miss out on opportunities. We need to create stronger insights online, which can boost trust across businesses.”
Strong levels of M&A activity expected in UK manufacturing
Strong levels of M&A activity are expected across UK manufacturing for the remainder of 2024, as dealmakers see a rise in business confidence.
According to accountancy and business advisory firm BDO LLP, M&A activity looks set to gain momentum in the final quarter of the year, as long as the political and tax backdrop remains conducive to dealmaking. However, reports of a potential rise in capital gains tax in next month’s Autumn Budget could impact sentiment towards M&A transactions.
BDO’s latest Manufacturing Deals Review shows that in the first half of 2024, 307 deals were completed in the sector, across the likes of engineering services, food & drink, building products and packaging and materials. Of these, 18% were buy-outs, with cross-border deals representing a third of transactions (34%).
Roger Buckley, Deal Advisory partner, Industrials and Manufacturing, at BDO, said: “While overall deal volumes remained relatively steady compared to 2023 figures, we expect to see strong levels of M&A activity over the coming months, with the market keeping a watchful eye on the Chancellor’s first Budget announcement at the end of October.
“Manufacturing remains one of the most resilient sectors, with a wide range of market drivers motivating M&A activity. This includes ESG, with the circular economy becoming a growing feature in manufacturing deals, reaching across all sub-sectors. Unsurprisingly, for the third year in a row, the sector has attracted the most circular economy-related investment, accounting for over a third of total deals by volume.”
In 2023, manufacturing saw a 25% increase in circular economy deal volumes, combined with the total deal value soaring to over £400 million of invested capital. The average disclosed deal size increased from £6.7 million to £12.2 million.
Buckley said: “The correlation between manufacturers making their businesses more sustainable and higher circular economy deal volumes is clear to see. More and more UK manufacturers are embracing circularity – a trend that is accelerating due to strong consumer attitudes towards sustainability and investors showing a significant interest in businesses addressing this issue.”
According to a BDO/Make UK survey of more than 200 SMEs in the sector, 40% of respondents believe that operating a circular business model will be more profitable than a linear model, suggesting an increase in manufacturers’ understanding of the economic benefits of circularity. The survey also showed that more than half of businesses (56%) plan to make circular changes in the next three years, with nearly a third (32%) stating that circular or sustainability credentials differentiate them from their competitors.
Rory McPherson, Deal Advisory partner at BDO, added: “Given the pace at which society’s attitude towards sustainability continues to change, it won’t be long before positive environmental credentials are seen as a minimum standard as opposed to a cherry on the top.
“For those who resist change without good reason, the lack of circular and sustainable practices will inevitably become a negative differentiator and dissuade customers from engaging. At the point the customer stops buying, it might be too late.”
Keepmoat signs lease on Alexandra Dock site in Grimsby
A lease that will result in new housing in the Alexandra Dock area of Grimsby has been signed with Doncaster-based homebuilder Keepmoat.
The 6.25-acre town centre site bordered by Fisherman’s Wharf and the River Freshney will eventually see a community of around 130 homes with supporting commercial accommodation.
The brownfield site has been the subject of consultation with developers in the housing market since November last year. This is a process where developers register an interest in the site, and then, through rounds of discussions, submit a final bid to take over the build lease of the site which then allows them to put in a planning application for their proposals.
Investment worth about £7.8m to support the development at this site has already been secured through the Government’s Towns Fund, and the build will be supported by brownfield funding secured as part of the Greater Lincolnshire devolution deal.
Cllr Philip Jackson, Leader of the council, said: “We want to create a place that connects the town and its community with its waterside, creating a fantastic urban living environment.
“North East Lincolnshire must develop as a place where people want to live and work. If that does not happen, we risk stagnating as a borough. We’re committed to making sure that does not happen.”
“There’s a long way to go yet, and developments of this scale don’t happen overnight. But we are working to improve the town centre as a whole and this is part of that vision.
“We want people who work in our borough to also live here as this will maximise the economic benefits to the area.
“Step-by-step, along with other initiatives in the town centre, we’re changing how our town centre can be used safely, and enjoyed by everyone.”
Ben Hindley, Regional Land and Partnership Director at Keepmoat, Yorkshire East, added: “We’re excited to be working in partnership with the Council to regenerate a large parcel of brownfield land and deliver new homes in Grimsby.
“At Keepmoat we pride ourselves on supporting local authorities to achieve their housing targets and we are honoured to be the housebuilder of choice for this project, selected to create much needed quality housing stock for generations to come.
“We are approaching the project in the Alexandra Dock area of Grimsby with healthy life principles in mind, to ensure the scheme is not only visually appealing, but has plenty of available green spaces for walking, cycling and spending time outside.”
Interest rates held at 5%
The Bank of England has held interest rates at 5%, in line with expectations.
The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted by a majority of 8–1 to maintain Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%.
The news follows last month’s reduction in interest rates, which marked the first decrease in four years.
Alpesh Paleja, Interim Deputy Chief Economist, CBI, said: “The Monetary Policy Committee was widely expected to hold fire this month, after the first rate cut in four years in August. There remain very varied views among the MPC around the degree of inflation persistence, and over what horizon this will dissipate.
“Monetary policy will be walking a fine line for a little while yet: between balancing upside risks to inflation, but not being too tight, so as to choke off activity. Developments in fiscal policy in October’s Budget will also be a key consideration for growth prospects.
“We still anticipate another rate cut in November, and a few more next year, in line with the MPC moving at a slow but steady pace. On their own, lower interest rates will be a welcome respite to households and businesses.”
Made Smarter calls for food and drink manufacturers to open up factories for National Manufacturing Day
Made Smarter is calling for food and drink manufacturers to open their factories to schools, colleges and the local community for National Manufacturing Day on September 26.
The government-funded, industry-backed programme, which helps manufacturers connect with technology and skills, is involved in events across the North West, North East, and Yorkshire and Humber.
Run by trade body Make UK, and now in its third year, National Manufacturing Day (NMD24) has become a national celebration of UK manufacturing and a chance to raise the sector’s profile.
Businesses are encouraged to sign up for a UK-wide ‘open house’, allowing members of the public to experience first-hand what manufacturers do, how they make some of our most loved household brands, and how they use the most cutting-edge technology.
With manufacturing vacancies high, the labour pool shrinking and makers needing help finding recruits with the right skills, NMD24 is a golden opportunity to demonstrate potential careers and jobs on offer, from engineering and robotics to data analysis and innovation.
Commenting on NMD24, Donna Edwards, director for Made Smarter North West, said: “I am delighted that Made Smarter and manufacturers involved in our adoption programme are demonstrating support for Make UK’s campaign.
“NMD24 aligns perfectly with the programme’s ambitions to help SME manufacturers achieve their digital transformation with a people-led approach and using technology as a tool.
“It is a fantastic opportunity to celebrate UK manufacturing and emphasise the role of Science, Technology, Engineering, and Mathematics (STEM) to encourage more students to pursue these subjects, something Made Smarter is passionate about.
“By opening their factories, which are normally closed to the public, it is the perfect opportunity for manufacturers to showcase the huge progress that has been made from the traditional oily rag image towards the smart modern factory. I would encourage more manufacturers to join the campaign.”
Elsewhere in the country, Made Smarter Yorkshire and Humber are hosting workshops demonstrating the benefits of better data capture and management, as well as how manufacturers can unlock innovation through new technology.
Made Smarter is also holding a special LinkedIn Live to celebrate the programme’s impact nationwide. The bite-sized broadcast will take place on Thursday, September 26 at 12pm.
From a national perspective, Brian Holliday, co-chair of the Made Smarter Commission, which leads the Adoption and Innovation programme, will share his insights for a special ITN programme to highlight the positive impact of the manufacturing industry. The show, ‘Manufacturing: Industry, Innovation and Impact’, will go out on NMD24 and will feature contributions from Made in Britain and The Manufacturing Technologies Association.
Stephen Phipson, CEO of Make UK, the manufacturers organisation, added: “National Manufacturing Day is a really exciting day where the whole manufacturing sector will come together to celebrate the amazing things that Britain designs and makes.
“Britain’s manufacturing companies are at the forefront of global renewable technology development and some of the most innovative engineering developments seen anywhere around the world.
“This is a sector with amazing opportunities and we hope this third National Manufacturing Day will give people who have never had the chance to see inside their local businesses just what is going on and the opportunities available to them.”
