Leeds retail park to be sold for £18m
A retail and leisure development in Leeds that includes Aldi and B&M stores, a Costa coffeeshop and McDonalds restaurant is now on the market, following its recent completion.
St Georges Retail Park – a partnership between Commercial Development Projects and Rothstone Estates – is located on Middleton Ringroad, Middleton, and has transformed this nearly six-acre brownfield site into a new retail-led destination.
Mason Partners and Savills are now marketing the completed development with a guide price of offers over £18 million for the freehold of the site, showing a return of 6.35 per cent.
A wide range of businesses are now based at St George’s Retail Park including B&M, Aldi, McDonalds, Costa, Greggs, Subway, Harrison Family Vets, Card Factory, The Extra Care Charitable Trust, Sbarro and Vendor Guarantee.
The development has regenerated the former Leeds City Council bus depot in Middleton and was granted planning permission in 2019. All the buildings have been built with sustainable features, with extensive landscaping across the site.
Mark Rothery from Rothstone Estates said: “We are proud to have delivered St Georges Retail Park and it’s testament to the great location and quality of the development that we have attracted these fantastic businesses here. It has regenerated a former derelict brownfield site and will provide a major economic boost to the local area.”
Freddie Guest from Savills added: “Savills is delighted to bring this prime convenience and food led retail warehouse investment to the market. The investment offers a highly attractive income profile with a weighted unexpired term of over 15 years and boasting excellent ESG credentials.
“We expect this opportunity to appeal to both the UK and global investor audiences, with the scheme perfectly positioned to take advantage of the strong rental growth prospects being witnessed in the retail warehouse sector at this time.”
New electronics group calls for removal of VAT on electrical repairs
A newly-formed coalition of electronics industry leaders, known as CLEAR – Circular Leadership for Electronics and Recycling – is urging the Government to remove VAT on electronic spare parts, repairs, and labour, ahead of the upcoming autumn budget.
The move is said to be part of a broader effort to promote sustainability within the sector and make repairs more accessible and affordable for consumers.
Chaired by James Rigg, CEO of Huddersfield-based Trojan Electronics, the CLEAR group aims to address the mounting issue of electronic waste and the barriers preventing consumers from repairing rather than replacing electrical items. He says removal of VAT on electronic repairs is a “crucial step” toward creating a more circular economy.
“With the upcoming budget, we believe it’s essential to focus on VAT reduction as the first step toward broader circularity measures. This will make repairs more affordable, reduce electronic waste, and promote sustainability.
“45% of consumers say that it’s cheaper to buy a new item than have their existing one repaired. Many hesitate to repair electronics when costs near the price of a new device. Removing VAT from repair services would make repairs more affordable, encouraging consumers to fix rather than replace their devices,” said Rigg.
CLEAR is advocating for the UK Government to follow the example set by countries like Austria and France, which have introduced subsidies for electrical repairs.
Rigg believes that by removing VAT on refurbished electronics, UK consumers would be more inclined to choose repair options, significantly cutting down on e-waste.
He said a recent survey revealed that 82% of consumers recognise their role in reducing e-waste, highlighting a growing demand for sustainable solutions. However, to make repair a viable option, the government needs to take action, he said. This means removing VAT and creating easy-to-use platforms for consumers to find local repair services.
He added: “Research highlights consumer frustration with the high cost of repairs. More than half of respondents said repair costs deterred them from fixing broken items, with 45% stating it was cheaper to buy new products. Additionally, 85% of consumers supported stronger government action on sustainability in the electronics sector, and 91% backed the removal of VAT on electrical spares and labour.”
Search is over for new owners of family business
A longstanding family business that rents out plant and machinery to many of the biggest events in the UK, as well as providing industrial air compressor solutions to manufacturers and businesses across the country, is now owned by its employees, after transferring into an Employee Ownership Trust (EOT).
William G Search Limited was established in Leeds in 1946 and employs a team of more than 120 people across offices in Leeds, Liverpool, Manchester, Nottingham and Sheffield.
Its clients include compressed air users, the construction industry and many major outdoor events such as Leeds and Reading Festivals and Aintree Racecourse – where it has supplied equipment for the Grand National for almost 50 years. The firm was advised on its EOT by Cathy Cook from Yorkshire-based LCF Law.
Richard William Search and his brother, Jamie have owned and run the business for the last 35 years. It was originally founded by their grandfather, Bill Search.
Richard said: “When it came to succession planning, our children already have successful careers elsewhere, so we were keen to find the right way to secure the future of our firm for the people that matter the most – our team and our clients.
“We had been approached several times to sell outright to competitors and other big operators in the sector, but we felt this option did not fit with our ethos. We are a family business at heart, and we wanted to do something our grandfather, who established the business 78 years ago would be proud of.”
Richard and Jamie began exploring the EOT option after discussing it with a fellow member of the Business Alliance, which is a local business leaders’ group. They had recently been through the same process.
Richard said: “Cathy and the team at LCF Law came highly recommended, so we decided to look into what it involved. The advice we were given was incredibly prudent and we felt it was the perfect solution for us.
“There are lots of benefits to the team, including tax free profit share, but most importantly they’re now all stakeholders in the company. By setting up the EOT, our team benefits from the firm’s financial success now and in the future, whilst also leaving a real legacy.
“Crucially, the EOT also safeguards the future of our people and clients for the long term. Our clients can be sure that we remain the safest and most reliable supplier to do business with – we have worked hard to build those relationships, and it was important to us that we retained our approach – so this was a big driver for us.
“The best people to maintain this culture are the people who have worked with us for years.”
Cathy Cook from LCF Law said: “EOT owned businesses are generally successful in terms of resilience, profitability and staff retention and one of their strengths is that the company can plan for the long term.
“The Search brothers needed a retirement strategy, but they didn’t want their business to be sold and split up – they didn’t feel at all comfortable with that. They wanted to leave the business in the best possible shape for the future, and as part of that process Richard will be working in the business for at least three more years to manage the transition.”
Richard added: “Of course it’s been an emotional time for us – we wanted to make the right choices and Cathy and her team made it a straightforward process that was delivered on time and within budget. We were delighted that everything went to plan.
“Our team are now starting to see what being an EOT means, and we are looking forward to a cracking future.”
South Yorkshire firm signs landmark deal with Northern Powerhouse Investment Fund
Sheffield-based FinLegal has become the first company in South Yorkshire to complete a deal with the Northern Powerhouse Investment Fund II since the fund’s launch in March.
The company has raised £2m to accelerate the growth of its client base internationally. The funding has come from NPIF II – Mercia Equity Finance, managed by Mercia and part of the Northern Powerhouse Investment Fund II (NPIF II), and Mercia’s own funds.
FinLegal’s platform is designed for managing class actions or large numbers of similar claims, where a law firm may be acting on behalf of thousands or even millions of claimants. It enables claimants to engage with lawyers more effectively while allowing law firms to benefit from automation and AI and reduce operating costs. FinLegal states that it can enable legal teams to handle up to six times more claims.
The company was founded in 2019 by Steven Shinn, an IT specialist who had been following the news stories about the Post Office group action and recognised the potential to use automation to make the process more efficient. Since its launch in 2020, the platform has processed over 2 million claims and is now used by the UK’s leading mass claims firm Leigh Day, the Australian market leader Maurice Blackburn and a growing number of mid-market firms in the US.
Mr Shinn said: “”The claims market is ripe for a platform like ours. Many claims are run on a no-win no-fee basis and increasingly there are fee caps, so operating costs are critical. Our solution reduces costs, automates but also improves client care and makes it possible to manage claims at a scale which might otherwise not be viable. It has already been adopted by the some of the leading claims firms and this investment will enable us to accelerate our international growth.”
Corporate campers rough it to raise charity funds
Corporate campers will be roughing it by sleeping outdoors to raise money for Dove House Hospice, Hull Homeless and Resettlement Project (HARP) and the Hull KR Foundation – and they’re paying well over any hotel rate in the region to raise charity funds.
Deb Oxley, founding director of Oxley Works Ltd and a Deputy Lieutenant of the East Riding, said: “Each charity is supporting local people at a time of real need in their lives. They are working with homelessness, end of life care, or helping people get back into the mainstream through education and employment. So even though I am dreading a night in the cold, I am happy to make that sacrifice to help, in my own small way.”
The Big Hull and East Yorkshire Sleepout 2024 will take place at Sewell Group Craven Park from 7pm on Thursday 7 November until 7am the next day. The event is the brainchild of Sean Henderson, MD of Sewell Facilities Management, who will be braving the elements with growing numbers of colleagues, clients and contacts including Paul Hamnett, chief executive of the Foundation, and Chris Sadler, chief executive of Dove House.
The participants will be stripped of all luxuries and left to sleep out in the cold terracing and seating of the stadium equipped with only a sleeping bag and some cardboard.
They are asked to raise a minimum of £500 to take part, and to sign up a companion as well. The Rooted in Hull project will provide a warming but simple meal of soup and bread, and there will be opportunities to donate more cash by bidding in a silent auction for such “luxuries” as a camp bed.
Jo Barnes, MDof Sewell Group, plans to draw on the experience of camping trips when her sons were young. She said: “I know it’s all about layers, a woolly hat, warm drinks and a few laughs along the way. The causes we are raising money for are all really important to our community, and, on the upside, it’s not like I’m running a marathon and have to have a training plan in preparation, so I think I’m getting away lightly!”
Chris prepared for the sleepout challenge by scouring the stadium for suitable locations to get his head down – stretching out on the terraces, bedding down between the seats and even nestling at the bottom of a stairwell.
He admitted: “I’m just not sure this is the right challenge for me to be involved in. I think I can just about contend with sleeping in a cardboard box in the middle of November but the big challenge for me as a lifelong Hull FC fan will be convincing colleagues to join me for a night under the stars – and doing it in the red and whites’ backyard!
“Raising the £500 target shouldn’t be seen as a hurdle. Start by reaching out to friends and family, and then tap into your network of clients, suppliers, or customers. Office-friendly activities, like a bake-off followed by a bake sale, a lunchtime quiz, or even raffling off a holiday day, can generate a substantial portion of your target. These events not only help raise funds but also create excitement in the workplace, energising meetings and offering opportunities to reconnect with people you may not have spoken to in a while.”
Deb added: “I’m doing this because local charities depend almost entirely on local support. It’s important that everyone that can, from time to time, donate some of their time, thought, energy or even money to organisations that exist because there is a need that the public or private sector can’t fill.
“I am really looking forward however to spending some quality time with other local leaders to hopefully discuss how we can do more for all of the charities in the area – and to seeing how each of us copes with the cold too!
“But having never done this I am out of my depth! Three things that I will take with me – and hopefully bring back – are my sense of humour, my stamina and a big hot water bottle!”
Drax to invest in ‘FastRig’ sail project to cut shipping sector carbon
Drax Group is to invest £1m into a partnership with Smart Green Shipping to develop and use innovative wind-assisted ‘FastRig’ technology, which will be used to help decarbonise the shipping sector.
The Drax £1m will be matched by funding from the Government’s Clean Maritime Demonstration Competition grant, which will see Smart Green Shipping’s, lightweight, retractable wingsail installed on a vessel, with a view to demonstrating how the technology can reduce fuel consumption and resulting emissions by up to 30% per year.
Smart Green Shipping is currently undertaking sea trials of FastRig on one of Nuclear Transport Solutions’ specialist vessels, the Pacific Grebe – a purpose-built ship designed to carry nuclear cargo around the world safely. The sea trials will conclude by the end of October and will provide Smart Green Shipping with accurate, independently verified performance data.
The greenhouse gas emissions from shipping contribute around 3% of all global emissions, having risen 20% over the last decade. An earlier feasibility study conducted in partnership with Drax demonstrated potential fuel savings on ships equipped with FastRig of up to 30% per year on transatlantic routes.
If the latest demonstration is successful, work to install the technology on a commercial biomass vessel can begin, helping to decarbonise this hard-to-abate sector. The technology could also prove vital to further reducing supply chain emissions from the bulk transport of Drax’s sustainable biomass, which is used to produce around 8% of Britain’s renewable power.
Diane Gilpin, CEO and founder of Smart Green Shipping said: “Wind is abundant, free, and exclusively available to any ship equipped to use it. Modern 21st century easily retrofittable wing sails lower the cost of propelling ships, which reduces the dependency on commodity-based fuels – whether fossil or alternative fuels – and improves supply chain certainty. Smart Green Shipping shares a joint mission with Drax Group to use renewables to move renewables. We are immensely grateful for the support from Drax Group to create seamless and easy-to-access wind solutions for cargo owners and ship owners. The first commercial installation of FastRig is incredibly exciting and an important milestone as we derisk the transition to wind for the whole shipping ecosystem.”
Miguel Veiga Pestana, Chief Sustainability Officer at Drax said: “Smart Green Shipping’s technology represents a landmark moment for the maritime energy transition and Drax is proud to provide this funding, which re-affirms our commitment to becoming a carbon-negative business by 2030. We look forward to continuing our longstanding partnership as we work together on this exciting project, which could allow us to significantly reduce emissions from the shipping of sustainable biomass, and help to decarbonise a crucial part of our global supply chain.”
Law firm’s fees top £30m after 14% increase
Lincolnshire and East Yorkshire law firm Wilkin Chapman has increased fee income by 14% across its offices in Grimsby, Lincoln, Beverley, and Louth in in the last financial year.
Fee revenue of £31.17m bat the previous year’s total of £27.4m in the last financial year, with all four of the firm’s offices achieving increased revenue. revenue rise – with particular growth in Beverley and Grimsby. Net profit was much the same at 24%.
Senior Partner Chris Grocock said: “We are very pleased at the continuing confidence in us as a firm from established and new clients and it is testament to the quality of our support that we have achieved such growth. This follows strong growth in the previous financial year which had seen an increase of more than 10% in fee revenue.
“Importantly this growth has enabled us to invest in our people and infrastructure to further help develop the business in the medium term.”
Farmers’ Friday deadline approaches for free energy efficiency assessment
Farmers have until Friday to register for a change to get a fully-funded assessment aimed at reducing greenhouse gas emissions and improving farm efficiency.
The offer comes from the York and North Yorkshire Combined Authority, in partnership with NFU Energy, has launched a farm decarbonisation initiative offering 30 farms in North Yorkshire the unique opportunity.
Funded by North Yorkshire Council through the UK Shared Prosperity Fund, farmers will receive tailored assessments designed to meet the unique needs of their operations. These include energy audits to identify ways to reduce consumption and lower costs, renewable energy feasibility studies exploring options like solar or wind power, biodiversity assessments to improve farm habitats, and soil carbon analysis to evaluate soil health and carbon sequestration potential.
Each assessment is geared toward supporting farm decarbonisation, offering practical, actionable recommendations to help lower GHG emissions while promoting long-term economic resilience.
The project aligns with York and North Yorkshire’s Routemap to Carbon Negative by 2040 and the North Yorkshire Council’s Climate Change Strategy, both of which focus on reducing emissions across all sectors, including agriculture.
David Skaith, the mayor of York and North Yorkshire, said: “York and North Yorkshire’s farmers already lead the way in many aspects. We have high standards of food production and we’re also ambitious on the environment.
“With more than 70% of our area used for agriculture, farming has a big part to play in our ambition to become carbon negative by 2040. But we also understand the financial pressures that farmers are facing today. So, this initiative offers cost savings with environmental benefits.
“By partnering with NFU Energy, we are helping farmers improve their productivity and efficiency by working with them to embrace low carbon technology, embrace natural resources and create more resilient, sustainable food supply chains.”
Contact NFU Energy on 024 7669 6512 for more information.
SME exports total slips back after promising quarter
The Trade Confidence Outlook by the Insights Unit at the British Chambers of Commerce shows the percentage of SME exporters reporting increased exports has fallen back in Q3 by five percentage points after an uptick in Q2.
Overall, 22% of SME exporters reported an increase in export sales, while 24% reported a decrease and 54% reported no change. The position for advance orders is even less optimistic with 19% of SMEs reporting an increase, 56% no change, and 25% a decrease. SME exporters are consistently more likely to report decreased exports compared to before the pandemic and Brexit.
In Q2 2018, only 14% of SME exporters reported a decrease in overseas sales, in Q3 2024 it stands at 24%.
By contrast, domestic demand for SME exporters remains consistently more buoyant, with 32% reporting an increase in domestic sales in Q3 2024, against 22% for overseas sales.
SME manufacturers are slightly more likely to report increased overseas sales, with 26% reporting a rise in exports. This compares to SME services exporters supplying end customers (B2C), where 20% saw an increase, while 20% of firms supplying services to other businesses (B2B) saw a rise.
However, the picture for advance orders showed no improvement, with 24% of SME manufacturers reporting an increase, 16% of B2C firms and 17% of B2B businesses.
William Bain, Head of Trade Policy at the BCC, said: “While the UK economy made a brighter start in 2024, it’s an increasing concern that this is not translating into a better performance on exports for our SMEs.
“It’s also alarming that our research shows the services sector is experiencing a harder time than manufacturers, as it has been the UK success story since the pandemic.
“The Government’s forthcoming Trade Strategy needs to be laser focused on addressing the issues which are holding back exporters of both goods and services.
“There are some positive actions already underway. These include significant trade negotiations restarting, the UK’s imminent accession to the Pacific region’s largest trade bloc, more focus on digital trade and a commitment to an improved EU trading relationship.
“But business will want to work with Government at pace, to put in place a framework that makes use of all the UK’s advantages to unleash our exporting potential.
“The Government’s recent announcement of a new supply chain taskforce, to increase resilience, is also an essential step.”
Football arena and sports bar seeks buyer following appointment of administrators
Active Arena CIC has appointed Mark Hopkins and Ian Rose of FTS Recovery Ltd as joint administrators following the closure of their customer-facing premises on 3 October 2024.
The company, which has operated a community football arena and sports bar in Lincolnshire since 2019, was forced to cease trading on 10 October 2024 when severe cashflow shortages resulted in the disconnection of the Arena’s electricity supply.
Despite the popularity of the Active Arena venue, the company’s profit margin had been seriously depleted by rising energy prices and other cost increases associated with the cost-of-living crisis. With the company’s cashflow already stretched by Covid, this ultimately made it impossible to continue trading.
FTS Recovery is now actively seeking a buyer for the company and its assets, with a view to its continued trading as a going concern at their current premises. The sale will be managed by FTS Recovery’s appointed agents, Eddisons.
Mark Hopkins, insolvency practitioner, FTS Recovery Limited, said: “The closure of the Active Arena site will be a blow to the local community who have welcomed the award-winning facility as a fun and safe place to socialise and become active. We are eager to arrange a sale that will allow the company to return to serving its loyal customers as quickly as possible.
“The Arena is an excellent opportunity for the right buyer to build on what is already an integral part of the community with a strong customer-base and brand recognition.”
