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%.
Self-storage company expands footprint with Grimsby site
A self-storage company is building its presence across the country with a new site in Grimsby.
Kangaroo Self Storage has purchased a large former retail warehouse on M Park Alexandra, the retail park in Grimsby. The site was previously occupied by home improvement retailer, Wickes. The large format building occupies a prime site on the Retail Park and already has B8 consent, enabling the site to operate as self-storage with immediate effect.
The store will deliver a net floor space of 80,000 sq ft, trading over three levels. When fully fitted, the Grimsby store will be one of the storage company’s largest stores.
Gareth Dougherty, Acquisitions Manager at Kangaroo Self Storage, said: “M Park Alexandra is the perfect location for trialing our new retail park presence. It’s a very visible and convenient site with easy access and ample parking.
“As the need for storage becomes more lifestyle-driven, a site like this supports our ambition to bring storage directly to our customer base. We are delighted that M Park Alexandra landlords have been flexible and forward thinking – considering the current and future uses of sites like this.”
Chris Stevens, CEO at Kangaroo Self Storage, said: “Strategically, we see this as a significant transaction in the future repurposing of retail into other use classes. We expect to do more transactions like this as Kangaroo continues to expand its presence in the UK.”
The transaction was led by George Kearney at LCP, part of M Core, the owners of M Park Alexandra. Their advisers were Henry Phipps of Edgeley Simpson Howe and Osborne Clarke.
George Kearney, Senior Asset Manager at LCP, said: “We are thrilled to support Kangaroo Self Storage in developing their retail park presence at M Park Alexandra. With its prime location and excellent infrastructure, this site is perfectly positioned to serve the Grimsby community’s growing need for flexible and accessible storage solutions.”
Kangaroo Self Storage was advised by MBM Commercial, Temple Bright and JLL.
Fire and Rescue Services change rules on response to automatic fire alarms
Fire & rescue services across the UK have implemented a new policy regarding response to automatic fire alarms in certain types of commercial premises.
The changes impact many businesses, says PIB Insurance Services. IN essence fire and rescue services won’t turn out to automatic fire alarm calls during the day unless someone calls and confirms that there actually is a fire.
UK fire and rescue services face significant operational strain due to the large number of automatic fire alarm calls. These calls often result in unnecessary deployments, impacting resource allocation and readiness for genuine emergencies.
Automatic Fire Alarms go off and alert the fire service, but this havens even when there is no visual sign of a fire. They can be triggered by things such as steam, dust or not being maintained properly. West Yorkshire Fire and Rescue says it will no longer be responding automatically to AFA’s in non-sleeping risk premises. We will require visual confirmation of a fire before responding to alarms at these premises.
On average, over the last five years, these false alarms accounted for around a third of all West Yorkshire Fire and Rescue operations – more than 7,000 mobilisations a year where no fire was found. Fewer than 2% of these fire alarms result in a fire being found.
‘We need £1m compensation for road delays’, Council tells National Highways
News that Hull’s £350m Castle Street project has been delayed until Spring 2026 by National Highways has been met with dismay and demands for a £1m compensation package.
The Hull and Humber Chamber says the city’s traders and motorists now face another year of delays and challenging trading conditions as access to and from the city continues to be hampered.
National Highways say they have encountered some extremely challenging ground conditions near the Humber that could not have been anticipated before the scheme began.
Patience is rapidly running out as traders and drivers now face another year of disruption and delays, says Chamber Chief Executive Dr Ian Kelly. “This is not the Christmas present we wanted from National Highways, and this terrible news will put Hull’s business community under even more pressure at a time when many are struggling to cope with increased trading costs after the recent Budget.
“The Chamber is therefore calling for National Highways to set aside a £1m fund to help local businesses survive for the further 12 months this work is now going to take after all the delays and damage caused to the businesses community in Hull city centre.
“We thought after all these years the end was in sight, and now we have to endure another 12 months of traffic chaos which deters people from coming into the city centre.
“I’m not sure what they expected to find when they dug down below the water table, but surely after all the years of planning, there shouldn’t have been any surprises!
Kathryn Shillito, Exec Director of Hull’s Business Improvement District added: “Although we recognise the works are essential, we are disheartened to learn that completion is now scheduled for Spring 2026. Hull city centre businesses have been both accepting and patient but in exceptionally challenging times, this news comes as another blow. HullBID has tried its utmost to entice visitors into the city with events and marketing campaigns, whilst the businesses have gone the extra mile to keep their custom. Financial support would be welcomed to continue pushing out the message that Hull city centre is very much open for business.”
Jim Harris, the Centre Manager for St Stephen’s Shopping Centre, and HullBID chair, said: “This is very disappointing news. City Centre businesses have been heavily affected by the Castle Street scheme, and a lot of hard work has been done to mitigate the issues, but we could really do with some financial help if this is going to continue for yet another year!”
Self-employed tradespeople achieve record weekly earnings, says Hudson Contract
Self-employed tradespeople achieved record weekly earnings last month, with average payments reaching £1,053 according to the latest Pay Trends analysis by Hudson Contract.
The company says October’s figures show a month-on-month increase of 0.5% and year-on-year growth of 2.6%, despite broader economic headwinds.
Monthly earnings growth was strongest in roofing, where rates increased by 5.6%. Demolition and surfacing subcontractors followed with robust rises of 5 and 4.1%respectively.
Regional analysis shows the North East leading growth at 3.7%, with the East of England and South East following at 2.4 and 2.1%, reflecting continued strength in these key markets.
Hudson Contract MD Ian Anfield said: “As it has been all year, demand for good skilled labour remains high. Earnings are continuing to increase at a measured pace.
“We’re hopeful the government’s planning reforms and housing market stimulation measures will materialise next year. Sir Keir Starmer has promised ‘a golden era of building’ to improve the country’s prosperity. Our numbers are showing steady growth, which suggests the market might be moving in the right direction.”
Ripon firm wins £5.7m contract to modernise council gritting fleet
Ripon-based Econ has signed a seven-year £5.7m contract with North Yorkshire Council to upgrade half of the council’s fleet of gritters.
The contract will see 31 new gritters to treat the county’s 5,800 miles of roads, which, laid end to end, would run from Northallerton to Tokyo.
The gritters have been delivered in batches starting from October, and the final ones will be on the road by January.
Econ MD Jonathan Lupton said: “We are delighted to build on our longstanding partnership with NY Highways with the delivery of these 31 new gritters, which will play a vital role in keeping motorists safe on North Yorkshire’s roads this winter.”
The winter maintenance service needs about 70 gritters across the county each year, with the new gritters replacing the oldest vehicles in the fleet.
Councillor Keane Duncan said: “Our investment in the new gritting fleet further demonstrates our commitment to delivering the most efficient winter service across our vast county.
“The partnership with Econ not only means we have the most up-to-date and reliable vehicles, but we’re delivering a significant cost saving for taxpayers too. We are also pleased to be able to support a local firm as they are a big employer in the county.
“We look forward to the gritters taking to the roads as we strive to keep the county moving this winter.”
Gritters, their drivers, duty managers and officers are on call 24 hours a day between October and April – and longer if weather conditions require. Last year, more than 5,000 routes were treated.
Cameras and trackers are fitted in the gritters, which provide up-to-date information and allows them to be tracked online.
Inflation remains a threat to UK economy, says BCC
Inflation remains a threat to the UK economy, says the British Chambers of Commerce, predicting that the Bank of England is likely to remain hold the interest rate tomorrow lunchtime.
That’s the view of David Bharier, Head of Research at the BCC reacting to news of a rise in CPI to 2.6%.
He said: “Our research shows that taxation and inflation remain the top two concerns for businesses. Many businesses think the recent announcements such as the NICs increase, and Employment Rights Bill will lead them to increase their prices as they struggle to manage input costs.
“Our latest forecast expects CPI to remain above the Bank of England’s target until the end of 2026, mainly due to increased business costs and global trade uncertainty.
“Business investment will remain challenging unless firms are given extra help to deal with rising costs. Pushing forward with business rate reform would be one crucial step to take, coupled with a clear industrial strategy to unlock growth.”
Inflation up for second month in a row
UK inflation rose for the second month in a row in November, according to new figures from the Office for National Statistics (ONS).
Measured by the Consumer Prices Index (CPI), inflation ticked up by 2.6% in the 12 months to November 2024, up from 2.3% in the 12 months to October.
The largest upward contribution to the change came from motor fuels and clothing.
Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, rose by 3.5% in November, up from 3.3% in October.
Martin Sartorius, Principal Economist, CBI, said: “Another consecutive monthly rise in inflation, reaching its highest level since March, underscores the persistent price pressures within the UK economy. Wage growth remains strong, and we expect that the policy measures announced in the Autumn Budget will contribute to higher prices next year.
“Today’s inflation uptick reinforces our expectation that the Bank of England’s Monetary Policy Committee will leave Bank Rate unchanged tomorrow. Looking ahead, we anticipate a gradual, quarterly pace of rate cuts throughout 2025.”
