Boutique hotel acquired in York
Firethorn Trust has acquired boutique hotel Malmaison York in an off-market deal.
Purchased for an undisclosed sum, the 29,000 sq ft site is occupied by Malmaison under a 35-year lease, with a current rental income of £2.1m per annum.
Situated on Rougier Street, within the historic walls of the city, Malmaison York is in walking distance of popular tourist destinations including York Minster, York Castle and the National Railway Museum.
Providing accommodation across 150 guest rooms, the hotel underwent an extensive redevelopment in 2021, which included the addition of a rooftop skybar with panoramic views across the city.
It features Malmaison’s signature ‘Work + Play’ facilities, with meeting pods, co-working areas, conference rooms and an events space that caters for up to 180 guests, in addition to an on-site spa and gym. The hotel has become one of the best performing sites within the wider Malmaison and Hotel Du Vin chain.
This is the latest addition to Firethorn’s Living portfolio.
Marcus Weeks, Director and Head of Living at Firethorn Trust, said: “Malmaison York is a high-quality asset that will perform well and create long-term value for us, whilst strengthening Firethorn’s presence in the living space.
“It’s a fantastic addition to our investment portfolio and complements our wider development strategy to deliver high-quality spaces in great locations that enable people and places to thrive.
“We have an appetite and ability to pursue opportunistic transactions, and look forward to continuing our growth within the living sector.”
Firethorn Trust was advised by Conway Real Estate, JLL and Maples Teesdale.
Expressions of Interest open to secure lead development partner for Hull’s East Bank Urban Village
Hull City Council has launched its East Bank Urban Village project to market, opening Expressions of Interest (EOI) to secure a lead development partner to deliver the scheme.
Following interest in the site being expressed by a range of developers, this is the first formal phase of procurement as the council seeks to bring the site forward.
The project will see up to 850 new homes developed alongside a range of other uses on the East Bank of the River Hull. This will create a vibrant new urban village on underused brownfield land.
The council’s procurement process is being undertaken through the Homes England DPS Framework.
Garry Taylor, the council’s assistant director for major projects, culture and place, said: “It is great to have reached this important milestone in the project’s development in the opening of EOI for East Bank Urban Village.
“It is a site with huge potential and we look forward to progressing the conversation with prospective developers.”
East Bank Urban Village will help to support growth and investment into the city centre.
The site has been allocated for high-quality apartments with the opportunity for features such as social rooftop areas and spaces for families, outdoor play and integrated quality private amenity spaces. EOI must be made by Friday 5 July.
Family haulage business closes doors after eight decades
Cartwright Brothers (Haulage) Ltd, the family haulage and storage business based in Lincoln, closed its doors last week after 80 years of trading.
The company, which employed more than 100 people, was set up by four brothers shortly before the end of the second world war to meet demand for road haulage across the agricultural sector.
In the early fifties, Cartwright Brothers delivered sandbags along the east coast to hold back the damage caused by one of the worst storms in UK history. Over the past decades, Cartwright Bros has continued to work for large name businesses – mostly in the agricultural sector as well as internationally renowned companies.
Directors and sons of two of the original brothers, cousins Jamie and John Cartwright have been running the business for the past 30-plus years and delivered the bad news around the closure to staff on Thursday.
Jamie said: “It was with tremendous sadness that we had to close the doors at Cartwright last week. But running a haulage business over the past decade has come with huge challenges – rising diesel prices, a difficult economy, along with huge constraints caused by COVID 19.
“Cartwright was never able to continue in the same vein since COVID. Plus, the Ukranian war had a huge impact on our sector in terms of fuel price increases, acquiring replacement parts for vehicles and having to wait long periods of time for these parts to arrive – and at inflated prices.
“All of these challenges were underpinned by serious lorry driver shortages following Brexit which added even more pressure to running Cartwright Bros – along with Government legislation changes which continued to impede our viability.
“In December it was reported that more than 450 UK haulage businesses went out of business in the previous 12 months. These are stark figures for the industry and something needs to be done to ensure that this much-needed sector thrives and survives.”
John added: “Running a successful family business turning over £12 million over the past few years has been a huge honour and a great sense of pride. Unfortunately, with the number of challenges thrown at us, we were unable to continue the success of the business.
“It has been a really sad time for us – particularly as Cartwright Bros celebrated eight decades in business in January this year. We are so grateful to our wonderful staff whom we are supporting in the recruitment process going forward. Some of our people worked for Cartwright Bros for most of their lives and we count them as personal friends.”
The company started in 1944 with just one lorry. At its height, Cartwright Bros had more than 60 wagons on the roads.
Cartwright customers, who have worked with Cartwright Bros for many years, have been quick to commiserate with the cousins and Cartwright staff.
Natasha Crowson, who started her career at Cartwright Bros when she was just 21 has worked for the business for three decades.
She said: “Cartwright Bros has been a fantastic company to work for. My colleagues and I were devastated to hear the news last week – both for the business and its success over the years, but also for Jamie and John who have worked tirelessly to ensure that the company was safe – and staff were looked after.
“The outpouring of love and affection by employees for the directors was wonderful to see last week. Everyone had their own stories of how Jamie and John looked after them over the years – not just as employers but as friends. It was truly a sad day to see this fantastic company close its doors after so long.
“We will all miss seeing the distinctive Cartwright Bros lorries on our roads. The company has been a massive Lincolnshire success story for so long and they will be sadly missed.”
Stake snapped up in Lincolnshire offshore wind farm
Norges Bank Investment Management has acquired a 37.5 percent interest in a 573 MW operational offshore wind farm located off the Lincolnshire and North Norfolk coast.
The wind farm, named Race Bank, reached commercial operations in February 2018. It has 91 6.3-MW wind turbines with a combined total capacity of 573 MW, powering the equivalent of more than 510,000 UK homes annually.
Norges Bank Investment Management paid £330 million for its stake, valuing the wind farm at approximately £2.599 billion. The wind farm includes a debt facility with an outstanding balance of approximately £644 million at Norges Bank Investment Management’s ownership share.
The sellers of the 37.5 percent interest are Macquarie Asset Management, via Macquarie European Infrastructure Fund 5 (25%), and Spring Infrastructure 1 Investment Limited Partnership, a fund managed by Spring Infrastructure Capital Co., Ltd. (12.5%).
Arjun Infrastructure Partners will remain co-investor for 12.5% of the wind farm, and Ørsted will remain as a 50% owner and operator of the wind farm.
Output volumes unchanged but expectations remain positive amongst manufacturers
Manufacturers reported that output volumes were broadly unchanged in the three months to June, after rising for the first time in a year and a half in the quarter to May, according to the CBI’s latest Industrial Trends Survey (ITS). Manufacturers expect output to rise modestly in the three months to September.
Total order books improved in May, despite a sharp deterioration in the volume of export orders. Both total and export orders were reported below “normal” and below their long-run averages. Manufacturers reported that stocks of finished goods were more than adequate to meet expected demand, and to the same extent as last month. Meanwhile, expectations for selling price inflation picked up, with prices expected to rise at an above-average pace over the three months to September.
The survey, based on the responses of 248 manufacturers, found:
- Output volumes were broadly unchanged in the three months to June after rising in the quarter to May (weighted balance of +3%, from +14% in the three months to May) and were equivalent to the long-run average. Output is expected to rise modestly in the three months to September (+13%).
- Output increased in only 4 out of 17 sub-sectors, in the three months to June, with growth in the food, drink & tobacco, motor vehicle & transport sector, and plastics and furniture & upholstery sub-sectors broadly offset by falls elsewhere.
- Total order books were reported as below “normal” in June but improved sharply relative to last month (-18% from -33%). The level of order books remained slightly below the long-run average (-13%).
- Export order books were also seen as below normal and deteriorated relative to last month (-39% from -27%). This was also below the long-run average (-18%) and was the weakest outturn since February 2021.
- Expectations for average selling price inflation accelerated in June (+20%, from +15% in May) – well above the long-run average (+7%).
- Stock adequacy for finished goods were unchanged from June, with a net balance of manufacturers reporting that stocks were “more than adequate” standing at +14%, broadly in line with the long-run average.
Paint recycling firm relocates to new premises in Leeds
Paint reprocessing specialist Seagulls Reuse has relocated to Water Lane within the heart of the Temple district of Leeds where it recycles about 400 tonnes of household paint every year.
Seagulls will recycle, mix and sell paint as well as running a series of creative workshops close to the city centre in its new 31,150 sq ft warehouse.
Cat Hyde, co-founder of Seagulls, said: “We’d love to have the capacity to collect leftover trade paint but, at the moment, we have enough paint from Leeds households to meet our customers’ needs. But we are hopeful that this new city centre location in the fast-growing Temple district will hopefully entice new painters through the door enabling further expansion.
“So this is a plea to people across the city to pop in and see significant savings on quality paint, varnish and timber care. Whether painting your home, office, community centre, shed or garden furniture – we have something for everyone no matter the colour.
“The new space will also enable us to expand the range of workshops we run, from beginners decorating courses, to mosaics, murals and terrazzo, we will also have decorating pods available for hire.”
Seagulls Reuse launched in 2005. It is the brainchild of Cat Hyde and her co- founder. Keen to find new pathways into employment, with a shared passion for environmental sustainability they wanted to create a social enterprise that would benefit their community. They engaged with Leeds City Council and agreed to collect and reuse paint disposed at the nine Household Waste Recycling Centres across the city.
They now divert almost 400 tonnes of reusable paint each year, checking and reprocessing it for resale. Bespoke colours are mixed and matched by the team and its helpful volunteers before being resold from as little as £1 per tin.
The process is labour intensive and has provided an opportunity for employment, volunteering and training. Ruksar Ajmal started as a volunteer with Seagulls Reuse when leaving prison in 2007. A colour-blind paint mixer, he now works full-time helping to train other volunteers and decorators, assisting customers and managing the bespoke paint-mixing service.
Ruksar said: “Seagulls Reuse is a vibrant and vital environmental social enterprise. It has been life changing for me, and many others. In the last 17 years, I’ve learnt many skills and am now expert at creating bespoke paint colours by and using a spatula and paddle drill along with a splash of intuition and creativity!
“I love training our new volunteers from all walks of life. Many have been through struggles similar to mine and I’m keen to pass the support I’ve been given onto others who need it. We offer a fantastic community service and look forward to welcoming many more happy customers through our doors as we make the exciting move to Temple.”
Two in the running for housing sector achievement awards
Two team members at the Lincolnshire Housing Partnership have been shortlisted in the Women in Housing and Housing Hero Awards.
Danielle Toyne, Neighbourhoods and Allocations Manager at LHP in Grimsby, is one of only 10 women nationally shortlisted for Woman of the Year (Housing Association/Council).
Danielle has worked at LHP for 10 years and is responsible for the Neighbourhoods and Allocation teams which provide support to customers in 12,500 homes across the east coast of Lincolnshire ensuring a ‘customer first’ approach is at the forefront of what they do.
She said: “Being a finalist for Woman of the Year is absolutely the pinnacle of my career so far, so much so that I don’t think I will ever be able to top this, but what is especially special to me is being nominated by my colleagues.
“To know they think so highly of me means the absolute world, and I’m so grateful that I work with such a wonderful, passionate and inspiring group of people! A huge thank-you to my wonderful team, working with every one of you is the best part of my day!
“I am really looking forward to the awards ceremony and I am so proud to be one of the 10 finalists.”
Neighbourhood Officer at LHP, Mel Cheuk is a finalist in the Outstanding Achievement by an Apprentice category.
Based in the Grimsby office, Mel joined LHP in 2022 as a Housing Apprentice which involved working with its Neighbourhood Officers who have an active presence in the local communities. Mel was successful in gaining a full-time position in May 2023 as Neighbourhood Officer and has recently completed the Chartered Institute of Housing (CIH) Level 3 in Housing Management.
She said: “I was completely overwhelmed and humbled after being told I had been nominated for the award and was a finalist.
“I honestly just do my job which I love, and I am so passionate about our organisation and the difference we make, I just didn’t think I did anything special or different to deserve the nomination.
“I have always wanted to support people and work within an organisation that has strong moral compass and I have found it at LHP. I finally feel I fit and can make that difference.”
John O’Hanrahan, Corporate Head of Customers at LHP, said: “There really is no better way to reward those individuals making a real difference at LHP than to recognise their immense contribution at Women in Housing 2024 which is the only place the whole UK housing sector comes together each year.
“We are extremely proud of both Danielle and Mel for their well-deserved recognition. Their hard work, dedication, and continuous improvement have not only contributed to our organisation’s success but have also set an example of leadership and commitment for everyone at LHP.
“They embody our values by putting our customers first and working together collaboratively across the organisation, ensuring our services are delivered in the LHP Way – with commitment, empathy, and excellence.”
Gainsborough cinema on track for 2025 opening
Building of Gainsborough’s new cinema is said to be well under way by Eddisons incorporating Banks Long & Co who are managing the project on behalf of client Savoy Cinemas.
Scheduled to open in the summer of 2025, the four-screen cinema complex and attendant leisure and retail development are the anchor properties at the heart of the multi-million pound initiative by West Lindsey District Council to regenerate Gainsborough’s historic town centre.
Gainsborough is the third Lincolnshire location – alongside Grantham and Boston – for Savoy Cinemas Ltd, a growing regional chain whose other locations include two in Nottinghamshire, one in Northamptonshire and another in South Yorkshire.
Eddisons incorporating Banks Long & Co was appointed last year as the project manager and quantity surveyor by the cinema chain, and work on the new cinema building follows the demolition of old buildings and the clearing of the site.
The firm has worked on a number of cinema, leisure and retail projects before, most recently in Lincoln as part of the ongoing Cornhill regeneration project.
Eddison’s’ director Daniel Garfoot is leading the project management team. He said: “The site is in the town’s conservation area and has rightly been of archaeological interest given the site’s previous uses down the century.
“We are also mindful of the Listed status of neighbouring buildings, as well as the operational requirements of their current traders and occupiers. But it’s our job to steer the project through to deliver the new cinema building in a way that reconciles local sensitivities with our client’s commercial imperative. That’s something all parties are on track to achieve.”
James Collington, Savoy Cinemas’ MD said: “We’re glad to be adding Gainsborough as the newest location to our growing portfolio of cinemas across this part of the country. The fact that our new complex gives new life to a derelict site and is at the heart of the revival of the town centre gives the project extra significance for all involved.”
Charity walks raise more than £4,000 for good causes
Teams from Breckenholme, including representatives from Yorkshire Rapeseed Oil, Charlie & Ivy’s, and The Honest Bean Co, and Wold Top Brewery met at Breckenholme Farm in Thixendale to walk 31 miles across the Yorkshire Wolds to Hunmanby Grange, home to Wold Top.
A team of 18 from Breckenholme participated in the walk, with six walking all 31 miles and the rest walking between eight and 23 miles to raise money for HOPING York Street Kitchen. Wold Top’s team included one member, Alex Balchin who did all 31 miles and five walkers who completed between eight and 20 miles to raise money for St. Catherine’s Hospice in Scarborough..
Breckenholme’s co-founder Adam Palmer was one of the walkers who completed all 31 miles: “It was a great team effort from both businesses that raised an incredible amount for the respective charities. It was a fantastic day: good weather made for amazing views and it was very rewarding to see the money rolling in and to have a well-deserved pint of Wold Top at the end!” The team exceeded their £3,000 target and have raised £4,157 to date.
Wold Top’s brewery director Alex Balchin added: “St. Catherine’s is a charity very close to our heart at Wold Top as they helped to care for our co-founder Gill at home in her last few months battling cancer. There was great camaraderie en route and we all enjoyed the food and beer at the end. We were delighted to exceed our fundraising target of £500 and have raised £845 to date, with some monies still to come in. Thanks to the team at Breckenholme for organising it: it was a great success.”
Yorkshire digital marketing firm acquires web development agency
Accelerant has acquired web development agency Burrwalk, transitioning more than 50 of Burrwalk’s clients into its own portfolio.
The acquisition sees the agency more than double its own client base, taking the overall tally to more than 90.
Established in November 2023 by Tom Coates, Accelerant is a digital marketing agency based in Mirfield, West Yorkshire, offering marketing services including website development, SEO, branding, social media and digital design.
The agency will initially deliver website management and hosting services for its new clients, prioritising a seamless and interruption-free transition.
Coates believes that the integration of Burrwalk’s client base, which includes small to medium-sized businesses from throughout the UK, aligns perfectly with Accelerant’s ambitions for growth.
Accelerant Managing Director Tom Coates said: “We are excited to welcome Burrwalk’s clients into the Accelerant family and look forward to managing their online presences moving forward, as well as driving their own growth through our marketing offering.
“Adding to our existing base of close to 40 active clients, this is a major early milestone for Accelerant, underpinning significant expansion and entrenching additional stability for the business following a successful first six months.
“Our priority is to ensure business as usual for Burrwalk’s clients during this transition, although we are also relishing the opportunity to explore additional marketing potential that can further benefit these businesses.”
Burrwalk was a specialist website development and management agency, based in St Neots, Cambridgeshire, owned and operated by Lee Burrett, an experienced IT specialist and web developer.
He said: “After many successful years of building Burrwalk into a specialist web development agency, I am thrilled to see our clients in the capable hands of Accelerant.”
Lee now intends to focus on business interests outside of the sector following the completion of the sale to Accelerant.
The acquisition was facilitated with the advisory support of Accelerant consultants Phil Taylor-Guck, Adam Matich and Mindaugas Bendikas, and Bruce McLeod of Ad:Ventue.
