New owners set to revive North Yorkshire hotel
Specialist business property adviser, Christie & Co, has sold the Cliffemount Hotel on the North Yorkshire coast.
The 20-bedroom hotel enjoys a cliff top position with coastal views and is located above the honeypot seaside town of Runswick Bay, a major tourist and holiday village close to Whitby.
The hotel previously boasted a great reputation for quality food, a warm welcome and lovely rooms, many of which offer views across the heritage coastline and seascapes. However, in recent years the reviews have declined largely due to a lack of investment in the building, resulting in poor standards of customer service.
Help is at hand, however, in the form of the new owner Karen Fojt and her family, who recently completed the purchase of the hotel and plan to rebuild the business into a bespoke hotel, restaurant and bar. Works have already begun on the significant investment programme, including a complete remodelling both inside and out.
Karen elaborates: “My family and I are grateful to have spent many wonderful years holidaying in Runswick Bay and when this opportunity came up it was the perfect chance to invest back into the community and the local area. We’re extremely excited to start work on Cliffemount with an expected opening of Spring 2024.”
Acting for the seller was Mark Worley, director – Hospitality at Christie & Co. He adds: “Having sold this hotel in the past, I am acutely aware of the affinity that locals up and down this particular stretch of coastline have with the property and I too, was alarmed by its declining reputation.
“I was delighted therefore, when Karen got in touch and let me know of her plans and asked me to approach the owners regarding a possible sale. Fortunately, the timing was right for all and a deal was struck which will allow the owners to move on and for Karen to take over what I am sure will become one of the best hotels in the region.”
“This is a hugely pleasing good news story and it illustrates the demand for coastal and tourist driven hotels and hospitality businesses across the north,” continues Mark. “We wish Karen all the best in this exciting new venture.”
Harrogate Town Football stars cut the ribbon at Aon’s new office
Aon plc, a global professional services firm, was joined by Harrogate Town AFC stars Warren Burrell, Becky Wilson and Joe Mattock, who cut the ribbon at the official opening of its new premises in Hornbeam Business Park.
Aon, which provides its Yorkshire-based clients, from SMEs to large corporates, with a broad range of risk, retirement and health solutions, sponsors Harrogate Town AFC’s successful men’s and ladies’ teams and thought it would be fitting for Burrell, Wilson and Mattock to officially open its new Harrogate office.
Vice-captain Burrell re-joined Harrogate Town AFC in January 2016 following spells at Worksop Town, Leek Town and Sheffield FC. With over 250 appearances, Burrell played a key part in the club’s promotion to the football league.
As Harrogate Town AFC’s girls development officer, Wilson is responsible for supporting growth within the Girls Player Development Centre (PDC), engaging with local schools and junior football clubs and implementing a games development programme for all age groups.
Former England Under 21 defender Joe Mattock is Harrogate Town’s latest signing, joining the club in June 2022. The defender has previously played for Leicester, Sheffield Utd, Sheffield Wednesday, West Bromwich Albion, and most recently Rotherham.
James Fell, head of office for Aon Leeds Tingley and Harrogate, said: “We’re honored that Warren, Becky and Joe took time out of their busy schedules to officially open our new Harrogate office. Aon is committed to making a positive social impact in the community, which is why we have invested and supported Harrogate Town.
“The new premises means Aon employees can work both at home and when they need to, in the office, as part of Aon’s SMART working culture, and cements our position in Harrogate’s thriving business community.”
Aon employs more than 115 insurance and risk management specialists across its Yorkshire offices providing clients, from SMEs to large corporates, with general risk and insurance, risk management and consultancy, employee health and benefits, credit insurance, cyber risk consultancy, and mergers, acquisitions and transaction services.
Ahead of the 2022/23 season, Aon renewed its sponsorship of Harrogate Town AFC. The sponsorship supports Harrogate Town AFC’s education provision, player development centre and its Football Academy.
Contract signing is latest step in Hornsea 3 wind farm project
Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarteng, joined Ørsted and the Low Carbon Contracts Company for the signing of the Contract for Difference for Hornsea 3 offshore wind farm.
Managed by the LCCC, the latest portfolio of contracts marks a substantial step beyond previous auction rounds – with Hornsea 3 awarded a CfD at an inflation-indexed strike price of just GBP 37.35 per MWh in 2012 prices.
At the signing, Ørsted’s Benj Sykes and Patrick Harnett were joined by Kwasi Kwarteng and the LCCC’s George Pitt.
With a capacity of 2,852 MW, Hornsea 3 will produce enough low-cost, clean, renewable electricity to power 3.2 million UK homes, making a significant contribution to the UK Government’s ambition of having 50 GW offshore wind in operation by 2030 as part of the British Energy Security Strategy.
Supporting up to 5,000 jobs during its construction phase, Hornsea 3 will also play a key role in in the ongoing development of a larger and sustainably competitive UK supply chain. Ørsted recently joined Secretary of State Kwasi Kwarteng at the ground-breaking of SeAH Wind’s monopile factory in Teesside, following a multi-million pound agreement for Hornsea 3 to be the first and lead customer at SeAH’s new UK facility.
Benj Sykes, Vice President at Ørsted, said: “The offshore wind industry success story continues to deliver great value to the UK economy and Hornsea 3 represents another significant step forward. The project demonstrates how far the industry has come in terms of cost and scale and, crucially, in bringing forward projects that will deliver low cost, clean energy to households and businesses across the country.
“Ørsted expects to invest a further £14billion in the UK by the end of this decade, supporting the delivery of thousands of high-quality jobs and strengthening the UK supply chain. We look forward to working with government and industry colleagues to accelerate the deployment of offshore wind.”
Hornsea 3 will be located 160 km from the Yorkshire coast, and Ørsted expects to commission the wind farm in 2027. When Hornsea 3 comes online, Ørsted’s Hornsea zone – comprising Hornsea 1, 2 and 3 – will have a total capacity of in excess of 5 GW, making it the world’s largest offshore wind zone covering the power consumption of approx. 5 million UK homes.
The Hornsea Zone will also include Ørsted’s Hornsea 4 project, which could have a capacity of approx. 2.6 GW. Hornsea 4 is currently going through the planning process with a decision expected early next year.
Kier gets £400m contract to build new prison in East Yorkshire
Construction firm Kier has been awarded a £400m contract to build a cutting-edge jail in East Yorkshire.
The new Category C prison will be designed from top-to-bottom with the latest smart technology to cut crime and protect the public, and is due to take its first prisoners in 2025.
The jail will include an unprecedented array of workshops and classrooms, so prisoners spend their time behind bars learning new skills to find work on release – factors known to significantly reduce reoffending.
It will also be the first new prison to operate as zero-carbon in the future, with an all-electric design, solar panels, heat pumps and more efficient lighting systems to reduce energy demand significantly.
In a boost for the local economy, the new prison will create hundreds of jobs in construction, and a further 600 once the establishment opens.
And at least 50 construction roles will be earmarked for ex-offenders – giving them the opportunity to rebuild their lives, gain new skills and get back on the straight and narrow.
The new jail is the latest major step in our commitment to building 20,000 new prison places and in turn protecting the public.
Prisons Minister Stuart Andrew said: “The new prison at Full Sutton will also support hundreds of jobs, in construction and afterwards, representing a major boost to Yorkshire’s economy.”
Group MD of Kier Construction Liam Cummins said: “Delivery of the new prison at Full Sutton represents over a decade of Kier operating as a successful partner to the Ministry of Justice and highlights our ongoing commitment to the New Prisons’ Programme.
“This project will create hundreds of jobs as well as providing opportunities for prisoners on release, and we’re proud to give people the opportunity to work with us to deliver a best-in-class facility built on modern methods of construction and engineering excellence.”
The new buildings will sit opposite the existing HMP Full Sutton and will be the third of six prisons to be completed as part of the New Prisons Programme, following HMP Five Wells and HMP Fosse Way in Glen Parva, which is due to open next year.
Locations for the remaining three are being finalised, and of the four final builds, one will be run by Her Majesty’s Prison and Probation Service and three by private operators.
The process of naming the new prison will be confirmed in due course and as with Five Wells and Fosse Way, will involve close consultation with the local community.
Around £4 billion of investment will create thousands of jobs for local communities and see millions invested in local roads and infrastructure while rehabilitating thousands of offenders and keeping the public safe.
Provident Financial Group announced as delivery partner for Bradford 2025
With no letting up in activity in Bradford following its momentous win of the UK City of Culture 2025 title, Bradford 2025 has welcomed Provident Financial Group (PFG) on board as its first official delivery partner.
Joining as a Major Partner, PFG has committed a substantial financial contribution towards Bradford 2025 over the next four years which will go towards the development of the district’s UK City of Culture programme, its delivery in 2025 and a legacy year in 2026 to develop and embed the social and infrastructural benefits that the UK City of Culture year will bring.
PFG’s sponsorship comes on the back of more than 35 businesses who backed Bradford’s campaign as bid partners over the last three years, helping the district create a winning bid and beat a record number of entries to be named the next UK City of Culture.
PFG is one of the oldest companies in the city, having been founded in Bradford in 1880 by insurance agent, Sir Joshua Waddilove. He started the company to address the problems faced by working class families struggling to pay for essential items and devised a voucher system that could be repaid in weekly instalments.
Over the last 140 years, the company has grown to become a specialist bank to those not served by mainstream lenders; providing credit cards, vehicle finance and loans through brands Vanquis and Moneybarn. Today, the FTSE 250 company employs more than 650 staff in Bradford and has around 1.8 million customers across the UK.
Winning the coveted title is a game-changer for Bradford, acting as a catalyst for significant long-term benefits including increased employment opportunities, new investment and enhanced skills. It is estimated that the UK City of Culture 2025 title could bring an extra £700m into Bradford district, creating 3,000 jobs and attracting around 1.1m visitors.
Rob Lawson, head of sustainability at PFG, said: “We’re proud of our strong history in Bradford and to see the district get recognition of this level on a national stage is just fantastic. We believe that supporting and nurturing young talent here is so important, especially as we try and recruit locally where possible.
“The UK City of Culture designation will bring the type of long-term investment that will make Bradford an even more attractive place to live and work, which is great for us as a major employer here. We fully appreciate the role that culture can play in levelling up our district, and we look forward to playing a part in helping to create the most incredible cultural programme and legacy for Bradford.”
Adds Shanaz Gulzar, chair of Bradford 2025: “We thrilled to announce PFG as our first delivery partner; the company has such strong roots here in Bradford and is passionate about championing all the positive changes the title will bring.
“I have no doubt that the incredible support we had from the business community across the district during the bidding campaign was a major factor in helping us to secure the title. We look forward to announcing many more partners over the coming months who will play a key part in helping us to deliver a City of Culture year like no other that could only happen here in Bradford.”
Government shares £37m amongst renewable energy projects
Innovative biomass projects from our region are amongst those today awarded a share in £37 million in funding, as the government drives forward its plan to scale up domestic renewable energy, including from biomass.
Amongst them are SeaGrown Limited in Scarborough, which is receiving over £2.8 million to develop new techniques to farm and harvest seaweed off the North Yorkshire coast, taking advantage of seaweed’s qualities as a source of biomass and its ability to remove carbon from the atmosphere.
Also the University of Leeds which is receiving £249,984 for their H2-Boost project, which aims to produce biohydrogen for the UK transport sector.
Energy Minister Greg Hands said:”Accelerating home-grown renewables like biomass is a key part of ending our dependency on expensive and volatile fossil fuels.
“This £37 million of government investment will support innovation across the UK, boosting jobs whilst ensuring greater energy security for years to come.”
Backed by the independent Climate Change Committee, biomass will form an important part of the UK’s future renewable energy mix, which will be vital for ensuring the UK’s energy security and reducing reliance on expensive fossil fuels. Through Phase 2 of the Biomass Feedstocks Innovation Programme, projects will be developed from the design stage, which was supported with £4 million government funding, into full demonstration projects, showcasing new methods to grow sustainable biomass materials, which can be used to produce low-carbon energy. The projects will boost biomass productivity in the UK, through breeding, planting, cultivating and harvesting of organic energy materials. The Hydrogen BECCS Innovation Programme supports the development of technologies to produce hydrogen generated via ‘BECCS’ (bioenergy with carbon capture and storage). BECCS technology can uniquely offer the ability to remove carbon dioxide from the atmosphere, as the CO2 absorbed during the growth of the sustainable biomass and the organic content found in waste can then be permanently removed from the atmosphere using carbon capture technologies. Hydrogen BECCS technologies will support the government’s plan to build a hydrogen economy, making hydrogen a clean fuel to use in hard-to-decarbonise sectors such as transport and heavy industry, while also removing greenhouse gases from the atmosphere. This government backing for innovation in biomass production will help support the government’s plans to scale up and accelerate clean, renewable energy in the UK, to protect the UK’s domestic energy security. Supporting trailblazing hydrogen BECCS technology will help further the government’s ambition to see hydrogen as the clean super-fuel of the future, while also encouraging green investment into the UK and supporting the creation of new jobs. Stuart Fitzgerald, Managing Director of White Horse Energy said: “White Horse Energy are delighted to proceed into Phase 2 of the Biomass Feedstocks Innovation Programme with our mobile pelletisation innovation. Our technology is going to revolutionise the production of low carbon, domestically produced energy for the UK market, and we can’t wait to get started!”L.B. Foster makes duo of acquisitions
L.B. Foster Company, a solutions provider of products and services for the rail and infrastructure markets with offices in Sheffield, has acquired Skratch Enterprises Ltd., a Telford-based digital solutions specialty company, and Intelligent Video Ltd. (IV) of Leamington Spa.
L.B. Foster designs, develops, manufactures, and installs a range of mobile, wireless, and digital customer information signage systems for use in railway stations and airports. Skratch, an industry leader in digital system integration within the UK, brings advanced digital display technology and capabilities to L.B. Foster that can be leveraged in both the rail space and adjacent retail markets.
L.B. Foster has collaborated with Skratch on digital solutions for the retail sector in the past, including the first digital signage application using British Sign Language interpreters in ASDA superstores.
IV is a developer of surveillance, security, and safety solutions. They have provided sub-contracting services for L.B. Foster’s Remote Condition Monitoring (RCM) and Inform Visual Communications solutions. IV also provides L.B. Foster with enhanced technical resources to assist in a variety of existing and developing solutions for the company.
John Kasel, president and Chief Executive Officer of L.B. Foster Company, said: “These acquisitions fit neatly into the growth strategy L.B. Foster announced in 2021. The accomplished team at Skratch delivers new learning, expertise, and experience that complements existing L.B. Foster growth businesses, and enables access to wider target markets in the UK and Europe. IV provides unique expertise and capabilities that help enable our aspiration to grow our technology-focused solutions offering.”
Skratch and IV collectively employ 38 people at their Telford and Leamington Spa offices. Both Skratch and IV will operate as standalone subsidiaries within the L.B. Foster group of companies.
Significant private equity investment into My Pension Expert completed following FCA approval
A significant private equity investment from Palatine Private Equity into My Pension Expert has been completed following approval from the Financial Conduct Authority (FCA).
The injection of capital will accelerate My Pension Expert’s growth plans as it aims to ensure people of all wealth brackets can receive independent financial advice and achieve their desired retirement outcomes.
Andrew Megson, executive chairman at Doncaster-based My Pension Expert, said: “We are delighted to conclude the investment by Palatine. It will enable My Pension Expert to further build on its success over recent years and fast-track our growth as we deliver much-needed independent financial advice to people across the UK. I believe this is fundamental to improving people’s financial security in their retirement.
“Palatine is the perfect partner to support this growth, and their strong Environmental, Social, and Governance credentials were a key factor in the decision to work with them. All the team at My Pension Expert are incredibly excited about building a fantastic future helping people to achieve their goals in retirement.”
Kieran Lawton, senior investment director at Palatine, added: “The My Pension Expert team have done an outstanding job to date, and we are very much looking forward to working alongside them to help the company grow quickly and reach its potential.
“The need for services and support like that provided by My Pension Expert has never been more important. Our focus will be on supporting Andrew and the team through value enhancement initiatives across digital, technology, people, and sustainability in order to help them continue to build a highly trusted and fast-growing pensions advisory business.”
My Pension Expert was advised by Park Palace Corporate Finance, Addleshaw Goddard, and BDO. Palatine was advised by Gateley Legal, Kroll, and RSM.
As part of the investment, My Money Expert also completed a debt refinancing with Beechbrook Capital. The new package from Beechbrook includes potential for additional funds to be made available to the business to facilitate further expansion in the future.
Beechbrook were advised by Pinsent Masons and My Pension Expert by Gateley Legal.
Financial Conduct Authority to open Leeds office in September with 100 new jobs
The Financial Conduct Authority (FCA) will be recruiting to fill more than 100 new roles based in Leeds.
The FCA is opening an office in the city later this year and has signed a deal for premises at 6 Queen Street in the heart of its business district.
The FCA’s Digital Delivery Centre will be based in Leeds alongside other key FCA business teams.
William Hague, director of Change and Transformation at the FCA, is leading the establishment of the office and Phil Nixon has been appointed as head of the Digital Delivery Centre.
Nikhil Rathi, Chief Executive of the FCA, said: “As a national regulator, it is vital we have a truly national footprint. That means having colleagues in all parts of the UK. I’m delighted that we’re moving a step closer to opening our new Leeds office, in a city with a growing reputation as a digital and tech hub.”
Councillor James Lewis, leader of Leeds City Council, said: “Leeds City Council has worked hard to ensure that Leeds is seen as an attractive destination for business and organisations, and it’s great to see that recognised as more organisations move into our city.
“The city has financial, digital and tech sectors that are strong and resilient, with a population that is innovative, diverse and brimming with talent. We look forward to welcoming the Financial Conduct Authority to the city.”
After Covid: Thieves make up for lost time with raids on farming industry
Initial indications from NFU Mutual’s 2022 Rural Crime Report reveal the first quarter of 2022 has seen thieves making up for lost time with costs more than 40% higher than the same period last year. The cost of rural theft was an estimated £40.5m across the UK last year with thieves targeting fuel, livestock and kit.
Well-organised criminals continued to plague farmyards stealing high-value farm machinery as the cost of agricultural vehicle theft reported to NFU Mutual remained at more than £9m last year.
NFU Vice President David Exwood said: “It is clear from the NFU Mutual’s report that farms are once again being heavily targeted by criminals after a short lull during the pandemic. With machinery and fuel theft on the rise, we urge the next Policing Minister to see the proposed Equipment Theft (Prevention) Bill through to fruition.
“Rural crime has huge financial implications for farm businesses and it also leaves farming families feeling vulnerable, intimidated, and in some cases directly threatened. This all comes at a time when the industry is already facing numerous other pressures, not least soaring production costs and challenging weather conditions.
“Taking a joined-up approach and establishing a cross-governmental task force – including Defra, the Home Office, the Ministry of Justice, the National Police Chiefs Council & the Association of Police & Crime Commissioners – will be crucial if we are to prevent further impacts from crime on farm businesses, both financially and emotionally.”
Rebecca Davidson, Rural Affairs Specialist at NFU Mutual, said: “Our latest claims figures warn that rural theft is quickly gathering momentum as criminals make up for time lost over the past two pandemic years. We’re advising rural people to review their security, to help prevent crime and disruption.
“With prices of essential farm equipment such as tractors and quads rising fast and the cost of diesel soaring over the past year, there’s little doubt that criminals will be trying to steal from farms. We also know that essentials of rural living like heating oil tanks will only become more attractive to thieves as costs rise. A recent poll by NFU Mutual reveals that 89% of respondents believe inflation will lead to an increase in rural crime.
“Crime in the countryside causes high levels of anxiety and disruption, with many farmers and rural homeowners feeling vulnerable due to their isolated location. The knowledge that determined thieves are scouring the countryside looking for targets and returning to carry out night-time raids can lead to sleepless nights for people in remote areas.”
Last year NFU Mutual invested £430,000 in rural crime initiatives. This includes support for an agricultural vehicle theft unit at the National Vehicle Crime Intelligence Service which recovered stolen vehicles and farm machinery worth £2.6m last year. The unit delivers intelligence, training, and works directly with police forces across the country to combat rural crime, in addition to joint international operations to seize stolen machinery from overseas.
