NSM moves into new Yorkshire office as team grows
Commercial property and asset management company, NSM, has expanded into a new office at Doncaster International Business Park to facilitate continued business growth.
NSM has also appointed three new members to the team. Lydia Harris, joins as office manager in Doncaster, Kim Howey as the new property manager for the North West and Caitlin Davies joins the team on a work placement while studying for her Real Estate Management degree at the University of Leeds. Doncaster-based Vicky Benson has also been promoted to property manager for the East.
As a result of the business success, NSM has expanded into Jetstream Drive at the Doncaster International Business Park, Auckley, attracted by the sustainability credentials of this new development and its easy location onto the M1, M18 and A1 network.
Nicky Jones, Managing Director of Doncaster-based NSM, said: “Our business has remained agile during the challenges faced over the last couple of years. With an increasing demand for industrial and logistics space we have worked hard to complete new deals in as little as five days, as well as assisting tenants with additional short-term space to meet demand.
“We have a strong business model and, due to our investment in proptech, our Spaceman platform has given every member of the team the ability to work from anywhere, with the team being able to access all portfolio data at the touch of a button. This has ensured we continue to effectively look after and strengthen our client’s portfolios.
“Despite the fact we could all work from home, or from any of our sites, we have an incredibly strong team ethos and everyone was keen to still be able to work together within an office environment whilst retaining some flexibility. Jetstream Drive provides a great central base, a fantastic airy and well-lit space and room for further expansion helping us to future-proof.”
NSM manages 5.4 million sq ft of industrial and office space on behalf of landlords across the north of England. Its current portfolio under management has grown to £475 million so far this year. The company’s clients have included the likes of ARA Europe, 4th Industrial (part of TPG Real Estate), Mileway and Network Space.
The company is also working with investment partners to identify opportunities to acquire and manage a portfolio of multi-let industrial sites.
NSM has continued to collect over 98% of all rents billed despite the lockdown and worked closely with tenants to provide support and advice about Government initiatives as well as managing staged payments during the challenges posed by the pandemic.
Looking forward to the coming year, Nicky added: “We have continued to grow the assets we manage across the north of England and will now use our experience to work with partners to acquire further multi-let industrial sites into the portfolio.”
Construction complete on new multi-million gene therapy innovation centre in Sheffield
The construction of a pioneering gene therapy innovation centre in Sheffield is now complete. The centre is set to advance scientific discoveries into promising treatment options for millions of patients with life-threatening diseases.
Gene therapy is a promising treatment option for more than 7,000 rare diseases that are currently without a cure. The new University of Sheffield Gene Therapy Innovation and Manufacturing Centre (GTIMC) aims to treat these conditions by engineering another gene to replace, silence or manipulate the faulty one.
The state-of-the-art centre will bring together academic institutions, NHS trusts, non-profit and industry partners across the north of England, Midlands and Wales enabling academic-led clinical trials of novel gene therapies. The GTIMC will deliver essential translational and regulatory support alongside extensive training and skills programmes to enable upskilling and address shortage of skills in Good Manufacturing Practice (GMP) manufacturing.
The GTIMC is one of three pioneering hubs in a new £18 million network funded by LifeArc and the Medical Research Council (MRC), with support from the Biotechnology Sciences Research Council (BBSRC).
Professor Mimoun Azzouz, director of the GTIMC and chair of Translational Neuroscience at the University of Sheffield, said: “Sheffield is internationally renowned for its world-class rare diseases research. This centre will help to accelerate this revolutionary research into promising and innovative treatment options for many rare diseases which currently have no cure.
“Sheffield has emerged as one of the leading players in cell and gene therapy and this national network of partners, facilities and training programmes will allow us to stay at the cutting edge of translational discoveries for new and potentially life changing treatments.
“Seeing the construction work completed is an exciting milestone for the team. It brings us closer to being fully operational and able to progress new and exciting discoveries which will benefit patients and families worldwide. Our focus now is to secure MHRA GMP licensing.”
Alongside the national network funding from LifeArc, the MRC and BBSRC, as well as support from the South Yorkshire Mayoral Combined Authority, the GTIMC was made possible thanks to a £3 million donation from The Law Family Charitable Foundation, established by Andrew Law and his wife Zoë. This funding was part of a record £5.85 million donation from the University of Sheffield alumnus, which will also see the launch of a new student support programme.
Andrew Law, chairman and CEO of Caxton Associates, said: “The University of Sheffield is rapidly developing a global reputation in gene therapy. The new Gene Therapy Innovation and Manufacturing Centre will drive innovation and world-class research, while presenting a real opportunity to catalyse the creation of new start-up companies to facilitate commercialisation in the North.
“This investment will enhance vital partnerships with biotechnology and pharmaceutical companies to help accelerate gene therapy programmes and clinical trials, at the same time as supporting regional economic growth and job creation.”
It is expected the GTIMC will be open and fully operational in early 2023. The centre will include a cutting-edge GMP (good manufacturing practice) facility that will support gene therapy projects emerging from universities across the UK.
The facility will utilise highly efficient processes to manufacture clinical grade adeno-associated viruses (AAV) and provide all the necessary quality assurance, regulatory certification and governance for human trials at Advanced Therapies Treatment Centres and NHS trusts within the GTIMC and the national network.
The three national hubs, located at the University of Sheffield, King’s College London, and NHS Blood and Transplant in Bristol will operate as a coordinated network, sharing technical skills and resources to enable innovative gene therapy research.
Dr Melanie Lee, CEO of LifeArc, said: “Recent innovations in gene therapies hold enormous potential for treating conditions such as rare diseases, but often promising ideas – particularly in academia – are not making it through to patients. Through our collaboration, we aim to meet the need for researchers to have access to the essential facilities and translational advice to progress promising research.”
The GTIMC will manufacture commonly used vectors including both lentivirus and adeno-associated virus that are needed for genetic therapy trials, while positioning the UK for significant bioprocessing innovation work with the potential to radically increase yields and reduce productivity barriers in future years. The hub network will also design and share commercially ready platforms, using common cell-lines, plasmids and reagents to reduce costs, facilitate simplified licensing agreements and streamline regulatory reviews. A key aim is to smooth the transition between small-scale supply for early clinical trials through to larger-scale manufacture for patient trials, and beyond.
Professor John Iredale, MRC’s interim executive chair, said: “The network of Innovation Hubs for Gene Therapies will build on the UK’s great strengths in this area, providing targeted investment in vital infrastructure to accelerate academic research programmes down the path to patient benefit, supporting the delivery of a new wave of genetic medicines.”
Work underway for Leeds Beckett University multi-million refurbishment of Leeds Law School
Leeds Law School at Leeds Beckett University is moving to an improved location in Queen Square, Leeds City Centre, to expand their facilities and further strengthen the School’s position as a leading educator of future legal professionals.
Leeds Beckett University is working with Tilbury Douglas to deliver this multi-million project for Leeds Law School. The construction costs are expected to reach £3 million.
Specialist teaching spaces such as the Harvard-style lecture theatre, courtroom and immersive learning suite will give students the opportunity to develop critical thinking, advocacy skills and a deeper level of legal knowledge. Dedicated quiet spaces and access to vast online resources will allow post-graduate students and colleagues to excel in their delivery of ground-breaking legal research.
Professor Deveral Capps, Dean of Leeds Law School, said: “The Law School has grown considerably in recent years, and we’ve now reached a level where we want to give our students and staff a real sense of place, and for them to have somewhere amazing they can call home. This huge investment means we will have one of the most modern law school buildings in the country, which fills me with great pride.
“I’m incredibly excited to open the doors to our new Law School in time for us to celebrate the school’s centenary. We’ve been teaching law at Leeds Law School since 1924 and settling into such modern, state-of-the-art facilities by 2024 gives us a sense of great achievement and opportunity for our students and staff.”
The new Law School building will reflect the growing partnerships of the university with the region and further strengthen Leeds’ position as the legal capital of the North. Leeds Beckett University places huge importance on its role as an Anchor institution in Leeds and the wider region, maximising the benefit its presence delivers to local communities.
Leeds Law School is a key educator of legal professionals in the Leeds and West Yorkshire region and works extensively with law firms and other businesses to support students with work placements and employers to hire talented graduates that will energise their team and support the local community.
Work on the school’s refurbishment is expected to start in September 2022 and be finalised a year later, just in time for the start of the academic year 2023-2024. Once complete, Queen Square House will provide the Law School with a strong identity and sense of community, allowing students to thrive in an environment which has been specifically designed to support their needs so they can achieve their full potential.
Planning application submitted for new South Yorkshire solar energy park
A planning application for an innovative new renewable energy generation and storage project to the east of Sheffield has been submitted to Rotherham Council.
Independent renewable energy firm Banks Renewables is looking to create a new solar energy park at a 116-hectare site to the west of the Todwick Road Industrial Estate in Dinnington, around three miles to the east of Banks’ Penny Hill wind farm.
The Common Farm Solar project would have an installed capacity of up to 50MW, which would be enough to meet the annual electricity requirements of up to 18,800 family homes and would displace over 11,470 tonnes of carbon dioxide from the electricity supply network each year.
The planning application is expected to come before Rotherham Council’s planning committee before the end of the year.
A battery electricity storage system linking directly into the Thurcroft electricity sub-station around three kilometres to the north of the site forms part of the project, which will help support the long-term security of energy supplies to UK consumers.
As part of Banks’ policy of delivering tangible benefits to the places in which its operations are based, the Common Farm Solar Park would deliver an annual package of community benefits totalling £50,000 or more than £2,000,000 through its lifetime to support local community projects.
A detailed ecology and biodiversity strategy which will ensure the site delivers a net benefit in biodiversity to the local community also forms part of the scheme.
The ground around and beneath the solar panels will be used to create a wildflower meadow and there will be increased planting of hedgerows, while part of the site will also be managed to encouraged Lapwings to thrive.
Banks Renewables is one of the leading owner/operators in the UK’s onshore wind sector and has four operational sites across Yorkshire.
The Penny Hill Wind Farm, the Hook Moor Wind Farm to the east of Leeds, the Marr Wind Farm to the west of Doncaster and the Hazlehead Wind Farm near Barnsley generated almost 89,000 MWh of electricity between them during the company’s last financial year, as well as over £50,000 in total for their respective community benefits funds.
Penny Hill Wind Farm’s community benefits fund has supported a wide range of community projects over the last nine years, with over £202,000 being directed into it since the wind farm began generating electricity in 2013 and grants totalling more than £140,000 awarded to local organisations.
Lewis Stokes, senior community relations manager at The Banks Group, says: “The initial response we’ve had to our ideas from local people and community leaders has generally been positive and we’re grateful to all those who’ve taken the time to share their thoughts, questions and comments so far.
“Maximising the production of renewable energy from domestic sources is a crucial part of the UK’s ongoing journey towards its Net Zero targets, especially within the current energy security climate.
“The Common Farm solar scheme will extend the contribution that we’re able to make locally towards reaching these goals while also increasing the tangible benefits that we can deliver to local communities through the benefits package that will form a key part of the project.
“We’re excited at what can be achieved through this important project and hope that Rotherham Council’s planning committee will support our vision for delivering it.”
Another record breaking half year for UK logistics take up with Yorkshire and NE capturing significant share
The latest research from global real estate advisor, CBRE, shows that take-up of UK logistics space climbed to new highs of 22.56m sq ft in H1 2022, representing an increase of 10% compared to H1 2021, which saw take-up total 20.5m sq ft. Yorkshire & North East remain at the forefront of the take-up capturing a 16.8% share.
Yorkshire & North East saw a significant increase in take-up in Q2, increasing almost seven times QoQ, reaching 3.4m sq ft. This was predominantly due to the completion of two large Build-to-suit deals totalling 3.1m sq ft. Take-up in H1 was widespread with the West Midlands capturing the largest share at 21.9%, closely followed by East Midlands, North West and Yorkshire & North East.
Availability in the region was down to 1.6m sq ft at the end of Q2, a drop of 33% QoQ, with 51% of space comprising speculative units under construction. Big box prime rents remained stable at £7.75 psf, with prime yields moving out 25 bps to 3.90%.
As well as achieving record-breaking take-up volumes, the first half of the year has also seen the UK vacancy rate drop to a new low of just 1.18%, showing the acute lack of available stock in the market. Yorkshire & North East was the only region whose vacancy rate increased in Q2 moving to 1.07%, albeit still below the UK average.
Across the UK, a total of 80 deals completed in the first half of the year, mirroring that of H1 2021. However, 64 different occupiers took logistics space in H1 2022 compared to 53 for the same period last year, showing a wider mix of occupiers securing units.
Whilst the number of deals completed has remained consistent with the same period last year, there has been a significant shift in take-up levels by sector. For H1 2022, third-party logistics accounted for the largest percentage of take-up at 27.6%. Manufacturing accounted for 15%, followed by online retail at 13.6%. This is a large decrease when compared with the first half of 2021, which saw online retail account for 42% of take-up, demonstrating that the reduction of online demand has not impacted overall take-up volumes.
In an attempt to accommodate the ongoing levels of demand, build-to-suit accounted for almost half of total take-up for H1 2022 at 46.9%. Speculative followed at 33.3%, with secondhand accounting for the remaining 19.8%.
Mike Baugh, senior director at CBRE Leeds, said: “We are pleased to see Yorkshire and North East remain at the forefront of the UK logistics take-up for H1 with the region seeing a significant increase in take-up in Q2. The increased take up during this quarter reflects the strong pipeline of deals coming to fruition, despite a quieter Q1. Furthermore, the long-term supply forecast remains positive with circa 15M sq ft coming to the Yorkshire market over the next few years.”
Paul Farrow, head of UK logistics at CBRE, said: “Over the last two years, online retail has been the dominant force behind the rising demand for logistics space as a result of the recent e-commerce boom. However, the pendulum has swung and the shift in both occupier type and regional spread of take-up shows the true depth of the UK logistics market.”
Annabel Nash, senior analyst, UK logistics research at CBRE, added: “This is the fifth quarter in a row in which take-up has exceeded 10m sq ft, showing the fundamentals of the sector remain strong. The current availability of built vacant units represents just 47 days of supply and with the UK vacancy rate continuing to fall, we anticipate further upward pressure on rental levels.”
Yorkshire businesses target growth as confidence dips
Business confidence in Yorkshire fell 13 points during July to 14%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported lower confidence in their own business prospects month-on-month, down 13 points to 21%. When taken alongside their optimism in the economy, down 15 points to 6%, this gives a headline confidence reading of 14%.
Despite another dip in confidence, Yorkshire firms identified their top target areas for growth in the next six months as evolving their product or service offering (37%), investing in sustainability (24%) and diversifying into new markets (24%).
The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 12% of businesses in the region expect to increase staff levels over the next year, down 28 points on last month – the biggest drop of any UK region or nation.
Overall UK business confidence fell three points during July to 25%. Firms’ outlook on their future trading prospects was up, three points to 37%, but their optimism in the wider economy dropped nine points to 12%. The net balance of businesses planning to create new jobs also decreased, seven points to 21%.
Every UK region and nation reported a positive confidence reading in July, with four out of 11 recording a higher reading than last month. The East of England (up 15 points to 46%), West Midlands (up eight points to 38%) and Wales (up seven points to 30%) saw the biggest increases month-on-month, with the East of England now the most optimistic region overall.
Steve Harris, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “The ongoing economic turbulence is continuing to affect Yorkshire businesses of all sizes. But despite a fourth consecutive monthly dip, it’s encouraging that firms’ confidence remains in positive territory and that their focus is still on finding opportunities to grow.
“It’s particularly encouraging to see that a quarter of businesses are looking to invest in sustainability. We know that the green pound is more valuable than ever, and that customers are willing to spend more with brands that demonstrate strong environmental credentials. Not only is it good for the planet, but it will be good for firms’ prospects as they navigate the challenges of the coming months.”
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “Business confidence declined this month, suggesting that economic headwinds are becoming more forceful. Despite this, firms’ assessment of their own trading prospects showed some resilience in the face of a challenging environment. Meanwhile, price pressures have shown no clear signs of a downward trend and there appears little sign yet that wage pressures are abating.”
Business confidence declined across all four of the sectors in July, reflecting lower optimism about the economy. Confidence within manufacturing declined the most this month (20%/-12), with firms citing moderating trading prospects and a notable drop in economic optimism, but also issues with inflation and supply bottlenecks. There were small falls in confidence for construction (28%/-2), retail (25%/-6) and services (24%/-1).
Proposals for 137 sustainable apartments revealed for York
A consultation is being launched for a new sustainable development of single-family rental apartments, including nine fully accessible homes, at Monks Cross in York.
The proposal includes 137 new homes located at Kathryn Avenue in Monks Cross, next to the York Community Stadium. The site also includes 27 car parking spaces and 139 cycle storage spaces.
With a strong focus on ESG, the design, build and operations of the site will promote sustainable spaces to enjoy, including a programme of tree planting and green spaces, and improves biodiversity by introducing native species of planting, bird and bat boxes, bee bricks and wildflower areas.
Nine specialist accessibly designed apartments are included in the proposals to meet the needs of people living with disabilities.
The homes will be designed, built and operated by ‘Casa by Moda’ for the long term.
‘Casa by Moda’ is part of Moda Living, one of the country’s largest purpose-built rental operators. Moda is currently redeveloping a further 400+ homes elsewhere in the city at Heworth Green.
A wellbeing offering will be boosted by access to a range of public, private and semi-private amenity spaces in and around the neighbourhood, including roof terraces, a landscaped central garden, communal lounge and meeting areas to promote flexible working spaces and resident engagement.
All homes will also be fitted with smart technology sensors which monitor the energy consumption and sustainability performance of the buildings.
As a long-term operator in the Monks Cross area, Casa by Moda is to partner with local businesses and educational organisations to support the economy, education and employment priorities.
The regeneration in and around Monks Cross over the last few years has increased employment and demand for new homes nearby. The site, currently occupied by York Motorsports Village, will be closed, providing an opportunity to redevelop the area and address the housing shortage.
Rob Gill, director of acquisitions at Casa by Moda, said: “As a long-term operator of the homes we deliver, Casa by Moda is committed to working with the local community as we look to transform this brownfield site into much-needed modern homes for rent in York.
“Subject to planning permission, this neighbourhood will deliver a new generation of rental homes to Monks Cross, that put resident experience, health and wellbeing, sustainability and technology at their heart.”
Richard France, Managing Director of Oakgate Group, said: “These proposals offer a new concept to York of high-quality and accessible build-to-rent accommodation in a highly sustainable location.
“Kathryn Avenue adjoins first class amenities including retail, gym, cinema, restaurants and other leisure facilities together with an excellent Park & Ride service into the City Centre. This site is the perfect location for the Casa brand.”
Transformation on the cards for landmark Leeds office building
A planning application has been submitted to rejuvenate a landmark office building in Leeds City Centre, to give it a sustainable future.
Palace Capital plc has put forward plans to transform Bank House on King Street, upgrading the existing office space and adding a complementary three storey extension to the top of the iconic building.
Once completed, over 110,000 sq ft (net) of carbon neutral office space will be created. The formation of a new eight storey atrium is central to the proposals and is intended to be a dramatic circulation space at the building’s heart.
The existing building is let on short term leases, but the building will not meet new and emerging Government sustainable regulations in the future if no changes are made. The proposals will transform the building into an exemplar development and is set to attain sustainable standards beyond Leeds City Council policy requirements and achieve BREEAM Outstanding and EPC A ratings. Reaching this EPC A Rating would put the revamped Bank House in the top 3 per cent of commercial buildings in the UK.
The embodied carbon assessments, submitted as part of the planning application, shows a 7,884-tonne operational saving over a 25-year period and an overall saving of 1,690 tonnes, when embodied carbon from the proposed works is taken into consideration.
Bank House was purpose built for the Bank of England between 1969-1971 and was given Grade II listed status in 2015.
Architect Fuse Studios has redesigned the building to create a more active street frontage and a rooftop extension which complements the existing building’s striking façades. There has been constructive pre-application consultation with Leeds City Council and Historic England.
Richard Starr, executive property director of Palace Capital plc, said: “We are very excited to be able to transform this iconic building and make it fit for the future, whilst retaining and safeguarding the key elements that make it a Leeds City Centre landmark.
“Our objective is to create Grade A office space and continue the ongoing renaissance of the City Centre by targeting a range of occupiers that demand the highest standards in sustainability and working environment.”
CP Media appoints trio of new directors
Outdoor advertising specialist CP Media has appointed three new directors as it prepares for its next phase of growth.
Rachel Davies, Ed Armstrong and Richard Eccles join the CP Media board following a 40 per cent increase in group revenues to £6.8m in the 2021 financial year.
CP Media has offices in Halifax and Harrogate and more than 40 employees. In 2019, CP Media acquired Eye Airports, a leader in UK regional airport advertising with rights for 19 regional airports.
Rachel Davies heads up Eye Airports, while Ed Armstrong heads up CP Media’s group marketing department and Richard Eccles is the group chief operating officer.
Mike Brennan, CEO at CP Media, said: “Rachel is the most experienced and successful regional airport advertising manager in the UK. Her promotion to the main board will strengthen both the company and the management.
“Ed has been with us for many years and now runs one of the most successful marketing departments in our industry.
“Richard has done outstanding work for the entire group over the last 10 years and thoroughly deserves this promotion. He has been my successful number two almost since the beginning and we wouldn’t be here without him. He is a vital part of our future growth.”
TC Group merges with Leeds practice, Murray Harcourt
TC Group, the accountants and tax advisers, is continuing its growth following a merger with Leeds-based practice, Murray Harcourt.
TC Group has seen considerable growth over the last few years with offices across the South East, South West, Midlands, East Yorkshire, and now West Yorkshire.
Murray Harcourt provides accountancy, audit, tax and corporate finance services, specialising in owner-managed and family businesses, as well as corporate and public sector organisations.
The partners at Murray Harcourt collectively said: “Having just celebrated our 10th anniversary we see the merger with TC Group as the next step in our evolution.
“TC Group will give us access to a considerable amount of resource with an international reach whilst local management being able to retain control. We see this as the best of both worlds.”
TC CEO Richard Keyes said: “TC is delighted to have merged with Murray Harcourt. They have a fantastic reputation and share our views on client care and quality of advice.
“This deal also expands both firms capabilities and we can now offer a fuller range of services to our combined client base, we are very excited and looking forward to a prosperous future together.”
