Largest floor snapped up at 10 South Parade in Leeds
IDHL, the digital marketing agency, has almost doubled its office space in 10SP at South Parade in Leeds.
Having occupied 5,600 sq ft on the ground floor since 2019, IDHL is now relocating to the entire first floor of 10SP at South Parade, occupying 9,600 sq ft on a new 10-year lease. The suite has been fitted out to the highest quality in a contemporary design by IDHL’s contractor TSK.
The bespoke office has 100 desks and has been designed with collaboration at its heart. Features include communal space for breakouts, refreshments, social connections and celebrations; ten meeting rooms, including a training facility and theatre style space; podcast room; phone booths; business lounge and client meeting suite.
Those based in Leeds also have access to amenities such as lockable bike storage, club quality changing facilities and electric car charging.
Ben Wood, CEO at IDHL, said: “We’re making significant investments in our IDHL offices across the UK this year, as part of our mission to provide the very best working environments for our 400-strong workforce.
“The move to our new 10,000 sq ft Leeds office marks a really exciting moment for our business, as we continue to focus on attracting and retaining the very best digital talent alongside delivering best-in-class service for clients.
“Fitted out with the very best technology, it offers a state-of-the-art environment to support our hybrid working approach. Leeds is our busiest office, located on the doorstep of many of the city’s professional and financial business and in close range to exceptional amenities, so it’s a pivotal moment for IDHL.
“We recognise that people want to work flexibly and also have the chance to work in a relaxed workspace. The move has been well received and we look forward to seeing it continue to thrive as a popular location. Our thanks to TSK and Wilton Developments for their support.”
Wilton Developments extensively redeveloped the original building in 2010, on behalf of the owners East Parade Limited. Existing tenants in the building include Armstrong Watson, DB3 Architecture, Odgers Berndtson and SCP.
Jason Stowe, managing director of Wilton Development, said: “10SP remains one of the most populated buildings within our office portfolio. We have sought to constantly evolve the building to meet the changing needs of occupiers, and we are particularly pleased that we were able to work with the team at IDHL to facilitate its next stage of growth in Leeds.”
Hannah Snell, account director at TSK, said: “It’s been a pleasure collaborating with IDHL to design and deliver their state-of-the-art, people-focused Leeds office. The goal was to create a destination workplace that prioritises the experience of both their employees and visitors, enhancing their ability to attract and retain top talent and clients.
“This office, which unites all their brands under one roof, plays a key role in defining their current business identity. As Leeds serves as their central hub, it was essential to design a space with diverse work settings to foster effective collaboration and offer flexibility for future needs. We’ve loved being an extension of the IDHL team, and look forward to working with them in the future.”
The Leeds offices of CBRE and Knight Frank acted on behalf of the building’s owner, East Parade Limited, with Fox Lloyd Jones representing IDHL in the letting.
Clair McGowan from CBRE said: “It’s been great to work with the team in getting this deal over the line. Retaining IDHL as an occupier is testament to the quality of the office space on offer at 10 South Parade. The building is centrally located with amenities on your doorstep. Watch this space for further building updates.”
Lupton Fawcett’s Sheffield team moves to the heart of the city
Yorkshire law firm Lupton Fawcett has moved its Sheffield team to a new space in the city centre.
The firm is now based in the Cubo building on Carver Street – in the Heart of the City development.
Lupton Fawcett’s Sheffield-based employees moved from their previous base on Bank Street at the end of last week and started September in their new location.
James Richardson, managing partner, said: “Our move to the vibrant and modern Cubo Sheffield marks an exciting new chapter for the firm in the city.
“Cubo offers a great workspace designed to foster collaboration, creativity and productivity. The serviced offices will allow greater flexibility, and we are in a better location for colleagues and clients.”
Partner Sarah Sargent, who heads up the firm’s Sheffield office and its residential property team, said: “The team are very excited to be in our new space and are looking forward to welcoming all our clients – old and new! Our new home will certainly help us push forward in the Sheffield legal world.”
Cubo is a flexible, shared working space and Lupton Fawcett has a private office within the building. Benefits for the team and visitors include a roof terrace and onsite barista.
The office, which offers space for further growth, will run on a fluid hotdesking system and people from the other Lupton Fawcett offices will also be able to work there.
Prime Leeds office rents continue to break all records
The prime rent for Grade A office space in Leeds continues to break all records, according to global property consultancy Knight Frank.
In Knight Frank’s latest research, it is revealed that city centre rents have increased by three per cent over the past 12 months to £38 per sq ft. Significantly, prime office rents have risen by 19 per cent since the onset of the Covid pandemic.
Overall take-up of office space reached 349,332 sq ft in the first six months of 2024, buoyed by a particularly strong first quarter of this year. Underpinning occupier demand was the finance, banking, insurance and professional services sectors, which accounted for half of total office space leased this year.
However, the largest occupier deal to complete was the 43,713 sq ft letting of Joseph’s Well to Leeds Teaching Hospitals NHS Trust.
Eamon Fox, partner and head of development at the Leeds office of Knight Frank, explained: “With strong occupier demand and supply-squeezed market, forecasts indicate that prime rents will reach £40.00 per sq ft by the end of 2024.
“We have several transactions agreed and progressing through legals at £39 psf, with £40 psf being the next milestone. The market is such that transactions are no longer rent sensitive, but amenity and quality is scrutinised more than ever by our occupier customers. When we get this right, we see growth in rents.”
He explained: “Grade A availability fell to 192,841 sq ft at the mid-year point, a figure 18% below that in the first six months of last year 2023 and 28 per cent lower than the 10-year average for Leeds. The total market vacancy rose marginally to 6.8 per cent, from 6.3 per cent recorded at the equivalent period last year.
“There is now 428,489 sq ft of speculative office space under construction across seven buildings in the city. Comprising both brand-new builds and comprehensive refurbishments, delivery is scheduled throughout the rest of 2024 and during 2025-2026.”
Meanwhile investment volumes totalled £24.75m between January and the end of June this year. Comprising four major deals, the total is 25 per cent higher than in the first half of 2023. The largest deal was 7 Park Row, which was bought by financial services firm Firefly Capital Limited for £8.35m. Prime yields remained stable at seven per cent.
According to Knight Frank’s report, the strong occupier market will mean that investors remain largely bullish on Leeds offices. With prime office yields unlikely to soften further, although secondary yields are more difficult to predict, it appears they have reached a level at which investors are more comfortable to deploy capital, all of which is hoped to foster market activity for the rest of this year.
The report concluded: “A clear election result brought much-needed political stability, whilst the ONS confirmed that the UK recorded positive economic growth in Q1. Inflation is also seemingly under control, which has allowed for the first interest rate cut since 2020 and improved the likelihood of further cuts ahead. Moving forward, each of these will support the desired stable backdrop for businesses and consequently, commercial property activity in the latter half of 2024.”
South Yorkshire reflects on a year of progress in tackling skills challenges
The last year has seen significant improvement in efforts to overcome South Yorkshire’s pressing skills challenges, according to a new report on the subject.
Taking stock of the most notable developments from the past twelve months, the South Yorkshire LSIP Progress Report assesses how far our region has come since the publishing of its Local Skills Improvement Plan in August 2023, and also considers what interventions should be prioritised next.
Chief Execs for the Doncaster, Sheffield and Barnsley & Rotherham Chambers of Commerce, who led the LSIP’s development, issued the following joint statement:
“It is incredibly heartening to see just how much has been accomplished over the past year as we have moved from the insight-gathering stage of the project into real, tangible delivery. From our perspective we have been very busy trying to get the ball rolling with a number of interventions that we think will make a big impact in the region, but we are pleased that our partners have taken the recommendations to heart as well; spearheading some big changes of their own.
“As detailed in the progress report, notable milestones to date include the introduction of Knowledge and Skills Exchange Sessions — bimonthly teach-ins, run by the Chambers, that are designed to give business advisors a comprehensive understanding of our skills ecosystem— an ambitious new South Yorkshire Skills Strategy — that is itself closely aligned with the LSIP — and the enormously successful South Yorkshire Apprenticeship Hub — a freely available service that was pitched in our plan and is now helping businesses access promising talent on their doorstep.
“Meanwhile, we are pleased to reveal that a number of exciting developments are currently in the pipeline relating to things like: improving digital literacy across our region; addressing longstanding trainer shortages; and equipping middle managers with the skills they need to do their jobs more effectively. Work is well underway in regards to each of these and we cannot wait to see the benefits they will yield for South Yorkshire, its business communities and its residents once they are fully realised
“Finally, the report also gives an exciting indication of where we might be heading next. Suggested priorities that are high up on the list include: creating better pathways for veterans, ex-offenders, older workers and others who are further from the labour market; extending career advice services; and improving work readiness. Suffice it to say, we are eager for the region to get tackling these and are hopeful that we will be able to sustain the momentum that has gotten us this far.”
South Yorkshire was one of 38 areas across the country to produce an LSIP last year. Funded by the Department for Education — and informed by extensive consultation with businesses, colleges, private training providers and various other stakeholders — each document explored how productivity levels could be bolstered within the region in question, and made a series of practical recommendations for partners to follow.
Specifically, the plans focussed on identifying any improvements that could be made to the relevant skills system, to help it better meet the needs of local businesses and to equip residents with the expertise that is most coveted by employers. For example, the South Yorkshire LSIP looked at what more could be done to nurture a tech-savvy workforce in the region, by placing an emphasis on digital skills provision.
With twelve months having now elapsed— and a lot of great activity taking place in that timespan— it is safe to say that South Yorkshire has come a long way since its LSIP was published, and many of the associated recommendations have already been brought to life. Which is why a new report has just been released: summarising all of the progress to date; highlighting the biggest achievements from the past year; giving an update on all work that is currently ongoing; and outlining some emerging priorities for the future of the LSIP project.
The Rt Hon Baroness Smith of Malvern, Minister of State for Skills, added: “I welcome the publication of the Local Skills Improvement Plan Progress Report for South Yorkshire.
“These reports set out progress made on meeting the skills needs of local employers. As well as being a valuable source of information for local skills deliverers, employers and stakeholders, the reports along with the LSIPs themselves, will provide important intelligence for the newly established Skills England.”
Yorkshire Water aims to replace 1.3m water meters starting next year
Yorkshire Water is to work with Netmore and Morrison Water Services to exchange 1.3 million existing water meters with smart meters.
The meter exchange programme is expected to begin in South Yorkshire in 2025, subject to Ofwat’s final determination, due in December.
The company says smart meters will also improve leakage detection, benefit customers by providing accurate billing, and create a better understanding of water usage across the region.
Adam Smith, manager of smart networks and metering transformation at Yorkshire Water, said: “By moving to smart meters we can better understand water demand patterns and target water efficiency activity.
“Smart metering provides greater insight into customer water use and helps ensure all customers are on the best tariff available to them, enhancing the ability to provide more regular and accurate water billing.
“Since the smart meter programme launched in 2022, we have been able to save 500,000 litres of water, just by identifying leakage on customers’ pipes. The expansion of the project will enable us to continue making these improvements and ultimately provide customers with a better experience.”
Netmore has been selected as the lead partner to deliver the programme, including the installation, commissioning and maintenance of connected smart meters. Morrison Water Services will work closely with Netmore and customers to deliver the exchange.
Vadim Lyu, MD UK at Netmore Group, said: “We are honoured to have been selected by Yorkshire Water and are committed meeting the strict requirements to deliver smart metering data that will improve their operational performance, deliver better environmental outcomes, and support regulatory compliance.”
Lee Wood, area director at Morrison Water Services, said: “This is a fantastic opportunity to bring Morrison Water Services’ smart metering capabilities to the region.”
Property consultancy secures major five-year management contract
Property consultancy Fisher German has been appointed to deliver rural property management services to the Church Commissioners for England, the body which administers the property assets of the Church of England and one of the country’s largest landowners.
The five-year contract will see colleagues at Fisher German’s offices in Doncaster, Chester, Ashby, Worcester, and Bedford manage a significant area of rural land and property across England, including across the North and Midlands.
Experts will also provide advice across a variety of specialisms including planning, development, investment, building consultancy, environmental and sustainability, and telecoms.
Fisher German is one of just two consultancies to be awarded a contract to deliver property management services for the Church Commissioners’ farmland portfolio after a competitive tender process.
Fisher German partner Rebecca Ruck-Keene, who is leading on the contract, said: “We are extremely pleased to be awarded this contract by the Church Commissioners for England.
“It is a significant five-year contract which really demonstrates the strength of our rural property team as well as the depth and breadth of the services that we can deliver in-house at Fisher German across a wide geographical spread.
“The Church Commissioners is a charitable organisation which has strong values and is focused on providing high-quality assets for tenants, and they were looking to award this contract to a consultancy which shares those values and maintains a high professional standard.
“It was a competitive tender process, so this news firmly cements us as one of the top multi-disciplinary property consultancies in the UK.”
Joanna Loxton, Head of Land at the Church Commissioners for England, said: “Our two managing agents will work closely with our asset managers and farming tenants to support sustainable farming businesses and food production across our nationwide portfolio of farm holdings.
“We look forward to collaborating with the Fisher German team to continue and grow our programme of tenant engagement and long-term stewardship across our portfolio.”
Ciara Williams, Head of Farmland at the Church Commissioners for England, said: “Regular engagement to understand the individual needs of our farming tenants is a major focus for the Church Commissioners.
“We always strive to share best practice in land management and conservation, and in Fisher German, we have a partner that shares our values of sustainability, collaboration and long-term stewardship.”
Former North Yorkshire care home could be converted to apartments
Plans have been submitted to convert a former care home into apartments to help meet demand for affordable homes in Leyburn in North Yorkshire.
Brierley Homes has joined forces with Broadacres Housing Association to draw up plans for Brentwood Lodge, a former local authority facility.
The scheme proposes creating 24 affordable apartments built to meet the Government’s Future Homes Standard.
Brierley Homes’ MD Stuart Ede, said: “Getting a foot on the housing ladder can be difficult, if not impossible, for some people. Schemes like the one we are developing with Broadacres Housing Association are one way of creating homes people can afford. This scheme offers housing that is future-proofed and fit for modern living, offering people in the local area a high-quality home.”
Broadacres’ director of development and investment Helen Fielding said: “We are pleased to be once again working with Brierley Homes to bring more, much-needed affordable homes to this part of rural North Yorkshire.
“The homes will be made available to local people, with the aim of ensuring that rural communities like Leyburn continue to remain sustainable for those who live and work in this beautiful market town.”
Yorkshire Building Society commits to three years’ support for City of Culture
Yorkshire Building Society is to work with work with the Bradford 2025 UK City of Culture programme for three years to help support its aim of increasing employment opportunities and skills across the district.
The sponsorship is part of the Society’s ongoing investment into Bradford. Since 2022 the mutual has supported over 2,200 individuals through programmes that help improve employability and skills in communities across the district. Most recently, its Charitable Foundation announced the Building Bradford Skills fund which will provide £1million in grants to improve employability in Bradford’s most deprived areas.
Susan Allen, Chief Exec of Yorkshire Building Society said: “As a mutual, we are committed to the communities we support and, as one of the oldest organisations in Bradford, Yorkshire Building Society is proud to support Bradford 2025 UK City of Culture.
“We’re committed to investing in Bradford, our heartland, to improve skills, employability, and ultimately financial wellbeing for all our communities and the City of Culture will bring opportunity, pride, and optimism to the area.
“The City of Culture will not only celebrate what a uniquely vibrant, young and diverse city Bradford is, but also bring inward investment which will boost the local economy, create opportunities for people within our community to learn new skills and create a more prosperous future.”
Dan Bates, Executive Director, Bradford 2025 said: “I’m thrilled to announce our partnership with Yorkshire Building Society, a Bradford-based organisation that works nationally, that shares our commitment to creating meaningful opportunities for young people across the UK.
“As we approach Bradford 2025, this partnership will play a pivotal role in ensuring that the next generation not only experiences the transformative power of culture but also sees it as a pathway to their future. Together, we’re not just planning a year of events; we’re opening doors for young people across our city and the UK, inspiring them to dream big and realise that their future can be built right here in Bradford.”
UK leads the way in fusion energy powerplant design, says Royal Society
The UK is leading the way in fusion energy powerplant design, says the Royal Society.
Papers just published are the first peer-review demonstrating technical progress to deliver STEP, the UK’s first prototype fusion energy powerplant, at West Burton near Gainsborough.
STEP (‘Spherical Tokamak for Energy Production’) aims to pave the way for the commercial viability of fusion by demonstrating net energy, fuel self-sufficiency and a viable route to plant maintenance. By doing so, it stimulates the development of a new industry, positioning the UK at the forefront commercially.
The programme is taking a holistic approach to delivering a fully operational prototype plant that also considers decommissioning as part of the design.
STEP will be built at the former coal-fired power station site of West Burton, where characterisation works surveying ground and environment are well underway. First operations are expected in the early 2040s.
Paul Methven, CEO, UK Industrial Fusion Solutions, a subsidiary of UKAEA Group that will be responsible for the delivery of STEP, said: “STEP is a UK-led national endeavour, for the world. It’s about unlocking the potential of cutting-edge science and technology that could revolutionise humanity’s future and, for the UK, secure a leading position in a new strategic technology. We don’t yet have all the answers, but we are a trailblazer in fusion powerplant design, built on a solid foundation of decades of innovative and world-leading fusion research at the United Kingdom Atomic Energy Authority (UKAEA).
“This Royal Society publication is a snapshot in time – the design will continue to evolve as we identify new challenges, learn and develop – and already the team has an impressive ability to find a way through the toughest problems.”
UK steelmakers pay 50% more than French for electricity, says new report
A new report for UK Steel today reveals a sizeable gap between the prices paid for electricity by UK steelmakers and their European competitors.
The trade body’s report also sets out three recommendations to bring electricity prices in line with European counterparts. As the steel industry is aiming to electrify through investment in new additional electric arc furnaces, electricity prices become even more crucial to the industry’s competitiveness, profitability, and future success.
Steel production is incredibly electro-intensive, and power charges are one of the largest barriers to sustainable steelmaking in the UK. With proposed steel industry switches to electric arc furnaces, it is expected the sector’s electricity consumption will roughly double.
The report finds that UK steel producers pay up to 50% more than competitors in France and Germany, adding £37m to UK steel electricity costs. The price disparity is predominantly driven by higher UK wholesale costs and partly greater network charges.
UK Steel makes three recommendations to cut prices:
1. Compensate industry for 90% of its network charges, matching French/German support levels
2. Undertake wholesale market reforms and discount locational pricing models
3. Track industrial energy price disparities between countries
UK Steel Director General Gareth Stace said: “This new Government has already set out its willingness to deliver for the steel industry, and it now has the opportunity to bring industrial electricity prices in line with our competitors. “For too long, the UK steel industry has been crippled by high industrial electricity prices, placing a heavy burden on the industry’s competitiveness, profitability, and ability to invest in future growth.
“The average price faced by UK steelmakers for 2024/25 is £66 per MWh compared to the French price of £43/MWh and the German £50/MWh. That’s a price gap of up to £22/MWh, meaning we pay £37-50 million more for our electricity this year than our European competitors.
“Steel is integral to the new Government’s ambitions for the UK, from the renewable energy rollout through GB Energy to infrastructure developments and increased housebuilding, which all require and rely on steel. Lower power prices are crucial to unlocking the success of the UK Steel industry, enabling steel to be the backbone of a strong and thriving British economy.”
Allan Bell, British Steel’s Chief Commercial and Procurement Officer, said: “The new government is well-briefed on the challenges our business faces, including high electricity prices. We look forward to working with them to build a clean, green, and sustainable future for British Steel.”
