Senior associate Deirdre Lindsay has joined Clarion’s 52-strong real estate practice as it continues to expand.
Having spent the last six years at a national listed law firm, working as part of its residential development team, Deirdre further strengthens the Yorkshire firm’s offering. She has experience of advising housebuilders, landowners and developers, large and small, across Yorkshire and nationally. Her expertise includes advising clients on strategic land acquisitions, conditional contracts and she acts on sales to affordable housing providers.
Deirdre has also gained general commercial real estate experience and has advised clients on landlord and tenant matters.
Lindsay Texel, partner, who leads Clarion’s residential development team, said: “We already have a strong reputation inresidential development and have been looking for the right person to grow the team and enable us to support continuing client demand. With her excellent track record in this field, Deirdre is a great fit, giving us additional resource at a senior level.”
Deirdre said: “Having gained a solid grounding in residential development work, I was really looking for something a little different and wanted to move to a firm with a collaborative approach. Not only does Clarion have one of the largest and most respected real estate practices in Yorkshire, but it has a really positive culture where people are genuinely valued and go out of their way to support one another.”
Clarion’s 52-strong real estate team, which includes six partners, provides a full range of property expertise from development, investment, asset management, corporate occupier work through to retail, leisure and secured lending.
Fall sees target to halve inflation met
The rate of inflation fell sharply to 4.6% in the 12 months to October, the lowest rate in two years, achieving the Government’s pledge to halve inflation by the end of the year.
Largely due to a drop in energy prices, it follows sticky figures last month where inflation failed to drop as expected, making for an annual rate of 6.7%.
Meanwhile core inflation, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, though falling is still stubbornly high at 5.7% for the 12 months to October, down from 6.1% in September.
Alpesh Paleja, CBI lead economist, said: “A big drop in inflation was always expected in October, with last year’s energy price cap rise falling out of the annual comparison. But even taking this into account, inflation is heading in the right direction and the Government’s pledge to halve inflation by the end of the year has been met.
“Inflation should continue to fall in the months ahead. But the decline is set to be slow, and the CPI rate is likely to remain above the Bank of England’s target for much of next year. It’s worth noting that domestic price pressures remain sticky, and uncertainty over labour market data makes it difficult to gauge how much this is adding to inflationary pressure.
“Nonetheless, we’ve likely reached the peak of rising interest rates, and many are expecting the Bank of England to cut rates at some point next year. But with inflation set to fall slowly and the Bank of England being clear in their ‘higher for longer’ message, businesses and consumers shouldn’t expect a significant reduction in rates anytime soon.”
Hospitals Trust gets £250k to enhance heating systems
Hull University Teaching Hospitals NHS Trust has been awarded more than a quarter of a million pounds to improve heating systems at its hospitals.
The Trust is among several organisations to successfully bid for a share of £13.9m from the second round of funding from the Heat Network Efficiency Scheme (HNES). The £251,381 Government grant will enable the Trust to undertake critical upgrades to its heating infrastructure which will not only enhance patient experience but improve energy efficiency and reduce carbon emissions. At Castle Hill Hospital, the allocated funding will be channeled towards a comprehensive overhaul of the heat network, some parts of which are more than 35 years old. The plans include the installation of advanced monitoring and management controls, the replacement and enhancement of insulation, and the introduction of additional meters and heat exchangers. Hull Royal Infirmary will undergo similar improvements to its heating network which dates back to 1973, including an upgrade of the control system and replacement of insulation. By modernising this infrastructure, the Trust which will fund part of upgrade, aims to improve the energy efficiency of both hospitals and reduce wastage.Funding boost for new train station in Bradford
Rail passengers in Bradford will be connected to more jobs, education and business opportunities, thanks to the government’s commitment to deliver a new train station in the city.
The plan was first revealed last month as part of the government’s launch of Network North – a £36 billion long-term plan to improve the country’s transport across roads, buses and railways.
Today (14 November 2023), the Department for Transport is building on its promise of building a brand-new railway station in Bradford by providing £400,000 for the local authority to kickstart master planning on the project.
The work will consider how the new station can best support regeneration in the surrounding area and maximise its potential to create new homes, jobs and local economic growth – as well as significantly improving transport links and cutting journey times.
Once complete, the findings will form part of a wider business case for the project which will include details on the proposed location and delivery date for the station.
Rail Minister, Huw Merriman, said: “I have championed the case for a new railway station in Bradford for a long time and the funding announced today will make this commitment one step closer to becoming a reality.
“Bradford is soon to become the UK’s ‘City of Culture’ and our scheme to deliver a brand new station and railway line will help attract tourism, unlock access to neighbouring cities and provide the area with the huge regeneration opportunities it deserves to boost connectivity and economic growth.”
The station will be delivered as part of the government’s Network North pledge to connect major cities in the North of England with more frequent trains, increased capacity and faster journeys. On top of the £400,000 announced today for regeneration plans in the city, a total of £2 billion will be invested to build the station and a new line to deliver a significantly faster, 30-minute journey to Manchester via Huddersfield. Councillor Susan Hinchcliffe, leader of Bradford Council, said: “It is good to see this moving forward, everyone has worked so hard for so long to get this progressed. Improving connectivity for Bradford to the rest of the North is so important to enable greater investment, jobs and opportunities. There can be no successful North without Bradford being successful.”SMEs in Hull and the East Riding to benefit from expert support
Small and medium-sized enterprises (SMEs) in Hull and the East Riding will soon be able to benefit from expert, tailored support thanks to over half a million pounds worth of funding secured by Hull & East Yorkshire Local Enterprise Partnership (HEY LEP).
The government’s Department for Culture, Media and Sport (DCMS) has awarded £520,000 to HEY LEP to deliver the Create Growth Programme (CGP).
The CGP will provide ‘scale up’ support to high-growth potential SMEs from the creative industries and help them to grow by becoming more investment ready.
Eligible business will be able to access free, fully-funded expert advice, workshops, mentoring and peer-development sessions, as well as access to a funding programme managed by Innovate UK.
The programme will formally launch in February 2024, with SMEs able to access support from 1 April 2024.
James Newman OBE, HEY LEP chair, said: “I am delighted that Hull and East Yorkshire has been successful in this highly competitive round of specialist support for our creative industry SMEs.
“The HEY Create Growth Programme led by the LEP, in partnership with both local authorities and the University of Hull, will ensure that the programme once launched in April 2024 is a great success.”
The programme aligns with HEY LEP’s Economic Growth and Workforce Wellbeing Strategy 2021-2026 which states that the digital and creative sectors are priority sectors for the onward growth and development of the Hull and East Yorkshire economy.
HEY LEP will deliver the CGP in partnership with Hull City Council, East Riding of Yorkshire Council and University of Hull.
Cllr Paul Drake-Davis, Hull City Council’s portfolio holder for regeneration, said: “It is fantastic that HEY LEP has received such a boost from DCMS. The CGP is a brilliant project which will support the local economy.”
Councillor Nick Coultish, East Riding of Yorkshire Council’s cabinet member for culture, leisure and tourism, said: “This funding for the Create Growth Programme is great news for our creative sectors. It will help local SMEs grow and contribute significantly to our regional economy in such a diverse cultural sector.”
Professor Darren Mundy, Dean of the Faculty of Arts, Cultures and Education at University of Hull added: “We are delighted to be a partner in this project.
“It provides an outstanding opportunity to scale up creative sector businesses across Hull and the East Riding, enhancing the career opportunities for our students, graduates and alumni, whilst also generating further opportunities for engagement with our creative practitioners.”
Significant new hire as Smart Repairs drives forward expansion
Smart Repairs, the independent cosmetic vehicle repairer, has made a significant new appointment as it expands throughout the UK.
The Leeds company, based in Weaver Street in Burley, has hired Kaylie Skitt as senior financial controller.
Kaylie arrives at Smart Repairs from Pendragon, where she was leader of the finance team for Mercedes, Porsche and Aston Martin. She previously worked for Mercedes Benz in Bradford and JCT600 in Leeds.
Darryl Short, Managing Director of Smart Repairs, said: “As we continue to grow as a business, it’s right we also strengthen our leadership team to ensure that we provide the best service levels to our customers.
“Kaylie’s wide experience in the automotive sector made her the perfect person to support us going into 2024. Her ability to understand the specific needs of our customers and bring the support our existing management team require made her our number one candidate.
“We now feel ready to take on the challenges for continued expansion next year and going forward from there. Stability and long-term commitment within our leadership team is key to delivering this growth.”
Bradford-born Kaylie, who was educated at Buttershaw High School and Bradford College, explained: “The rate at which this company is growing is phenomenal and I am proud to be joining a friendly, hard-working and successful team. Smart Repairs has established itself as a major force within the cosmetic repair industry across the UK and I look forward to playing an important role in maintaining and increasing this growth.”
Key partner hire for Andrew Jackson Solicitors’ corporate team
Susie Mortonson has joined Andrew Jackson Solicitors LLP’s corporate team as a partner.
A well-respected and familiar lawyer in the North Yorkshire region, Susie brings 16 years’ experience to her new role.
She advises many different businesses across a broad range of sectors on mergers and acquisitions, joint ventures and investments, management buy-outs and buy-ins, shareholder agreements, group reorganisations, corporate governance, partnerships and commercial contracts.
Susie also has specialist expertise in working with clients operating in the agriculture sector and advises a wide range of farming businesses on the different issues they face.
Susie previously worked as partner and head of department at another regional law firm where she led on a number of high-profile transactions including the purchase of Dusk bar for Fabler Bars; the sale of Scarborough-based TEF Transport group; and the sale of Dean Court Hotel in York.
Susie also brings with her the benefit of long-standing and continued relationships with a large number of regional businesses.
Susie, who is also vice-chair of York Professionals and acts as honorary solicitor and trustee to various regional charities, said: “I’m excited to join Andrew Jackson. Championing local businesses and helping them to flourish is really important to me, so I’m delighted to join a team that’s committed to providing an outstanding client service, which has their best interests at heart.”
Philip Ashworth, corporate partner at Andrew Jackson, added: “We are delighted to welcome Susie to Andrew Jackson. She is a fantastic addition to our team; her pragmatic yet commercial approach, combined with her enthusiasm, expertise, and technical insight, means that clients are in the very best of hands.”
Contracts exchanged with Siemens for 94,841 sq ft unit in Goole
Trebor Developments and Hillwood have exchanged contracts with Siemens to pre let a 94,841 sq ft unit in Goole.
The scheme had been marketed as ‘Point 36 Goole’ and Trebor secured detailed planning consent for the proposed unit, before entering into discussions with Siemens.
The unit is located adjacent to Junction 36 of the M62 Motorway and opposite Siemens state-of-the-art rail facility that finished construction earlier in 2023.
Point 36 is part of a huge investment in Goole in recent years, including Siemens’ £200m Rail Village and more recently Metsa Tissues’ new facility on 200 acres that benefits from Freeport Tax Site Status.
GMI Construction have been appointed as Main Contractor and started on site in November, targeting practical completion in summer 2024.
Greg Dalton, development director for Trebor, said: “We’re delighted to have agreed terms with a fantastic occupier at Point 36, our next project in Yorkshire, and achieve another major milestone in appointing the Main Contractor.
“Siemens were an obvious customer for us, and we’ve worked closely with them to ensure the unit satisfies their operation needs as well as to ensure that it can be delivered by next summer at their request. We look forward to delivering the scheme.”
Sambit Banerjee, European CEO for Siemens, said: “This is a further expansion and investment into our Rail Village at Goole. Our partnership with Trebor and GMI Construction continues to embed our commitment to a local supply chain and supporting the economy.
“Bringing together our warehouse capabilities in one location serving our depots in the north, and another at Kettering for the south, allows us to focus on ensuring our depots can deliver the best service for the trains maintenance keeping availability and reliability at the forefront of what we do.”
Point 36 was jointly marketed by Gent Visick and Holder & Co on behalf of Trebor and Hillwood. Colliers acted on behalf of Siemens.
Hat-trick of international awards for Yorkshire Property Group
A Yorkshire headquartered property group, that was established 11 years ago, has won a trio of coveted awards at the International Property Awards in London.
Priestley Homes won the best residential development award in Cheshire for The Paddocks in Knutsford. It also won the best residential renovation development award in West Yorkshire for its development, Cliff Oaks in Leeds.
The group’s construction division, Priestley Construction, also got in on the action winning the best new small hotel construction and design award in Cheshire for The Old Post Office in Warrington, which was delivered on behalf of its client, Deuce Hotels.
The International Property Awards celebrate the highest levels of achievement by companies operating in all sectors of the property and real estate industry. A world-renowned mark of excellence, the awards are open to both residential and commercial property businesses from across the globe.
Nathan Priestley, founder and CEO of Priestley Group, said: “These three projects are all very different. From the creation of new build grand-design style homes at The Paddocks, through to the careful restoration and development of a former private estate and the painstaking renovation of a historic former Post Office, to create what has become an award-winning hotel.
“What all three had in common, was our dedicated and professional approach to getting the job done, overcoming many challenges, and ensuring we kept to the very highest of standards. We are very proud of what we achieved, but to also receive third party endorsement from the International Property Awards panel, is massively rewarding.”
Yorkshire sees greatest fall in insolvency-related activity across the UK in October
Despite ongoing challenges to the UK economy, in October Yorkshire and the Humber put in the strongest performance of all of the regions and nations, seeing a double-digit fall in insolvency-related activity since the previous month.
The latest research from insolvency and restructuring trade body R3, which is based on an analysis of data provided by CreditSafe, shows that in Yorkshire and the Humber insolvency-related activity (which includes liquidator and administrator appointments and creditors’ meetings) fell by 18.9% last month. The number of businesses affected in the region dropped from 291 in September to 236, the lowest number since May.
In October, six other regions and nations also saw a drop in insolvency-related activity since September with Northern Ireland falling by 10%, Wales by 6.5% and the South East by 3.7%. In contrast, the North East experienced a month-on-month rise of 26.8%, followed by Scotland with an uplift of 10.2% and the North West with an increase of 8%.
Looking at the number of start-ups, another key indicator of economic health, Yorkshire and the Humber again performed well with an increase of 14.3% since September, with only Greater London seeing a greater rise in levels of new businesses (up by 15.1%). The poorest performances were from Wales (-0.4%), and from Scotland and the West Midlands (both up by around 6%).
Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “Despite gloomy forecasts for the UK economy, this month’s research does appear to show a glimmer of light at the end of the tunnel. Although growth is expected to be slow into 2024, interest rates appear to be reaching their potential peak and businesses are fighting hard against the current challenges.
“It is encouraging to not only see Yorkshire and the Humber having the greatest month-on-month fall in insolvency-related activity in October, but also that a total of seven of the 12 regions and nations surveyed also experienced a drop in these type of financial problems. The increase in levels of entrepreneurs starting new businesses both here and across the UK is also a positive sign.
“However, higher interest rates and inflation are likely to continue to impact both corporate investment and consumer spending, and the forthcoming election will also add to business uncertainty. In the midst of such a fragile economic outlook, directors would be well advised to remain cautious and seek professional advice at the first sign of financial difficulties.”
