Leading accountancy practices merge
Streets Chartered Accountants, a top 40 UK accountancy practice, has announced the establishment of Streets Steele Chartered Certified Accountants following the merger of the award-winning Bristol practice, Steele Financial with Streets Chartered Accountants.
Ben Steele, now Managing Director of Streets Steele, said: “Having started Steele Financial only six years ago we have experienced significant growth and as such, in line with the advice we give our clients, we recognised the need to develop our practice to service growing demand.
“In particular it would seem our approach to run a true cloud based and digital accountancy practice along with providing clients a virtual finance office, certainly has made us an attractive proposition for many entrepreneurs and businesses alike.
“Recognising the potential, along with the need for us to provide a greater breadth of services, we sought to join up with a larger practice who can not only support us but also support the needs of our clients, now and in the future. We are delighted to say we have found that in Streets Chartered Accountants.
“We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services, including areas of specialist corporate and private client tax planning, international advice and personal financial planning.”
Looking at what the merger means to Streets, the firm’s managing partner, Paul Tutin, said: “We are delighted and excited to have Steele Financial become part of the Streets wide practice.
“Ben and his team, including fellow director Ryan Saward, are a truly inspiring practice and have earned an enviable reputation, not just in Bristol, but also in London and further afield, for their progressive approach and innovative use of technology to look after the needs of clients.
“Such an approach has seen them successfully grow a broad client base as well as particular sector specialisms in hospitality, food and drink and media and entertainment.
“We are looking forward to working with Ben and his team on enhancing and developing a practice wide virtual finance office and our respective sector specialisms.
“This recent merger comes on the back of an earlier one this year, with Streets Eadie Young in Banbury, Oxfordshire and this time last year Streets Whittles in Colchester, Essex. In line with our own growth aspirations, we also recently opened a new office in Burnley, Lancashire and are currently in talks with a number of practices around further mergers.
“With Streets Steele in Bristol, we now have 23 offices from Burnley in the north to Brighton in the south.
“Whilst many large firms have moved to more regional models, Streets remains committed to and focused on looking after clients that live, work and operate businesses in the local area. This approach is very much at the heart of our strategic focus for growth, which is likely to include further mergers of like-minded firms. Our aspiration is to become a top 20 UK practice by 2030.”
Multi-million pound Catterick Garrison project moves forward as plans lodged
A £21 million scheme to redevelop Catterick Garrison’s town centre has taken a major step forward.
The planning application for the development has been lodged with North Yorkshire Council. Permission is being sought to create a new town square on Shute Road, a new pedestrian ramp connecting the development to Richmond Road, and the construction of a Community and Enterprise Building.
The building, which will house offices for small businesses as well as space for community groups and food retail, will reduce carbon emissions through the use of sustainable design and renewable energy.
The plans also include landscaping improvements, upgrades to Coronation Park and Shute Road, improved play spaces, accessible routes to the town centre and improvements to footpaths and cycleways.
The application has been lodged following a public consultation in July when 72 per cent of the community who responded to a survey were positive about the new proposal.
Executive member for open to business, Cllr Derek Bastiman, said: “Moving to the planning phase is an exciting step forward for this new development. The scheme will breathe new life into a tired area of Catterick Garrison town centre and bring new opportunities and facilities for the many people who live there – both civilians and members of the military.”
North Yorkshire Council are working closely with the Ministry of Defence (MOD) to bring the proposals to fruition by June 2025. The council has received £19 million from the Levelling Up Fund, with the remaining match-funding coming from the Defence Infrastructure Organisation (DIO) and the authority.
James Roy, estates manager for the Defence Infrastructure Organisation, said: “Catterick is an important Garrison for the British Army and this is a significant milestone for the redevelopment proposals. We continue to recognise the need for regeneration of urban areas, to benefit both military and civilian communities.”
Catterick Garrison is home to one of the largest Army bases in the country with the town centre transformation bringing benefits to Armed Forces personnel and their families.
Planning application submitted for major village extension
An outline planning application for the development of a landmark sustainable community to the south west of Selby has been submitted to North Yorkshire Council for consideration.
Banks Property is looking to create an integrated extension to the village of Eggborough, which would offer new low carbon homes, enhanced local transport links, a new primary school and nursery, assisted living units, new areas of accessible public open space, other local services and a range of environmental benefits.
The family firm launched the Eggborough project at the beginning of the year, and has since undertaken a range of pre-application consultation activities across the local community, including two events at which members of the Banks project team answered queries and listened to ideas about their proposals from local residents and businesses.
After factoring this local feedback into its proposals, the project team has now finalised and put forward its outline planning submission, with further community consultation activities currently being planned for the coming months.
The Eggborough development, which is being developed in line with the emerging Selby Local Plan, would see up to 1,500 energy efficient properties of all types being built on a 70-hectare site to the west of the village.
It would be close to the growing Core 62 and Konect 62 employment hubs, thus providing new housing options for people and businesses looking to move to the area, and would include the creation of a network of high quality, green open spaces with a variety of wildlife habitats within the site.
Banks is also looking at options for improving levels of rail and bus connectivity in the area which would complement the existing local road infrastructure.
Around 295 full-time jobs would be supported on the Eggborough site during its construction period, with a further 370 jobs being indirectly supported through substantial investment in the regional supply chain.
Jamilah Hassan, community relations manager at the Banks Group, says: “This site is included in the draft Selby Local Plan as a housing-led location and offers the opportunity to create a landmark development that will help Eggborough continue to thrive for decades to come.
“We’ve worked hard to share as much information as possible about our ideas across local communities over the last few months and we’re grateful to all those who’ve taken the time to speak to our team about them.
“Increasing the local and regional supply of quality housing will help to attract people to live and work here, which will in turn support the development of the local economy, while ensuring there is affordable quality housing will also mean that everyone can access the housing ladder, most especially local younger people and families who want to move to or stay in the area.
“We are looking to create a high quality, well-connected and sustainable extension to Eggborough which will deliver a wide range of benefits to the local community, the local economy and the local environment, and will continue to work with local residents, businesses and community leaders in the coming months as the project progresses.”
Private equity fund chooses Leeds-based cloud service provider for debut investment
Private equity fund, Kingland Capital has made its first investment into Dynamic Networks to support its organic and acquisitive expansion.
Kingland Capital, founded by experienced mid-market investor Paul Landsman in 2023, has supported a management buyout at the Leeds-based company. Led by David Smith and Gareth Leece the deal aims to create one of the fastest growing SME-focused cloud managed service providers in the UK.
Eddie Buxton, former CEO of Maintel plc, the AIM-listed cloud and managed service provider, will be joining as chairman. As part of this MBO, Hay Wain Group – a private family office – have invested alongside Kingland Capital.
Dynamic Networks, founded by James Baird and Gareth Leece, delivers cloud-led managed IT support, digital transformation services, cyber security and connectivity to the SME market. Dynamic Networks has delivered impressive organic growth with revenue CAGR of +40% between 2021-2023.
Kingland Capital is a private equity firm investing in the UK with equity cheques of up to £20m. Kingland looks for markets that support companies that can scale, with high levels of recurring revenue, in high growth sub-sectors where there is an opportunity to grow both organically and through acquisition.
David Smith, CEO of Dynamic Networks and leading the MBO, said: “Dynamic Networks has spent the last couple of years investing in their people, systems, processes and product portfolio and this investment will allow us to support the demanding needs of SMEs. I’m excited that this investment will underpin our plans to continue to grow both organically and through acquisition.”
Paul Landsman, founder of Kingland Capital, said: “We are thrilled to be backing Dave and his management team, together with Eddie in one of the best quality cloud managed services businesses in the UK we have seen.
“We look forward to helping Dave and the team develop the business organically and through complementary acquisitions over the next few years. We at Kingland, couldn’t be prouder to have Dynamic Networks as our first investment.”
Big Motoring World drives expansion with Available Car acquisition
Big Motoring World has agreed to acquire certain trade and assets of Midlands and Yorkshire used-car retailer, Available Car.
This acquisition follows Big Motoring World’s recent expansion into Wimbledon and adds 200 employees and a seventh and eighth location in Leeds and Cannock.
Founder and Chief Executive Peter Waddell said: “The news today highlights the next milestone in our nationwide expansion. We have a well-proven omnichannel technology-first business model that’s proved to be sustainable even in tough trading conditions.
“We look forward to bringing our car buying experience to the people of Yorkshire and the West Midlands as we continue to grow our business nationally. Available Car’s family-owned heritage, focus on high quality service, and large, well-located sites are an ideal foundation for our platform.”
Alpha Instrumatics sold to global group of life-saving technology companies
Alpha Instrumatics, a Bradford-based designer and manufacturer of devices for high-precision measurement of moisture found in gases, has been sold to Halma, a global group of life-saving technology companies.
Alpha Instrumatics’ advanced trace moisture analysis enables safer industrial operations, more efficient hydrocarbon transfer, and more accurate detection of pollutants. The group’s devices are used in growth markets including the industrial gas and aerospace markets, as well as aligned to the energy transition.
Hami Patel of Alpha Instrumatics said: “We are thrilled to become a part of Halma.
“Alpha Instrumatics has an ambitious growth strategy and the investment from Halma will help accelerate growth by providing broader market reach through their adjacent end markets.”
The transaction was led by Provantage Corporate Finance who advised the shareholders of Alpha Instrumatics – Amanda Betts and Lorna Marshall supported by David Browne.
Amanda Betts of Provantage said: “It’s been a pleasure to work alongside the shareholders’ of Alpha Instrumatics on this important transaction.
“Halma Plc is a fitting home for what is a truly exciting business, and we look forward to seeing the continued success that Alpha Instrumatics and Halma Plc will experience in the future through bringing these companies together.”
Hami Patel of Alpha Instrumatics added: “We extend our gratitude to the Provantage team for their dedication and efforts throughout this acquisition process; their expertise and hard work were instrumental in making this acquisition a reality.”
New improvement and compliance manager will lay firm foundations at Priestley Construction
Teagan Hudson has been promoted to improvement and compliance manager, which is a newly created role at contractor Priestley Construction.
Teagan will be responsible for updating and revising the company’s processes and systems to ensure they are as efficient and effective as possible. She will also oversee staff training and provide inductions to new recruits spanning Priestley’s procedures and policies.
In addition, she will manage the implementation of new IT solutions and software, as well as providing relevant training, to streamline how the company stores, accesses, monitors and distributes information internally and externally.
She will also explore and implement new standards from the International Organization for Standardization (ISO) that could benefit the company. Teagan joined Priestley Construction almost 18 months ago as a buyer and estimator.
Teagan said: “The construction industry is evolving fast, and companies must be as proficient and capable as possible in today’s market in order to be successful and genuinely add value to their clients and projects. This role is all about identifying and implementing potential improvements in a wide range of areas to make Preistley Construction even better at what it does.
“It feels very rewarding that the directors have created this new role and given me this opportunity to drive so many positive changes forward.”
Nathan Priestley, founder and CEO of the Priestley Group, said: “Teagan boasts a wealth of analytical skills and when this is combined with her superb attention to detail and overall knowledge of the construction industry, there’s no doubt this is a role that she’ll thrive in.
“We’ve shaped the job around her specific skillsets, and she will now be responsible for promoting, improving, updating, revising and monitoring all of our operational and commercial processes, with the overall aim of driving continuous improvement across our business. This makes it an exciting opportunity for both Teagan and Priestley Construction alike.”
Alternative finance provider moves to larger Leeds offices
Carter Towler has negotiated a 10 year lease deal on behalf of Reward Finance Group. Following 12 years of rapid continuous growth across the UK, the alternative finance provider has moved into larger offices at 12 King Street, Leeds.
Carter Towler director Richard Fraser said: “This has been a great deal to be involved with. It’s exciting to be able to assist a progressive Leeds-based company by facilitating its continued growth in this way.
“This is one of the highest quality office buildings in Leeds city centre with fantastic onsite amenities. I am sure that both Reward and its clients will benefit from all this exceptional property has to offer.”
Reward has taken 3,934 sq ft on the first floor of 12 King Street. The entire building has been extensively refurbished over the past 18 months with other new occupiers including Rothschild & Co and Endless.
Tom Flannery, non-executive chairman of Reward Investments Ltd, added: “We are extremely pleased to have secured these great new offices, they are so much more than a traditional office space.
“The developers, Opus North and Fiera Real Estate UK, had a vision to create something very different in Leeds and they have certainly achieved it. They have delivered a transformational working environment that meets the needs of a modern business like ours.
“We have much more flexible work and collaboration spaces and more wellbeing and networking facilities for our employees and clients to enjoy.”
Ryan Unsworth, Joint Managing Director of Opus North, said: “We are delighted to welcome Reward to 12 King Street. They are exactly the kind of innovative, achieving business we had in mind when we set about remodelling the property. We wish them all the very best with their continued growth.”
14,000 sq ft pre-let for Leeds’ City Square House
Barnett Waddingham, a professional services consultancy focussing on risk, pensions, investment and insurance, is taking 14,000 sq ft of prime office space at developer MRP’s City Square House in Leeds on a 15-year lease.
This is the one of the most significant pre-let office deals in the city during the past 12 months. It was brokered by the Leeds office of global property consultancy Knight Frank.
Barnett Waddingham, who are relocating from within Leeds, are paying £37 per sq ft with a 10-year break on the 15-year lease.
City Square House is a 140,000 sq ft speculative development and the only remaining undeveloped property fronting City Square.
The workspace will comprise Grade A office accommodation over 12-storeys including low carbon credentials, terraces on the 4th, 5th and 6th levels and extensive cycling, electric vehicle and e-bike charging point facilities.
Practical completion of this building, built by Design & Build contractors McAleer & Rushe, is scheduled for early next year.
Barnett Waddingham will be joining global law firm DLA and Markel, an SME-focused expert in providing integrated insurance, tax and legal services, in the building. Together, these two companies have taken a combined total of 103,000 sq ft.
Angus Monteith, development director at MRP, said: “We are delighted to welcome a company with such an excellent reputation as Barnett Waddingham to City Square House. This latest signing means the development is now 85% pre-let with a final 22,000 sq ft available.
“Securing a 15-year pre-let deal is a very significant and positive statement of intent in the long-term future prosperity of office space in Leeds and, indeed, in urban centres throughout the UK. As we near completion of construction in early 2024, we expect this strong demand for the best workspace will continue.”
Eamon Fox, partner and head of office agency at global property consultancy Knight Frank in Leeds, advised the landlord.
“The Barnett Waddingham deal completes a magnificent hat-trick of high calibre companies moving into City Square House. City Square House is the iconic new office development that the Leeds market has been waiting for.
“It is in a prime position, just off City Square and next to Leeds Station, and the remaining available space of 22,000 sq ft will help to address the pressing need for quality Grade A office space in the city centre.
“This is a significant deal for the city of Leeds, a vote of confidence in the city and its economy. Amidst this challenging economic climate, this is just the boost the whole region needed and a genuine cause to be optimistic about the commercial property sector in Yorkshire.
“The regeneration of the city centre of Leeds is now paying dividends for the city’s economy and reputation and City Square House, so brilliantly developed speculatively by MRP, is a shining example of what can be achieved with vision and courage.”
Earlier this year, Tom Riordan, Leeds City Council’s Chief Executive, said: “It’s brilliant to see the progress being made on City Square House which is one of the most prominent locations in Leeds city centre. Further investment into commercial space, record cranes on our skyline and the growing appeal of Leeds to global businesses, shows how our great city is really continuing to thrive economically.”
Oh yes it is! Lindum works flat out to make sure Peterborough panto can go ahead
Lincoln’s Lindum Group employees have been working 12-hour shifts alongside subcontract scaffolders and carpenters to get Peterborough’s Key Theatre ready for its busy panto season after the discovery of Reinforced Autoclaved Aerated Concrete in the building.
Lindum has been onsite since Monday, October 9th – just two weeks after receiving a call for help from Peterborough City Council.
So far 500 scaffolding boards, 2,640 metres of timber, 2,200 metal clips and 37,000 nails have been used to install specially-designed roof supports. The hand-painted timber frames provide additional support the 200 RAAC panels above.
Site manager Paul Anniss said a project of this scale would usually take twice as long but that efforts were being accelerated so the Christmas showing of Aladdin could open as planned on Saturday, December 2nd.
He said: “We are pleased to be able to help and are really grateful to our own workforce and our subcontractors who have worked quickly to get the project mobilised,” he said.
“Because Lindum employs many of its own construction staff, we were able to assemble a team quickly by reorganising staffing on other projects. We are operating split shifts, meaning we have people on site from 7am to 7pm every day.
“The first week involved installation of the scaffolding to create a 20 ft-high platform for the team to work on. Subcontractors XL Scaffolding Ltd have created an impressive structure spanning the entire auditorium, across all the seats, the orchestra pit and the stage.
“They had to navigate the theatre’s stage lighting rigs and all the power cables that run through the building. The amount they’ve used would be the equivalent to scaffolding 10 two storey houses and they even had to order in new boards especially for the project.
“Once this was in place, the team from Vangard Carpentry Ltd began their work, using 550 lengths of timber to build a frame to attach to the roof’s steel beams.
“Each timber beam is 4.8m long and is being painted black on every edge in a cabin outside the theatre’s stage doors. Once he’s finished, the decorator from Expressions Decor Ltd will have painted a total linear length of 10,560 metres of wood – equivalent to 6 and a half miles or 115 football pitches!”
He added: “Work is going well, and we are on track to finish on time. If all continues to go to plan, I will be first in the queue to buy panto tickets!”
