Over £15m secured for Heart of Holbeck proposals

Tess Egginton
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Over £15m secured for Heart of Holbeck proposals
Leeds City Council’s plans for the regeneration of Holbeck have been allocated more than £15 million, as part of the latest round of investment from the government’s Levelling Up Fund.
The ‘Heart of Holbeck’ plans will deliver transformative change through the renewal of the local high street, transformation of the local community centre and the delivery of improvements to traditional terraced homes. A key strand of the £15.9 million investment is support to local charity Holbeck Together through improvements to St Matthew’s Community Centre where it currently delivers its vital services, and an expansion into the adjoining Old Box Office in partnership with current owner, Leeds Building Society. The regeneration of both sites is set to enable a wide range of new services to be offered, including a gym, cafe, social supermarket, and space for local microbusinesses. There will also be significant investment into the public realm and local environment, uplifting the look, feel, safety and accessibility of public spaces across central Holbeck. This includes significant investment into local retail centre, cycle and pedestrian infrastructure and renewal of the main community park, Holbeck Moor. The investment will also help improve housing conditions for around 200 back-to-back homes, addressing their insulation, safety and external appearance, securing financial contributions from landlords to upgrade some of worst private sector housing conditions in Leeds. Leeds City Council and Holbeck Together will now work with government on a validation process to confirm the funding award. Councillor Helen Hayden, executive member for sustainable development & infrastructure, said: “This is fantastic news, which will allow the council to work closely with the local community to deliver transformative change across Holbeck, regenerating the neighbourhood, delivering 21st century infrastructure and supporting the delivery of services that are really needed there. “There is still work to be done before we can put spades in the ground, but we are committed to working with the government and Holbeck Together to successfully deliver the Heart of Holbeck project.” Elissa Newman, chief officer at Holbeck Together, said: “This is such brilliant news for Holbeck and a real testament to great partnership work between the council and Third Sector. “We were so disappointed when our original funding bid was not approved earlier this year, but we have continued to develop our project with business parties across the city and this announcement comes at the perfect time to allow us to plan for further growth in our offer to the community and to improve vital local facilities. This is a game changer for the future of Holbeck.”

Harworth to develop UK head office for global steel business at Advanced Manufacturing Park

Tess Egginton
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Harworth to develop UK head office for global steel business at Advanced Manufacturing Park
Global steel business Danieli & C has committed to a major investment in the UK with the development of a new headquarters in South Yorkshire. The Italian-based group – which has annual revenues of £3.6bn and designs, builds and installs low emission plants for the steel industry worldwide as well as producing quality special steels – is to build a 47,000 sq ft head office, research and distribution facility in Rotherham. Harworth Group plc will develop the new Danieli headquarters at its flagship Advanced Manufacturing Park (AMP) site, which is already home to some of the world’s biggest manufacturers including Boeing, Rolls-Royce and the UK Atomic Energy Authority. The new facility will occupy a prime location within the AMP next to the McLaren Automotive Composites Technology Centre, with frontage onto the Sheffield Parkway, which connects Junction 33 of the M1 to Sheffield city centre. Work will start on the project this month and will be completed before the end of 2024. The new headquarters will support the further growth of Danieli in the UK with state-of-the-art laboratory facilities, and will increase its distribution capabilities five-fold. Andrew Betts, Managing Director at Danieli UK, said: “Our development of a new headquarters is a landmark moment for the company and a very significant signal of our future growth in the UK. “Danieli has enjoyed stellar growth since it launched in the UK 25 years ago and this major investment to bring all our operations onto a single site further strengthens our ability to support our partners in the UK steel and metals recycling industry as they move towards net zero. “We first opened a 3,000 sq ft site in the Lower Don Valley in 1999 and this move to a 47,000 sq ft headquarters on the prestigious Advanced Manufacturing Park is the latest chapter in our growth story in the UK.” Chris Davidson, regional director for Yorkshire & Central at Harworth Group, said: “Danieli is a world-leader in the supply of high-technology plant and equipment, so we are delighted that they have chosen the Advanced Manufacturing Park as the site of their UK headquarters and appointed Harworth to develop this facility. “The AMP has established itself as an international centre of excellence for advanced manufacturing, with its recent designation as part of the UK Government’s first Investment Zone has helped to cement this reputation further, and we continue to see very strong levels of occupier interest for space at the site.”

Willerby wins ‘most sustainable producer’ award in national competition

Stuart Pearcey
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Willerby wins ‘most sustainable producer’ award in national competition

Holiday homes builder Willerby has been recognised as the UK’s most sustainable manufacturer at The Manufacturer MX Awards 2023

Willerby CEO Peter Munk said: “We’re incredibly proud to have won such a prestigious national award, recognising the very significant strides we’ve made in our sustainability journey. “We fully accept our responsibility, as a major UK manufacturer, to lead by example in the drive to a net zero economy and that’s why we prioritise sustainability in everything we do. “We’ve introduced major product innovations, to make Willerby holiday homes the most energy-efficient and sustainable in the industry, as well as making substantial changes in our manufacturing and other operations to reduce our carbon footprint. “We’re also working very closely with our customers, partners and suppliers to support their own efforts to drive down their environmental impact. “We’re ambitious to go much further, but this award is a fantastic tribute to the progress we’ve made to date.” Willerby is the UK’s largest manufacturer of static caravans and lodges, building one in three of all holiday homes produced annually. The awards are run by The Manufacturer, the UK’s leading publication focused on manufacturing, in partnership with the Institute of Mechanical Engineers, and are the only peer-reviewed and judged awards of their kind for UK manufacturing.

Manufacturing output falls and order books deteriorate

Tess Egginton
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Manufacturing output falls and order books deteriorate
Manufacturers reported that output volumes fell in the three months to November, disappointing expectations for expansion, according to the CBI’s latest Industrial Trends Survey (ITS). Manufacturers expect output volumes to decline further into the new year. A more subdued outlook for production comes as order books fell to their weakest level since the second COVID-19 lockdown in early 2021. Both total and export order books were reported as below normal in November, to the greatest extent since January and February 2021 respectively. The survey, based on the responses of 232 manufacturers, found:
  • Output volumes fell in the three months to November (weighted balance of -17%, from -6% in the three months to October) and is expected to fall further in the quarter to February 2024 (-7%).
    • Output fell in 10 out of 17 sub-sectors in the three months to November. The decline was driven by the chemicals, mechanical engineering, metal products and metal manufacturing sub-sectors.
  • Total order books were reported as below normal in November and deteriorated sharply from last month (-35% from -26%). The level of order books is well below the long-run average (-13%) and their weakest since January 2021. Export order books were also seen as below normal and deteriorated from last month (-31% from -23%). This was below the long-run average (-18%) and their weakest since February 2021.
  • Expectations for average selling price inflation over the next three months saw little change from last month (+11%, from +7% in October). Selling price expectations were only marginally above their long-run average (+7%), having declined steadily over the last year and a half from the multi-decade high seen in 2022 (+80% in March 2022).
  • Stocks of finished goods were seen as broadly adequate in November (+3% from +4% in October), below the long-run average (+12%).
Anna Leach, CBI deputy chief economist, said: “Manufacturing output has been under pressure recently given the combination of slowing demand and the run-down of stocks of finished goods. This latest data will fuel concerns that the economy is slowing swiftly as the highest interest rates for 15 years take their toll on demand. “The further softening in orders this month is a worry, with order books now in their weakest position since the start of 2021 when the economy was locked down amid the pandemic.”

Could it be described as a Black Friday Autumn Statement?

Tess Egginton
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Could it be described as a Black Friday Autumn Statement?
James Pinchbeck, partner at Streets Chartered Accountants, reflects on the Autumn Statement. As our seventh Chancellor since 2016 stood up to deliver his Autumn Statement, perhaps the good news was that in contrast to his immediate predecessor, he had run his figures by the Office for Budget Responsibility. Therefore, we hopefully will not experience an aftershock.In the media coverage on the run up to his speech there was much speculation as to what the Statement might include, from reductions in business and income tax to changes in inheritance tax.  Over recent days it has felt that at times they were testing the acceptance of any proposed changes, especially with the electorate, as we are now probably only 12 months away from a General Election.However, it did feel a bit akin to a Black Friday sale, with some 110 measures and announcements to underpin growth, make work pay and increase work/UK productivity.  Overall, a move to hopefully revert the government’s fortune, curtailing the growing shift in support for Labour and perhaps a red wall landslide next year. Whether it will achieve this we will have to wait and see.Whilst as ever the devil is in the detail and it will certainly take time to get through the 110 measures, the key announcements and changes were as follows:
  • The headline grabbing reduction in Employee National Insurance from 12% to 10% – this cut will come into effect from 6th January 2024
  • For the self-employed Class 2 NIC will be abolished with Class 4 NIC to be cut from 9% to 8%
  • Business Rates will continue to be frozen for small businesses and the 75% discount on business rates for retail, hospitality and leisure will be extended for a further year
  • The National Living Wage will increase to £11.44 per hour from April 2024
  • State pension payments are to rise by 8.5% to £221.20 a week, worth almost an extra £900 a year. The triple lock will be “honoured in full”
With business investment in the UK falling behind other OECD countries and with the need to improve productivity to underpin economic growth the announcement that full expensing for businesses to be made permanent must be good news. This will mean that for every £1 a business invests in IT, machinery and equipment they can claim back 25p in Corporation Tax.The Chancellor also announced further changes to Research and Development Tax reliefs aimed at supporting and driving innovation especially in the fields of life science, technology, advanced manufacturing, net zero and digital innovation.A number of our firm’s office locations are set to see a change in their political and governance landscape, with devolution deals announced for Hull and East Yorkshire and the counties forming Greater Lincolnshire.Further afield and including locations from across our practice there was news of the creation of further investment zones and that Freeports and investment zones will be given 10 years of “financial incentives,” rather than five as currently planned.There will also be a further three investment zones in the West Midlands, East Midlands and in Greater Manchester. And finally, whether you are looking to partake in a glass of wine, beer or whatever your tipple to celebrate or otherwise, you will be pleased to hear the duty on alcohol will be frozen until August 2024. For the devil in the detail there is still time to book for Streets Chartered Accountants’ post Autumn Statement webinar which takes place from 11am until 12noon on Thursday 23rd November. Register to join us live and/or to receive a post broadcast recording to watch on catch up.

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ABP Chief Exec takes on Chairman’s role with ports trade association

Stuart Pearcey
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ABP Chief Exec takes on Chairman’s role with ports trade association
ABP Chief Exec Henrik Pedersen is to become the chairman of trade association the UK Major Ports Group during the organisation’s 30th anniversary year. He will chair the Board of other member CEOs and provide strategic direction for the organisation as it champions the vital role of the UK’s in ports in facilitating trade, enabling the green energy transition and catalysing the growth of investment and jobs all around the coast of the UK. He said: “I am honoured to assume the role of Chair of UKMPG and grateful for the opportunity to bring to the table all I have learnt at ABP and my knowledge of the global maritime industry. “It’s an incredibly exciting time, but in the face of global competition, our sector can never afford to stand still. UKMPG members are investing, across this country, in new, clean technologies and infrastructure. Putting in place the right enabling policies and regulation to keep globally mobile infrastructure capital flowing into the UK is vital to continue this proud record. And making sure the UK maximises the value, from being a proud trading nation, to taking advantage of the green energy transition.”

Government report about UK’s nuclear future welcomed by Sheffield Forgemasters

Stuart Pearcey
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Government report about UK’s nuclear future welcomed by Sheffield Forgemasters
A new all-party Government report highlighting the future of the UK’s nuclear industry has been welcomed by Sheffield Forgemasters, the only company in the country capable of producing ultra-large, nuclear-grade forgings. Having developed some of the world’s most advanced technologies to make Small Modular Reactors, Sheffield Forgemasters is one of many UK companies which could aid a renaissance in British nuclear energy, which the report claims could add £20 billion to the UK economy. Forgemasters’ Dominic Ashmore, Head of Strategy and Business Development – Clean Energy, said: “The Pathway to a Nuclear Renaissance Report, provides a definitive measure of just how valuable the UK’s nuclear power agenda is, with a potential value of £20 billion to the UK economy, if the process is implemented in a way that capitalises on UK manufacturing. “With a clear focus on SMR technologies, the UK could quickly become a world leader in the manufacture and implementation of these reactors and with the skills and technology already in place, the UK supply chain has the ability to develop at pace. “Our own investments into site recapitalisation are creating new capabilities, with a larger, 13,000 tonne forging press under construction and plans being laid for a state-of-the-art machining facility, which build on our phenomenal track record in nuclear manufacture.” The launch of Great British Nuclear in July this year aims to start the next generation of nuclear deployment in the UK, and the all-party report states that a Nuclear Roadmap should set key targets to achieve this aim, with the report outlining a programme to create 24 GW of nuclear power. Those targets include delivering further large scale nuclear, such as Westinghouse AP1000 or EPR designed power plants, but also defining sites and placing orders for SMRs to satisfy UK requirements and to start manufacture of these smaller units for export markets. With UK-based Rolls-Royce SMR already registered as one of six reactor designers for the UK, production for domestic and export markets could be implemented relatively quickly, making about 250,000 skilled jobs available. Dominic added: “The process of training and delivering a skilled workforce is a challenge that we are very happy to address and our own apprenticeships programme, which makes up ten per cent of our workforce at any one time, is testament to how strategically we can preserve and develop those skills.”

Finance Yorkshire invests £1.25m in Normanton asset disposal company

Stuart Pearcey
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Finance Yorkshire invests £1.25m in Normanton asset disposal company
Normanton-based asset disposal company BPI is expanding with investment of £1.25m from Finance Yorkshire. The company, which specialises in helping businesses to buy and sell commercial assets, has ambitions to double the size of its business over the next three years. The investment, from Finance Yorkshire’s Growth Fund, has enabled the company to implement a shareholder restructure as part of its growth strategy which includes creating new jobs. BPI was created in 2010 by MD David Boulton, who has spent his career in asset valuation and disposal. He said: “BPI has evolved from an auction house using shared industry software to run its sales to a leading commercial asset disposal company, helping businesses to dispose of their redundant machinery and equipment, quickly and efficiently. “Significant investment in bespoke industry-leading online auction software and internal operating systems reinforce BPI’s position as a key player in the asset disposal market.” The company hosts over 1,200 auctions a year through its online marketplace, and disposes of commercial assets for businesses across a wide range of sectors. David added:“Finance Yorkshire’s investment has helped us put the business in a great position for the future following the restructure and a share distribution to the senior management team.” Finance Yorkshire chief exec Alex McWhirter said: “BPI is a well-established business and it has set out an impressive growth strategy led by David and his senior management team. The company is in a leading position to change the way in which auction disposal of assets are managed. We invest in companies like BPI who have strong ambitions and where there are opportunities for business growth including the creation of jobs in the Yorkshire and Humber region.”

Scunthorpe town centre set for £16m Government cash boost

Tess Egginton
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Scunthorpe town centre set for £16m Government cash boost
Scunthorpe will benefit from almost £16m Government cash to create more jobs and new town centre homes. This funding – from the third round of the Levelling-Up Fund – will be used to reshape the High Street and create a new future. Cllr Rob Waltham, leader of North Lincolnshire Council, said: “Levelling-Up is alive and well in Scunthorpe – the cash will make a huge difference to Scunthorpe and residents in communities who visit the town centre. “The plans we have are ambitious and the Government has backed them. We know there are challenges for high streets up and down the country and with this cash we can start to move these plans forward by creating new jobs and building new homes. “We are determined to improve Scunthorpe and we will back businesses to invest so we can create a new future together.” Holly Mumby-Croft, MP for Scunthorpe, and vice-chair of the Towns Fund Board, said: “It is great that the Government has given us this extra cash to revitalise Scunthorpe town centre and create more new jobs and more new homes. “There is a way to go still but with the backing of Government we will be able to create a new future for generations to come.”

Hull Trains named ‘best place to work’

Stuart Pearcey
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Hull Trains named ‘best place to work’
Hull Trains has been named as “Best Place to Work” at this year’s Hull Live Business Awards. The operator has seen record employee engagement levels this year and its ongoing commitment to improving diversity and colleague wellbeing, whilst maintaining a strong focus on their customers, has landed the top spot at the local business awards. Louise Mendham, Service Delivery Director at Hull Trains, said: “We’ve invested heavily in creating a working environment in which our colleagues feel proud to work here and where we can attract the right new talent. This award is a real testament to the work we’ve done over the past few years and I’m extremely thankful to the whole Hull Trains team.” MD Martijn Gilbert added: “At Hull Trains, our colleagues are at the heart of our organisation and our team is built on local people, working for a local company, providing a great service to our customers, so this recognition is invaluable. This award reaffirms our commitment to creating a workplace where everyone feels valued and supported and is a testament to the great work of our whole team who all help make our company such a great place to work.”
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