Leeds office market sees strong Q1 as businesses commit to premium space

Leeds’ office market opened 2025 with solid momentum, showing sustained demand and upward rental pressure in both city centre and out-of-town locations, according to figures from the Leeds Office Agents Forum (LOAF).

A total of 241,282 sq ft of office space was taken up in the city centre between January and March, closely matching the 249,703 sq ft recorded during the same period last year. LOAF tracked 25 city centre deals during the quarter, with the most significant transaction being Network Rail’s acquisition of 108,576 sq ft at Princes Exchange, adjacent to Leeds Railway Station.

Emerging city centre locations like Aire Park are also gaining traction. Two notable lettings were completed at 3 South Bank Street—23,270 sq ft to Interactive Investor and 23,261 sq ft to TPT Retirement Solutions—highlighting the shift toward high-quality office hubs in new districts.

Out-of-town activity surged, with 94,861 sq ft transacted across 26 deals—a 140% year-on-year increase. The quarter’s most significant suburban letting was 2 Work’s commitment to 19,513 sq ft at White Rose Park. This was followed by Trimble UK taking 13,617 sq ft at Trimble House on Gelderd Road.

Grade A office rents in the city centre continued to climb, driven by limited availability. As pricing tightens, high-spec suburban locations are likely to see increased attention from occupiers seeking quality space outside the city core.

The data reflects a growing interest in premium workspaces across Leeds, suggesting a competitive environment for businesses seeking well-located and high-quality office space.

New employment law changes will affect use of agency workers

UK businesses that rely on agency workers, especially those on zero-hours contracts, must start preparing for a major shift in employment law. Under new measures introduced in the government’s Employment Rights Bill, agency workers will soon be entitled to greater job security, improved working conditions, and more predictable scheduling.

The changes are part of a broader move to reduce what the government calls “one-sided flexibility,” which has long affected zero-hours and low-hours contract workers. Employers will be required to give clearer information on terms of engagement, including guaranteed hours. There will also be rules requiring reasonable notice of shifts and compensation when work is cancelled or altered at short notice.

The new legislation aligns the rights of agency workers more closely with those of directly employed staff, including protections against unfair dismissal. This means businesses can no longer use agency workers as a workaround to avoid compliance with fair work practices expected under these reforms.

The Employment Rights Bill is expected to pass into law by summer 2025. Implementation will be phased, with some provisions taking effect in autumn 2025 and the rest following in 2026.

Employers, particularly small to medium-sized enterprises (SMEs) or those without in-house HR teams—are being urged to review their employment contracts, policies, and staffing strategies now. Failure to comply could expose businesses to legal and financial risks once the new rules take effect.

Artech acquires Powerlite Fitzgerald to expand lighting market presence

Durham-based Artech Lighting has acquired North Yorkshire lighting manufacturer Powerlite Fitzgerald in a strategic move to strengthen both companies’ positions in the lighting industry. The deal, completed this week for an undisclosed sum, allows both firms to expand their market reach while continuing to operate as separate entities.

Artech, which designs and manufactures lighting solutions in the UK for global clients, will now oversee operations at Powerlite Fitzgerald’s Keighley base. The North Yorkshire firm, with over 40 years in the domestic lighting market, will maintain its brand identity and day-to-day operations, but under new leadership from Artech managing director Stuart Hylton.

The acquisition is expected to drive growth through shared expertise and increased investment. Both companies are set to benefit from operational independence while adopting mutual best practices. No centralisation of services is planned, allowing each business to retain its distinct market focus and in-house capabilities.

The move also signals Artech’s intent to broaden its footprint in the UK lighting sector, leveraging Powerlite Fitzgerald’s established reputation in domestic markets alongside its own international client base.

Clearpoint Recycling signs major PET supply deal to support new UK recycling facility

Clearpoint Recycling, a Harrogate-based waste management and recycling firm, has secured a significant nine-figure contract with Enviroo, a specialist polyethylene terephthalate (PET) recycler based in Cheshire.

Under the five-year agreement, Clearpoint will supply 35,000 tonnes of PET material annually to Enviroo’s upcoming recycling plant at Ellesmere Port, set to open in 2027. The facility will process PET waste into certified food-grade recycled PET (rPET), aimed at meeting increasing global demand for sustainable packaging materials.

The deal strengthens the UK’s domestic recycling infrastructure and supports the future implementation of the Government’s Deposit Return Scheme (DRS) by helping to secure a stable supply of recovered PET bottles. It is also expected to generate skilled roles across commercial and operational functions within the sector.

Clearpoint Recycling, founded in 2012, partners with regional waste firms including Yorwaste and H W Martin Waste Ltd to manage recovered materials. The company recently expanded into Lithuania, reflecting broader ambitions to scale its operations globally while maintaining local sourcing strategies.

Shackleton expands into personal injury finance with IMAM and TWP acquisition

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Shackleton has acquired IM Asset Management (IMAM) and its subsidiary, TWP Wealth, from the Irwin Mitchell Group, launching a new Personal Injury and Court of Protection Division aimed at supporting clients with life-changing injuries. The transaction is pending approval from the Financial Conduct Authority.

The move brings approximately £1.4 billion in funds under management and advice into Shackleton’s portfolio. IMAM, which operates across Sheffield, Leeds, Newcastle, Manchester, Birmingham, and London, manages the majority of these assets internally. TWP Wealth, based in Alderley Edge, Manchester, will retain its focus on high-net-worth financial planning under the Shackleton brand.

The acquisition strengthens Shackleton’s regional footprint in Yorkshire and the North West, while expanding its specialist capabilities in injury-related financial planning. The deal adds 88 professionals, including 20 financial advisers, to the firm, with IMAM CEO Stewart Sanderson joining Shackleton’s executive committee.

Shackleton, a chartered financial adviser and wealth manager headquartered in London, is positioning this acquisition as part of its broader strategy to grow its nationwide advisory services.

ITM Power raises revenue outlook as cash position strengthens

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Green hydrogen equipment maker ITM Power has raised its full-year revenue forecast, citing the recognition of revenues tied to completed contractual obligations. The revised outlook now sits between £25.5 million and £26.5 million, up from the previously stated range of £18 million to £22 million.

The Sheffield-based firm, which produces electrolysers used to generate hydrogen from renewable electricity, has also upgraded its cash position guidance. It now expects year-end net cash of £204 million to £205 million. This follows a stronger-than-expected second half, outpacing earlier forecasts issued in both August 2024 (£160 million–£175 million) and January 2025 (£185 million–£195 million).

Despite the improved top-line and cash performance, ITM Power still anticipates an adjusted EBITDA loss of between £32 million and £36 million for the financial year.

Shares in the AIM-listed company surged by more than 20% in early trading before settling around 9% higher by mid-morning. However, the stock remains down 38% over the past year.

Quickline and C4DI partner to accelerate digital transformation in rural businesses

Rural broadband provider Quickline has partnered with the Centre for Digital Innovation (C4DI) to support digital transformation among small businesses and entrepreneurs across East Yorkshire and Lincolnshire.

The three-year initiative is designed to help 60 rural enterprises adopt digital tools and technologies. It forms part of Quickline’s social value contribution to the UK government’s Project Gigabit programme.

The partnership will deliver a series of innovation days, training sessions, mentoring, and workshops tailored to the specific needs of rural businesses. The goal is to enhance digital capability, drive innovation, and create new growth opportunities outside urban centres.

C4DI will lead programme delivery, offering access to its network of experts and support infrastructure, while Quickline provides the digital connectivity and strategic backing necessary to enable long-term adoption.

Yorkshire and the Humber sets the benchmark for employee work-life balance

New workforce data reveals that Yorkshire and the Humber has the lowest proportion of employees regularly working beyond contracted hours, positioning the region as a leader in sustainable employment practices.

Only 36% of workers in the region report working additional hours, well below the UK average of 42%. This contrasts with Northern Ireland, where 48% of employees regularly work overtime, indicating a heavier workload culture.

The findings, based on research by recruitment firm Reed, highlight a broader issue: across the UK, many workers are clocking extra hours due to job demands and unmanageable workloads. However, compensation remains inconsistent. In Yorkshire and the Humber, less than a third of those working overtime are paid for it, and 40% receive no compensation at all.

The region also faces a mixed picture on wage satisfaction. Half of workers are happy with their current pay, while the other half cite stagnant wages and low-paying sectors as reasons for dissatisfaction.

The research, drawn from over 21 million job ads and a survey of 5,000 workers, offers a window into current pressures on workforce wellbeing, job design, and compensation.

Sheffield recycling site expansion recommended despite local objections

A proposal to expand an industrial recycling site in Sheffield has been recommended for approval by the city’s planning committee, despite opposition from residents and local politicians. The application, submitted by Blue Phoenix UK, seeks to extend the aggregate recycling facility at Beeley Wood Recycling Village, located on Beeley Wood Lane, Middlewood.

The planned extension involves a 3.5-hectare land parcel at the north-western end of the Claywheels Lane industrial estate. The proposal includes the construction of a new processing building, as well as an increase in operating hours, waste processing capacity, and stockpile heights.

The planning and development committee at Sheffield City Council is set to decide on the application next week (April 29). The proposed expansion has raised concerns among local residents regarding its potential environmental and logistical impact.

UK tourism misses pre-COVID spending as policy decisions draw criticism

UK tourism spending by international visitors remained £2.2 billion below pre-pandemic levels in 2024, according to new data from the World Travel and Tourism Council and Oxford Economics. The total spend reached £40.3 billion—5.3% less than in 2019—despite the sector contributing £286 billion to the wider economy and supporting over 4 million jobs.

Industry analysis links the lag to recent government policy choices, including the introduction of digital travel permits, the removal of VAT-free shopping for tourists, and higher air passenger duty. These measures are seen as reducing the UK’s competitiveness compared to other European destinations, where recovery to pre-COVID levels has largely been achieved.

There is also concern over reduced investment in tourism promotion, particularly a cut of over 40% to VisitBritain’s budget. With tourism representing around 10% of GDP, stakeholders argue that the sector is being deprioritised despite its potential to drive regional economic growth and private-sector employment.

The government has announced a new visitor economy strategy for later this year, targeting 50 million international visitors annually by 2030. The sector awaits further details on how fiscal and regulatory changes will align with that ambition.