York Gift Card is one of the most successful in the UK, generating £70,000 in sales in 2021

York is one of 10 areas of the UK with the highest gift card sales in 2021, says fintech Miconex, as local gift cards widen their appeal across the UK and across the generations. York, Aberdeen, Enniskillen, East Ayrshire, Cambridge, Belfast, Barnsley, Perth, East Lothian and Kirkwall recorded sales of over £1.2 million for their local gift cards in 2021, a 32% increase on 2020. Carl Alsop, Operations Manager at York BID said the data shows the universal appeal of local gift cards: “The York Gift Card launched in 2019. We achieved almost £70,000 in sales in 2021, an increase of 47% on 2020 and we’re very proud of that. In 2021 we introduced a second card design, offered free postage on gift cards, and continued to add on businesses. Over 300 businesses now accept the York Gift Card now, making it the biggest in the UK. When you look at the range of businesses, you understand that it can be bought by, and enjoyed, by anyone, no matter their age, and this is reflected in the 2021 sales data, showing the appeal of local gift cards right across the generations. “When we started the gift card, we thought it would be a card primarily for residents, but it really is a card for all. We’ve had York Gift Cards purchased from as far away as Australia, and for such a wide range of reasons, from winning a pumpkin carving competition, thanking someone for taking care of them during lockdown to a gift for a staycation in York. In 2022 we’ll continue to innovate and grow the York Gift Card, there really is no end to the potential of a local gift card, it can always be developed with new businesses joining and new customers using the card.” Miconex increased the reach of its award winning Town & City Gift Card programme to 70 UK and Irish places in 2021. Analysis of 2021 data shows universal appeal for its local gift cards across the age brackets for both the initial sale of gift cards, and the value of that initial gift card sale. 25-34 year olds lead on gift card transactions but 35-44 year olds lead on gift card value in the UK. In the UK, 25-34 year olds were responsible for 25.44% of gift card transactions, followed by 35-44 year olds (21.15%), 18-24 (15.79%), 45-54 (14.77%), 55-64 (13.74%) and 65+ (9.11%). Higher purchasing value for the 35-44 age group placed this segment into top place for local gift card transaction value in the UK (28.96%), followed by 25-34 (19.94%, 55-64 (16.25%), 45-54 (15.87%), 18-24 (9.93%) and 65+ (9.05%). Women led the way in initial gift card sales and transaction value in the UK at 57%. Colin Munro is the managing director of Miconex: “It’s really encouraging that support for local businesses is coming from all across the UK, and from all ages. Our places, like York, have created a local gift card that people want to buy and receive as a gift. Customers can pick up the gift card and instantly see many, many businesses where they could spend their card. It makes the idea of loving local easy for customers to achieve, and to share with others. “As well as the number of businesses, the unique mix of hospitality, retail, attractions and services on the York Gift Card is integral to its success, and is a huge contributing factor to their universal appeal. Whether someone is 18 or 80, there is an activity they’d enjoy, a restaurant they can visit, or a shop they can buy from, all through their gift card. “It’s particularly encouraging to see the adoption of local gift cards by younger people, in both the 25-34 and 18-24 age groups. These age groups may spend slightly less when they buy the gift card initially, but they back the concept of shop local which is vital for the recovery of our businesses, and the future of our high streets. As we roll out our new digital gift cards, we are continuing on our journey to make shop local easy, convenient and appealing to the whole community.”

£150,000 of Government cash to help businesses upgrade for the future

A new grant scheme to supercharge digital growth across North Lincolnshire launches today. The Government-funded £150,000 cash pot will enable companies to invest in new technology to help them grow, creating more jobs and opportunities. The grants – which can be up to £5,000 – will be targeted at companies looking to invest in the latest technology. This can be anything from specialist cutting-edge hardware and software, upgrading internet connections, buying e-commerce equipment and paying for marketing campaigns or consultancy costs. Businesses of all sizes are eligible to apply, with the minimum award being £1,000. This latest grant programme comes after the launch at the end of last year of start-up grants for new businesses and sustainability grants so companies can upgrade to cleaner and greener equipment. It is part of the council’s pledge to deliver on the levelling-up agenda and support a strong, diverse business sector that will create jobs and enable growth. Cllr Rob Waltham, leader, North Lincolnshire Council, said: “This money will help arm businesses with the cutting-edge technology they need to flourish in the 21st century. “Digitalisation is a key enabler for development, and we are already forging ahead with plans to bring full-fibre connectivity to North Lincolnshire. Businesses can take advantage of that, and more, with the help of these grants.” Ultrafast fibre was installed in parts of Scunthorpe last year and around 900 more commercial properties will be soon able to access the gigabit-enabled broadband thanks to more Government cash, part of the £27m Towns Fund deal for North Lincolnshire. For more information on eligibility for the new grants and to apply, go to the Invest In North Lincolnshire website to book an appointment with a business advisor.

The Yorkshire and Humber region sees modest rise in deal activity in 2021

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The growth in deal activity within the Yorkshire and Humber region recorded towards the beginning of 2021 looked to have plateaued slightly in the final quarter, according to Experian’s United Kingdom and Republic of Ireland M&A Review for the year. Deal volumes, which had been up over 28% in Q1, 46% in Q2, and 35% in Q3 2021, reached 634 for the whole year, a more modest 15% increase on a year on year basis (up from 550 deals in 2020).
However, this was the second highest number announced within the last ten years (second only to the 665 transactions recorded in 2019). The positivity in deal numbers was reflected in transaction values, which saw an exponential rise of 51% to just over £17.4bn (up from £11.5bn in the corresponding period last year). Yorkshire and Humber-based companies were involved in 9.2% of all UK deals in 2021 and contributed 5.4% to their total value.
Yorkshire & Humber’s sharp increase in deal value was fuelled by one of the region’s biggest ever deals – the largest recorded over the last decade. This saw Market Bidco, an acquisition vehicle controlled by US private equity firm Clayton, Dubilier & Rice, agree a recommended cash offer to acquire Wm Morrison Supermarkets, the Bradford-based supermarket chain. Following a highly competitive auction procedure, the bid was finalised at 287p per share, which valued the entire issued and to be issued share capital of Morrisons at approximately £7.1bn on a fully diluted basis and implied an enterprise value of £9.8bn – this has been the second largest deal recorded in the UK so far this year.
The second biggest deal of 2021 saw CBRE Group, an American commercial real estate services and investment firm, acquire Turner & Townsend Holdings, a Leeds-based provider of programme, project and cost management services, for £960m in cash.
Manufacturing remained the most active sector in the Yorkshire and Humber region with 176 transactions in 2021, ahead of professional services (168) and wholesale and retail slightly further back on 148 deals. These sectors (wholesale and retail aside), along with infocomms, support services, financial services, construction, transport, hospitality and public administration and defence and compulsory social security all reported double-digit growth in deal volume. The education sector exceeded those numbers year on year, with triple-digit growth of 110% (from ten deals in 2020 to 21 in 2021). In respect of transaction values, wholesale and retail (where deals worth almost £10.7bn were recorded), was the highest by industry sector. The next best was manufacturing, where the total value of deals reached nearly £2.4bn – this figure was boosted by Cargill, a US global food corporation, agreement to acquire the Performance Technologies and Industrial Chemicals (PTIC) businesses of Goole-based Croda International, in a deal worth €915m (approximately £778m). It is also important to highlight the professional services, infocomms, support services and real estate sectors, which all managed to break through the £1bn barrier for transaction value.
Where detailed funding arrangements were disclosed, a total of 62 transactions that were funded at least in part via new bank debt were recorded; down from 66 for the same period in 2020. HSBC was the region’s most active lender last year, providing funding for 12 transactions, ahead of Shawbrook Bank and Shard Credit Partners, both of which financed five deals. Private equity has again been a prominent source of funding in the region, having been involved in 110 transactions in 2021, making it the second most common source of funding for new deals behind cash (242). The number of deals funded via private equity has increased (from 90 last year), whilst the value of those deals has risen sharply by 58%, from £7.1bn to over £11.2bn. The Northern Powerhouse Investment Fund (NPIF), which combines funding from the UK Government, European Regional Development Fund, British Business Bank and European Investment Bank, was the lead capital investor, providing equity financing for 15 transactions.
K3 Capital Group has been the most active financial adviser for 2021, having advised on 37 transactions; marginally ahead of Grant Thornton on 36 deals, with BHP Corporate Finance in third position having been cited in 24 deals. Rothschild & Co was the lead financial adviser by value, advising on eight transactions for an aggregate consideration of just over £12bn – this included representing Morrisons in the largest deal within the region as mentioned above. Clifford Chance was top of the legal value rankings having advised on three transactions for an aggregate consideration of £10.4bn (this included working for Clayton, Dubilier & Rice in its buy-out of Morrisons). Clarion Solicitors led the volume rankings with 46 qualifying deals, ahead of Schofield Sweeney and Squire Patton Boggs on 34 and 28 transactions, respectively.

Work begins on development of new Barnsley homes

Work has started on a new development of 35 homes providing a mix of houses, bungalows and apartments in Barnsley. The development, off St Michaels Avenue in Monk Bretton, will provide a mixture of homes for social rent, private sale and private rent. Sixteen of the new properties will be low carbon, constructed with sustainable features and energy-saving technology such as air source heat pumps instead of mains gas. Barnsley Council named Esh Construction as the appointed contractor after the scheme was procured through YORhub’s YORbuild2 framework. Esh operations director, Simon Woodward, said: “Across our construction projects we aim to maximise the social and economic benefit for the local community. Throughout this scheme we will aim to procure a local supply chain, employ a local workforce and support community initiatives. “We are delighted to commence work on the first new-build housing development Esh will deliver for Barnsley Council, marking a significant milestone in our growth across the Yorkshire region.” The development was given the go-ahead by planners in December 2020 and will provide 24 two, three and four-bedroom houses, 7 two-bedroom bungalows, and 4 two-bedroom apartments. It forms part of the council’s housing strategy to increase the supply of affordable housing and private rented homes to deliver a diverse range of properties and tenures to help create sustainable communities. Cllr Tim Cheetham, Barnsley Council’s Cabinet spokesperson for Regeneration and Culture, said: “The government says that we must provide 21,524 new homes by 2033, and we’re dedicated to making sure our borough will have sustainable, quality housing, so you can live in the right house for you. “I’m delighted we’re now able to get moving on these exciting new homes which will help us achieve that.” Esh Construction will work in partnership with Jefferson Sheard Architects and MJM Consulting Engineers. Construction work is now underway with the first new homes being available for residents in Spring 2023.

Broad Welcome for Levelling Up Plans from LEP Chair

The Government’s White Paper on Levelling Up the UK published yesterday has been broadly welcomed by the Chair of the Greater Lincolnshire Local Enterprise Partnership, Pat Doody. The White Paper recognises the value of business-led Local Enterprise Partnerships (LEPs) and sets out a 12-point plan for reducing geographical inequalities across the country. But Pat Doody says the lack of devolved powers or a county deal for Lincolnshire is a missed opportunity for the area. “We’re very pleased to see that this Government recognises the value of business-led LEPs and has embedded the role of LEPs in Government policy for the first time,” said Pat. “The White Paper confirms that having an independent business voice in the decision-making process is vital for the economic wellbeing of local areas, skills and jobs. We are committed to working with Government to underpin that, to help build the new structures outlined in the White Paper and to focus on the priorities it sets out.” Pat welcomed the missions set out in the White Paper, in particular the commitment to investing in education in Lincolnshire. Lincolnshire will become one of 55 new Education Investment Areas aiming to improve education for disadvantaged children and young people. The county will receive targeted support including priority for new specialist sixth-form free schools, help for schools to retain the best teachers in high-priority subjects, and access to a new pilot programme to improve pupil attendance. “The increased investment in education is to be welcomed, as is the commitment to increase public funding for research and development away from the South East by 40%,” said Pat. “We will work with business and the universities to make sure we get our fair share of R&D opportunities in Greater Lincolnshire. “And it was encouraging to see our UK Food Valley highlighted in the White Paper as a good example of private sector initiatives supported by the public sector, and the Lincolnshire Institute of Technology cited too.” However, the Chair of the Greater Lincolnshire LEP voiced a concern that future funding for Greater Lincolnshire might not match levels of EU funding seen in the past. “We welcome the news that the process of bidding for funding will be simplified, but the criteria for qualifying to receive cash are still unclear. We remain concerned that money from the Shared Prosperity Fund will not be sufficient to match previous regional funding from the EU for Greater Lincolnshire,” he said. Pat also expressed disappointment that Lincolnshire was not included in the first-wave list of areas to be offered devolution deals. Nottinghamshire, Derbyshire, Leicestershire and Hull/East Yorkshire are all included. “We were disappointed to see that Greater Lincolnshire was not announced in the first wave for a devolution deal, despite being surrounded by areas that were invited,” he said. “As a LEP we will continue to put our shoulder to the wheel by lobbying for Greater Lincolnshire and by working at pace with our local authority partners to seek an early devolution deal. “Our opportunity has been unrealised and under-invested in for decades, and levelling up will only be achieved if it is a priority shared by the whole of Government, working with local and regional leaders.” We all know that we are stronger together, and the Greater Lincolnshire voice must continue to be united and strong.”

Theakston announces permanent relaunch of ‘Masham’s best kept secret’

Iconic Yorkshire brewery T&R Theakston has announced plans for the permanent return of its much-loved Theakston XB beer after a two-year absence.

The 4.5% ale will be available to stock in pubs and bars across the nation from March 2022, following a return of licensee confidence in cask ale after the uncertainty caused by the pandemic.

Often referred to as ‘Masham’s best kept secret’, Theakston XB is a premium strength ruby ale brewed with Bramling Cross and Fuggle hops, boasting subtle rhubarb and apple fruit flavours. First brewed in the 1970s, XB is brewed in Masham and was designed in tribute to the classic English and Scottish ‘border’ style of beer and has quietly established itself as a firm favourite of cask ale enthusiasts.

Theakston XB is the last of the brewery’s core portfolio to be reintroduced following the ongoing coronavirus lockdowns and is to be reinstated at a time when pubs and bars are demonstrating cautious optimism over a growing return to normality.

Simon Theakston, managing director at T&R Theakston, said: “We are certainly raising a glass to the permanent return of Theakston XB as we witness renewed confidence in the future of the hospitality sector from customers and licensees alike. As a beer that is strong in gravity with a low but complex hop character, Theakston XB was and remains an instant success.

“After the unique challenges of the coronavirus pandemic on the sector, we are delighted to now be in a position to permanently reintroduce one of our staple beers, and to continue to diversify the portfolio of handcrafted, legendary ales that we have built our almost 200-year reputation on.”

Rotherham’s Waverley development accelerated with land parcel sales for new homes and hotel

Harworth Group, a regenerator of land and property for sustainable development and investment, has sold two land parcels at its Waverley development site in Rotherham, South Yorkshire: a 12.6-acre plot sold to Avant Homes for the delivery of 172 new residential units, and a 2.7-acre plot sold to Stapleford Ventures for the development of a 4- star 150- bedroom Marriott hotel. The sale to Avant Homes represents the housebuilder’s fourth acquisition at Waverley, and the land parcel is adjacent to one purchased by the housebuilder in 2020 for the delivery of 144 homes. The new homes will be situated between the River Rother and Highwall Park, in an area of the development known as ‘Waverley Riverside’. As part of the construction, Harworth will provide a new perimeter cycle and bridleway path adjacent to the river, and will begin work on the first phase of Highwall Park, a planned 1.5km linear park running through the heart of the Waverley site, connecting the Advanced Manufacturing Park (AMP) to the Waverley lakes. To minimise environmental impact, development platforms will be created from reused materials from elsewhere on site, and topsoil will be imported from Harworth’s nearby Micklefields development. The proposed hotel will operate under Marriott’s ‘Courtyard’ brand and provide 150 bedrooms across six floors, alongside a restaurant and gym facilities for guests. The hotel will occupy a prominent position at the entrance roundabout to the Waverley development, and will provide an important community asset for use by residents and businesses at the adjacent AMP. At Waverley, Harworth is transforming the former Orgreave colliery into a new community of up to 3,890 homes and 2.1 million sq ft of industrial & logistics space at the AMP, alongside 310-acres of green open space. To date, land has been sold for over 1,875 homes, and 1.5 million sq ft of space has been delivered at the AMP. Harworth is currently awaiting the outcome of a planning application for Olive Lane, a new heart of the community for Waverley, where proposals include a supermarket, restaurants and cafes, a medical centre and offices, alongside additional residential development.

Levelling up: Sheffield one of the first cities to benefit from ambitious renewal programme

Sheffield has been named as one of the first cities to benefit from government’s Levelling Up programme set out in a new White Paper. Sheffield is one of the first of 20 places to benefit from the government funding that aims to transform cities and economies, create new homes, jobs, improve health, education and leisure facilities as well as roads and railways. The plan aims to provide a streamlined strategy for government departments to work across, that ensures a well-coordinated approach with local city leaders, helping to bring about significant change, quickly. It builds upon work already in motion between city representatives and Homes England to form a collective approach to housing growth. Government representatives are expected to visit Sheffield later this month to begin work with the city on initial plans for how to approach the regeneration at scale and at pace.  This is set be the first in a series of meetings to support the city in delivering its ambitions for physical, economic and social regeneration. Leader of the Council, Councillor Terry Fox, said: “This is promising news for Sheffield and the South Yorkshire region, and shows that government have recognised our ambitions and all of the great work that is already being carried out here to make our city an even better place to call home. “The disjointed, haphazard and disproportionate approach to funding and support for cities outside of London needs to be addressed swiftly to tackle the growing inequalities and speed up regional productivity. I welcome the governments objectives outlined in the white paper today, but we really need to see more detail now and find out where the cash is. “Levelling up is a long-term commitment that we in Sheffield are determined to drive forward regardless of today’s announcement but we look forward to working with Government over the coming weeks to see how the agenda can bring about true and lasting change in our city and for our people.” Mazher Iqbal, Executive Member for City Futures: Development, Culture and Regeneration, said: “Today’s announcement is a long awaited step for Sheffield, that if it works, has the potential to help us achieve our bold and ambitious plans for the city. “In Sheffield there is already some brilliant, innovative work taking place and last year we received £37m towards Castlegate and Sheffield Olympic Legacy Park. We will build upon developments that are already underway such as Heart of the City, Central Area Strategy, Castlegate, Sheaf Valley & Park Hill, Attercliffe, Sheffield Olympic Legacy Park, Advanced Manufacturing innovation District, Kelham Island & Neepsend, Gleadless Valley and Stocksbridge, to ensure Sheffield is at the forefront of regeneration and a city that serves its people for years to come. “More detailed discussions need to take place over the next weeks to iron out what the 12 priorities of the Levelling Up White Paper mean for Sheffield and our vision. We hope that this is the first step in government departments pooling resources, listening to and support our ambitions, coordinating investment and helping us to deliver real regeneration and the economic prosperity that we deserve in Sheffield.”

Mayor says Government levelling up plans do not go far enough for West Yorkshire

The Mayor of West Yorkshire, Tracy Brabin, has welcomed the commitment to levelling up in the Government White Paper, but expressed frustration that the plans do not go far enough to truly make a difference to the lives of people in our region. The Mayor of West Yorkshire, Tracy Brabin, said: “It’s positive that the Government recognises the urgent need to level up across the nation but the money it promises is nowhere near enough. The long-term ambitions of the strategy are welcome, but we need to see action and delivery now, not just by 2030. “There’s lots of ambition, lots of hope, but Mayors and local leaders need enough funding, and the tools to do the job to improve the lives and livelihoods of people in our region. “Our talent and potential can match anywhere in the country, but the ambitions of today’s White Paper need to be backed up by further commitments from the Treasury. “The Government have made countless promises over the last decade to strengthen regional economies. We’ve had the Northern Powerhouse, we’ve had local industrial strategies, all of which have asked local areas to chop and change their priorities. “The test for this White Paper will be whether they deliver on their promises to empower local leaders, simplify funding, and give us the freedoms and flexibilities we need to deliver for our communities.”

To truly level up, West Yorkshire Combined Authority says it needs:

  • Funding for a modern public transport system including an effective, London-style bus network that properly connects communities with jobs and opportunities. It has submitted a £1bn bid to achieve its ambitions for bus services.
  • Long-term funding to support jobs growth, regeneration and new infrastructure, to give the region certainty and security.
  • The end of ‘beauty contests’ where regions are pitched against each other to bid in competition for small amounts of short-term funding.
  • A foundation of strong, well-funded public services.
  • More investment in innovation and the green economy.
  • More pounds in people’s pockets and support to boost people’s incomes.
The Mayor of West Yorkshire added: “A modern, integrated public transport system is absolutely key to levelling up West Yorkshire and the North. And this White Paper contains ambitions for the country’s local public transport to be much closer to London standards by 2030. “But the Government’s Integrated Rail Plan does not match that ambition and does not meet our region’s needs. It doesn’t deliver HS2 to Leeds and Northern Powerhouse Rail with new station in Bradford. “The White Paper rightly identifies the potential of transport-led regeneration, but government’s plan denies West Yorkshire the opportunity to inject billions of pounds into our economy through this route. “We have bold and ambitious plans for our bus services. We want a London style system with a comprehensive network, capped fares and a tap in, tap out system. But government Covid funding for buses ends next month, and without any extension, there will only be enough money to prop up existing services. “Bus operators in our region are already facing major pressures and being forced to withdraw routes in areas that government really want to level up, such as Wakefield. “We’re doing what we can as a Mayoral Combined Authority, stepping in to protect routes, but we need more support from Government. “To achieve a London standard service, we estimate we need an investment of £1bn over five years, but it’s unlikely government are going to support our ambitions.” Brabin continued: “The Government says it wants to simplify and streamline the way it distributes funding to Mayors and local leaders. This is welcome. The constant competitive bidding pots and beauty contests for small amounts of time limited money restricts our long-term planning. But we’ve heard words like this before, and the test will be in the delivery of the commitment. “We’ve had confirmation that the UK Shared Prosperity Fund will finally be delivered, but we expect to get less from this than the EU funds it replaces. So, whilst the flexibilities and freedoms that this funding promises to deliver are welcome, fewer resources will limit what we’re able to achieve. “The one allocation we have received today is £22m from the Brownfield Land Fund. Sadly, this comes with the same red tape, short termism and restrictions as we had before – and this is from Michael Gove’s own department. “I do believe that Michael Gove is genuinely committed to levelling up our nation, but we need a proper commitment from every minister in this Government, including the Chancellor and the Treasury. It’s not enough to just have a single champion in the Cabinet, we need a ‘Whole Government’ approach. “I want to work with Government to further strengthen our devolution deal and deliver on our shared ambitions for our communities.”

Funding granted to bring further Lincoln historic shopfronts to former glory

City of Lincoln Council in partnership with Historic England has awarded more than £250,000 in funding to help restore six historic Lincoln shopfronts.

Some £262.901.40 has been awarded towards the cost of eligible works for 38-44 Sincil Street, estimated at £799,847, as part of the High Street Heritage Action Zone (HSHAZ) scheme. In April 2020, City of Lincoln Council received a successful bid for funding of £1.68 million from Historic England, which has enabled a programme of historic building restorations designed to revitalise the area and uncover its rich history. This includes plans to revitalise Lincoln’s historic shopfronts and bring them back to their former glory. The first shopfronts to be restored are now complete and are located on 8-10 St Mary’s Street, with further works now taking place at 38-44 Sincil Street, some of which have been vacant for a number of years. Ursula Lidbetter, CEO of Lincolnshire Co-op said: “We are delighted with the public reaction so far to the development of The Cornhill Quarter. “This funding will allow us to continue our work in conserving the heritage of Sincil Street, which includes the buildings behind the shops that were built in the 1800s as back-to-back court housing. “There are very few examples of these types of buildings still in existence in the country, so we are delighted they can be preserved as part of the restoration works.” Cllr Neil Murray, Portfolio Holder for Economic Growth and Historic Environment Advocate at City of Lincoln Council said: “There are many unique heritage aspects and locations within Lincoln that need to be preserved so that Lincoln’s special character is maintained, and that includes its shopfronts. “This project will bring the buildings back to their original glory and help balance heritage townscape investment  towards the northern end of Sincil Street connecting with the Central Market development. “I look forward to seeing the completed works.” David Walsh, Principal Advisor at Historic England added: “Heritage led regeneration in The Cornhill Quarter has shown the transformative effect investing in Lincoln’s historic buildings can have. “We are delighted that funding from Lincoln’s High Street Heritage Action Zone will allow further restoration of historic shopfronts on Sincil Street.”