Student housing portfolio relisted at £30M after price reduction

April Lara
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Student housing portfolio relisted at £30M after price reduction

Beachrock has significantly lowered the asking price for a purpose-built student accommodation (PBSA) portfolio, now seeking £30 million after initially marketing the properties at £90 million. The portfolio comprises over 1,000 student beds across Coventry, Nottingham, and Sheffield.

The assets are spread across Coventry, Nottingham, and Sheffield. Initially part of the offering, a Cambridge property is no longer included. The remaining properties, which vary in size and price per bed, are available for purchase individually or as a group, with offers due by March 20.

The portfolio is now priced at £26,300 per bedroom, aligning with previous market interest. Beachrock stated that the new price reflects previous interest in the portfolio, aligning with market valuations.

MJ Gleeson reports sales growth despite profit decline

April Lara
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0
MJ Gleeson reports sales growth despite profit decline

Housebuilder MJ Gleeson has reported an increase in home sales and revenue despite a sharp drop in profits, reflecting ongoing challenges in the UK housing market.

For the six months ending December 31, the Sheffield-based firm generated over £150 million in revenue, a 10% increase from the same period the previous year. However, pre-tax profit fell by half to £3.6 million. The company’s land division did not complete any transactions during the period but expects to finalise several deals in the coming months. It also noted that recent government planning reforms are beginning to have a positive impact.

The broader housebuilding sector has struggled with weaker demand due to high interest rates and economic uncertainty. Gleeson completed 801 home sales in the second half of 2024, up from 769 a year earlier. The company also recorded higher net reservations per site and a 4.8% rise in average selling prices, reaching £193,900.

Despite the increase in sales, profit margins took a hit due to incentives offered to buyers. Looking ahead, the company remains optimistic about a market recovery, citing strong demand in the affordable housing segment.

Businesses hear how film, nature, and a coastal walk can boost Lincolnshire tourism

Stuart Pearcey
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Businesses hear how film, nature, and a coastal walk can boost Lincolnshire tourism

Businesses at Lincolnshire’s fully-booked visitor economy conference have heard how film tourism, nature tourism and the new coastal path could boost the county’s economy.

Hosted by Lincolnshire County Council’s economic development team, the event also demonstrated the success of the Visit Lincolnshire website in showcasing everything the county has to offer. Speakers included Heather Greenwood from Location Lincs and BBC Springwatch’s Lucy Hodson, known affectionately as ‘Lucy Lapwing’. County Councillor Colin Davie said: “This was a great event to bring businesses together so they can network and share ideas and challenges. It’s a flagship event for tourism and is a good example of how we support businesses and help them navigate the challenges in the sector – of which there are many right now. “Tourism is an incredibly important part of our economy and as a council we have invested in the sector, including the Visit Lincolnshire website, and provided grants to those struggling during after the Covid pandemic. “There was a great line up of speakers at this event and I hope everyone who attended came away inspired by the future opportunities that our visitor economy businesses can benefit from.”  

Heathrow’s largest-ever development will use British steel, says airport CEO

Stuart Pearcey
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Heathrow’s largest-ever development will use British steel, says airport CEO
Heathrow Airport CEO Thomas Woldbye has announced the largest private investment programme in Heathrow’s history and confirmed the airport is developing proposals for a third runway to share with Government by summer – and pledged to support UK industry by signing the UK Steel Charter. The charter aims to maximise supply chain opportunities for UK steel producers. Gareth Stace, UK Steel Director-General, said: “Signing the UK Steel Charter is a vital commitment to strengthening Britain’s industrial backbone, ensuring our steel industry continues to support high-quality jobs, drive investment, and play a central role in the UK’s economic future. By prioritising UK-made steel in major projects, businesses can build a more resilient and sustainable supply chain, keeping value and expertise within the UK. “Heathrow signing the UK Steel Charter is a major vote of confidence in UK steelmaking and British businesses full stop. With the airport embarking on its largest-ever private investment programme, this commitment unlocks significant opportunities for UK steel producers and supply chains to help deliver critical national infrastructure. Backing UK steel means backing UK jobs, innovation, and long-term industrial growth, ensuring the benefits of Heathrow’s expansion are felt nationwide.” Zengwei An, British Steel CEO, said: “We’re proud to be backing a third runway and the proposed expansion of Heathrow. Major developments like this, which require huge volumes of steel, demonstrate why the UK must have a strong and vibrant steel manufacturing sector. “As Britain’s only manufacturer of heavy constructional steel sections, and rail, we have a critical role to play in helping this country meet its many infrastructure needs and look forward to working with Heathrow, other customers, and the UK Government, to support investments which grow the British economy. Our colleagues in Scunthorpe and Teesside have a distinguished history of supplying world-class products into projects like Heathrow’s expansion, and we are incredibly excited by the potential of today’s announcement and the signing of the UK Steel Charter.”Mr Woldbye said: “This privately-funded programme will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year. Heathrow is proud to answer the Chancellor’s call to get Britain building. Mr Woldbye said: “A third runway is critical for the country’s future economic success, and I confirm we will submit our plans for a third runway to Government this summer. Ahead of then, as part of a phased expansion programme and supported by the Government’s clear backing, I am today confirming multi-billion-pound investment plans, 100% privately funded, to upgrade our terminal buildings, enhance passenger experience, and improve resilience and sustainability. This is vital investment and will ensure Heathrow remains globally competitive and a jewel in the country’s crown – the UK’s Gateway to Growth”.

Hull firm agrees long-term supply deal with modular building specialist

Stuart Pearcey
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Hull firm agrees long-term supply deal with modular building specialist
Hull-based FR Scott has entered a partnership with Premier Modular, one of the UK’s leading offsite modular building specialists. A new long-term contract positions FR Scott as the supplier of fixings and fasteners to Premier Modular’s manufacturing site in Bransburton in East Yorkshire for a number of years. In readiness for the start of this new contract our team has already fitted new FR Scott branded black and red racking in key locations across five factories. This ensures Premier Modular can maintain its high standards of efficiency and quality. FR Scott Head of Sales and Marketing Tony Rands said: “We are thrilled to partner with Premier Modular, the fact they have chosen us to manage their fixings supply, following a robust selection process, highlights our ability to deliver innovative, tailored supply solutions to the modular industry that work.”

Two more occupiers take space at iPort in Doncaster

Stuart Pearcey
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Two more occupiers take space at iPort in Doncaster
Verdion has secured two new occupiers taking almost 415,000 sq ft of logistics space at iPort, the 800-acre multimodal logistics hub just outside Doncaster. Moran Logistics has taken the 166,872 sq ft iP7 unit offering 158,992 sq ft of warehousing with 15m clear headroom, 17 HGV bays, 7,880 sq ft of offices and welfare and 315+kVa power. CBRE advised Verdion and Bishop Property Consultants advised Moran Logistics. iP10, a total of 259,286 sq ft, has been leased to an unnamed occupier. Its new unit offers 247,957 sq ft of distribution space with 15m clear height and 40 HGV bays, 11,329 sq ft of offices and welfare and 500+kVa power. GV&Co advised Verdion. Two further development-ready sites are allocated for build-to-suit opportunities, with a maximum size at iP4 of 42.73 acres with scope to accommodate a cross-dock distribution facility up to 846,250 sq ft deliverable in 12 months from contract. Jamie Young, Development Surveyor at Verdion, said: “There has been a noticeable shift in occupier demand in the last quarter, with renewed appetite for expansion and a focus on high quality space. These deals underline the continued attractiveness of iPort – and its power capacity, multimodal capability and strong demographics – to a wide range of businesses.”

Planners consider demolition of buildings in Grimsby to prepare way for transport hub

Stuart Pearcey
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Planners consider demolition of buildings in Grimsby to prepare way for transport hub
A planning application has been submitted to demolish the units in Grimsby’s Osborne Street to clear the site ahead of the creation of the transport hub. Approval was given in September last year for the scheme to create a Transport Hub on a 1.6acre site off Osborne Street in the town centre. Since then, preliminary site surveys have been conducted to feed into the design of the first stage of the hub, on the Garden St car park site, accessed from Osborne Street once the buildings have been demolished. The units due for demolition were built in the 1970s, replacing housing at the time. Most of the existing buildings have been vacant for some years, with the Haven Centre relocating earlier this year. The aim of the Transport Hub scheme is to create a multi-functional transport hub for buses, bikes, and other users, which connects to the next door railway station, encouraging public transport use and supporting the wider Grimsby Town Centre regeneration ambitions. Stage one of the transport hub will essentially be a large, flat area co-locating all the bus shelters together once again. Further money will be sought to create a hub building for stage two of the plans. As part of the main demolition, the contractor will be instructed to minimise any waste that goes to landfill, to salvage bricks, and to recycle or re-use steelwork and concrete where possible.

Peter takes on MD role in wealth management arena

Stuart Pearcey
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Peter takes on MD role in wealth management arena
Duncan & Toplis group has appointed Peter Wilson as MD to lead its financial advice and wealth management team at Castlegate Financial Management, supporting the group’s ambitious drive for growth. Peter Wilson joins the group with a wealth of experience in strategic leadership and financial services, having held senior roles with organisations including Legal & General Investment Management and Flying Colours Financial Advice. He has also worked directly with Her Majesty’s Treasury and the Financial Conduct Authority, contributing to the development of the UK Financial Capability Strategy. He succeeds Andy Severn, who has stepped down from the role after being involved in the formation of the company in 1994 and holding the role of managing director for the last nine years. Andy will remain within the Duncan & Toplis group, continuing to work with his portfolio of clients as a business services director. Mr Wilson said: “It’s exciting to be joining the Duncan & Toplis group as managing director of Castlegate Financial Management. I’ll be bringing my passion to see lives transformed through bespoke client-focused financial planning and advice, helping to further enhance the growth of the company during this next period. “My previous roles have seen me lead on transformative improvements in client experience and adviser leadership, as well as innovation in investment management with the largest pension provider in the UK. “I look forward to bringing these skills to my role at Castlegate Financial Management, which sits in the top quartile of financial advice firms in the UK. This puts us in a strong position to serve a wide range of customers with intelligent and bespoke investment solutions, as well as help clients navigate the complexities in the new norm of volatile global markets. “It’s an exciting time for Duncan & Toplis and the Castlegate team. I can’t wait to get stuck in and help build on the success Andy and the team have achieved.”  

Funding uncertainty looms over £200 million North Hykeham Relief Road

April Lara
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Funding uncertainty looms over £200 million North Hykeham Relief Road

Lincolnshire County Council is still waiting for confirmation on government funding for the £200 million North Hykeham Relief Road, which would complete the ring road around Lincoln. Despite previous commitments, uncertainty has grown following a review of capital spending ordered by the new Labour government.

The previous Conservative administration had pledged £110 million toward the project, which is expected to cost around £190 million. If that funding is withdrawn, council leaders warn the project may not move forward unless alternative sources can be secured.

While the Department for Transport has not officially halted funding, the council must submit a final business case before the government releases funds. That approval is expected in autumn, but the outcome remains uncertain.

Work is still progressing, with archaeological surveys, site clearance, and utility diversions planned for later this year, followed by major construction in early 2026. However, concerns remain that without government support, the relief road could be at risk of cancellation.

Local officials continue to push for clarity, emphasising the road’s importance in reducing congestion and improving transport links in the region.

Visit Hull launches marketing campaign to support independents

Stuart Pearcey
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Visit Hull launches marketing campaign to support independents
A new campaign to put Hull’s independent businesses in the spotlight has been launched by Visit Hull. ‘Independent Hull’ intends to inspire residents and visitors to engage with the city’s unique independent food, beverage, attraction and retail offerings, highlighting the distinctive experiences that these businesses provide. From historic shopping arcades to bustling markets and stylish contemporary spaces, these businesses are at the heart of what makes Hull such a special place to shop and explore. The Visit Hull website now provides a comprehensive guide, bringing together businesses from key areas of the city centre and profiling each independent business. The campaign aims to show that independent businesses bring unique products, personal service and a distinctive charm that can’t be found in elsewhere, also helping to sustain Hull’s economy, creating jobs, fostering entrepreneurship and ensuring that the city’s shopping experience remains one-of-a-kind. Councillor Paul Drake-Davis, portfolio holder for regeneration at Hull City Council, said: “Hull is lucky to have a wealth of fantastic local independent businesses on offer. By supporting these businesses, we can all help to contribute to the city’s economy, as well as helping to preserve its unique character. “Independent shops are a valuable part of our community and this campaign looks to highlight their importance, with something out there for everyone.”
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