York-based Helmsley Group is repurposing Cumberland House, a city centre, Grade one-listed building overlooking the River Ouse.
Initially pursuing a residential scheme that honoured the building’s original use, Helmsley Group’s original planning application was refused by York City Council despite strong interest from a purchaser and backing from conservation officers.
Leading to a rethink of their approach, now – following an introduction made by James Ratcliffe, head of commercial agency at Colenso – Helmsley Group has agreed with Shaun Binns and Jamie-Leigh Binns, owners of York restaurant Lil’s Bar and Bistro, to launch a new hospitality venture at Cumberland House.
The plans will see the site sensitively repurposed, restored and transformed from its prior office use into a new eatery.
James Ratcliffe said: “We are incredibly fortunate to have found such dedicated stakeholders in Shaun and Jamie. Their commitment to the area and enthusiasm for this opportunity are exactly what’s needed to breathe new life into this important building.”
Together, a revised planning application has now been submitted.
Tom Riddolls, development surveyor at Helmsley Group, added: “It’s fantastic to have Shaun and Jamie on board to continue Helmsley Group’s vision of bringing York’s vacant heritage buildings back into use.
“This project is not just about preservation; it’s about protecting York’s unique character for future generations.
“We are now all hoping for swift support for our plans from York City Council so that this landmark property can finally be restored and given a meaningful, sustainable future.”
Hospitality venture planned for historic York building
The restoration of an historic building in York has taken a major step forward, as it looks set to become a new hospitality venture.
UK economy contracts after better than expected first quarter
After seeing better growth than expected in the first quarter of 2025, the UK economy has shrunk.
According to new figures from the Office for National Statistics (ONS), GDP (gross domestic product), a key measure of economy growth, is estimated to have fallen by 0.3% in April, following growth of 0.2% in March.
It reflects, across key sectors, services output dipping by 0.4%, production output falling by 0.6%, and construction output conversely growing by 0.9%.
Alpesh Paleja, deputy chief economist, CBI, said: “After bumper growth at the start of the year, the economy has started off the second quarter on a disappointing note. Weaker momentum is more in line with the picture painted by our own business surveys.
“The sunniest April on record clearly boosted retail sales, but this wasn’t enough to offset drags on activity elsewhere, including some payback from sectors that saw strong growth in March. In addition, the onset of the US’ “Liberation Day” tariffs; the ensuing volatility in financial markets; and the ramp up in uncertainty may have taken the edge off activity for some businesses.
“The latest data means that, at best, we’re heading for near-stagnation over the second quarter. While we expect some pick-up in growth momentum further ahead, an environment of high uncertainty and cost pressures is still proving a significant headwind to activity.
“Looking ahead, while we expect some growth momentum to be sustained, an environment of high uncertainty and cost pressures is proving a significant headwind to activity. Yesterday’s Spending Review rightly chose to prioritise investment in clean energy and R&D, as well as delivering a much-needed boost to housing, transport, and infrastructure.
“But businesses are labouring under the cumulative burden of rises in NICs and the National Living Wage. With the Autumn Budget now coming sharply into focus, the Chancellor should prioritise squashing tax rumours and speculation that risks stymieing confidence and hitting investment plans further.”
CMA probes Evri–DHL ecommerce merger
The UK’s Competition and Markets Authority (CMA) is reviewing the proposed merger between parcel delivery firm Evri and DHL Group’s UK ecommerce logistics division. The deal, announced in May, would see DHL Group take a significant minority stake in Evri, while Apollo-managed funds retain majority control.
The combined operation would bring together more than 30,000 couriers and van drivers, 12,000 employees, and a fleet of 8,000 vehicles. Together, they are expected to handle over one billion parcels and one billion business letters annually.
The CMA is assessing whether the transaction could substantially lessen competition in the UK parcel delivery and ecommerce logistics market. As part of its standard process, the regulator has invited to comment from interested parties, which closes on 25 June.
Evri, formerly Hermes UK, traces its origins to Grattan Mail Order in Bradford in 1974. It currently operates over 10,000 out-of-home locations and has a growing network of automated hubs and depots nationwide. The merger is positioned by both parties as a move to enhance consumer and business delivery options through improved scale and efficiency.
British Business Bank expands financial reach to support growth
The British Business Bank’s financial capacity is being raised to £25.6 billion, allowing it to scale up investments to approximately £2.5 billion annually. The expansion aims to unlock significant private capital and support high-growth, innovation-driven UK firms, particularly those in the life sciences, deep tech, and venture capital sectors.
The move follows confirmation of governance and financial reforms to the Bank, as outlined in the latest government Spending Review. These changes are expected to be implemented by the end of the current financial year.
The Bank has already backed 22 of the UK’s current unicorns through its equity programmes, representing over half of all such firms in the country. With its expanded mandate, the institution is expected to play a pivotal role in delivering the government’s upcoming Industrial Strategy and broader ambitions for regional growth and scale-up funding.
Business confidence rebounds but hiring and demand remain uneven
New data from NatWest’s May Regional Growth Tracker points to a modest resurgence in business confidence across the UK, with firms reporting more optimistic outlooks and slight improvements in activity levels. Half of the 12 monitored regions reported growth in output, while sentiment about future activity rose in all areas. The North West and London saw the largest monthly increases in expectations, with the West Midlands remaining the most optimistic overall.
However, the recovery remains patchy. Wales posted the fastest growth in business activity during May, while London recorded its weakest performance in two and a half years. Inflows of new business rose only in Wales and stabilised in the East of England, with all other regions seeing a drop, led by a sharper decline in the East Midlands.
Employment figures were generally down, with Scotland being the only region to report a slight increase in headcount after six months of stagnation. The North West continued to cut jobs for the eighth straight month, though the pace slowed.
Order backlogs fell across the board for the third consecutive month, with the North West experiencing the most significant drop in outstanding work. Scotland saw the mildest decline.
Pricing trends moderated slightly, with the rate of increase in average prices charged slowing in every region compared to April. Wales recorded the biggest fall in output price inflation, while Northern Ireland and the West Midlands saw the highest ongoing pressure.
Input costs rose at a softer pace than the previous month but remained above historical norms. The South West and East of England faced the steepest increases, while Scotland saw the most subdued rise. Businesses continue to raise prices to manage persistent cost pressures, including rising labour expenses following April’s national insurance changes.
Construction ball raises £30,000 for St Luke’s Hospice
The Sheffield Charity Construction Ball has raised £30,000 for St Luke’s Hospice.
Held at the Crowne Plaza Royal Victoria Hotel, the black-tie evening brought together over 230 construction and property professionals to raise vital funds for Sheffield’s leading palliative care provider.
Organised by Arup, HLM Architects and Rider Levett Bucknall (RLB), guests enjoyed a three-course meal, live entertainment by acclaimed magician Ben Hanlin and inspiring speeches from St Luke’s chief executive, Jo Lenton, and RLB managing partner, Matt Summerhill.
A highlight of the night was the charity auction, which featured limited-edition artwork titled ‘Here For Sheffield’ by Sheffield-based artist, Luke Horton, alongside VIP Tramlines tickets. The piece was bought for an impressive £2,000 by winning bidder, Wayne Balance, from Apex Consulting.
This year’s chosen charity, St Luke’s Hospice, is the primary provider of specialist palliative care for adults with terminal illnesses in Sheffield and its surrounding areas.
One of the charity’s main goals for the evening included raising funds to support the purchase of additional cuddle beds.
Cuddle beds are a wider hospital-style bed designed to allow patients and their loved ones to lie side-by-side, offering physical closeness during end-of-life care.
Thanks to the generosity of guests, donations on the night covered the cost of two cuddle beds, each valued at £15,000.
Matt Sheridan, senior fundraising manager at St Luke’s Hospice, said: “We are truly humbled by the generosity of everyone who attended this year’s Sheffield Charity Construction Ball.
“In a time when hospice fundraising and resources are under increasing pressure, support like this is not only appreciated, it is absolutely vital.
“The incredible efforts of the organising teams at Arup, HLM Architects and Rider Levett Bucknall, along with the wider Sheffield business community, are a shining example of what can be achieved when people come together with a shared commitment to making a difference.
“Events like these don’t just raise funds, they raise awareness, build connections and help ensure that St Luke’s can continue to provide outstanding care to those who need it most.
“We are incredibly thankful for this support, which plays such an important role in sustaining our services.”
Over the past 23 years, the Ball has raised a total of £401,300 for a variety of local causes.
Past beneficiaries have included Sheffield Children’s Hospital, Weston Park Cancer Charity, Hallam Cash for Kids, The Prince’s Trust and Bluebell Wood.
Royal recognition opportunity for high-performing businesses
North Lincolnshire businesses have the opportunity to gain national prestige through the King’s Awards for Enterprise, with applications now open until 9 September 2025.
Open to companies, non-profits, and public sector bodies with at least two UK-based employees, the awards celebrate excellence across four categories: innovation, international trade, sustainable development, and promoting opportunity through social mobility.
Winners benefit from national visibility, use of the King’s Awards emblem, and access to high-level networking via a Royal reception. Honourees also receive an official visit from the Lord-Lieutenant, acting on behalf of His Majesty The King.
The awards are designed to recognise organisations with strong environmental, social, and governance (ESG) credentials, making them especially relevant to B2B firms looking to enhance credibility, attract partnerships, and scale operations in competitive markets.
North Lincolnshire Council has encouraged local businesses across key industries, including engineering, manufacturing, and logistics, to leverage this platform for growth and recognition. Recent winners such as Wrendale Designs have reported tangible benefits in staff morale, global brand perception, and new market access following their award.
The application process is now live. Interested businesses are advised to begin preparations early to meet the September deadline.
Rabobank backs third UK solar project with Aura Power
Aura Power has secured financing from Rabobank for its third UK solar installation, the 49.9MW Grimsby Solar Farm in North East Lincolnshire. The funding adds to two previous deals between the developer and the Dutch bank: £44 million for the Kemble Solar Farm in Gloucestershire and £33.1 million for Burtree Lane in County Durham.
All three projects fall under the UK’s Contracts for Difference Allocation Round 5. Preliminary work on the Grimsby substation is already underway, with complete construction due to start shortly and energisation targeted for early 2026.
This move strengthens Aura Power’s UK pipeline, which totals 0.5GWp and is expected to be built out by 2028. The Bristol-based firm also has a global solar and battery energy storage pipeline of approximately 12GW.
Rabobank has been accelerating its UK clean energy portfolio. In recent months, it committed £135 million to Aukera Energy for five solar projects totalling 220MWp and co-financed a £42 million loan with ING for 125MW of battery storage projects led by Field. It also supported Enray Power in closing finance for the 68.5MWp Camblesforth Solar Farm, which includes a co-located 24MWh battery.
Qualcomm to acquire Leeds’ Alphawave Semi
US intelligent computing firm Qualcomm has reached an agreement for the terms and conditions of its acquisition of Leeds-based Alphawave Semi, with an implied enterprise value of approximately $2.4bn.
The acquisition of Alphawave Semi aims to further accelerate, and provide key assets for, Qualcomm’s expansion into data centers.
Alphawave Semi is a leader in high-speed wired connectivity and compute technologies delivering IP, custom silicon, connectivity products and chiplets that drive faster, more reliable data transfer with higher performance and lower power consumption.
Alphawave Semi’s products form a part of the core infrastructure enabling next generation services in a wide array of high growth applications, including data centers, AI, data networking and data storage.
“Under Tony’s leadership Alphawave Semi has developed leading high-speed wired connectivity and compute technologies that are complementary to our power-efficient CPU and NPU cores,” said Cristiano Amon, president and CEO of Qualcomm Incorporated.
“Qualcomm’s advanced custom processors are a natural fit for data center workloads. The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.”
“Qualcomm’s acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers,” said Tony Pialis, president and CEO of Alphawave Semi.
“By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities. Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in AI compute and connectivity solutions.”
This acquisition of Alphawave Semi is expected to complete during the first quarter of 2026.
University of Sheffield spinout company awarded £2.3m to develop motor neuron disease therapies
Biotechnology company Crucible Therapeutics, a University of Sheffield spinout company, has been awarded £2.3m to develop breakthrough therapies that address underlying causes of motor neuron disease (MND).
The grant from the Innovate UK Biomedical Catalyst program will support the advancement of Crucible’s differentiated siRNA program aimed at treating MND, which is also known as amyotrophic lateral sclerosis (ALS), and other devastating neurodegenerative conditions.
The funding will enable Crucible, in partnership with Sheffield Institute of Translational Neuroscience (SITraN), to scale up manufacturing and advance its lead clinical candidate into pivotal non-clinical safety studies – an essential step toward initiating first-in-human clinical trials for MND/ALS.
Crucible’s unique therapeutic approach targets rogue RNA molecules and toxic proteins that contribute to neurodegeneration, aiming to protect motor neurons from progressive damage. This innovative strategy holds promise as a first-in-class, disease-modifying treatment for patients affected by MND/ALS.
MND/ALS is a progressive, fatal neurodegenerative disorder characterised by muscle weakness, paralysis, and ultimately respiratory failure. Toxic protein accumulation, seen in the vast majority of MND cases, directly damages motor neurons, disrupting nerve signaling and leading to severe muscle atrophy and loss of function that defines the disease.
Jonathan Foley, executive director and CDO of Crucible Therapeutics, said: “We are thrilled to receive Innovate UK funding as part of the Biomedical Catalyst, which will accelerate our research into a potential new treatment for ALS. This funding will support crucial translational research that brings us a step closer to delivering a therapy that could make a real difference for people living with this devastating disease.”
