New Joint Venture to deliver development schemes across the north

Tess Egginton
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New Joint Venture to deliver development schemes across the north
GMI Developments Limited and Miller Developments have created a new Joint Venture, GMI Miller Limited, to deliver development schemes across the north of England. Following the acquisition of the partnership’s first site, an 80-acre site in Scholes Leeds for up to 600 new homes, the venture is close to agreeing terms on an employment site and a 500-unit edge of centre residential development. Chris Gilman, Managing Director of GMI, said: “We are delighted to have joined forces with Miller Developments to initially bring forward the development of our site at Scholes. Their extensive track record and strong capital base make them the ideal partner for both this site and the other opportunities we are working on. We look forward to a long and successful relationship.” GMI Developments, part of the GMI Holdings Group, has a long track record of bringing forward complex regeneration projects in partnership with both public and private sector organisations. The Directors have successfully delivered some of the region’s most high-profile developments including the 200-acre award-winning Thorpe Park. The company also has extensive knowledge of working with local authorities on complex regeneration schemes, including the redevelopment of Clay Cross town centre in Derbyshire. Miller Developments, which was bought out of the wider Miller Group in 2018 by its management team, is well-known for the delivery of significant projects across the UK, including the mixed-use logistics and residential project at Omega Warrington in the north. The company already controls land capable of delivering over 5,000 new homes. The privately owned and well-funded company has assets in excess of £70million which the company is keen to reinvest in further development opportunities throughout the wider UK, either directly or through further joint venture opportunities. David Hodgson, Development Director at Miller Developments, said: “The GMI Miller JV will exploit the vast experience the two companies have in acquiring, securing planning and delivering high quality employment schemes, serviced residential land and mixed-use developments across the north of England. “Seeking opportunities to utilise the equity within the company, we are currently engaging with agents to look at a variety of both strategic greenfield and unconditional brownfield sites, on and off-market, and look forward to bringing forward serviced land for the residential sector, boosting local economies through investment and job creation.”

UK logistics market remains ‘prime’ destination for global investment

Tess Egginton
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UK logistics market remains ‘prime’ destination for global investment
The UK remains a ‘prime’ destination for global investment, as deal appetite returns for logistics and supply chain management businesses. In the first quarter of 2024, 38% of deals in the sector were cross-border, highlighting the growing interest from international investors. High profile transactions included Elanders’ acquisitions of Bishopsgate Specialist Logistics, Yusen-owned ILG’s acquisition of Global Freight Solutions and Hapag Lloyds’ acquisition of ATL Haulage Contractors. The rise in cross-border activity comes as overall deal activity in the sector fell marginally in Q1. Between January and March 2024, 26 transaction were completed, compared to 27 in the previous quarter. However, total disclosed deal value rose to £372 million, up from £53 million for the previous three months. According to the latest report from accountancy and business advisory firm BDO LLP, the ‘UK M&A Update – Q1 2024’, in the first quarter of the year 42% of deals were tech-related, demonstrating that innovation is a driving force in the market, as companies seek to optimise operational performance to improve margins. Jason Whitworth, M&A partner at BDO LLP, said: “Following on from 2023, we continue to see venture capital targeting next generation technology and growth. Investment activity within the robotics and the drone delivery operations sector is still gaining momentum. “Albeit in its infancy, there is an argument that drone technology is paving the way for a revolution in delivery services, offering a sneak peek at a future where speed, efficiency and accessibility are dramatically enhanced.” He continued: “When it comes to overseas interest, with a scarcity of quality mid-market businesses not already controlled by larger global groups, there has been heightened interest in remaining opportunities, creating a real value end game for those businesses building scale and a differentiated service offering.” Deals also included London-based Skyports Series C funding led by Spain-based ACS Group, a key player in the infrastructure and construction industry. The $110m funding is set to be instrumental in advancing Skyport’s Infrastructure and Drone Service business. Elsewhere, UK logistic company EFS Global acquired pallet and parcel distribution specialists Leeds Parcel Company, Pass the Parcel and YDL; and UK delivery and logistics service provider Yodel Delivery was acquired by YDLGP, a newly formed company backed by a consortium of investors, including boutique investment bank Solano Partners Ltd, and the leadership team behind Shift, the growing UK-based logistics platform. Whitworth added: “Since the latter part of 2023, we have seen a steady stream of deal activity as companies strive to shake off the uncertainties of the past and gear up for the future. There has been an increasing number of bolt-on strategic acquisitions to bolster business growth and build scale. “What is noticeable about deal activity in Q1 is the lack of primary private equity investment, with only one direct investment deal during the quarter by HIG, which acquired DX Group. “Private equity firms appear to be in a holding pattern, waiting for clearer signs of industry-wide trading performance improvement before committing to new investment. However, private equity backed or cash-rich logistic firms are continuing to consolidate, developing their buy-and-build strategies.”

British Steel rail storage facility nears completion

Stuart Pearcey
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British Steel rail storage facility nears completion
The new new £10m rail stocking facility at British Steel’s Scunthorpe site is taking shape, and when completed this summer will stock about 25,000 tonnes of rail in 108-metre lengths. The construction, by Britcon, is part of British Steel’s strategy to support the supply of  rails for Network Rail, ensuring there is rail stock ready, as and when required, for its supply chain. It will bring to one location rails currently stored in a number of diverse locations. Rails stocked in the new facility will all have undergone the stringent testing and quality assurance checks required to meet the specification to allow immediate dispatch or welding into 216m lengths to the customer. The building will have 11 multi-gantry hoists to lift finished rail stock to customer rolling stock. From there it will be transported for installation on mainline routes within the UK.

Self-employed at greater risk of mental health issues, survey finds

Stuart Pearcey
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Self-employed at greater risk of mental health issues, survey finds

Half of all self-employed people have experienced poor mental health within the past 12 months according to new research – and that’s 22% worse than the national average.

The findings come from insurance provider Simply Business, which partnered with Mental Health at Work, a programme curated by leading mental health charity Mind, to conduct the research for the second year running.

More than 500 firms were surveyed, revealing that general feelings of stress were contributing to the compromised wellbeing of SMEs, high rates of anxiety, depression, and isolation were cited as issues too

Because of poor mental health, a third of those surveyed found it difficult to concentrate, a third fell back on smoking, drinking or eating unhealthily, and almost 1 in 5 had to adapt or reduce their working hours/hours of business.

Almost a third of those surveyed worked more than 46 hours per week – almost 10 hours more than the average working week for employed workers, according to ONS data. This is only a small change from the 2023 survey, when 33% reported working over 46 hours, meaning SMEs are continuing to work overtime to compete with challenging economic conditions.

Bea Montoya, UK COO at Simply Business, said: “Our latest survey findings underscore the challenges faced by small business owners and the self-employed in maintaining good mental health. While we’re encouraged to see a marginal improvement – which can only be explained by the astounding resilience of the sector – the challenge for SME owners to prioritise their own wellbeing remains significant.

“This situation should concern us all. Small businesses are vital to both our economic recovery and the prosperity of our communities, and this will only compound the challenges of an increasingly economically inactive population.

“The message from the SME community is clear – they want to see more support from the government, and quickly. Simply Business is committed to advocating for the support and resources needed to ensure the resilience of small businesses across the country, and we fully back their call for more support.”

City Council outsources first aid training for the first time

Stuart Pearcey
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City Council outsources first aid training for the first time
Family-run ACW Medical Services has been awarded a two-year contract for first aid training for Sheffield City Council’s 8,000 employees. It’s the first time an external provider has been selected, rather than the council’s in-house trainers. ACW was founded by Kelly and Matt Wooller in 2021, and will now train council teams weekly from three venues in the city. MD Kelly Wooller said: “This is a significant contract for our fast-growing first aid training business. We don’t use ‘typical’ one size fits all training materials or props. We adapt the training to the experiences and professional requirements of the participants. And, we make it fun! This is how we ensure our trainees get involved and retain the essential skills and knowledge we pass on to them.” ACW Medical Services have their own training centre in Dronfield and work predominantly with customers across Derbyshire and Yorkshire. Training takes place within the customer’s workplace or, as is the case with the Sheffield City Council contract, accessible venues nearby such as Sheffield United Football Club and Barnsley College.

Further new tenant moves in to burgeoning Hull business park

Stuart Pearcey
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Further new tenant moves in to burgeoning Hull business park
A wellbeing company offering services ranging from blood tests to boxing has become the latest arrival at a business park which has morphed from a military garage into a modern complex supporting more than 200 jobs. The Livewell Syndicate has relocated from offices and a training suite in Hull city centre to take three units at Base, the former Chamberlain Business Park which has undergone a transformation since being bought by Allenby Commercial three years ago. CJ Turrian, who launched Livewell with partner Dan Snow in 2019, said their clients have followed them from the previous city centre location to the new site which, as serviced accommodation, enables them to concentrate on their business. Georgia Allenby, Design and Marketing Director at Allenby Commercial, said work is under way now to create more space at the site in the face of rising demand in a range of business sectors. She said: “We have redeveloped around 70 per cent of the site and we are actively on-site working on the rest. It’s home to around 60 businesses employing more than 200 people between them, we have some exciting new tenants coming in and we are creating more space for light industrial, workshops, storage and offices. “The site is 98 per cent occupied and demand is strong, which wasn’t the case when we took on the site. People have responded to the improvements and the higher standard of accommodation.”

Ideal Heating launches trial to explore benefits of heat pumps for council tenants

Michael Fisher
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Ideal Heating launches trial to explore benefits of heat pumps for council tenants
Hull-based Ideal Heating has launched a heat pumps trial with the local authority in its home city. The Living with Heat Pumps project will explore the benefits of living in a home with an air source heat pump compared to a traditional gas boiler. Ideal Heating has worked with Hull City Council and regional net zero campaign, Oh Yes! Net Zero, to install four of its flagship Logic Air heat pumps in council homes in the city, as well as four new gas-powered combi boilers in neighbouring properties. The project will track the thermal comfort for residents, as well as the cost, energy performance and efficiency of both the heat pumps and boilers. It is hoped it will produce valuable information and experiences on the use of heat pumps in social housing. Formerly known as Ideal Boilers, Ideal Heating was founded in Hull in 1906 and the city remains home to its manufacturing facilities and its UK headquarters. The company is undergoing a £60m transformation, including new manufacturing, distribution and research and development facilities at its site in National Avenue, Hull, largely focused on the transition to heat pumps. John Jackson, Heat Pump Technical Sales Manager at Ideal Heating, oversaw the install and commissioning element of the heat pumps project. He said: “We’re delighted to be working with Hull City Council on a project which could have a real impact on the way homes in the city are heated in the future. Ideal Heating has a strong relationship with Hull City Council and shares its commitment to creating a sustainable future for all.”

Centrica, Equinor and SSE Thermal launch new Humber Hydrogen Hub projects

Tess Egginton
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Centrica, Equinor and SSE Thermal launch new Humber Hydrogen Hub projects

Energy companies Equinor, Centrica and SSE Thermal have launched plans for a collaboration of multiple low carbon hydrogen projects on the north bank of the Humber which also link to wider plans within the region.

The plans, which include the transformation of the Easington gas terminal, were launched in the Houses of Parliament to an audience of MPs, civil servants, industry bodies and regional stakeholders. Lord Callanan, the Energy Minister responsible for Hydrogen and Carbon Capture policy, spoke at the event alongside Beverley & Holderness MP Graham Stuart and representatives from Equinor, Centrica Energy Storage and SSE Thermal.

H2H Easington includes proposals by Equinor and Centrica to deliver a multi-stage green and blue hydrogen production facility which will scale up over time as a hydrogen economy develops. Since a co-operation agreement was signed between the two companies in 2022, detailed engineering studies have assessed projects which could produce up to 1.2GW of blue hydrogen production and up to 1GW of green hydrogen at Easington with initial projects commissioned by the end of the decade then expansion through the 2030s.

To unlock these ambitions, proposals for a green hydrogen electrolyser have been submitted to Government as part of the second Hydrogen Allocation Round process. If successful, this initial electrolytic hydrogen system would be operational by early 2029 and would fuel switch off-takers within the Easington terminal, displacing current natural gas demand and significantly reducing the site’s CO2 footprint by 100,000 tonnes per year. An immediate next step would include hydrogen for Sustainable Aviation Fuel (SAF), which is key to facilitating the energy transition in the aviation sector.

Such a transition would also safeguard many existing jobs within the historic gas terminal whilst creating new jobs and supply chain opportunities for the future. It is estimated that the 35-year economic impact of the green hydrogen proposals at Easington, including construction, operation and decommissioning of the facility, will be in the region of £1.5bn of gross value added, supporting thousands of jobs in the region.

In addition, the partnership will also explore a dedicated hydrogen pipeline that would link H2H Easington to Equinor’s proposed H2H Saltend hydrogen production facility at Saltend Chemicals Park, and to Equinor and SSE Thermal’s proposed hydrogen storage facility at Aldbrough on the East Yorkshire Coast. Collectively, these projects form the Humber Hydrogen Hub.

Equinor and SSE Thermal are currently consulting on the proposals for hydrogen storage at the existing gas storage site near Aldbrough. The use of the geologically unique underground salt caverns for storage helps to balance the fluctuating supply and demand of a future hydrogen economy whilst improving energy security.

The 45km hydrogen pipeline proposals also include a crossing of the River Humber to provide connectivity between north and south banks, whilst there is also potential for connection to the ‘Project Union’ gas network to expand across the wider Humber region.

Decision makers from government departments including Energy Security & Net Zero, Business & Trade and Transport, joined the Government’s ‘Hydrogen Champion’, UK Research & Innovation and the Carbon Capture & Storage Association to listen to the new proposals. Levelling Up Minister Jacob Young MP, who is also a proactive advocate of hydrogen, was in attendance. The Humber region was represented by MPs Graham Stuart and Martin Vickers, as well as representatives from the East Riding of Yorkshire Council, Humber Chamber of Commerce and the Yorkshire & Humber CBI.

Graham Stuart MP, Member of Parliament for Beverley and Holderness, said: “This is an exciting collection of projects which can help to deliver on the UK’s net zero goals and hydrogen targets whilst also supporting the Government’s levelling up agenda.

“I’m particularly proud to have such key strategic energy sites within my constituency that are attracting investment from large companies, creating new jobs for local people and supply chain opportunities for local businesses. It shows that East Yorkshire is an internationally renowned location for low carbon technologies, and this can only help to boost prosperity across the region.”

Dan Sadler, Director for Hydrogen at Equinor’s UK Low Carbon Solutions, said: “The proposals we’ve set out today demonstrate the commitment to the decarbonisation of the Humber by three of the largest players in UK energy, each with a track record of delivering ambitious schemes that reflect the changing demands of our economy.

“This is a unique opportunity to link these key sites in the Humber, pairing hydrogen production with users and storage sites to create the foundational requirements for an expanding hydrogen economy throughout the 2030s and 40s. It will help to reduce emissions whilst also stimulating economic growth.”

Martin Scargill, Managing Director of Centrica Energy Storage, said: “These projects will bring huge benefits to the Humber as we move forward to net zero. Working together, Centrica, Equinor and SSE Thermal will deliver this innovative, world leading, regional hydrogen system, that in time could see Rough connected to provide the UK with large scale, clean energy storage.

“We know that the UK will need to explore all possible options to meet its net zero target and these projects will support the country’s decarbonisation plans while creating jobs and certainty for the region’s industry in the future.”

John Johnson, Director of Development at SSE Thermal, said: “Hydrogen projects like the ones we’re bringing forward at Aldbrough can help to deliver a low-carbon future for the Humber.

“We know that all roads to net zero lead through the region and this collaboration aims to accelerate the deployment of hydrogen by linking multiple key sites and projects in support of the UK’s decarbonisation efforts. Ultimately, the Humber Hydrogen Hub can be a key enabler of a thriving hydrogen economy.”

140,000 sq ft office building in Leeds reaches completion

Tess Egginton
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140,000 sq ft office building in Leeds reaches completion
MRP’s City Square House, the new 140,000 sq ft office building next to Leeds Station, is now complete. Speculatively developed by MRP and built by McAleer and Rushe, 85 per cent of the major landmark is already let. The completion of City Square House is an integral part of the extensive public realm improvement works at City Square. The building’s high-profile tenants are global law firm DLA Piper, SME insurance specialist Markel and professional services consultancy Barnett Waddingham. Its doors were officially opened last night (Wednesday) at a grand reception with guests including the key partners and occupiers of the development. The workspace comprises Grade A office accommodation over 12-storeys including low carbon credentials, terraces on the 4th, 5th and 6th levels and extensive cycling, electric vehicle and e-bike charging point facilities. Angus Montieth, Development Director at MRP, said: “The practical completion of City Square House is a massive milestone to celebrate. We have created the best-in-class prime office development in Leeds, unrivalled in its location and with sustainability and wellbeing at the heart of its design. It boasts an impressive tenant community and we are confident that we will set a new prime rent in Leeds of £40 per sq ft. “It’s been an amazing journey and a huge collaborative effort to turn the dream of a magnificent Leeds city centre office building into reality. It is the final piece of the City Square regeneration plan and a significant investment and vote of confidence in the city. “I’d like to thank Leeds City Council, who have backed our vision from the very start and have been so supportive, our construction partners McAleer & Rushe, our quality occupiers, who vindicated our decision to develop the building speculatively, and Eamon Fox of Knight Frank, the sole letting agents. They have all played their part in the astounding success of City Square House, which is now an integral part of both the Leeds business quarter and the city’s skyscape.” Jonathan O’Neill, Senior Director at Design & Build contractors McAleer & Rushe, added: “City Square House has been an exciting, challenging and rewarding project for us. Now this iconic building is completed, we are so proud. There’s no doubt that City Square House is a magnificent addition to the built environment in Leeds city centre and a symbol of the city’s thriving economy.” Eamon Fox, partner and head of office agency at global property consultancy Knight Frank in Leeds, who advises MRP, said: “It is tremendous to see the completion of this flagship building, which provides a very genuine cause to be optimistic about the commercial property sector in Yorkshire. We expect this strong demand for the best workspace will continue. “City Square House is the iconic new office development that the Leeds market has been waiting for. It underlines the fact that Leeds is now one of the most flourishing regional cities, not just in the UK, but in Europe.”

Fresh prepared food firm acquires humous brand

Tess Egginton
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Fresh prepared food firm acquires humous brand
Bakkavor Group, the provider of fresh prepared food with a number of sites in Lincolnshire, has acquired Moorish, the UK humous brand. The Moorish brand was founded in 2012 by Julie Waddell and the product range includes the award-winning, UK-first, smoked humous. Today Moorish products are distributed across a number of major supermarket outlets and independent retailers, with revenue of over £2m. Moorish will sit alongside other brands that Bakkavor is working with, including Pizza Express, The Delicious Dessert Company, The Pizza Company and more recently Pinch. The Managing Director of Moorish, Andy Atherton, will remain in a consultancy role to support the brand transition to Bakkavor’s new ownership. Julie Waddell, founder of Moorish, said: “Since starting from my kitchen table in 2012, it’s been quite a journey to see the business grow into what it is today. I’m incredibly proud of what Moorish has achieved and have thoroughly enjoyed growing the brand and product range from scratch to success with my team. “I feel very fortunate that for the last 12 years my job has been to create innovative, delicious products that are loved by consumers across the UK. In Bakkavor, there are so many great opportunities still to explore with the brand and I will enjoy watching Moorish flourish as the new owners take it to the next level.” Mike Edwards, CEO of Bakkavor Group plc, said: “The high-quality, innovative Moorish products will be a great addition to our existing brands and will complement our existing dips business. “The Moorish brand has so much more potential than just humous and we are excited about expanding it into other relevant Bakkavor categories in the future. We’d like to congratulate Julie, Andy and the team on the great brand they have built and are looking forward to it growing further under our ownership.” A corporate finance team from Dow Schofield Watts’ Leicester office led by partner Harry Walker, director Fahim Kassam and associate director Daniel Chouciño, together with a legal team from Gunnercooke in Leicester led by Jahid Ali, advised the shareholders of Moorish. Bakkavor Group plc were advised by a team from Gowling WLG’s Birmingham office, led by Chris Towle and Andreea Serban. Commenting on the deal, Harry Walker added: “We’re really pleased to have found a fantastic partner for Moorish moving forwards. Working with Julie, Andy and the team to prepare the business for sale and then identify the right home has been a pleasure. We are looking forward to seeing Moorish in even more outlets in the future and continuing to enjoy their amazing products!”
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