< Previous10 Business Link www.blmforum.net COMMERCIAL PROPERTY Closed stores, lesser footfall and a lack of respect – city and town centres have taken a beating since COVID, but now local councils are stepping up to tackle the issue. I t’s obvious to say that city centres have taken a beating in recent years – even decades. Ever since online shopping became a thing, footfall has fallen and stores have closed, and the pandemic and lockdown didn’t make that any easier. The reality is that in a more online and connected world, meeting up on a high street or in a town or city centre just isn’t as important anymore. It’s not necessary. That, however, has led to many city centres struggling, and commercial property prices fluctuating. More than that, it’s led to many properties being transformed to office space, which solves the issue but would in the future mean city centres filled with nothing but offices. Not exactly ideal. That’s why many cities and towns in Yorkshire and Lincolnshire are working on revitalising or changing city centres in their own, unique ways. Plans for a new, revitalised market at the heart of Brighouse have been revealed as part of the £19 million Brighouse Deal investment in the town due to be delivered over the next few years. The Brighouse Deal Board, made up of representatives from the town’s private and voluntary sector, community Reinventing the high street Reinventing the high street 10-13.qxp_Layout 1 06/06/2022 14:45 Page 1www.blmforum.net Business Link 11 COMMERCIAL PROPERTY 13 Á and residents’ groups, and Calderdale Council, are now consulting the public on the latest proposals. The Government Department for Levelling Up, Housing and Communities has to receive summary business cases for these proposals by the end of June and, assuming funding is provided, construction is expected to begin in 2023 and be completed by the end of March 2026 at the latest. The current plans are still being developed by a team led by global construction consultancy, Turner & Townsend, which also includes Bond Bryan Architects, Xanthe Quayle © stock.adobe.com/Jon Le-Bon Landscape Architects, Aspinall Verdi Regeneration Consultants and Marketplace Europe Market Consultants. Once finalised, the business cases will go to the Brighouse Town Deal Board and Calderdale Council for approval before being submitted to the Department for Levelling Up, Housing and Communities. Similar works are being taken in Sheffield, where grants of up to £50,000 could be available to businesses to transform under-used spaces on the High Street. Following the impact of the pandemic on city centre footfall and trade, Sheffield City Council are working to support local businesses to revive empty spaces and bring vibrancy to areas of the city centre that have struggled in recent years. Expressions of Interest for the ReNew Fund are welcome for prime locations on and around Fargate and High Street, including Chapel Walk, Orchard Square, Norfolk Row and Surrey St. Businesses from all industries are encouraged to apply, including food and beverage, retail, leisure, hospitality and arts and culture. Fargate and High Street are at the centre of the Council’s plans to reimagine the city centre and will soon be home to five-storey Event Central, a year-round events and exhibition space, as well as a new outdoor performance space and improved lighting and seating facilities. The improvements will be funded by the £20.8m pot of funding from the Future High Streets Fund which the Council successfully bid for last year, and public sector investment. Hull City Council, meanwhile, has published a decision record confirming the award of contract to Focus Consultants 2010 LLP for the sum of £71,344, to support the delivery of the refurbishment works at Queens Gardens, which are scheduled to take place between spring 2022 and winter 2023. This aspect of the project focuses on the provision of specialist quantity surveying advice and support, which is not available in-house. The £11.7m Queens Gardens redevelopment includes the improvement of accessibility and visitor flows, delivery of structural repairs through rebuilding the perimeter walls, introduction of bespoke pieces of public art, improvement of biodiversity and the regeneration of a much-loved open space. The project will make the gardens fit for purpose, futureproofing the space and its ability to host large-scale events. The history of the gardens will be incorporated in its design, reconnecting it with the origins of the space as a former dock. 10-13.qxp_Layout 1 06/06/2022 14:45 Page 2Armstrong house Armstrong House, Armstrong Street, Grimsby, North East Lincolnshire DN31 2QE Tel: (01472) 310301 Email: s.fisher@blmgroup.co.uk Superb Location - - Close to the ports of Grimsby & Immingham - Great motorway links - Close to the town centre Secure off street parking High speed internet availability A range of affordable office sizes 3 3 3 3 Last remaining office suites Prime location in Grimsby Offering a prime position in Grimsby, Armstrong House on Armstrong Street is ideally located. Close to the ports of Grimsby and Immingham, motorway links and the town centre, off-street parking is also available for all staff and visitors, meaning it’s convenient too. Our spacious, welcoming offices are located on the ground floor and are both secure and CCTV-monitored, giving you the ultimate peace of mind. At Armstrong House, when it comes to affordability and with a range of office sizes there are opportunities for all types of business. If you require virtual office services, prices start from just £15 per month. For more information, or to discuss your office requirements call 01472 310301. 10-13.qxp_Layout 1 06/06/2022 14:45 Page 3www.blmforum.net Business Link 13 COMMERCIAL PROPERTY In Lincoln, the City of Lincoln Council have confirmed works to refurbish Lincoln Central Market. Initial works began in April to the grade II listed Central Market following investment from Historic England through the High Street Heritage Action Zone (HSHAZ) scheme, which has enabled a programme of historic building restorations designed to revitalise the area and uncover the city’s rich history. Some £5.9 million investment has also been earmarked for the project thanks to a successful bid for funding through the Be Lincoln Town Deal, which has seen £19 million awarded to the city by government to drive economic regeneration and deliver long-term economic and productivity growth. The vision is to stem the decline in footfall, occupancy and turnover by reinventing the market to create a hybrid offer which combines local produce, food and non-food retailing, with expanded food and beverage and communal dining. The addition of the mezzanine level will allow for additional seating and flexible uses. The creation of the standalone restaurant unit within the new two storey extension, will create a further ‘destination’ dining space as well as supporting the evening economy. © Matthew Jones Photography - www.matthewjonesphotography.co.uk An artist’s impression of how the Brighouse open market might look © stock.adobe.com/Lucian Milasan © stock.adobe.com/calumsmith0308 10-13.qxp_Layout 1 06/06/2022 14:45 Page 414 Business Link www.blmforum.net AGRI-BUSINESS SPOTLIGHT benefit The agri and agri-tech industries are constantly on the look for more ways to make crops and livestock resilient and sustainable. With a reduction in red tape and new agri-tech agreements on the way, our region might be looking to finally reap the benefits of that. Reaping the 14-17.qxp_Layout 1 06/06/2022 14:47 Page 1www.blmforum.net Business Link 15 AGRI-BUSINESS SPOTLIGHT T he agricultural industry has never been what one could call stable – ironic, given the tens of thousands of years it has been around. With temperatures rising due to global warming, weather becoming unpredictable and flooding becoming increasingly common across our region, the stability of farming is becoming even worse. Combine this with a war in Ukraine putting pressure on food supplies world-wide, Brexit complicating the labour market and the price of fertiliser rising drastically, and it’s clear to see that the industry is one under extreme pressure. It is also, however, one that cannot be allowed to fail. The same was said about the much-maligned banks, and yet far worse than some economic instability will face the country if the agri-industry suffers an extreme shock while Ukraine’s supplies of wheat and grain are impacted. Clearly, something needs to be done. What the Government are hoping will help is no doubt the new Genetic Technology Bill, which was introduced in Parliament on the 25th May. This bill, as claimed by DEFRA, will make the UK the best place in the world to invest in agri- food research and innovation. The bill will do this by cutting much of the red tape surrounding agri-food tech in order to promote the growth of more resilient, nutritious, and more productive crops. This resilience will theoretically be necessary in the coming years and decades if the trend of ever-more unpredictable weather patterns continues as they are expected to. DEFRA claims the bill will remove unnecessary and backwards bureaucracy put forth by the EU around gene-editing that is holding the UK back, and while this is language certain to toe the line with Tory policy on blaming the EU for everything and touting the benefits of Brexit, the changes could result in more © stock.adobe.com/DIgilife 16 Á 14-17.qxp_Layout 1 06/06/2022 14:47 Page 216 Business Link www.blmforum.net AGRI-BUSINESS SPOTLIGHT © stock.adobe.com/Seventyfour investment in the UK as long as they go far enough and are implemented correctly. The question then, will be whether the changes will be accepted by the UK populace. There’s not much point talking about gene-edited crops and livestock if consumers will refuse to eat it. One needs only look back to the furore around GM Crops years ago to see the public sentiment, and although the situation isn’t the same, it’s hard to look at the challenges we’ve had in convincing people to take a lifesaving vaccine and wonder if similar conspiracy theories won’t be abound about what the “controlling and deep-state government” will be putting in our beef, pork and cereals. It’s all nonsense of course, but that won’t matter if the news isn’t delivered in an understandable, sympathetic and believable manner, and there may well be concerns that the current Government under Boris Johnson has damaged that trust somewhat. It is a shame, too, because the move towards gene-edited and precision breeding can create safer food by removing allergens and preventing the formation of harmful compounds in food. Globally, between 20 per cent and 40 per cent of all crops grown are lost to pests and diseases. Precision breeding has the potential to create plant varieties and animals that have improved resistance to diseases; helping to reduce our reliance on pesticides and antibiotics, reduce impacts on the environment and improve the welfare of animals. While it may also come at an unwelcome time for many farmers, the Government’s drive for Net Zero carbon emissions and more sustainable farming is something many in the industry will have to get used to. Emissions from UK farms are reported to account for 10% of carbon emissions in the UK, and even more of Nitrous Oxide. The National Farmer’s Union (NFU) of England and Wales has pledged to become carbon neutral by 2040, this has led to more agri-tech agreements and initiatives with other countries. One such initiative has seen representatives from seven UK organisations undertake a three-day tour of agricultural R&D sites in the Netherlands. At the famous Seed Valley, new initiatives such as miniature cauliflower or hamburger lettuce are being grown, allowing for greater yields from smaller sources of land, and which are much more resilient to drought, more suitable for modern farming methods or are 14-17.qxp_Layout 1 06/06/2022 14:47 Page 3www.blmforum.net Business Link 17 AGRI-BUSINESS SPOTLIGHT Adaptive, resilient and innovative Steve Robinson, director at Nicholsons Chartered Accountants, breaks down some of the challenges being faced by the Agri industry. Adaptable, resilient, and innovative. A few words I’d use to describe our farming community. Every year they start with a blank canvas and a field of uncertainty. Planning can only take you so far, but the unpredictable variable of the weather can have a significant effect each year. The impact of global warming has brought about more extremes, be it drought or floods, and adapting to these changing conditions has become an invaluable skill that all successful farmers possess and is important to navigate each year. The past year has not only seen the need to be agile regarding the weather, but the impact of COVID-19, Brexit, and Russia’s invasion of Ukraine, all of which have had a significant impact on key commodities. Fertiliser prices are as high as £1,000 per tonne, up over 350% from just 12 months ago and fuel prices have also escalated in the last year. Grain prices have also increased and so it’s a worrying period of uncertainty at a time when the progressive reduction of the BPS is kicking in as well. Projecting income can therefore be difficult for those involved within farming and even more difficult over the coming years. It is more important than ever to adapt, and to invest in innovative ideas which the Agri-tech space is working hard to support. It is vital that advisers are also able to adapt and be agile in terms of the support and advice, something we at Nicholsons are skilled and passionate to deliver. Steve Robinson FCCA ACA, director, Nicholsons Chartered Accountants more sustainable. This, combined with movement toward robotic-assisted agriculture as a means to combat both the cost and time associated with farming, the emissions from vehicles and the difficulties in hiring thanks to a loss of cheap labour coming in from Eastern Europe after Brexit, are working toward streamlining the agri industry. That’s not to say implementing any of this will be cheap. Innovation rarely is. The financials around upgrading or advancing farms are likely to be significant, and while the Government might offer subsidies along the way, it’s hard to predict how reliable or early those will come. It’s hard to predict much of anything with the Government at the moment other than more scandals. With the price of fertiliser expected to last another two years thanks to the war in Ukraine (and it could get worse if further instability occurs) farmers and businesses may have few options other than to stomach the costs, seek loans or raise capital however they can. There may not be an optimal and affordable time to adapt, and those that wait for it might find themselves struggling against those who invest. 14-17.qxp_Layout 1 06/06/2022 14:47 Page 418 Business Link www.blmforum.net CONSTRUCTION © stock.adobe.com/Halfpoint 18-21.qxp_Layout 1 06/06/2022 14:48 Page 1www.blmforum.net Business Link 19 CONSTRUCTION G enerally considered a sector of great security, the housing market is currently experiencing a boom, with house prices soaring. Yet, underneath this, inflation is affecting the construction industry like any other. In the aftermath of COVID-19, the sector was already undergoing quantity issues with supply chain disruption. Difficulty accessing vital materials has caused the cost of supplies to increase exponentially, recently as high as 50%. Additionally, inflation also rose by 9 per cent in the 12 months to April, according to the Office for National Statistics. This will inevitably have a knock-on effect for the consumer, with experts warning that the housing affordability gap is widening, with increased numbers of people finding it difficult to access mortgages. How can the industry resolve this impending crisis? The largest issue facing the construction industry is sales vs volume. Pressures on the supply chain, already concerning before the war in Ukraine, has caused inflation. Heavy building materials, the largest product category in the sector, have seen increased value (have been bought for) of 17.4%, but have only increased in volume (amount sold) by 5% in the first quarter of 2022. This product category hosts some of the most energy and labour-intensive products, such as bricks, cement, and plasterboard. This adds to inflation concerns due to the additional costs of using the materials. Even more affected are timber and joinery products. Year on year analysis shows the value up by 21.4%, yet volume is down by 11.3%. This amounts to an incredibly significant price increase of 36.9% since early 2021. Chief Executive of the Builders Merchants Federation, John Newcomb, warned that the growth figures should not overshadow the genuine disparity issue High demand and low supply The demand for residential and commercial construction has never been higher, but with a war in Ukraine and a worker shortage closer to home, the supply of needed goods is under threat. 20 Á High demand and low supply 18-21.qxp_Layout 1 06/06/2022 14:48 Page 2Next >