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Restoration of Hull's landmark Burton building progresses under Wykeland plans

2025-10-08 04:59:11

A landmark historic property in Hull has been revealed after undergoing a major regeneration by a city-based developer. The 1930s Burton building - the original home of menswear retailer Burton - has been re-established by Wykeland Group as commercial and leisure space. Scaffolding has now been removed from the prominent art deco property, which once completed will provide 12,700 sqft of prime city centre space over five floors. Replacement granite cladding for the building - now called Burton House - has been sourced from the same quarry in Norway as the original stone, which dates back to the mid-1930s. And its art deco windows have been replaced with new signage to be installed. Work so far on the upper floors has refurbished the original lift and now internal walls will be removed to create open-plan work areas. The project includes 2,400 sqft of retail and restaurant space on the ground floor and 1,600 sqft of basement area that could be used for back-of-house. On the first, second and third floors, there will be 2,500 sqft of office and commercial space. Jonathan Stubbs, Wykeland development director, said: "There has, unsurprisingly, been a huge amount of excitement and anticipation surrounding the regeneration of the Burton building. As one of the best-known landmarks in Hull, we’ve approached this project with a great deal of care and sympathy. With the scaffolding now removed, and the restored exterior of the building revealed, people can envisage how Burton House will transform the entrance to Whitefriargate. "As the project has progressed, we have had growing levels of interest from potential leisure and retail occupiers of the ground floor and basement accommodation, looking to make the most of this rare opportunity to move into a prime, regenerated city centre space. We expect that demand will further intensify now people can see the quality of the restoration we are carrying out." Grant funding for the Burton House project includes £750,000 from the Levelling Up Fund Grant Scheme, allocated by Hull City Council and a further £450,00 from Historic England. For Wykeland, the project is the latest part of long-term regeneration effort that includes a number of its properties between Whitefriargate and Alfred Gelder Street. Coun Paul Drake-Davis, Hull City Council’s portfolio holder for regeneration, said: “It’s wonderful to see Burton House being rightly restored to its former glory. For people visiting the city centre, it is a symbol of the wider regeneration of Hull which simply could not happen without companies like Wykeland.

Games Workshop shares surge after positive trading update, driven by Warhammer sales

2025-10-03 10:59:00

Shares in FTSE 250 listed Games Workshop leapt after the market opened, buoyed by a positive trading statement. The stock of the business behind Warhammer surged nearly 14% in the initial trading session, following an upbeat announcement to investors this morning. Games Workshop expressed contentment with its performance since the previous update in late September, reporting that it was "ahead of expectations", as reported by City AM. It specified: "The Board's estimate of the results for the six months to 1 December 2024, at actual rates, is core revenue of not less than £260m, compared to £235.6m, in 2022/23." Additionally, it expects "licensing revenue of not less than £30m", up from £13m recorded in 2023/24, and foresees a pre-tax profit "is estimated to be not less than £120 million, compared to £96.1m." These projections follow a significant shareholder backlash prompted by hefty bonuses handed out to senior executives. At its last trading update posted in September, the company headquartered in Nottingham faced substantial opposition at its AGM, with almost 21% dissenting against its remuneration report and close to 27% opposing its pay policy. Back in July, leadership celebrated the company's record-breaking results, branding them as heralds of "exciting times" ahead. In recent trading periods, Games Workshop's shares have risen 37.11% over the past half-year and 23% year-to-date. Russ Mould, the investment director at AJ Bell, said: "Shares in fantasy miniatures outfit Games Workshop traded at record highs as the company revealed trading is running notably ahead of expectations for the first half of its financial year." He highlighted a significant factor contributing to the robust figures: "A key feature of the strong numbers is a big uplift in licensing revenue driven by sales of the Space Marine 2 video game and before the company announces its half-year results in full in mid-January there may be news on its tie-up with Amazon. The agreement, to create a Warhammer 40K film and TV series, is close to a self-imposed deadline of 31 December to agree 'creative guidelines'. "The beauty of licensing income is it comes with negligible extra cost for the company and therefore is highly profitable." "Games Workshop looks to have significant untapped potential in its intellectual property and fantasy worlds. Globally, it has only just begun to explore market opportunities. "Having staff passionate about games, painting and collecting miniatures is a bonus for its store network. Rather than simply being run by people who just show up to work and perform tasks as requested, the stores are manned by individuals as keen about the subject matter as the customers. That enthusiasm can be infectious and keeps customers loyal and the tills ringing. "Being vertically integrated, Games Workshop controls everything from design to sales, allowing efficient cost optimisation and pricing control. It continues to be a unique business on the UK market and that has helped it attract a premium valuation."

Manchester's Northern Quarter set for transformation as Church Street car park faces demolition

2025-10-01 12:46:21

Manchester council is preparing for a major transformation of a key site in the Northern Quarter. The city's leadership is seeking proposals from developers to redevelop the Church Street multi-storey car park into a ‘landmark development’ featuring a new public square. While the 685-space facility currently serves residents and visitors seven days a week, offering parking permits via the town hall, municipal authorities deem the structure ‘surplus’, saying it is a magnet for anti-social behaviour and is unsuitable for the area. . Coun Bev Craig, Manchester City Council's leader, envisions a 'world-class' future for the site, saying: "This is a unique opportunity to deliver a landmark redevelopment of this site and deliver a project that will transform this part of our city centre through a world-class, mixed-use development - including exemplary public realm." She added: "Our Northern Quarter is proudly and fiercely independent and we would expect proposals to understand intimately the context of the neighbourhood and present plans that pay homage to the history and heritage of the area to support the next generation of independent businesses to thrive." In tribute to its historical roots, the new development will adopt the name St Paul’s, echoing the church that once graced the location, reports the Manchester Evening News. The council has outlined its vision for the 1.54-acre site, emphasising that any development should be welcoming, ambitious, and boast 'world-class architectural quality', while honouring the heritage and individuality of the Northern Quarter. The town hall is eager to see the area revitalised with a 'highly-sustainable development' that could encompass a blend of new homes, businesses, and a public square. Officials are keen for the project to 'complement and enhance' the existing Northern Quarter, as well as align with the local authority's economic, housing, and environmental goals. The initiative is also seen as a potential solution to the anti-social behaviour issues that have affected the vicinity in recent times. City leaders are advocating for the scheme to encourage 'active travel over car use' within the city centre. Coun Craig stated: "The Church Street car park has for some time felt out of step with its surroundings, detracting from the wider area both in look and feel, and in the way the current building layout attracts anti-social behaviour. "A multi storey car park is also inappropriate in the heart of our city, and we expect this development to support a people-first approach that actively promotes public transport and active travel over car use. We look forward to seeing ambitious proposals that will enhance our world-famous Northern Quarter and support the continued success of our city centre." It is believed that those with parking permits who may be impacted by any future plans will be contacted by the council. Property company CBRE is overseeing an invitation to tender process on behalf of the council, with a deadline for proposals set for 1pm on February 12 next year.

UK business optimism 'slumps' in Budget gloom

2025-10-09 20:41:48

UK business optimism has taken a hit following the Autumn Budget, as revealed by a key survey of the private sector. The 'flash' purchasing managers' index (PMI) from S&P registered at 49.9 in November, dipping below the neutral 50.0 mark, down from 51.8 in the previous month, and marking the lowest point since October 2023. Businesses experienced a slight drop in activity over the month, subsequent to Labour Chancellor Rachel Reeves' inaugural Budget on October 30. This follows Reeves' decision to increase employers' national insurance contributions (NICs) and raise the minimum wage, prompting warnings from over 200 leading hospitality businesses in the UK that the additional tax burdens could push some towards liquidation, significant reductions in staff numbers, and curtailed investment. Additionally, the survey indicated that new order growth slowed to its weakest in a year, amidst widespread concerns about fragile business confidence and a continued decrease in private sector employment, as reported by City AM. Chris Williamson, chief business economist at S&P Global Market Intelligence, commented: "The first survey on the health of the economy after the Budget makes for gloomy reading." He added: "Businesses have reported falling output for the first time in just over a year while employment has now been cut for two consecutive months." Describing the Budget's reception, he noted that the downturns in output and hiring were "marked contrasts" to the "robust growth" seen during the summer, pointing to "deepening concern about prospects for the year ahead", and suggested that the survey signals the economy is "slipping into a modest decline". Williamson stated: "Business optimism has plummeted significantly since the general election, decreasing further in November to reach its lowest point since late 2022. Companies are giving a resounding 'no' to the policies announced in the Budget, particularly the planned increase in employers' National Insurance contributions. He emphasized: "The loss of confidence hints at worse to come including further job losses unless sentiment revives. " However he added that: "encouragingly, inflation pressures have eased further, with selling prices rising at the slowest rate seen since the pandemic". Manufacturing saw a "slight decline" in volume, with "muted customer demand" and "delayed investment decisions", according to S&P. Service providers noted "muted business confidence and caution among clients" post-Budget, while others suggested "clarity following the US election had a positive impact". There was "another slight decline in private sector employment" with "reduced headcounts" in manufacturing and services and firms in "hiring freezes". Business was also at its "least optimistic" since December 2022, thanks to growing payroll costs, and "perceived disincentives to expand investments and hire additional staff". The study also found some manufacturers "concerned about renewed global trade tensions in 2025", but others hoped post-US election clarity "would unlock paused investment".

North Cornwall hotel put up for sale following renovation

2025-10-17 20:20:58

A coastal hotel in north Cornwall that has recently been refurbished has been put up for sale. Widemouth Manor, near Bude, is a family-run operation with 10 ensuite rooms, a restaurant, lounge bar, rooftop terrace and gardens. The hotel has undergone "significant" renovation works under the current ownership, according to specialist property firm Christie & Co which has been instructed to market the venue. Set within private grounds, Widemouth Manor holds a wedding license and regularly hosts events, celebrations and private functions. On-site managers’ accommodation and a sizeable car park are also included in the sale. According to Christie & Co, there is scope for a new owner to grow existing operations by extending trading times and developing the facilities further, subject to obtaining necessary consents. Widemouth Manor freehold is being marketed at an asking price of £2.9m. The business is also available by way of a new lease at an asking premium of £350,000. Stephen Champion, director of hotels South West at Christie & Co, who is handling the sale, said: “Widemouth Manor presents as an exceptionally profitable business which could suit integration into either an existing group operation or acquisition by an individual operator. We expect strong buyer interest in this superbly positioned business.”

Town centre sees 'much-needed' regeneration work begin after traders demand market changes

2025-10-19 11:07:57

Refurbishment work on Hyde's outdoor market has commenced, with completion expected by early 2025. Tameside council started the project last week to enhance the town centre for businesses and visitors. The plan includes replacing the fixed market stall on the outdoor market with parasols and creating a more flexible space for community events. Tameside Council's masterplan for Hyde emphasised that a versatile space for markets and events, complemented by new plantings, would attract more visitors. The existing outdoor market, rebuilt in 2012 at a cost of £1.2m, requires further improvements according to market traders. These enhancements include removing four of the six fixed market stalls and installing a more flexible parasol system, while keeping two of the existing fixed stalls. Other tasks involve extensive tree maintenance, replanting granite planters, improving Millennium Park, installing new decorative lighting, and other undisclosed projects. A funding of £737,000 from the UK Shared Prosperity Fund and the Hyde Accelerator Programme is being utilised for these works. Coun Stephen Homer, who is in charge of towns, transport and connectivity, said: "These works will kickstart the much-needed regeneration of Hyde town centre building on some recent improvements to the town. Further projects are proposed as part of the Hyde Accelerator Programme which include improving greenspaces and planting to make the town centre more attractive and welcoming for visitors and local people alike.", reports the Manchester Evening News. He also mentioned that "The changes to Market Ground will ensure this key civic space in the heart of the town can operate more flexibly for events including markets and other activities." He outlined that several engaging events aimed at attracting more visitors were on the agenda, highlighting past and future attractions such as the Halloween event with its Lantern Parade, and the anticipated Christmas Market at the town hall. Town hall leaders have indicated that the market improvements should be finished by early 2025.

Lord Alan Sugar's property firm recovers amid challenging market conditions

2025-10-03 07:34:01

Lord Alan Sugar's property venture, Amshold, has reported a return to profit in its most recent fiscal year ending 30 June, 2024. After enduring a substantial pre-tax loss of £29.1 million in the previous year, the organisation disclosed a pre-tax profit of £932,000 despite a drop in turnover from £11.4 million to £8.7 million. The figures were outlined in recently submitted documents to Companies House. Amshold, known for holding Lord Sugar's property investments, chose not to distribute a dividend for another year—a pattern consistent with the preceding year, as reported by City AM. The last significant payout was a £90 million dividend issued in 2022. Addressing challenges in the capital's real estate market, the group stated: "The market for quality London freehold investment property is difficult with high interest rates, uncertainty and falling valuations." Nevertheless, the firm managed an operating profit before revaluations and disposals of £3.1 million, down from £6.7 million. These results follow on the heels of completing the sale of The Crosspoint, located at 117-121 Bishopgate, London, for a sum of £24 million on 1 October, 2024. Regarding its future strategy, the business commented: "The group remains committed to enhancing its current portfolio of real estate assets by means of diligent active management of stock whilst at the same time aggressively endeavouring to acquire new quality real estate asset opportunities that would complement our existing real estate portfolio strategy." They further added, "With fixed long-term funding we remain extremely well placed to do this." They are optimistic about their potential for growth with the statement, "With a strong and stable management team the group is extremely well positioned to continue to actively acquire viable real estate propositions that it feels with further enhance its portfolio."

Insurance brokerage moves to new base

2025-10-10 04:19:03

An independent insurance brokerage has expanded into a new office in Birmingham. Norton Insurance Brokers has relocated to Lyndon House, in Hagley Road, which it said marked a significant step in the company's growth. The insurance specialist is occupying around 5,500 sq ft over two floors at the new base. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Managing director Mark Wilkinson said: "We're delighted to have moved into our new office at Lyndon House. "This is the next chapter in our journey and we are excited about the opportunities it brings as we continue to serve our clients and grow as a business." Levi Bailey is group operations director at Switch Management which manages Lyndon House. He added: "Joining a number of leading organisations, Norton Insurance Brokers will make a brilliant addition to Lyndon House which is the perfect space for ambitious businesses looking to scale up their operations. "We look forward to being part of their journey as they continue to grow."

27-storey tower and student digs that could 'overshadow' Victoria Baths among key developments approved for Manchester

2025-10-24 05:33:06

Manchester has given the green light to a 27-storey building and a significant revamp of a student accommodation complex.. The council's Planning and Highways Committee reviewed plans for several large developments, which will collectively bring about 1,500 new homes to the city, in their meeting on November 21. These include a high-rise on Sparkle Street, behind Piccadilly Village, 237 apartments in Cheetham Hill, a residential development at the old Nello James building in Whalley Range, and the partial demolition and extension of Victoria Point in Ardwick. A proposal to demolish two out of six existing student accommodation buildings and extend four others on Hathersage Road has also been approved. Empiric Student Property is set to construct a new four-storey and twelve-storey building at Victoria Point, a student apartment complex situated around the Grade II* listed Victoria Baths. The project will nearly double Victoria Point's capacity, accommodating 876 beds across 694 self-contained apartment units ranging from two to four-bedrooms. Designs submitted by Bell Phillips and 5plus feature communal terraces and ground floor commercial space, which the applicant's agent believes will make it a 'destination' for the surrounding area. Local residents raised 18 objections against the proposed construction of a twelve-storey building, citing concerns over loss of light and an influx of students potentially 'destabilising existing communities'. Historic England also weighed in, describing the structure as 'incongruous and conspicuous' beside the neighbouring listed baths, potentially diminishing its historical significance, reports the Manchester Evening News. However, councillors ultimately ruled that the economic advantages and the need for student housing took precedence. In another development, plans for a towering 28-storey building on Sparkle Street have been given the green light, despite a local councillor's warning that it would 'dominate' the adjacent Piccadilly Village. The three-part complex, consisting of sections reaching 10, 27, and 28 storeys, is set to deliver 359 new apartments and is expected to contribute approximately £22.3m to the local economy. Foras, the developers behind the project, have committed £228,000 towards affordable housing within the city, although the highrise itself will not include any affordable units. The scheme also includes the creation of two new disabled parking bays and a car club space, achieved by relocating current pay and display spots, in addition to providing 359 secure spaces for bicycles. Local councillor Jon Connor Lyons expressed his concerns, stating: "This scheme will dominate Piccadilly Village, which comprises townhouses and up-and-down flats at two or three storeys. [...] This completely knocks off balance the communities of [the surrounding area]." Planning officers have acknowledged that there 'will be noticeable impacts' on neighbouring communities from a new development, but they argue these are 'not unusual' in areas designated for city centre regeneration such as the Piccadilly area. The application was approved with only one vote against it. A new 23-storey apartment block is set to alter the North Manchester skyline as Cheetham Hill Road becomes home to nearly 240 apartments. The £70m project, led by developers Zephyr X, promises to deliver a 'vibrant residential scheme' with 'a positive social impact'. The tower will replace a vacant plot previously occupied by a car showroom and hand car wash, offering 155 two-bedroom and 82 one-bedroom flats, along with a ground floor shop or cafe, amenity areas and bike storage. The applicant's agent, Mr Cameron Radford, assured that local businesses would be prioritised for the commercial space and construction. Manchester councillors praised the 'considered' scheme 'that could provide homes for families', noting features like children's play equipment on the roof terrace and a shared parcel storage area. Construction is slated to begin in 2025, with the opening of the block scheduled for 2027. Meanwhile, a decision to transform a historic site in Whalley Range into a housing complex featuring 35 homes has been deferred by the council. Views Holdings Ltd has proposed to partially demolish the existing building at 136 Withington Road, with plans to construct 31 one and two-bedroom apartments and four townhouses. Two of these houses will have two bedrooms, while the other two will feature three bedrooms. The designs, drafted by Ollier Smurthwaite Architects, depict a transformation of the former Nello James Centre, a community space named after historian and political activist C. L.R. James. Currently, the building is in a 'state of disrepair', as described by an agent for Views Holding, with frequent instances of antisocial behaviour reported on the site. The developers' plans include restoring much of the site and 'sympathetically extending' it. However, councillors have expressed concerns over parking and tree planting, deciding to visit the site before making a final decision.

New HQ for growing Birmingham company

2025-10-23 06:09:38

A young and growing company has secured a deal for a new headquarters in Birmingham. DuraClean has signed a lease for 10,000 sq ft of warehousing and office space on Rovex Business Park in Tyseley. The move to the new base early next year will represent a fivefold increase in size on its current head office on the same business park. DuraClean, which was founded in 2023, supplies cleaning products such as mops, chemicals, staff uniforms and machinery to contract cleaning companies and wholesale customers. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Its client roster includes more than 600 UK hotels as well as schools, commercial and industrial premises, retailers and facilities management companies. Turnover for the current financial year is forecast to be £1.1 million and co-founders and directors Yasin Shariff and Imran Khandhia said they were aiming to grow revenues to £5 million within three years, fuelled by an expanding product range and burgeoning customer base. DuraClean currently has six staff and is recruiting for a variety of new roles. Mr Shariff said: "Trading so far has exceeded our initial projections and we have an exciting strategy for further growth over the next three years. "This will be underpinned by expanding our workforce with key hires, adding significantly to our product range and extending our geographical reach across the UK. "The move to larger premises will support our plans and enable us to focus on winning and servicing bigger wholesale and contract cleaning companies. "We're investing heavily in technology, strategic partnerships and warehouse capacity to rapidly scale our operations and speed up dispatch times. Our vision is to capture a bigger market share. "Rovex Business Park is in a great location with excellent transport links and we were keen to remain at the same complex as it has served us extremely well on our journey so far." Rovex Business Park is owned by Pall Mall Estates and has 67 industrial units spanning a total of 180,000 sq ft. Commercial director James Checketts added: "We will be thrilled to welcome DuraClean into a much larger unit as the business continues to grow and thrive.

Work starts on new business park in the Black Country

2025-10-19 09:23:17

Work has started on transforming a derelict industrial site in the Black Country into a new business park which is expected to create more than 330 new jobs. Foundry Business Park is being built on 15 acres of land off Brook Street, in Bilston, and will offer a mix of accommodation for small and large companies. Oldbury-based developer Goold Estates has started work on site following confirmation of a £12.5 million investment by the West Midlands Combined Authority (WMCA) to help get the scheme under way. Goold Estates was selected by City of Wolverhampton Council as its chosen developer for the land which it has designated for employment use as part of its wider Bilston Urban Village regeneration project. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. The WMCA funding is being used in part to cover the cost of cleaning up the site and making it ready for the construction of 15 industrial and distribution units totaling 166,500 sq ft of accommodation to suit a variety of uses. West Midlands Mayor Richard Parker said: "Foundry Park will bring new life to this site and create over 300 much-needed jobs for local people. "This modern, environmentally sustainable development will give businesses room to grow and contribute to the community. It will also help tackle a shortage of high-quality workspaces for our region's smaller firms. "Investments like this strengthen our local economy and build a solid foundation for future growth that benefits everyone across the West Midlands." Dominic Goold, managing director of Goold Estates, added: "This brownfield site has a complex industrial legacy which has kept it vacant for more than 20 years. "It required consultation with a number of third parties to progress the site's development but we are excited to have begun remediation works. "Foundry Business Park has the potential to create hundreds of new jobs, secure the future of many firms in the region and attract inward investment." City of Wolverhampton Council leader Cllr Stephen Simkins said: "Bringing this strategically important site forward has been a long-term ambition for the council and I am delighted to see our chosen developer, Goold Estates, start work to create new industrial and distribution units that will deliver hundreds of jobs for our residents.

The Beefy Boys to open fourth restaurant in Bath

2025-10-26 17:21:09

Award-winning hamburger chain The Beefy Boys has announced plans to open a restaurant in Bath. The news of the brand's expansion comes just weeks after the company's burger was named among the best globally at the World Food Championships. The new restaurant will be based at 24 Milsom Street, taking over the historic site of the former Milsom Hotel and Loch Fyne restaurant, and will open at the beginning of 2025. It is the fourth outlet for The Beefy Boys, which was founded by four friends after entering a burger into Bristol's Grillstock Festival competition "for a laugh" and winning. The quartet opened their first restaurant in Hereford in 2015 and restaurants in Shrewsbury followed in 2021 and Cheltenham in 2023. Last year, the brand won Signature Burger and Burger Chef of the year at the National Burger Awards. Co-founder Anthony Murphy said: “Bath is a beautiful city with a real buzz to it, and that was why it was our choice for the fourth restaurant. The location on Milsom Street is amazing as it is slap bang in the heart of the city. We can’t wait to get there and introduce the people of Bath to our brand of authentic dirty American-style burgers.” The Beefy Boys, which first gained national recognition at the World Food Championships 10 years ago, has earned multiple accolades and a legion of BBQ fans. The founders have appeared on BBC’s Saturday Kitchen and the brand recently collaborated with Fortnum & Mason.

London's commercial property market to keep growing as staff ordered back to the office

2025-10-21 19:36:21

The emergence of optimism earlier this year in London's commercial property market appears set to persist into 2025, with property firms positioning themselves for a "cyclical growth opportunity". The London-listed property developer Helical signalled a slight rebound in the value of its portfolio post several years of market volatility, as reported by City AM. Matthew Bonning-Snook, Helical's chief executive, commented on his strategic focus to "best capture the cyclical growth opportunity". The company is looking to carve out a portfolio of high-end office spaces in anticipation of a coming shortfall in quality supply. Meanwhile, Shaftesbury Capital, the West Ends most extensive landlord, conveyed to investors that leasing demand remained "strong across all uses" during the third quarter. Its properties were described as "busy and vibrant coming into the Christmas trading period". The firm has executed an impressive £15.9m in new leases and renewals in the latter half of the current year, showing a nine percent increase on figures from June 2024. These positive findings sustain the post-election move towards equilibrium in the property sector, especially as interest rates decline. Just earlier in November, both Cushman & Wakefield and Savills reported signs of stabilisation within central London's property market, and Landsec, a leading British property investment trust, published half-year results echoing this pattern. In recent months, major companies including PwC, Santander and Amazon have been encouraging their employees to return to the office. Just last week, PwC informed its staff and partners of a new hybrid working policy that would necessitate at least three days a week spent with clients or in the office. Both Boots and HS2-builder Laing O'Rourke have mandated full-time office returns for their workforce. Many firms are expressing hopes for increased face-to-face collaboration, which could potentially lead to a much-needed productivity surge. This trend is expected to stimulate demand for commercial office space, possibly reversing the post-pandemic downsizing trend. Landsec has specifically observed a shift towards "high-quality space in best locations" sustainable, high-tech and modern offices. "The good availability of credit remains supportive to this [trend], although we are mindful that changes in longer-term interest rates will likely influence the pace at which momentum improves from here," Landsec commented. When it comes to office space, there's a shortage of high-quality buildings that comply with government sustainability and energy guidelines (though this is increasing), while retail firms are vying for shops in prime locations as they concentrate more on flagship stores. Changes to energy efficiency requirements mean that most office spaces in the capital won't meet the minimum standard for leasing within the next four years, leading to a flight to quality in the market. In the retail sector, Sam Foyle, co-head of global retail at Savills, noted that retailers are "responding to evolving consumer preferences, focusing on securing strategic locations to enhance brand presence." Landsec, a multi-sector real estate operator, has observed a shift among retail brands towards fewer, larger, and superior stores, with "significant upsizes and lettings" from leading brands such as Primark, Pull&Bear, Bershka, Sephora and JD Sports. Consequently, many firms have cautioned that limited supply will drive up commercial property prices. Savills' research revealed that prime commercial rents increased by 1.5 per cent between Q2 and Q3 of 2024. Over the past year, rents have surged by 13.1 per cent. However, Helical has declared that "now is the time to build" and earlier this year, GPE, one of London's largest landlords, announced plans to raise up to £350m to invest in new properties across London.

Grainger unveil plans for 400 apartment built-to-rent scheme in Cardiff city centre

2025-10-10 14:29:42

Plans for a 400 build-to-rent apartment scheme, which will also see a string of railway arches revived in the centre of Cardiff, have been revealed. Newcastle-based and the UK’s largest listed residential landlord, Grainger, has acquired a development site at John Street in a £6.25m deal, which also includes the long leasehold interest in five railway arches. Following the acquisition, Grainger is now progressing plans to obtain planning consent for a build-to-rent led scheme for 400 apartments with resident amenities, whilst transforming five railway arches to provide commercial and publicly accessible open space. The arches, with are currently not occupied, each extend to around 1,000 sq ft. In a separate deal Grainger has also acquired a multi-storey car park at the nearby Capital Quarter scheme, which is adjacent to Grainger’s Copper Works residential scheme. Both the land site and car park have been acquired from Cardiff-based and family-owned developer JR Smart, which developed the Capital Quarter scheme and a new 107,000 sq ft office building at John Street, which is due to be completed next year. The Cardiff office of property advisory firm Knight Frank acted for JR Smart on its two disposal deals with Grainger. The multi-storey car park with 296 spaces was acquired as a going concern and will enable Grainger to lease car parking spaces to residents of the Copper Works, but also for any potential development on the John Street site. With 11,069 operational rental homes across the UK, and a further 4,730 homes in its £1.4bn pipeline, Grainger said its Cardiff acquisitions provide an opportunity to further strengthen its presence in the city. In January it unveiled its built-to-rent Copper Works scheme at Capital Quarter with its 307 apartments. Helen Gordon, chief executive of Grainger, said:“We are pleased to further invest in Cardiff, which is a key investment target for Grainger.

Cardiff office market sees strong growth in letting deals and its headline rent level

2025-10-03 01:16:26

Cardiff’s commercial office property sector has performed strongly this year with rising letting activity and its headline rent on an upwards trajectory after being stagnant for nearly a decade, shows new research from property consultancy Knight Frank. The firm’s Cardiff Report said the market has benefited for an increasing number of companies expecting employees to spend more time in the office, Its annual report also shows that those seeking office space are becoming more selective, with high-quality, amenity-rich office spaces that support health, well-being, and sustainability objectives foremost in demand. Matt Phillips, head of the Cardiff office of Knight Frank, said: “This occupational realignment is having a profound impact on the property landscape in Cardiff. While there is a plentiful supply of commercial spaces in Cardiff, there is a notable shortage of properties that meet this evolving criteria of active occupiers. “The market is polarising at pace, with new or recently refurbished buildings generating healthy occupier attention. Older buildings lacking significant capital improvements, however, are experiencing greater challenges. Herein lies both the challenge and opportunity for Cardiff.” Knight Frank’s said total office take-up in the city for the third quarter of this year topped 146,000 sq ft - the highest quarterly total since Q4 of 2020. For the year to date a total of 334,500 sq ft has been let - 56% ahead of the equivalent period in 2023 and the strongest first nine months to a year since 2017. So far this year three deals of more than 20,000 sq ft have been completed, the highest for three years, Notably, the average deal size for the year-to-date is 4,711 sq ft, the highest since 2020. The largest deal this year was the Welsh Government acquiring a 51,400 sq ft former Lloyds office building at Cardiff Gate Business Park to support the expansion of the compound semiconductor cluster in South Wales. The other two deals over 20,000 sq ft saw professional advisory firm, PwC taking 33,200 sq ft at One Central Square and Aldemore Bank (via Motonovo Finance)taking 28,100 sq ft at the adjacent Two Central Square. Motonovo has taken space being sublet by law firm Hugh James in the building. Motonovo is moving out of One Central Square, which provides the space for PwC. Mr Phillips said: “So far this year companies originating from the financial services and insurance sectors have been particularly active, accounting for 27% of the total office space take-up. Notably, four out of eight of leasing deals involving spaces over 10,000 sq ft were secured by firms from these sectors.” At the end of third quarter the overall vacancy rate in the core Cardiff city and Bay market was 9.9%, a slight fall compared to the peak of 11% earlier in the year. Inclusive of out-of-town areas, vacancy rates were 11.1 per cent in Q3. Mr Phillips said: “This elevated vacancy rate masks the complete picture. Grade A availability has steadily declined during the year to reach 324,000 sq ft at the end of the third quarter and this meant that the vacancy rate for new and grade A spaces dipped to 3.8%, meaning the gap between total availability and that of ‘best quality’ is now the widest for 10 years.” The report shows that the city’s development pipeline remains limited for those targeting new space. At the end of the quarter, John Street was the only new speculative office development under construction in Cardiff city centre. Being developed by JR Smart, the building is due for delivery by the end of 2025 and will provide 107,000 sq ft of office accommodation with floor plates of 13,000 sq ft. While rents increased in Cardiff during 2024 the gap compared to other regional markets also increased, the research reports. The headline (prime) rent in Cardiff increased to £28 per sq ft, The level was achieved through the letting deal at One Central Square with PwC. The previous headline rent was £25 per sq ft. The average market asking rents also experienced growth, rising to £18.50 per sq ft from £17.50 in 2023. Knight Frank said the upward trend in prime and average rents reflects Cardiff’s competitive market for better-quality spaces. However, despite this uplift, the disparity between Cardiff’s prime rents and those in other UK regional core cities expanded significantly. At the end of Q3 the average headline rent across core cities outside of London stood at £38.00 per sq ft, with the highest rent reaching £48.00 per sq ft in Bristol.

Royal Albert Dock Liverpool unveils green transformation plans with new planting and outdoor furniture

2025-10-23 06:17:11

The appearance of the Albert Dock could be set for a transformation, as new plans have been submitted to Liverpool City Council by its owners. The proposals from Royal Albert Dock Liverpool, the freehold ownership entity of the dock, include increasing green spaces around the dock, introducing new plant species and adding a fresh suite of outdoor furniture. The upgrades are intended to enhance visitor experience and accessibility while honouring the dock's heritage. The design team from the Royal Albert Dock collaborated with Liverpool-based studio Planit to create the plans - the first phase in a series of improvements. Subject to planning approval, work is slated to commence next spring. A 'multi-zonal strategy' will see three initial areas of the dock developed, each reflecting the unique characteristics of its surroundings. Up to 40 new plant species will be introduced, underused areas will be enhanced with new seating and furniture, and the site's cobbles will be smoothed over to improve accessibility for wheelchair and pushchair users. At the North site entrance near Tate Liverpool, Mermaid Courtyard is planned to become a nature-led extension to the art gallery, with planting and new furniture softening the external terrace area which Tate Liverpool will open onto after their current renovation works. This landscaped area will provide a space for community events and workshops, reports the Liverpool Echo. The walkway next to the Maritime Museum at Hartley Quay is set for a revamp to improve accessibility and create a more inviting waterfront space. The new design will include fresh planting, picnic tables and benches with a robust timber aesthetic that pays homage to the dock's industrial past. These enhancements aim to highlight the dock's picturesque location and waterside views while boosting green infrastructure and supporting climate resilience. The Northern Gateway, which serves as the initial point of contact for visitors from the city centre, will be made more welcoming with the addition of seating areas. New information boards and signage will also be installed to educate visitors about the dock's history. This comes as part of a series of renovation projects taking place at the dock. Liverpool City Council recently approved plans for a new dedicated entrance at the Martin Luther King Jr building as part of National Museums Liverpool's £58m improvement works on the waterfront. Meanwhile, the Tate is currently undergoing refurbishment and remains closed. Helen Legg, chair of Royal Albert Dock Liverpool Ltd, said: "Liverpool's waterfront, and in particular the Royal Albert Dock, is the city's greatest asset. As the largest collection of Grade 1 listed buildings in the country, it's essential that we invest in maintaining and developing the dock. We are doing this alongside ambitious plans by Tate and NML to reimagine the museums on the site thus reinstating Royal Albert Dock's cultural and heritage significance." Jacob Loftus, CEO at General Projects, added: "The public realm works proposed set out our intentions to modernise and activate the Royal Albert Dock for the local community and visitors alike. This enables us to create a truly unique public offer while celebrating the heritage and cultural qualities that make this area of Liverpool such an intrinsic part of the city". Danny Marsh, studio director for Planit Liverpool, said: "This was an exciting opportunity to refresh the Royal Albert Dock public realm masterplan, and reassess the collective priorities of the landlord, tenants, public and planet. The Royal Albert Dock is one of the most important historical and cultural sites in the UK, and we want to make this an inviting and attractive place for everyone for generations to come." Spanning a vast 375,000 sq ft, The Royal Albert Dock houses the largest collection of Grade I listed buildings in the UK. Its conversion into a leisure and retail hub played a pivotal role in Liverpool's regeneration during the 1980s. In 2018, it was bestowed with Royal status and now attracts over six million visitors annually. The freehold ownership of the wider Albert Dock is held by Royal Albert Dock Liverpool Limited, jointly owned by General Projects, Neo Capital, Tate Gallery, National Museums Liverpool, and The Colonnades Residential Limited.

'Oven ready' employment site could be built just off the M6

2025-10-16 20:33:27

Detailed plans have been submitted for a major employment site at a former open cast mine, near Junction 25 of the M6 at Wigan. The proposals suggest that existing public rights of way (PROW) would be 'extinguished' and replaced with new routes, including a three-metre wide bridleway. The reserved matters planning application for the 1.1m sq ft 'Symmetry Park' includes land clearance and road construction, along with a shared pedestrian footpath and cycleway. Tritax Symmetry (Wigan) Ltd aims to make the site 'oven ready' for development so it can 'quickly respond to occupier interest in competitive regional market', reports the Manchester Evening News. CBRE, representing Tritax, indicates there will be further applications for built development at the site. A covering letter on Wigan council's planning portal stated: "With respect to the public rights of way (PRoW) network within and immediately adjoining the site, the submitted plans show the intention to extinguish existing PRoWs which run through the centre of the site and create new ones with a three-metre bridle way specification." It added that the new PRoWs would be screened by planting and 'bunding' [a method of shielding from water] from the main development site. Closure and creation orders are also required over the PRoWs, it said. In 2021, the Secretary of State approved planning applications for the demolition of existing buildings and development of a logistics site following a public inquiry. The approval was granted for the construction of 1.1m sq ft of employment space, a sub-station, car parking facilities, access from the A49 roundabout, and an internal estate road.

Business hotel near M4 in Swindon put up for sale

2025-10-14 00:52:38

A popular business hotel just off the M4 in Swindon has been put up sale. The 171-bedroom DoubleTree by Hilton, on Great Western Way, reopened under the DoubleTree brand following a refurbishment in 2016. The freehold interest in the hotel is being jointly marketed by specialist property firm Christie & Co and real estate companhy Cushman & Wakefield. It is not known why the property is being sold but it is being advertised as a "rare opportunity" to revamp the hotel "free of management", including refurbishing rooms and updating conferencing facilities. There is also the potential to expand the number of beds to 181, subject to approval. The hotel, which is just off junction 16 of the the motorway, is often used for business meetings and events, and has two food and drink outlets, fitness facilities and space for conferences. Ed Fitch, head of hospitality UK & Ireland at Cushman & Wakefield, said: “Swindon is experiencing significant transformation with a depth of both private and public capital in deployment across a spectrum of projects from Panattoni’s redevelopment of the ex-Honda plant to investment into the town centre. "The hotel stands to benefit from this evolution, underpinned by its strategic location at the south-west side of the town on the M4, the preferred destination for local corporates. This, when combined with potential to extend the key count and execute a pre-designed room refurbishment programme (subject to brand review), presents a new owner the potential to drive significant NOI uplift and value-add returns.” The hotel is next to Lydiard Fields Business Park and nearby Windmill Hill Business Park, which is home to Regus, Nationwide and Vodafone. Jeremy Jones, head of brokerage at Christie & Co, added: “The joint agents are delighted to be launching this substantial hotel asset to the market. Offering a profitable track record and having undergone substantial investment, the hotel offers further asset management potential to grow profitability benefiting from the growing appeal of the business parks around Swindon."

Manchester office investment 'paying dividends' as international businesses head to city, agents say

2025-10-02 11:54:34

Property leaders say the massive investment in Manchester City Centre is paying dividends in attracting national and international businesses to the city – and they hope there’s more to come. The latest figures from the Manchester Office Agents Forum (MOAF) showed that in the third quarter, 432,619 sq ft of city centre office space was let across 51 transactions, giving a big boost to the annual total. Almost 1m sq ft has been let in the year so far – with 46% of take up coming in Q3. The quarter also saw the two largest transactions in the year, with the letting of 4 Angel Square (196,443 sq ft) to BNY Mellon and ARM’s deal for three floors in 1 St Michaels (68,860 sq ft). MOAF has predicted a “strong take-up” for the rest of the year and expected the annual total to top 1.3m – eclipsing the five and 10-year average figures of 1.1m and 1.2m respectively. Steve Brittle, partner at property consultancy Fisher German’s Manchester office, said: “The increase of 100,000 sq ft in deals compared to the previous quarter was predominantly due to the major letting to the Bank of New York Mellon Corporation which is the largest regional ‘big six’ letting recorded over the last four years. “This highlights the attraction and pull of Manchester as a city to corporate occupiers wanting to consolidate and expand their presence in the city along with the high-quality space that is available. “The massive amount of investment in Manchester city centre in recent years in terms of re-development, refurbishment of office buildings and inward investment from the private and public sector is paying huge dividends in the calibre of businesses and organisations that now want to make the city their home or expand here." Mr Brittle said occupiers were also looking more at Environmental, Social and Governance (ESG) requirements when it came to office space. He added: "Acquiring office space that supports health, sustainability and transparency helps attract and retain top talent and is now considered to be a crucial factor when moving into a new base. “We expect the final quarter of 2024 to be positive with the deals that are currently in the pipeline, and the office market in Manchester City Centre has demonstrated a robust performance to date and the evidence of larger footprint transactions is encouraging.” In South Manchester, the market has witnessed a take up of 81,910 sq ft over 59 deals during Q3 which was a slight increase on the Q2 figure. The Q3 figure brings the transactions to date to 254,021 sq ft for 2024. Steve said: “The South Manchester market has been consistent throughout the year with levels and number of transactions being similar in each quarter. We expect that to continue for the remainder of the year and into 2025.” Announcing the Q3 survey results last month, Rob Yates, head of office agency at Cushman & Wakefield and MOAF chairman said: “Manchester’s office market continued to perform robustly, the return of larger lettings is particularly pleasing. The letting of 4 Angel Square is the largest regional ‘big six’ transaction recorded in the last 4 years. This illustrates the pull of Manchester to major occupiers seeking to consolidate and expand their footprint in Manchester. “We continue to see a diminishing supply of readily available Grade A space and robust demand for the best space. Given the lack of speculative development we expect to see a supply and demand imbalance in 2025. This issue will be further magnified when a number of high-profile transactions completed in Q4.” MOAF also discussed the out-of-town market in Q3, where Salford Quays and Old Trafford saw 15 completed transactions totalling 35,134 sq ft. John Nash, Canning O’Neill, said: “The out of town markets have been incredibly consistent through 2024 with similar transaction numbers and take up throughout each quarter of the year. Take up remains down on historic 5 year averages for these markets with larger lettings proving more difficult to secure. However, with reduced void and increasing rental levels in the city centre, the argument to look out of town is likely to become even more compelling.” MOAF is made up of Avison Young, BE Group, CBRE, Colliers International, Canning O’Neill, Cushman & Wakefield, Edwards, Fisher German, Hallam Property Consultants, JLL, Knight Frank, LSH, OBI, Savills and Sixteen. Earlier this month, Avison Young reported that the big cities of the North saw a boost in office take-up levels in Q3 as appetite for “best in class” space continues to grow – though there were still fears about levels of Grade A stock. Also this month, investment bank Cavendish announced its Manchester expansion with a new office at No.1 St Michaels.

Vacant former shop in city centre to be converted into flats

2025-09-28 04:06:34

A vacant shop in Chester city centre is set to be transformed into apartments. The former Sail and Ski store on Queen Street will be converted into six flats, following approval from Cheshire West and Chester Council. The ground floor of the building will undergo conversion, with a first-floor extension also being added to accommodate the two-bedroom self-contained flats. The Sail and Ski store, which had been at the property since 2014, shut its doors last year, reports Cheshire Live. One objection was received from a neighbour, citing concerns over 'residential amenity of the occupiers of the dwelling to the rear'. In a report recommending approval, case officer Ed Maddern stated: "The residential amenity impacts incurred by way of the shorter separation distance than 13 metres from habitable room windows to blank elevations have been noted." He further added: "The re-use of this building and subsequent provision of six new dwellings in a sustainable location carry significant benefits having regard to the aims of the Local Plan and particularly to the benefits of reusing previously developed land and providing housing in sustainable locations. It is also considered that there would be no other obvious way to retain and convert this building without similar impacts being incurred to residential amenity." "It should be noted that the existing area is already densely built-up and achieving the separation distances in relation to the reuse of existing buildings as set out in the local policy can often be difficult with this type of development. On balance, it is considered that the benefits of the proposals outweigh the harm identified."

Manufacturer secures huge land deal in Birmingham

2025-10-26 17:27:38

A manufacturer of non-combustible insulation has signed a deal to open a huge new production facility in Birmingham. Rockwool has agreed terms to buy 114 acres of land at the Peddimore site near Sutton Coldfield with the aim of building a state-of-the-art manufacturing hub. It will feature proprietary electric melting technology for its stone wool insulation products. The new facility will boost supply capacity for UK and Ireland customers while also supporting the company's global sustainability plans along with creating jobs directly and supporting the West Midlands' supply chain. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. The Peddimore site at Minworth has been designated specifically for manufacturing and logistics uses and is part of a long-running regeneration and development project. Infrastructure including a new access road and roundabout is already in place which serves the new Amazon warehouse which opened last year next to where Rockwool's new factory will be. The manufacturer said it would launch a consultation in the coming weeks over its plans including information events for the local community to learn more about its proposals and the business in general. It will then submit a planning application to Birmingham City Council. This would be the company's second UK production facility in addition to its existing Bridgend plant. UK and Ireland managing director Nick Wilson said: "We're very excited at the opportunity to expand the business into the West Midlands that would enable us to boost our production capacity in the UK and to create quality jobs and business opportunities in the local community. "During the past 45 years, we have built a strong foundation at our site in South Wales where we will continue to manufacture and invest for the long-term and are now looking to build on that success with a second manufacturing plant at the Peddimore site. "The West Midlands has a skilled, local workforce, a strong manufacturing tradition and excellent transport links so it is an ideal location for us to expand our business in the UK and bolster our service to customers in the Midlands and across the north of England and Scotland.

Latest apartment complex completes in Birmingham

2025-10-12 06:44:10

Work on almost 400 new apartments has reached practical completion, marking the end of the first phase of a major new residential scheme in Birmingham. Loudon's Yard in Edgbaston has been delivered by Moda Living and contains 398 units to rent, ranging from studios to three-bedroom apartments, along with 14,000 sq ft of amenities including a gym, private dining room, co-working space and communal gardens. There is a concierge service and a programme of events and services run by an on-site team. Harrogate-based Moda Living said the design and materials used in Loudon's Yard were inspired by the nearby Birmingham Botanical Gardens. Its name is inspired by Jane Loudon, the Birmingham-born author who published gardening books and whose husband John designed the botanical gardens. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Delivery of phase one, which started to welcome its first residents earlier in the summer, created 5,569 weeks of local employment, including 31 apprentices and eight placements from local universities and colleges. The main construction contractor was Northampton-based Winvic. Loudon's Yard is part of the wider New Garden Square masterplan on land bordered by Hagley Road and Beaufort Road which could eventually comprise 2,400 homes, £6 million worth of public realm and other commercial space across 11 acres. The second phase of the masterplan received planning permission in August and will have a 37-storey building containing 462 apartments to rent and amenities including a roof terrace. New Garden Square is being delivered in partnership with Calthorpe Estate, the historic, family-owned Birmingham property group which owns large swathes of land in the Edgbaston district. Andrew Parker, managing director of development for Moda Living which is also operating the scheme, said: "It's fantastic to have reached practical completion at Loudon's Yard. "It marks just the beginning of our partnership with Calthorpe Estates for the New Garden Square masterplan which will deliver outstanding new homes and spaces that will transform this part of Birmingham for the long term." Moda Living is behind other projects in Birmingham including the 42-storey Mercian in Broad Street and a project currently under construction on the former Ludgate Hill Car Park in the Jewellery Quarter. Haydn Cooper, chief executive of Calthorpe Estates, added: "The completion of Loudon's Yard represents an exciting milestone for Edgbaston and it's a proud moment for us at Calthorpe Estates to see our partnership with Moda Living bring this vision to life. "We look forward to continuing to create exceptional places with Moda as part of the New Garden Square masterplan." Mark Jones, managing director for multi-room at Winvic, said: "Reaching practical completion at Loudon's Yard is a proud milestone that reflects the dedication of our team and supply chain partners. "This 398-home community not only brings new housing and amenities to Edgbaston but has also created valuable employment and training opportunities for local residents and young people.

New office for Harris Lamb

2025-09-30 21:11:51

Commercial property consultancy Harris Lamb has relocated its 60-strong team in Birmingham to a new office. The business, which has been based in Francis Road in Edgbaston for the past 21 years, has leased 5,391 sq ft of space on the fourth floor of 4 Brindleyplace. The move will support its growth plans. Director Charles D'Auncey said: "This is a very exciting move for us, the time was right for the business and the team. "We wanted a central, sustainable and flexible office solution that would suit the needs of our multi-service team, both professionally and personally. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. "Brindleyplace needs no introduction, lying at the heart of the Second City, and offering superb amenities and an excellent business community within the complex itself. "2024 has been an exceptional year for Harris Lamb, with us having made a number of key senior appointments within the business to further our growth and we are delighted to be relocating to our new Birmingham office and look forward to what the future holds." The office has undergone an extensive fit out, led by Harris Lamb's own project management and building consultancy team, with improvements including a new heating and cooling system and LED lighting.

Hammerson adds Odeon cinema to Bristol Cabot Circus

2025-10-27 09:51:10

Property giant Hammerson has announced plans to add an Odeon to its Bristol Cabot Circus shopping centre. The agreement will see the UK's largest cinema brand opening a big screen within the complex next year. It comes a year after the closure of Showcase Cinema de Lux which at the time was the city's biggest multiplex cinema with 14 screens. It had operated within Cabot Circus since the shopping centre's opening in 2008, but was shut last November. Hammerson said at the time they were "committed" to having a large cinema as part of the shopping centre. The firm carried out a customer survey earlier this year and found that a new cinema was the leisure experience most requested by visitors to Cabot Circus. Toby Tait, director of asset management at Hammerson, said: “Cabot Circus is proud of its record providing Bristol with a leading cinema which acts as a key draw to both our destination and the wider city centre. "This new partnership with Odeon is the culmination of months of hard work to select the best operator and bring the latest technology and experience into a completely renewed cinema venue. It adds to our growing line-up of restaurants and entertainment venues, specifically introduced to boost day and night experiences at Cabot Circus in the heart of Bristol.” The news follows a string of recent deals between Hammerson and leisure operators for Cabot Circus, including King Pins Bowl which will open its 16,500 sq ft gaming venue next year. Meanwhile, Treetop Golf - an immersive golfing experience - is opening in December. A number of food outlets are also set to open, including popular gastronomical concept Six by Nico and poke bowl chain Honi Poke, which chose Cabot Circus as one of its first sites outside London.

Birmingham office block to undergo major overhaul

2025-10-21 20:32:02

A 1980s office building in the heart of Birmingham's business district is to undergo a major facelift which will include the addition of a new roof terrace. Estilo Interiors, which specialises in office fit-out and design, has been recruited to lead the revamp of 35 Newhall Street after plans for the project were first lodged last year. 35 Newhall Street, which sits at the corner with Cornwall Street, is six storeys tall and has 70,000 sq ft of space. The planned work comprises the addition of a roof terrace and sky lounge, replacement of the existing cladding with a modern, reconstituted stone cladding, the installation of six electric vehicle charging points in the basement car park and a new 44-space cycle hub with lockers and changing rooms. The existing Newhall Street entrance will undergo a transformation, replacing the current canopy with a portal adorned with perimeter lighting. Andrew Moore, founder and managing director of Estilo Interiors, said: "We are delighted to spearhead the refurbishment of 35 Newhall Street. "This project represents a significant step in our ongoing commitment to delivering innovative and sustainable office spaces that meet the evolving needs of today's businesses." Property consultancies Knight Frank and Savills have been appointed as joint leasing agencies for the office space. Jamie Phillips, partner in the office agency team at Knight Frank, said: "35 Newhall Street will, on completion, provide the market with much-needed, high-quality office accommodation which will offer the very highest sustainability credentials and provide occupiers with a best-in-class experience." Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Ben Thacker, office agency director at Savills, added: "On track for completion next summer, 35 Newhall Street will be delivering a new opportunity that is precisely aligned to the scale, location and quality of workspace that occupiers are seeking in an office market with increasingly limited availability."

Flexible office firm sees profits rise despite low occupancy levels

2025-10-20 08:36:00

Despite a slight dip in occupancy rates, flexible office provider Workspace has reported an increase in demand for lettings. The company, which oversees millions of square feet of office space throughout London, experienced a 4.3 per cent rise in underlying rental income, totalling £60.2m. Workspace informed markets this morning that it had finalised 603 lettings worth a total of £15.8m, reflecting "good customer demand". However, while like-for-like numbers per square foot saw a 2.8 per cent increase, like-for-like occupancy fell by 0.7 per cent, as reported by City AM. Lawrence Hutchings, the CEO, stated: "With over 35 years of experience and a unique, scalable business model, Workspace is well positioned for further success as we continue to capture demand and, over the medium term, look to increase our share of London's growing SME market,". Hutchings continued: "This is an exciting time for the business, and I am delighted to be here as Workspace's new CEO to build on the great legacy left by my predecessor Graham and drive the continued evolution of the business." He added: "Over the coming weeks and months, I am looking forward to spending more time in Workspace's centres across London, meeting our diverse range of customers and getting to know the teams responsible for making Workspace the unique place it is." Workspace also announced a 5.1 per cent increase in trading profit after interest, rising to £32.7m this year. Shares in Workspace have remained largely unchanged this year, but have seen a nearly 50 per cent drop over the past five years. The firm was significantly impacted during the pandemic and continues to feel the effects of companies' return-to-office strategies, as the trend for flexible working diminishes.

OP wins brief to fit out food firm's new home

2025-10-12 09:35:11

Office interior design consultancy OP has won the brief to deliver the new Solihull home of food processing firm ABP UK. OP will refurbish 28,000 sq ft of Vienna House, on International Park, following a competitive tendering process. The 12-week project will create a modern, office environment for up to 200 people, with a range of settings to allow for privacy, focussed work and collaboration. Features will include a conference suite, demonstration kitchen and space for town hall meetings. There will also be quiet spaces and also various areas for collaborative working and client visits. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Specialist acoustics will be installed throughout the workspace to ensure optimum noise levels. The design includes finishes made with plastic sourced from the ocean floor and existing furniture and materials are being reused and retained wherever possible. ABP acquired Vienna House earlier this year and will occupy two floors of the three-storey, self-contained building, on completion of the refurbishment. Gary Tailby, joint managing director of OP, said: "We're looking forward to delivering a fabulous new workplace for ABP UK. "The project is the culmination of a year-long collaboration between the two companies to pinpoint the best available location for the new office and create a high-end design that supports flexible ways of working.

New McDonald's proposed for Bolton could bring 80 jobs

2025-10-08 18:45:29

McDonald's has unveiled plans to establish a new drive-thru restaurant at an employment park near Bolton. The company intends to develop a site on Cutacre Way, adjacent to the Logistics North employment area, off the A6 Salford Road. The proposed location is already home to a Burger King outlet and other retail and commercial outlets including Aldi, Costa Coffee, Greggs and the Pine Tree Farm carvery restaurant. If approved, this would be McDonald's eighth branch in Bolton borough. The US fast food giant stated that the new outlet would provide 'a complementary use to the wider commercial area' and 'develop a vacant plot of land. ' The company already operates branches at Knowsley Street, Derby Street, Manchester Road, Waters Meeting Road, Chorley Old Road, Pavilion Square in Westhoughton and at the Middlebrook retail park in the town centre. The firm anticipates that the new restaurant could support up to 80 full-time jobs. A design and access statement supporting the plans stated: "Vehicular access will be provided via a priority junction off Cutacre Way." "Pedestrian access to the restaurant would be provided from Cutacre Way via Bridgewater Avenue. "Two zebra crossing facilities through the car park will give priority to pedestrians, reports the Manchester Evening News. The report outlines: "30 car parking spaces are proposed including three accessible bays and one EVCP bay. It further describes the building's design, stating: "The design concept for the proposal centres on the delivery of a high-quality development that supports local demand for a McDonald's restaurant. "It has been designed with an attractive modern aesthetic which reflects the character of the retail and commercial uses in the wider area. " The decision on the application now lies with Bolton Council in the forthcoming weeks.

Birmingham's Mclaren building to undergo £2.4m facelift

2025-10-24 23:10:50

One of Birmingham's most prominent and recognisable office towers is to undergo a major overhaul. Property group Bruntwood SciTech is injecting £2.4 million into its Mclaren building to modernise the block which first opened in 1972. The project will see the building undergo a full refurbishment to expand its workspace offer to include turning the unused basement into a gym with changing rooms, a new "contemplation room" for meditation or reflection and bike storage space. New serviced offices aimed at start-up and growing businesses will be added, ranging from two to 30 desks, alongside its current space to lease. The reception and lounges, with accompanying breakout areas, will be completely redesigned with the aim of giving the building a brighter and more open feel. The renovation work is being carried out in partnership with Manchester-based interior design company Axi Studios. Once completed next spring, Mclaren, in The Priory Queensway, will have 112,000 sq ft of workspace across 20 floors and will also have a new name which is yet to be announced. Current tenants in the building include Energy Saving Group and infrastructure specialist Kier Highways. This latest project by Manchester-based Bruntwood SciTech follows on from it recently completing work on its Cornerblock building, in Cornwall Street, and starting to revamp Centre City, in Hill Street. It is also working in partnership with University of Birmingham on the new Health Innovation Campus in Selly Oak. Mohamed Ali, associate director for Bruntwood SciTech in Birmingham, said: "We want Mclaren to be a place where creative and innovative businesses can grow and succeed. "This investment will help us to achieve that by not only improving the calibre of workspaces and amenities available but offering access to both our Birmingham and UK-wide business support services too. "We look forward to offering a space for businesses and their employees that promotes wellbeing and a healthy work-life balance."

Office block above night time 'strip' set to be transformed into 14 flats

2025-09-29 06:15:50

Plans have been put forward to convert the upper floors of the Victoria Buildings on Bury's bustling Silver Street into 14 new flats. Previously utilised as office space, the planning application reveals a stark decline in occupancy rates from 80 per cent in 2017 to a mere 10 per cent by 2019, with the building becoming entirely vacant in 2023. Silver Street is known for its nightlife, hosting an array of bars, restaurants and nightclubs, reports the Manchester Evening News. The proposed development aims to repurpose the commercial upper floors into residential units, offering 10 one-bedroom and four two-bedroom flats for market sale. Should the plans be approved, all existing windows will be replaced, although no other external alterations are expected as the redesign is intended to accommodate the current structure. A design and access statement submitted by the applicant, Mr R Sidebottom, highlights: "The site at Silver Street is located within a central, highly accessible urban area." The plans state: "The proposed density of 14 units is compatible with the surrounding urban context, where residential and commercial developments of similar scale are prevalent. Given the site's proximity to public transport links, shops, and local amenities, the proposed density is sustainable and aligns with the objectives of national and local policies that encourage higher densities in urban areas to reduce the need for outward expansion." A heritage statement on the Victoria Buildings, constructed in the late 19th century, describes it as 'a prominent example of Victorian commercial architecture in Bury'. It adds: "Each studio apartment has been designed to meet national space standards." "The development will make efficient use of the existing building, contributing positively to the local housing stock without negatively impacting the character or amenity of the surrounding area."

Former Cardiff office building being turned into Wales' first co-living scheme

2025-10-04 17:52:29

A project transforming a former office building in the centre of Cardiff into Wales’ first co-living scheme has secured a £30m-plus funding boost to ensure its completion . Developer Urban Centric has struck a £23.8m debt deal with Shawbrook for the project at the 60,000 sq ft Knox Court building alongside securing a £7.6m equity injection from Housing Growth Partnership, which is part of Lloyds Banking Group. The project is scheduled for completion in January 2026 and will provide 206 apartments for rent, alongside share areas. It will also have office units on the ground floor. The funding will finance the construction work, including the addition of two new floors, and assist with tenant acquisition. The building has been vacate since financial services firm L&G moved staff last year into its new Welsh HQ building at the Interchange scheme, which forms part of the wider Central Square development around Cardiff Central Station. Andrew Wood, director of Urban Centric, said: “Urban Centric are proud to be delivering the first co-living scheme in Wales with our partners, the Housing Growth Partnership and with the support of Shawbrook. “Following the successful completion of our first scheme with Shawbrook in Swansea in 2022, we were delighted to partner with them once again on this landmark project. Their flexible and tailored funding approach has been instrumental in helping us bring our vision to life and we look forward to working with them in the future.” John Hughes, senior relationship director at Shawbrook, said “We are pleased to support Urban Centric in launching Wales’s first co-living scheme. This partnership, alongside the Housing Growth Partnership, combines our financial expertise with their innovative vision, propelling the project forward. Co-living offers a flexible, community-focused living experience that resonates with today’s urban residents seeking affordability and connection. Working with Urban Centric again underscores our commitment at Shawbrook to fostering strong relationships with developers.” Mike Murphy, director of Housing Growth Partnership, said: “This first investment alongside Urban Centric highlights the ever-growing significance of equity funding in creating, regenerating and delivering vibrant communities and homes that meet an unmet demand for housing in key regional UK cities. It also underscores our team’s capability in executing complex equity transactions across the UK living sector. "Co-living in particular is a nascent but fast-growing product, as people prioritise city centre living and the infrastructure and social advantages it brings. It’s been great working with the team at Urban Centric to date and the collaboration with Shawbrook has given us the reliable financing and confidence needed to bring this project to life.