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Vita Group secures £43m funding for third Newcastle city centre student housing scheme
Commercial Property 2025-12-19 14:13:01

Vita Group secures £43m funding for third Newcastle city centre student housing scheme

A £43m funding package is driving forward a new student accommodation scheme in Newcastle. Puma Property Finance has announced it has given a the multimillion-pound loan to Vita Group to fund the development of its third student accommodation project in Newcastle. Vita Group is constructing the property on Leazes Park Road, having struck a deal for the site of former Barker and Stonehouse furniture store. Demolition teams have been busy clearing the site to make way for Vita Student Leazes Park, a 260-bed purpose build student scheme, after the luxury furnishing company moved out, having sold it for more than £5m. Puma Property Finance has announced it has given a the multimillion-pound loan to Vita Group to fund the development of its third student accommodation project in Newcastle, which sits close to the Newcastle University campus and Northumbria University’s main campus. New images have been released by the operator, showing how Vita Student Leazes Park will have amenities including a gym, bookable private dining and study rooms, a private landscaped courtyard and basketball court. Every bedroom will also have a high-quality fit-out, and floor to ceiling windows. Developers and operators Vita Student plan to have the new building ready for students to move in ahead of the September 2026 academic year. The scheme is Vita’s third student development in Newcastle, based close to its other sites in Strawberry Place and on Westgate Road, close to central station. The company’s first building in the city was launched around 10 years ago, when Vita Westgate was created on land once occupied by the former Westgate House, a building which was knocked down in 2007 following a campaign for its demolition. The neighbouring Norwich Union House was also taken down to make way for the new structure. The £43m deals marks the third scheme that Puma has partnered with Vita on, having previously given the business a £24m loan for a 269-bed development in Belfast in September 2022 and the December 2024 Edinburgh development. Max Bielby, chief operating officer for Vita Group, said: “This development in Newcastle marks our third in the city and we are delighted to be continuing to provide incoming students with high-class accommodation and facilities. We are looking forward to seeing this development come to life over the coming months in partnership with Puma.”

New lab space and trackless trams – the vision for Liverpool's £1bn Knowledge Quarter as it bids to attract science and tech firms to the city region
Commercial Property 2025-12-10 13:25:31

New lab space and trackless trams – the vision for Liverpool's £1bn Knowledge Quarter as it bids to attract science and tech firms to the city region

The team behind Liverpool’s billion-pound Knowledge Quarter redevelopment have vowed to develop more laboratory space to help attract and retain science businesses in the city region. KQ Liverpool has launched its latest masterplan for growth – including plans to to create more than a million sq ft of new laboratories and workspace. KQ Liverpool 2040 : A Blueprint for Growth says the area should aim to “create a range of inclusive innovation opportunities and inspire future generations” through encouraging the development of the region’s technology and science sectors. It also focuses on improving transport to the area, which stretches from Lime Street to the Paddington Village redevelopment zone with the landmark The Spine and Novotel towers, and includes the University of Liverpool and Liverpool John Moores University. Colin Sinclair, chief executive of KQ Liverpool, told BusinessLive that the area was already home to many successful companies, from start-ups such as MyCardium through to Unilever spin-out Elida Beauty, which has labs and other operations at Liverpool Science Park. Now, through developments such as the planned Hemisphere buildings at Paddington Village, KQ Liverpool aims to encourage more science and tech firms to the city. He said: “We do have some really big occupiers and we have fantastic research links with all of the big pharma and life sciences and chemicals companies. But what we want to do is to have more of those – their labs their R&D – in the knowledge quarter. And to do that, you have to build the space. “The Knowledge Quarter has a spin-out development company Sciontec, which bought, owns and runs the incredibly successful Liverpool Science Park. We're bringing Sensor City into our portfolio of innovation spaces, and also developing the new labs at Paddington Village. “What's critical about that lab development is we currently don't have any vacant lab space. All the labs at the science park fill up. If a customer grows and moves and expands and goes to somewhere else in the country, we lose them to Liverpool because we didn't have the expansion space here. “So Hemisphere One and then Hemisphere Two will have that lab space, not just bio labs, but chemistry labs as well, and space for companies working in AI and robotics. And that will be a big step forward in attracting those multinational companies.” The new strategy also suggested that “trackless trams” could be introduced to link the Knowledge Quarter area to the city centre. Last year, Liverpool city region’s metro mayor Steve Rotheram said he wanted to bring Glider trackless trams to the cit y, to connect areas not currently served by the rail network. The vehicles operate on roads but are designed to look and feel like trams. Mr Sinclair talked about the need for “last mile connectivity” – making it easier for people to get from Central and Lime Street to KQ Liverpool. That would also be useful to patients and visitors at the Clatterbridge Cancer Centre and the neighbouring new Royal Liverpool Hospital. KQ Liverpool’s latest promotional video included an image of the glider, which also appears on the new strategy’s promotional website. He said: "The partnership the Knowledge Quarter has with the city, the combined authority, the universities, our private sector partner Bruntwood SciTech and Legal & General... that gives us enormous weight when it comes to pushing for innovation. “The piece of innovation we most need now is that last mile transport connectivity. “The Metro Mayor has introduced the concept of glider buses, which are trackless trams. And we are working really hard to ensure that that last mile connectivity from Lime Street and Central to Paddington Village and the new hospitals is in place as soon as possible. “On a lovely sunny day with blue sky here – we have a beautiful city, and you don't mind walking back down the hill to the stations. But in the middle of January, when the rain is sideways, particularly if you're visiting the hospitals, you need that public transport. And so we are working really hard to bring that forward.” A Liverpool City Region Combined Authority spokesperson said:"Mayor Rotheram announced last year that the Combined Authority would be looking at how best to introduce new rapid transport links between key locations in the city region not currently served by the rail network. "We're committed to working closely with partners – including at Knowledge Quarter Liverpool – as potential plans move forward."

Plans revealed to transform an historic and empty Swansea city centre building
Commercial Property 2025-12-24 05:29:31

Plans revealed to transform an historic and empty Swansea city centre building

Plans to turn an historic and empty building in the centre of Swansea into a mixed-use scheme have been revealed. St Mary’s Square Developments has acquired the unoccupied Mond Buildings, supported by a six-figure loan arranged with the help of Swansea Council. The company is now working on creating plans for the building which stands at the corner of Union Street and Park Street. It is anticipated that the ground floor will be retained as commercial space with the uses of the other floors possibly including commercial and accommodation. The three-storey structure dates from 1911, is built of Portland stone in the Edwardian Baroque style and is grade two listed. Its architect was Swansea’s CT Ruthen. St Mary’s Square Developments director Peter Loosmore said: “I thank the council for their help in allowing me to acquire this stunning building. “As a Swansea business it’s great to have the opportunity to transform The Mond. It retains many unique features despite it having a variety of previous uses – and we plan to consider how best to use them in future. “We’re now working on creating a plan that’ll revitalise The Mond and bring it back into use.” Other city centre transformation work undertaken by Mr Loosmore includes the Kings Buildings, opposite the Dragon Hotel, and Market Lofts between The Kardomah and Oxford Street. Council leader Rob Stewart said: “We’re delighted to be helping in the process that’ll see another fantastic city centre building given a big future. “Future generations will benefit from the new uses of the Mond Buildings – just like they will at other heritage buildings successfully regenerated nearby, including the Albert Hall and Palace Theatre building. “The council-driven £1bn regeneration of Swansea continues at pace. Through 2025 there’ll be more exciting news on city centre schemes such as a greener, more welcoming Castle Square, the new community services hub Y Storfa and new-style office space 71/72 Kingsway.” Funding to support the acquisition of the Mond Buildings was made available via a Transforming Towns Loan issued by the council.

HSBC provides £20m to upgrade student accommodation schemes from PGIM Real Estate
Commercial Property 2025-12-16 20:28:55

HSBC provides £20m to upgrade student accommodation schemes from PGIM Real Estate

HSBC UK has provided £20m of finance for refurbishment work on six student accommodation sites across the UK, including one in Cardiff. The assets consist of six existing purpose-built student accommodation (PBSA) sites, totalling just under 3,000 beds. PGIM Real Estate acquired the assets from Unite last year in a deal also backed by HSBC UK. The rolling refurbishment programme will modernise each site. North Court in Cardiff will be the first to be refurbished followed by sites in Sheffield, Nottingham, Birmingham, Leicester and Liverpool. Kevin Dawson, relationship director at HSBC UK, said: “In a market which is dominated by brand new buildings, we recognised PGIM Real Estate’s innovative approach. We fully engaged with the PGIM team to develop a new financing approach for the sector that allowed the business the flexibility to acquire the portfolio and undertake the necessary works.” Moreover, Fusion Group is seeking a funding partner for four planned PBSA schemes in the UK, including one in Cardiff. It has appointed property advisory firm JLL, to market the investment opportunities, with the potential for a longer strategic relationship with Fusion to expand their collection of properties. The portfolio comprises four prime assets, which has yet to be built but have planning consent located in Birmingham (622 beds), Loughborough (541 beds), Glasgow (619 beds), and Cardiff (706 beds). Nigel Henry, chief executive of Fusion Group, said:“The launch of the next phase of developments, alongside our living sector operating platform, underscores our commitment to delivering a consistent experience from development to operations. "With these new projects, as well as our current developments set to open in September this year and 2026, we are expanding our portfolio to 6,000 beds under the Fusion brand and operating platform, with an assessment under management exceeding £1.3bn. Fusion emphasises design for positive living, and these latest strategic moves mean we can ensure that our communities continue to receive the same quality and attention that we put into designing and building them.” Huw Forrest, head of UK Student Housing at JLL, said, “We are delighted to be working with Fusion Group on this exciting new chapter in their journey and believe they will present a significant opportunity for investors to benefit from what Fusion do best; strong site selection,100% success on planning and developing highly attractive PBSA schemes that focus on the living experience. The portfolio offers investors the chance to acquire premium assets in prime university locations with strong supply-demand fundamentals.”

Builders' merchant MKM Supplies expands with new branch at Central Park in Bridgend
Commercial Property 2026-01-06 03:52:11

Builders' merchant MKM Supplies expands with new branch at Central Park in Bridgend

Central Park in Bridgend has been boosted with another key letting. Independent builders' merchant MKM Supplies has opened a new 20,000 sq ft branch at the Robert Hitchins developed park under a 25-year leasing agreement. The 355,000 sq ft park provides a mixture of trade and industrial warehousing properties ranging from 2,500 sq ft to 40.000 sq ft. Other tenants include Evri, PCI, Plumbase, Edmundson Electrical, Markes International and Pensord Press. Development opportunities exist for a further range of commercial buildings from 10,000 sq ft to up to 145,000 sq ft. The new branch, which has created 18 jobs, is MKM Supplies’ 132nd in the UK. Its other outlets in Wales include those in Cardiff, Llandudno and Ruthin. A further branch in Bangor due to open later this month. Branch director Jonathan Thomas said: “We’re bringing something new to Bridgend - a one-stop shop for builders, tradespeople and the public.” John Jones, senior asset and development manager at Robert Hitchins, said: “Our commitment to delivering employment-generating development in Bridgend and South Wales continues and we are proud to be investing further with commercial premises which are best-in-class,” he said. Robert Hitchins has developed Central Park over several phases since it acquired the former Kimball Electronics plant in 2006. A scheme of 16 trade counter units amounting to 51,000 sq ft was developed in 2008, followed by a 13,500 sq ft trade counter scheme in 2012, a 40,000 sq ft facility for PCI Pharma Services in 2017, and an 82,000 sq ft industrial warehouse for parcel giant Evri last year. The new building from MKM, brings Robert Hitchins’ investment in Central Park to more than £25m. Mr Jones estimated that there are currently more than 500 jobs associated with Central Park. He added: “We are proud to be investing for the long term in Bridgend by self-funding the development of high-quality buildings which has become increasingly rare in the commercial property market due to rising build costs and other factors.” The builders of the MKM unit were EG Carter & Co.

Construction firm named to deliver new headquarters building for Cardiff Council
Commercial Property 2025-12-17 16:43:48

Construction firm named to deliver new headquarters building for Cardiff Council

German-owned construction group Goldbeck has been chosen to build a new 100,000 sq ft headquarters for Cardiff Council in Cardiff Bay. The new HQ is scheduled to open around the same time as the 15,000-seater indoor arena - subject to financial close this spring - in 2027. Both schemes form part of the wider Atlantic Wharf 30-acre mixed-use regeneration scheme, with plans for leisure, restaurant and hotel developments, as well as office and residential. Goldbeck UK has entering into a pre-contract service agreement (PCSA) with the council - which will finalise the cost and design of the building - before entering into a development agreement later this year. The project will be the biggest undertaken by Goldbeck’s UK subsidiary. It will finance its construction through its group investment company Indigo. On completion Cardiff Council, using its long-term borrowing powers with the Treasury’s Public Works Loans Board (PWLB), will acquire the building. The council’s cost, while yet to be finalised, will be around £60m. The payment of interest and capital on its PWLB borrowing will partly be covered from savings generating by operating a smaller and more energy efficient building that its current 270,000 sq ft County Hall building. The existing building will be demolished with the land freed up for mainly residential development at Atlantic Wharf. The building will also provide new studio and production facilities for the Wales Millennium Centre to help training and developing talent in the performing arts. It will arranged its own funding mechanism for ownership post construction. Craig Davies, managing director of Goldbeck UK, said: “The new County Hall to be built by Goldbeck UK for Cardiff Council at Atlantic Wharf will use our industry-leading construction model to deliver an operationally zero-carbon building. “The new office space will provide a modern working environment more closely tailored to the council’s needs and have significantly lower operating costs to the current building it replaces. "As we manage all aspects of the project from architectural design to the manufacture of materials and assembly on-site, we ensure tight cost control, which is a top priority for Cardiff Council and vital to the success of the Atlantic Wharf area redevelopment as a future working and cultural hub for the city.” He added: “Atlantic Wharf is exactly the type of mixed-use sustainable development project delivering modern commercial space, private and affordable housing and leisure facilities, with new urban infrastructure, that is urgently needed across the UK to support local communities and drive the country’s economic growth. The UK potentially will be the biggest construction growth market in Europe over the next 10 years.

Plans for more than 1,000 new homes in major mixed-use scheme for Porthcawl
Commercial Property 2025-12-11 17:09:04

Plans for more than 1,000 new homes in major mixed-use scheme for Porthcawl

New plans to transform the seaside town of Porthcawl with1 ,100 new homes as well as shops, cafes, restaurants, and leisure attractions, can be revealed. The developments are part of a new masterplan released by the local council ahead of planned public consultations. The consultation, set for next month,, will also come alongside a special exhibition event for the long-running plans which include a range of leisure and infrastructure developments for the area alongside the creation of up to 1,100 new homes. Most notably the proposals will include new "stepped" coastal defences at Sandy Bay, as well as the creation of a pump track, skate park, and mini-golf course along with new shops, cafés, and restaurants. It also includes the construction of 1,100 new houses across three areas of the town with up to 450 at Sandy Bay, 200 at Coney Beach, and up to 450 at Salt Lake with plans also intended for the popular Griffin Park to triple in size. Additionally plans could see space set aside for the town to host seasonal events such as fairs as well as overnight parking for motorhomes at Sandy Lane with room for Newton Primary school to expand. There could also be a number of car parking developments with a potential multi-storey car park featured at Salt Lake along with the "redevelopment" of the existing open air car park at Hillsboro. With part of the land set aside for the development the town will also see the closure of its iconic Coney Beach Amusement Park in the coming years after more than 100 years of business in the area. Speaking ahead of the consultations Councillor Neelo Farr of Porthcawl said the final proposals had included as many ideas and facilities suggested by local residents as possible. She said: "Public consultation has proven to be a cornerstone of our efforts to regenerate Porthcawl and you only have to look at the illustrative masterplan to see how we have included as many of the ideas and facilities suggested by local residents as possible into our final stage proposals. "Whether it is a pump track and skate park, a multi-use games area, room for new shops, cafes, restaurants and kiosks, pocket parks, interactive fountains and water features, new play areas for children of all ages, extensive green landscaping, potential mini-golf and overnight parking for motorhomes, or just plenty of flexible open space which can be used to host seasonal events ranging from fairs and fairground rides to ice rinks and speciality markets the waterfront regeneration masterplan really demonstrates the scope of Bridgend County Borough Council and Welsh Government's joint ambitious vision for the area. "With a substantial green corridor winding through the regeneration zone before reconnecting with the waterfront Griffin Park could more than triple in size and benefit from a wide range of new facilities, such as a climbing wall and a fully equipped fitness trail, while Sandy Bay will be transformed with new coastal defences in the form of impressive stepped revetments leading down onto the beach and all-new retail opportunities facing out onto the promenade. "The plans include just over a thousand new community-focused homes suitable for families, people who live alone, couples just starting out, older people, and more. In response to concerns that younger residents of Porthcawl feel unable to afford local properties we are also ensuring that half of this new housing will be made up of affordable modern homes." She added: "To make sure that the housing element is fully rounded we have also included a huge variety of opportunities for new leisure infrastructure as well as shops, cafes, and restaurants, space to allow potential expansion and growth at Newton Primary, and evenly-distributed parking facilities. "Visitor parking is also accounted for with new parking at Coney Beach, a redevelopment of the existing open air car park at Hillsboro, and options for providing additional 'edge of town' overflow facilities along with suitable links. "We have also proposed introducing landscaped natural play areas including adventure, woodland and tree-top play facilities, studio space suitable for creative industries, cycle hubs, a duneside park featuring enhanced habitats, raised boardwalks, activity and viewing platforms, event space, and much more." The full proposals will now be revealed at an event held in the Hi Tide Inn in Porthcawl between 9am and 7.30pm on Monday, February 3, where people will be able to see the new plans and engage with regeneration officers from both the council and Welsh Government.

New property agency launches
Commercial Property 2025-12-11 06:54:30

New property agency launches

A new agency specialising in the logistics sector in the Midlands has been launched by two experienced property professionals. Ed Cole and Richard James-Moore have unveiled Incore which will focus on land, development and leasing across the warehouse market. The duo were previously senior directors at property consultancy JLL and each has 20 years of experience in the sector. Incore will operate as a dedicated, director-only service covering the national market for large warehouses with a physical presence in the core Midlands and South regions. 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. Mr Cole said: "We are really excited to launch Incore at this point in the cycle where we believe we can utilise our accumulated market knowledge and relationship network to add real value for our clients. "As the market moves into a new phase full of opportunity but not yet free of challenges, we believe our offering of highly experienced, hands-on advice can be a valuable source to both familiar and new clients in the sector." Mr James-Moore added: "It is very exciting to bring Incore to the market, providing clients a unique niche agency offering with director-led advice from both Birmingham and London and an entrepreneurial energy." Mr James-Moore has spent the last seven years at JLL where he led the Midlands industrial and logistics teams from its base in Birmingham city centre. He has advised on multiple key development projects including the strategic rail freight hub called West Midlands Interchange near Cannock and the award-winning Coventry Logistics Park. Mr Cole spent 16 years at JLL, becoming head of national logistics in 2018.

Cardiff's Debenhams department store now nearly fully demolished
Commercial Property 2025-12-16 17:38:23

Cardiff's Debenhams department store now nearly fully demolished

The Debenhams department store in the city centre is now no longer. Photos show the scale of the demolition work that has been completed at the site of the store, which used to be one of the busiest in the capital. The city's Debenhams was first built in 1981 and opened the following year as one of the cornerstones of the original St David's shopping arcade. The vast shopping area spread over several floors was open for 39 years before the 242-year-old chain went into administration in 2021. In a sign of the huge changes that city centre retail have faced in recent years, the site remained empty for several years before the owners of the St David's shopping centre, Land Securities, submitted plans last August to demolish the site and replace it with a public square. Today, almost the entire interior of the site has been demolished leaving only the facade of the building In place of Debenhams, Land Securities (Landsec) has plans to change the area into a public square. The plans include a water fountain splash pad, a performance stage as well as the possibility for the space to be used to host markets, local street food vendors and other events. The city centre landowning giant has said its £17m plan will create a 102,000 square foot public space surrounded by two new restaurants, smaller kiosk-style units opening onto the square for food and beverages and a leisure space. Helen Morgan, centre director at St David's Cardiff, said: "The development of a new city square on the former Debenhams site is very exciting for St David's and for the city. This investment means we can unlock the potential of this currently under-used area and bring life and value back to this part of Cardiff.

Plans for new 120,000 sq ft Senedd headquarters building out to tender
Commercial Property 2026-01-06 20:33:08

Plans for new 120,000 sq ft Senedd headquarters building out to tender

The Senedd Commission has issued a tender for a new 120,000 sq ft headquarters building in Cardiff Bay. The corporate body of the Senedd is inviting bidders to submit proposals for a new office location to replace its existing Ty Hywel home - a 1990s red brick building connected to the Senedd debating chamber via an enclosed walkway. The Senedd’s current lease on Ty Hywel with landlord Equitix, expires in 2032. The lease carries an annual rent of £2.3m, exclusive of VAT. While a decision will not be made until the end of the year, an invitation to tender will remain open until next month. The tender states: “The Senedd is seeking to procure accommodation of approximately 11,000 sq mts (around 120,000 sq ft), with at least 90% of its capacity in close proximity to the existing Senedd building. “The accommodation must allow for all required direct infrastructure links between the two buildings and be sufficiently close to ensure the secure, free flow of Senedd Members and staff between the new accommodation and the Senedd building.” However, the Senedd could opt not to pursue a new-build option and instead negotiate a new lease with Equitix to remain in Ty Hywel beyond 2032. This would require significant investment in the building, which, from 2026, will also need to accommodate additional Senedd Members and their teams. There is also potential for the Welsh Government to acquire the building from Equitix and lease it back to the Senedd. As a repairing and insuring lease the Senedd is responsible for maintaining the building, where there is understood to be a liability for replacing windows at a cost of several million pounds. The Senedd doesn’t have financial reserves to purchase the building itself and operates on an annual budget (2025/26) of £84.3m. Property advisory firm Avison Young is assisting the Senedd in evaluating its property options, focusing on the best outcome for the public purse. If a decision is made to construct a new building, the Senedd is providing enough time for planning approval, construction and fit-out. If the Senedd decides to vacate Ty Hywel a new building would cost potentially around £60m. To make any project financially viable, a selected developer would require the Senedd to commit to a long-term lease - potentially up to 40 years. Given current construction and borrowing costs a new office building in Cardiff would need pre-let agreements at around £40 per sq ft for leases of shorter duration. Cardiff’s current headline office rent currently stand at £28 per sq ft, compared to nearly £50 in Bristol. A new-build agreement could also eventually see the freehold owned by the Senedd or the Welsh Government. A Senedd spokesperson said:“The lease on Ty Hywel runs out in 2032, and there are several potential options for the long-term office needs of the Senedd. “We have a narrow window of opportunity to explore these options thoroughly and credibly to ensure the best value for taxpayers’ money. We are conducting a procurement process in line with HM Treasury advice to identify the best long-term solution. “We recognise that times are incredibly tough across Wales, and our absolute priority is securing the best possible value for money.” If a new building is approved, the rent would be higher than that for Ty Hywel. However, it would be a far more energy-efficient and purpose-built facility, potentially making the overall cost neutral. A potential location for a new building is a vacant development site adjacent to the Senedd chamber. Cardiff-based property developer Rightacres acquired two connected parcels of land (known as 1 and 2 Assembly Square) from financial services giant Aviva in 2023. A potential location for a new building is a vacant development site adjacent to the Senedd chamber. Cardiff-based property developer Rightacres acquired two connected parcels of land (known as 1 and 2 Assembly Square) from financial services giant Aviva in 2023. With the Senedd seeking direct infrastructure between any new building and the debating chamber, there would seem to be limited alternative choices. There is Porth Teigr, a nearby site owned by the Welsh Government after its acquisition from Igloo, a sustainable real estate fund managed by Aviva. The Welsh Government is currently developing a masterplan for the 30-acre site. In theory, the Welsh Government could finance a new-build project itself using its mutual investment model, a long-term repayable financing method. Another option that could be ruled out is Atlantic Wharf, where Cardiff Council has long-term plans for a major mixed-use development centered around a new indoor arena. While at an early stage of planning, Cardiff Council is also considering a public sector hub as part of the wider Atlantic Wharf development. The hub could span 500,000 sq ft and include a new 100,000 sq ft headquarters building for Cardiff Council. The council's existing 240,000 sq ft headquarters at Atlantic Wharf is set to be demolished to make way for further development. If the Senedd moves, Ty Hywel (formerly known as Crickhowell House) may struggle to attract new tenants in the current market, while repurposing it for residential use would be costly.

Insurance firm to relocate to Cheltenham's Grange Park
Commercial Property 2025-12-17 03:48:36

Insurance firm to relocate to Cheltenham's Grange Park

A major business park in Cheltenham has secured a Worcestershire-based insurance firm as its latest tenant. Grange Park, a large office scheme on the site of Zurich Insurance's former HQ in Bishop’s Cleeve, has agreed a lease deal with Marley Risk. Marley has taken 18,500 sq ft of office space, which is being fitted out ready for the company's relocation from Evesham. The firms joins businesses within the park including Capita, Polo Works and Regus. Marley specialises in latent defect insurance claims management and works with insurers in the LDI market. The company's chief executive, Kevin Drain, said: “The move to Grange Park reflects our commitment to providing an enhanced workplace experience for our employees and a dynamic environment for collaboration and creativity. "Our new office not only strengthens our ability to serve our clients more effectively but also reinforces our philosophy of excellence and continuous improvement.” THP Chartered Surveyors of Cheltenham and JLL Bristol acted on behalf of the landlord and Noyes Lewis Commercial Property in Cheltenham acted for Marley. Letting agent Richard Crabb of THP said: “We are delighted with this deal. This is on of the largest single lettings in the county in recent years and it underscores Grange Park’s growing reputation." Ian Wills from joint agents JLL added: “This letting illustrates Grange Park’s flexibility. From this most significant letting to a single desk in the Manor House, there really is nowhere else like it.” Regus, which operates serviced office space in the Manor House, is now 72% occupied while the remaining 5,500 sq ft of Phase 1 refurbishment of The Grange is under offer. The space for Marley Risk is part of Phase 2 which delivers a total of almost 30,000 sq ft of space. Almost 60,000 sq ft has already been let out, Grange Park said. The sustainable building, which is only four miles from Cheltenham Spa train station, is gas-free, with all heating and air conditioning powered by electricity. Solar panels, which generated 6,722 kWh of electricity in June, provide clean energy to the building’s common areas.

City of London approves major new skyscraper on doorstep of UK's busiest station
Commercial Property 2026-01-05 13:02:03

City of London approves major new skyscraper on doorstep of UK's busiest station

The City Corporation has greenlit a 54-storey skyscraper adjacent to the UK's busiest station, as the demand for office space in London continues to surge. The development at 99 Bishopsgate is poised to become one of the tallest structures in the Square Mile, with plans to offer at least 1.2 million square metres of office space by 2040, as reported by City AM. Designed to meet the "highest level" of sustainability standards, the skyscraper was proposed to cater to the "increasing demand for new office schemes of this kind" according to the City Corporation. There's a growing appetite for well-connected, eco-friendly, and top-tier buildings in the capital, driven by stricter environmental regulations on offices and companies' efforts to attract employees back to their desks. The project will feature a 'City Market' on the ground floor, providing retail, food, and beverage options. "The 99 Bishopsgate scheme will give the Square Mile one of the largest public realm upgrades from a single planning application in recent history, increasing the ‘walkability’ of the City, so that it becomes a safer and more pleasant place to travel through," stated Shravan Joshi, Chair of the City of London Corporation’s Planning and Transportation Committee. Joshi also remarked that the approval of the site "speaks to the confidence that global investors have in the local real estate market, as well as the UK economy, more widely." This approval signals an influx of new structures set to reshape the capital's skyline. Recently approved projects such as the 74-storey One Undershaft, the 63-storey 55 Bishopsgate, and the 36-storey 60 Gracechurch Street are all set to reshape the City's skyline. According to global property consultancy Knight Frank, prime rents in the City have surged by 16 per cent over the past year, with availability standing at a mere 0.5 per cent.

New serviced office hub coming to Birmingham
Commercial Property 2025-12-30 23:24:31

New serviced office hub coming to Birmingham

A new serviced office hub is coming to Birmingham's business district. Leeds-based workspace provider Gilbanks has announced plans to create a 22,000 sq ft hub in the Five St Philips building off Colmore Row after signing a 15-year deal. It will be the company's fourth operation when it opens in September, joining two sites in Manchester and another in Leeds. Planned facilities include changing rooms, an event suite overlooking Birmingham Cathedral and a club lounge reception. 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 firm will work with managing agent JLL to provide reception services and operate the communal amenities. Will Hawking, sector lead at landlord Royal London Asset Management Property, said: "We are committed to delivering best-in-class, sustainable workspace across the UK so it is important for us to work with partners who share that outlook. "The partnership with Gilbanks raises the bar and sets a new blueprint for multi-let office buildings." Property agencies CBRE, Knight Frank and Savills acted on the deal.

Birmingham office block sold
Commercial Property 2025-12-11 02:26:17

Birmingham office block sold

An office block in south Birmingham has been sold. Two Devon Way, in Longbridge, has been offloaded by St Modwen to UKO Serviced Offices for £3.75 million. The 29,479 sq ft office building was built in 2007 by St Modwen and is used as its head office as well as being let to engineering consultancy Wardell Armstrong. St Modwen is leading the long-running regeneration of Longbridge following the collapse of car manufacturer MG Rover in 2005 including building new housing, offices and retail space. Birmingham-based property agency MK2 sold the building on behalf of St Modwen. Director Mark Johnson said: "Longbridge is emerging as something of a hotspot in the M42 office market, with occupiers favouring its fast transport links, good local labour supply and excellent ESG credentials. "Product doesn't come up too often here, so interest in this freehold investment opportunity was keen."

Avison Young wins Alexander Stadium brief
Commercial Property 2026-01-03 23:02:55

Avison Young wins Alexander Stadium brief

Consultancy Avison Young has been appointed as property manager for the Alexander Stadium in Birmingham. The athletics stadium in Perry Barr, which was the centrepiece of the 2022 Commonwealth Games, is also set to become the first UK stadium to host the European Athletics Championships when it comes to the city next year. A £72 million investment was made to upgrade the stadium for the Commonwealth Games while surrounding infrastructure such as Perry Barr station also underwent improvement work. The stadium's transformation includes the creation of commercial spaces in the new West Stand, sporting facilities and tenanted areas in the West and East stands. 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. Last year, Birmingham City University relocated its sport and exercise science campus to the stadium, using its own funding to fit out the spaces. The move included repurposing the areas beneath the East and West grandstand seating which has now been established as office and teaching spaces. The development has created two multi-let commercial buildings that stand on their own estate. Current occupiers in the stadium also include Birchfield Harriers athletics club, Corporate Sporting Events and UK Athletics. Avison Young has been appointed to provide guidance in establishing an appropriate and transparent management framework that aligns with the characteristics of the complex. The firm will provide surveying and accounting services to manage landlord and tenant relationships. Its appointment represents an extension of the work Avison Young is already undertaking for the stadium's owner Birmingham City Council across a range of other commercial assets. Guy Thompson, principal at Avison Young UK, said: "We are proud to be involved in supporting the legacy of the Commonwealth Games and contributing to the long-term success and evolution of Alexander Stadium. "This distinctive asset presents an exciting and unconventional challenge. We are committed to maximising the value of the investment and enhancing the stadium's role as a key asset for the city and wider region." Cllr Mariam Khan, cabinet member for health and social at the city council, added: "Collaborating with Avison Young will be instrumental in enhancing the relationships with our partners based at Alexander Stadium. "Their expertise in bespoke property management makes them an ideal partner to help us unlock the full potential of the stadium.

Historic Birmingham building on the market
Commercial Property 2025-12-19 20:32:25

Historic Birmingham building on the market

An historic Birmingham building at the centre of plans to create a new hotel and leisure complex has been placed on the market. Methodist Central Hall, in Corporation Street, is being marketed by property agencies Savills and Sanderson Weatherall but a guide price has not been disclosed. Built in 1904 by local architects Ewan Harper and James A Harper, the grade II*-listed, terracotta building totals 90,400 sq ft of space. It is a well-known landmark in the city centre, once home to the famous Que Club until 2017 which hosted a wide range of bands such as Daft Punk, David Bowie and Blur. 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. But it has been mostly empty for many years, has fallen into a state of disrepair and has previously been named on Heritage England's At Risk Register. In 2022, Irish outfit Press Up Hospitality and sister company Oakmount won planning consent from the city council to regenerate the building to create a new 155-bedroom hotel called 'The Dean'. Other plans include a rooftop restaurant, food and beverage units and restoration of the central hall for events while a three-storey extension would be added to the building's roof. The developers estimated that the project could create 400 jobs. However, no work on creating the mixed-use complex has taken place and last year receivers were appointed by the project's funder. Michael Maguire, director in the Savills Birmingham development team, said: "The sale of Central Hall presents a rare freehold development opportunity to acquire arguably one of Birmingham's most iconic Victorian buildings in Birmingham city centre.

JD Sports updates plans for new 'campus' HQ that will 'rival Facebook and Google'
Commercial Property 2026-01-01 20:44:23

JD Sports updates plans for new 'campus' HQ that will 'rival Facebook and Google'

JD Sports, the fashion retail behemoth, has unveiled revised plans for a campus headquarters in Bury, which company leaders claim will 'rival Facebook, Google and Nike'. The proposed development at Pilsworth, near the M66, includes an all-weather sports pitch, running track and padel court for employees and guests. Preliminary plans for the campus were approved in 2023, and new road access and car parking off Pilsworth Way and Hollins Brook Road have been completed. JD Sports previously stated that they needed to invest millions into the working environment in Bury to 'attract talent' and compete with the facilities offered by global brands and tech firms. Bury Council's planning committee will review detailed plans for 'phase two' of the project next week. The new hub would be a three-storey building serving as a 'central office', featuring offices, a gym, restaurant, cafe, meeting rooms, training facilities and a presentation theatre with outdoor terraces. The building, designed with two wings connected by a central atrium and linked on the first and second floors by a bridge, could accommodate around 2,000 workers. Nearby, multi-purpose all-weather pitch and circular running track would be constructed. The latest plans have scaled down the building from four storeys to three, and previously approved plans for an employee crèche have now been scrapped, reports the Manchester Evening News. JD Sports, currently operating out of three buildings on Pilsworth Road and employing around 1,300 people, is one of the largest employers in Bury. The sports and leisure firm referred to the creation of the campus as 'a pinnacle moment in our company's history' when the outline plans were approved. A design and access report supporting the latest plans stated: "The business is seeking to work with their employees to improve staff retention." It further added, "JD recognise the need to update and improve on the benefits that the business provides for employees. The requirements include an improved food and beverage offer on site, gym and recreation facilities, training environments and collaborative working spaces." The planning committee meeting will decide on the application on Tuesday, January 28.

Oil distributor opens new regional head office and two depots
Commercial Property 2025-12-12 19:25:33

Oil distributor opens new regional head office and two depots

A UK oil distributor has opened a new regional head office in Exeter along with two South West depots in Avonmouth and Plymouth. Your NRG said the expansion would mean it was able to supply commercial fuel and domestic heating oil across Gloucestershire, Wiltshire, Somerset, Devon and Cornwall. The opening of the the two new South West depots brings the number in the Your NRG network to 17. The company supplies more than 600 million litres of fuel and heating oil to homes and businesses across the UK, including in the Midlands, East Anglia and the North of England. "The opening of our Avonmouth and Plymouth depots is a proud moment for Your NRG. It reflects our ongoing commitment to ensuring that homes and businesses across the South West have access to reliable, cost-effective fuel solutions," said Lee Reason, commercial director at Your NRG. The Avonmouth depot will cater to domestic and commercial fuel customers, while the Plymouth depot will supply commercial fuel. "At Your NRG, we’re driven by the needs of our customers," added Mr Reason. "The Avonmouth and Plymouth depots allow us to better serve families, farmers, and businesses in the South West, ensuring they have access to affordable, high-quality fuel when they need it most."

Manchester's building boom falters to 'lowest level in 10 years' as huge developments fall through
Commercial Property 2025-12-10 15:20:37

Manchester's building boom falters to 'lowest level in 10 years' as huge developments fall through

The great Manchester building boom slowed to its lowest level in a decade, the latest Deloitte crane survey has shown – but analysts are optimistic there's more development to come. The city saw the start of only 20 new construction projects in 2024, which the survey said was the 'lowest level in 10 years'. Despite the successive decline in new starts over three years, John Cooper, infrastructure and real estate partner at Deloitte, holds an optimistic view regarding Manchester's prospects. He said: "You only need to look at the skyline in Manchester to see just how much the city has changed over the last decade, as it has transformed it into a dynamic innovation hub. Our survey's findings demonstrate that despite ongoing pressures and a decrease in new starts, Manchester's construction sector remains active." In the combined area of Manchester and Salford, there were 58 developments under construction over the past year. That led to an 'significant increase' in completed projects, with 27 reaching completion. Residential initiatives were central to the construction sector, with 4,448 new homes finished in the previous year, while another 10,788 homes were still being built. With residential projects constituting over half of the new schemes and approximately 9,000 additional homes predicted to be ready within two years, market analysts suggest that "Manchester is on track to exceed the average annual demand for homes", reports the Manchester Evening News. Mr Cooper, said: “Despite economic headwinds and political uncertainty shaping much of 2024, the residential market in Manchester continues to deliver strong results. “The city’s commitment to addressing housing needs and the projected completions of approximately 9,000 new homes over the next two years means Manchester is on track to exceed the average annual demand for homes, identified in Greater Manchester policy.” “With Manchester’s leading higher education institutions also bringing in thousands of students every year, the city’s student residential sector is continuing to deliver more bedspaces, with a number of new permissions granted to ensure growing student demands can be met.” Office openings in Manchester have seen a significant increase, with 1.07 million sq ft marking the largest total since 2020. However, concerns persist about the lack of new office space available in the city centre in the coming years Mr Cooper added: “The shift to hybrid working patterns has created an opportunity to deliver high-quality office space that prioritises collaboration and sustainability. Manchester has certainly embraced this trend whilst seeing a shift towards refurbished offices which represents 68% of the total floorspace under construction in 2024. The pipeline of activity is strong, ensuring Manchester remains at the forefront of hybrid, sustainable office spaces that cater to changing working dynamics.” Professor Duncan Ivison, Vice-Chancellor of the University of Manchester, emphasised 'there is more to do' in 'attracting top talent to the city-region and empower them to push the boundaries of discovery and innovation'. In the hospitality sector, 258 new hotel rooms were completed last year, with an additional 1,181 expected by 2028. This expansion will support the growing demand for visits to Manchester, which has been boosted by the opening of Aviva Studios in 2023 and Co-op Live in 2024. Deloitte now estimates Greater Manchester's tourist economy to be worth £8.7b, a figure also bolstered by fans attending Manchester City and United matches. Last week BusinessLive reported on Manchester's big ambitions to become a £15bn tourist city. “Manchester boasts many unique cultural offerings, from its iconic music scene to its globally renowned football teams. New leisure developments are making the city a must visit destination, bringing world-class artists right to our doorstep. “The tourism sector was hit hard during the pandemic, however it’s clear that it has come out the other side stronger and more resilient, with Manchester alone accounting for £4.65 billion of tourism and supporting around 45,000 jobs. As a result, the demand for hotel rooms is growing further, with a strong development pipeline helping to ease strains on the sector.”

Manchester government hub hits key construction landmark
Commercial Property 2025-12-13 10:36:10

Manchester government hub hits key construction landmark

A new government hub in Manchester city centre has hit a key construction landmark as its developers are poised to announce who will win the tender for the next stage of work. The Government Property Agency (GPA) is set to open a hub in First Street that will house 2,600 civil servants from departments including the Department for Business and Trade (DBT), OFSTED and the Department for Education (DfE). Once the building is operational, more than 150 roles will be relocated to the city from several different government departments and agencies. Now the GPA has accepted the handover of the building after it reached practical completion of its Category A fit out. The works were completed by BAM Construct UK, on behalf of developer Ask Real Estate, and mean the nine-storey building is now ready for the internal fit-out to commence. The GPA says it has completed a competitive tender process for the subsequent fit-out works and that an announcement is due “in the next few weeks”. Parliamentary Secretary for the Cabinet Office, Georgia Gould, said: “It’s great to see the Manchester First Street Hub move onto this next stage of construction. “UK Government Hubs across the country help to consolidate our estate. Not only cutting waste by removing old inefficient buildings from our portfolio, but also giving people across the country the chance to work in the Civil Service, and driving economic growth in the local area.” Georgina Dunn, the GPA’s interim director of capital projects, said: “It’s very gratifying to reach this significant stage in the programme. This new state-of-the-art office will provide a home for civil servants from across the government in Manchester, making it one of the largest hubs for cross-departmental collaboration and operation outside London. The GPA remains immensely proud of the industry-leading sustainability, accessibility and workplace standards delivered by the Government Hubs Programme.” John Hughes, managing director at Ask Real Estate, said: “Bringing the GPA hub to practical completion is a huge testament to our commitment to driving sustainability in the workplace sector. Achieving a NABERS 5.5 Design for Performance rating – the first building in Manchester City Centre to reach this milestone – supports the high ambitions set by HM Government. “First Street and its extended neighbourhood will be boosted significantly when the GPA takes occupation. Lead developer Ask Real Estate and its joint venture partner, Richardson, secured a full pre-let of the building to the GPA which then signed a lease with building owners PIC in 2022. The £105m development was forward-funded by Pension Insurance Corporation (PIC). Its head of real estate origination, James Agar, said: “We are delighted to have reached practical completion on such an important project for PIC. The First Street hub is a great example of what can be achieved through public private partnerships. “The sustainability and ESG focus of this best-in-class building are clear to see, these were a key element of our investment case for the asset which will help us to pay the pensions of our policy holders. “The building deepens our relationship with the GPA and will assist the UK Government in delivering the transition to Net Zero. We look forward to the GPA taking formal occupation of the building and welcoming more than 2,500 civil servants to the site.”

Newcastle investors support £2m renovation of historic North Yorkshire hotel into wedding venue
Commercial Property 2025-12-19 10:45:36

Newcastle investors support £2m renovation of historic North Yorkshire hotel into wedding venue

The £2m transformation of a spa hotel near Darlington into a wedding and events venue has been completed following funding support from North East investor Tier One Capital. The Apartment Group's redevelopment of The Croft Hotel in Croft-on-Tees has already created 17 jobs, with the expectation of more in the future. The Newcastle-based leisure group, which owns and operates hotels, restaurants and bars across the North East, acquired the Grade II listed property in early 2023 for an undisclosed sum and set about upgrading it to fit its portfolio of wedding venues. Funding from the Develop North fund has helped the firm carry out extensive renovations including the building of six new bedrooms to add to the 24 at The Croft, a refurbished function suite, upgrades to the hotel's restaurant, wellness facilities, landscaped gardens and an 'enchanted wedding chapel'. It is the latest project for The Apartment Group which has specialised in renovating historic properties for the wedding market, including Grade II listed Whitworth Hall and Lartington Hall in County Durham, among others. The Croft Hotel was originally built in the early 19th century as a spa hotel and lies close to key tourism areas including the North York Moors and North Pennines Area of Outstanding Natural Beauty. Stuart Bailey, CEO of The Apartment Group, said: "The Croft Hotel has become an outstanding addition to our portfolio, and the investment has delivered a spectacular setting for weddings and events. It’s been incredible to see how the venue is now flourishing with couples from across the region choosing to celebrate their special day here. Develop North’s support was invaluable in realising our vision for the hotel, which has created new jobs and provided a real boost to the local economy. It’s fantastic to partner with a fund that truly believes in the potential of businesses like ours." The London Stock Exchanged-listed Develop North fund is managed by Newcastle-based wealth management and fund management firm Tier One Capital. To date, it has invested more than £80m in residential and commercial property developments in the North of England and Scotland.

£8m revamp completes at Birmingham hotel
Commercial Property 2025-12-28 12:13:04

£8m revamp completes at Birmingham hotel

An £8 million refurbishment project has been completed on a landmark Birmingham hotel. The work at the Crowne Plaza hotel, in Holliday Street, has seen all 312 bedrooms updated including its club rooms and two suites while accessibility options have been upgraded with two fully accessible wet rooms. Work in the rooms includes upgrades to its tech such as more sockets and digital cable ports and enhanced desk space. During the renovation work, more than 1,500 pillows and hundreds of duvets, mattress toppers and protectors have been donated to those in need. 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. This latest project represents the final phase of renovations at the well-known hotel, following the transformation of its ground floor lobby and bar areas in 2022. General manager Siobhan Thomasson said: "After listening to our guests and their feedback, we've created rooms that are not only stylish and comfortable but also highly functional. "Our thanks go to hotel refurbishment specialists County Contractors for their work as guest feedback for the new rooms has been fantastic. "Our investment in this refurbishment mirrors Birmingham's own growth and ambition and is a fitting representation of the city's progress, reflecting the innovative and welcoming spirit of the place we call home. "At the same time, sustainability is a core part of who we are and we're committed to making a positive impact. These efforts not only reduce waste but also support some of the city's most vulnerable residents. "We're proud to provide guests with a space that blends style, functionality and sustainability, offering an experience that truly reflects the vibrancy and diversity of Birmingham."

Spares business secures news warehouse for expansion
Commercial Property 2025-12-11 17:37:28

Spares business secures news warehouse for expansion

An agricultural spares business has expanded after securing a property deal for 10,000 sq ft of warehousing. Agriline Products has purchased the freehold of Unit 2 on Harris Business Park in Stoke Prior near Bromsgrove to facilitate the distribution of larger orders for stockists across Europe. The property was on the market for £895,000. Founded in 2000, Agriline Products has grown to become one of the largest suppliers to the tractor spares market worldwide with a range of over 15,000 parts. The company already occupies another unit on Harris Business Park. Founder and managing director Oliver Stiley said: "The purchase of an additional industrial unit will provide considerable additional warehouse space to augment Agriline Products' existing warehouses on Harris Business Park which were getting a bit cramped for the volume of stock being handled. "This additional space will improve the efficiency of distributing our larger stock orders for customers across Europe."

Harworth reports record 2024 on path to £1bn assets
Commercial Property 2026-01-08 13:24:15

Harworth reports record 2024 on path to £1bn assets

Property firm Harworth says it is on track to accumulate £1bn in assets by the end of 2027 after what it described as a record year. The Yorkshire-based developer and landlord says that as key land sales complete, it is confident of meeting its target of £1bn European Real Estate Association Net Disposal Value (EPRA NDV) - a key measure of assets used by real estate investment trusts. In a trading update to the London Stock Exchange, Harworth pointed to its £106.6m deal with Microsoft for land at the site of the former Skelton Grange power station near Leeds and completion of a £53.5m sale at Ansty in Warwickshire. Bosses also pointed to a record 2,385 residential plots sold, including 13 deals with a headline sales value of £104.1m, and against a group target of 2,000 plot sales on average per year. Those deals included national and regional housebuilders and affordable housing providers. Meanwhile there was 4.4m sqft of industrial and logistics land sold for £230.1m, giving Harworth a pipeline capable of delivering 33.6m sqft of space. Following a spate of planning approvals, the group now has 8.4m sqft of industrial and logistics land with consents. During the year 100,000 sqft of direct development was completed and Harworth was on site at the year end with another 270,000 sqft of space which is expected to be completed within a year that is anticipated to bring £2.7m annualised rental income. The majority of the space (68%) was kept in the group's investment portfolio with the remainder built for owner occupiers. Lynda Shillaw, chief executive of Harworth, said: “2024 has been a record year for Harworth operationally and, as we enter 2025, we remain confident in our ability to reach our £1bn EPRA NDV target by the end of 2027. "We have an extensive platform to scale the business, owning and controlling a sizeable land pipeline capable of delivering 33.6m sqft of industrial and logistics space and 31,264 new homes, and we remain well positioned in structurally undersupplied sectors that are fundamental to the UK's economic growth. With low debt and high available liquidity, we are well placed to take advantage of opportunities whilst remaining resilient through the near-term macro-economic uncertainty. "The consistency of Harworth's performance over time continues to highlight the agility and resilient nature of our business model, and our team's expertise in identifying and driving significant latent value from the portfolio. We continue to make solid progress in delivering our strategy and are confident in our ability to continue to drive both strong returns and long-term value from our landbank and development activities."

Revamp for Jewellery Quarter office block
Commercial Property 2026-01-09 20:09:48

Revamp for Jewellery Quarter office block

An office block in Birmingham has undergone a renovation project. The facelift work at the Jewellery Business Centre, in the historic Jewellery Quarter district, includes new breakout space for collaboration and relaxation and a refreshed reception area. There is also a new dedicated postal room, redecorated corridors, new signage and other work to the building's décor. 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. Landlord Northern Trust Company carried out the project in Spencer Street in collaboration with Rota Contracting and Poppy Signs. Business centre manager Lisa Whitcombe said: "Northern Trust is dedicated to creating high-quality workspaces that meet the evolving needs of our occupiers. "These improvements reflect our ongoing investment in the Jewellery Business Centre and underline our commitment to supporting businesses in Birmingham's Jewellery Quarter." The building has flexible space able to accommodate single occupiers up to small businesses.

Gloucester Quays shopping centre hails 'record year'
Commercial Property 2026-01-02 19:43:10

Gloucester Quays shopping centre hails 'record year'

The owner of Gloucester Quays has reported a record year for the shopping centre following a successful Christmas trading period. Growth in sales in 2024 meant the outlet finished off the year 6.7% ahead of the national average, according to Peel Retail & Leisure. The Gloucestershire shopping destination was also boosted by Black Friday and some retailer offers in advance of that date, the company said. Across November and December, retail sales grew by 3.6% compared with 2023 – which was itself a record year – and food and drink sales were up 7.6%. The performance uptick was supported by the free-to-attend Christmas market, with more than 100 stalls. In 2024, an overall 7.4% year-on-year sales increase across Gloucester Quays’ current tenants was split between 6.1% for retail and 8.5% for food and drink outlets. Double-digit growth from fashion, homeware, and outerwear brands including Next, Skechers, All Saints, Mountain Warehouse, Puma, Crew Clothing, Le Creuset, and Suit Direct was boosted by new lettings for Pret a Manger and Bakers & Baristas. Paul Carter, asset director at Peel Retail & Leisure, said the results were a reminder of "how relevant and in demand" the outlet is. "There have been various headlines this month about how challenged retail was around Christmas, so to have Gloucester Quays performing so well is a real credit to our team and our brands," he said. "We have experienced consistent growth for several years, and that success can be put down to the quality of our offer and waterside environment. "There is no doubt our catchment is responding to how we have evolved Gloucester Quays, as an urban outlet that combines a compelling shopping environment with dining and leisure to fit all tastes and needs, benefitting from a heritage waterside setting that few regionally can match.” This news follows an announcement in December by Peel that it had agreed 20 leasing deals over the year including with a number of major high street brands. Among the 11 brands to renew at Gloucester Quays are French-Belgian kitchenware brand Le Creuset, which invested in a new fit out, and international lifestyle and athletic footwear retailer Skechers, which increased its footprint at the destination by 50%.

Historic Llancaiach Fawr Manor brought to market
Commercial Property 2026-01-07 14:31:09

Historic Llancaiach Fawr Manor brought to market

The historic Llancaiach Fawr Manor venue has been brought to market by Caerphilly County Borough Council. Avison Young is marketing the leasehold interest in the grade I listed manor house and accompany buildings, located in the Rhymney Valley. The venue, which dates back to 16th century, was closed by the local authority in December as part of cost-saving measures as it faced a £45m budget deficit. In 2023/24 visitor numbers exceeded 61,000. The site’s current license allows for up to 5,000 visitors at any one time. The council secured funding from the Heritage Lottery Fund in 2013 to undertake renovations to the venue. Prior to initiating a formal market exercise, the historic attraction received high levels of interest from potential third-party operators looking to run the site in a commercial capacity. Leo Llewellyn, associate, Leisure at Avison Young UK, said: “We are very pleased to be supporting Caerphilly County Borough Council to bring this one-of-a-kind property to market. Steeped in history and carefully restored, Llancaiach Fawr Manor is a venue suitable for a range of uses, and we’re certain it will prove popular. “Avison Young has already received interest from prospective operators and we’re looking forward to bringing forward these discussions, while engaging with other interested parties. “We have a strong track record within the leisure sector, particularly in South Wales, and we’re delighted to be supporting Caerphilly County Borough Council to find the perfect operator to secure Llancaiach Fawr Manor’s long-term future.” Jamie Pritchard, deputy leader of Caerphilly County Borough Council, said: “We are committed to exploring options for the future of Llancaiach Fawr Manor. Avison Young has extensive experience in marketing leisure and hospitality venues, and I have no doubt that we will have a lot of interest. “The venue offers so much potential for new operators. What is certain is that the council will be looking for an operation that becomes a strong local economic driver and complements the existing leisure and hospitality offers in the county borough.

Travis Perkins cements Black Country presence with warehouse deal
Commercial Property 2025-12-21 11:53:51

Travis Perkins cements Black Country presence with warehouse deal

Builders' merchant Travis Perkins has acquired the freehold of its Peartree Lane premises in Dudley in a £1.3million deal. The business had previously let the prominent roadside warehouse from Birmingham-based mutual Wesleyan Assurance Society. MK2 Real Estate was instructed to sell the asset which comprises 15,953 sq ft of premises and a 13,993 sq ft yard on a one-acre site. Travis Perkins, which has more than 550 branches around the UK, previously had a 25-year lease on its Peartree Lane premises, expiring in 2026. Mark Rooke, a director in MK2's investment team in Birmingham, advised Wesleyan on the sale.

Premier Inn could make way for 14-storey student block
Commercial Property 2026-01-09 01:12:33

Premier Inn could make way for 14-storey student block

New plans have been revealed to redevelop the site of a Birmingham hotel into student accommodation. Under the proposals, the Premier Inn, in Essington Street, would be demolished to make way for a new 14-storey property containing 546 bedrooms. Other amenities at the site near Broad Street would include study space, a garden and terraced areas. A specialist operator would be appointed to run the accommodation and the hotel will continue to trade during the planning process. 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 brand's owner, listed group Whitbread, said the proposed move was part of its plans to build what it called a 'perfect portfolio' of locations across Birmingham. Currently, the business has eight venues in the city and is looking for two new locations in the Smithfield and Snow Hill areas. It is estimated there is a shortfall of more than 19,500 bedrooms for students across the city and full-time numbers are set to increase. Whitbread's senior development manager Richard Pearson said: "With a significant shortfall of student bedspaces across the city, our proposals would provide much-needed accommodation which offers the very best experience for students. "The building has been carefully designed to complement other properties on Broad Street and provide high-quality landscaping to enhance the neighbourhood. "I would like to thank our project team for all the dedication and commitment in getting the plans to the current stage and I am looking forward to talking to residents and our other local stakeholders through our plans in the next few weeks."

New self-storage facility launches
Commercial Property 2026-01-03 23:08:26

New self-storage facility launches

A new self-storage centre powered by the latest technology has opened in the Black Country. Wolverhampton-based Westbeech Group has launched its first Nest Storage centre on Old Hall Industrial Estate, in Revival Street, Bloxwich. Nest Storage is open 24/7 every day of the year with access granted via a mobile app. It is housed in what used to be a bowling alley on an industrial estate that was also once home to a snooker hall and gym. Westbeech Group owns a number of industrial estates across the West Midlands and is in negotiations over a second site in Wolverhampton. 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 Ian Houghton said they had researched the self-storage market for the past 18 months before electing to partner with Engage, a Birmingham-based business which runs and manages 22 similar units for different UK brands. "Self storage is a well developed industry but most of the big players in the market constructed their dedicated units in the past five to ten years," he said. "Since then, technology has changed dramatically what we can do and, particularly in the last 18 months, has taken giant strides forward. "We believe we are launching with a cutting-edge product that is designed for today's tech-savvy customers. "Our first unit has been custom designed with new technology inbuilt, whereas retrofitting can cost between £50,000 and £100,000 per site.

Pattinson Estate Agency sees 'flying start' to 2025 after year of expansion
Commercial Property 2025-12-30 11:35:17

Pattinson Estate Agency sees 'flying start' to 2025 after year of expansion

The founder of North East estate agency business Pattinson says the group has seen a ‘flying start’ to 2025 following a year in which it strengthened its position on the region’s high streets. Based at the Silverlink Business Park in North Tyneside, Pattinson operates an estate agency business and auction company and now has 30 offices across the region, having made key acquisitions over the last two years. New accounts covering 2023 have been filed by the firm, which show turnover increased 13.5% to £16.74m, though profit for the financial year dropped 11.8% to £1.78m. The company said the fall in profitability reflects its “continuing investment in our people and technology, as well as integrating other firms acquired during the year”, which was viewed as essential to safeguard the future growth and success of the business in the years to come. In the accounts, director Caroline Pattinson said 2023 was a year which continued to see challenges as well as opportunities. She said: “The property market continued to be disrupted by the continued increase of the Bank of England base rate throughout 2023. This certainly had an impact on the number of new properties coming to the market and saw more and more landlords leaving the rental market due to increased costs of finance. The increasing popularity of auction has been positive and we continue to innovate in this space.” After the figures were released, founder Keith Pattinson highlighted work which had been carried out in the months following the year end. He said: “2024 was a busy year for us on a lot of fronts. We increased the number of offices we have on the high street by taking over two well established estate agents who were choosing to retire in early 2024. “This has strengthened our position as the agent with the most offices in the region and we maintained our position as the estate agent who sold the most houses in the North East. Whilst banks are retreating from the high street we still see the need to be available to our customers and have a base for our teams to work from. He added: “We have expanded our head office into the neighbouring building as the business continues to grow and we continue to invest. The rentals market remains strong although there continues to be a shortage of rental properties and landlords are understandably concerned about some of the proposed changes to rental legislation. “2025 is off to a flying start and we are on track to increase the number of properties put on the market and sold in January and I am optimistic in the year ahead. I turned 75 last year and we celebrated 48 years of Keith Pattinson Ltd, I had plans to retire but I still enjoy being actively involved in the business, as it continues to grow.”

Major project launched to shape the future of Hull city centre
Commercial Property 2026-01-05 09:27:52

Major project launched to shape the future of Hull city centre

Hull City Council has launched a major project which is set to guide investment and regeneration in the city over the next 20 years. The local authority is seeking views on the Hull City Centre Vision – a development aimed at creating a more family-friendly, sustainable and prosperous city centre of the future, for residents, visitors and businesses. The project, led by urban design specialists, will focus on key areas as it builds up a blueprint for the city, including identifying key development plots in the city centre, enhancing outdoor public spaces and improving accessibly across the city centre. The authority says the vision will raise the profile of Hull to help drive more inward investment and development, and grow the local economy, creating more jobs and supporting new and existing businesses. Work will also be carried out to boost the number of homes in and around the city centre to create a more vibrant destination. A six-week consultation process has been launched, running until March 16, calling upon people to make their views on the vision known. The project will help inform Hull’s Local Plan which is set to be updated later this year, and the council said it will closely align with the council’s long-term strategies for around carbon emissions, public realm, housing, economic development and health and wellbeing. Coun Paul Drake-Davis, portfolio holder for regeneration and housing at the council, said: “Our council is one that listens to local people, cares about their views and then takes action. We’re excited by this new project as we look to create a city centre that reflects the long-term needs and aspirations of our residents and businesses. “Once finalised, this vision will help set us on a path towards a city centre that not only supports economic growth but is also a place our communities can feel proud of. We want our city centre to be a better place for people to live, work and thrive and we’re looking forward to listening to people’s views.” Andy Roberts, director at Planit, added: “We are proud to be leading this hugely important work for the city of Hull. Our vision aims to create a city centre that offers safe and welcoming neighbourhoods, supports a healthier and fairer Hull, drives economic growth, and responds effectively to the climate emergency.

Electroplating firm invests £2.3m into Black Country plant
Commercial Property 2025-12-13 10:16:34

Electroplating firm invests £2.3m into Black Country plant

Electroplating and coatings firm Anochrome has increased capacity by investing £2.3 million into its Walsall site. The company has spent £1.3 million on a new state-of-the-art plant and more than £600,000 to modernise a large bay. UK divisional director Steve Norman said the new plant would boost production capacity by at least five per cent while the new-look bay would reduce energy costs and provide working conditions for employees. Meanwhile, the front façade of the building has also been completely revamped, along with the reception area. 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. Anochrome is one of the largest electroplating and coatings specialists in the UK, processing tens of millions of components every week and dealing predominantly with automotive suppliers. Mr Norman said: "This investment will bring significant benefits to both our customers and our people. "It's an important moment for the business which demonstrates our commitment to continued growth while being environmentally responsible. "The revamped bay was where we kept all our scrap and redundant equipment. That area has been completely overhauled and is now an energy-friendly, modern unit fit for the future. "It will help us service all our manufacturers' technical specifications, while minimising our environmental footprint. It's an exciting time to be part of Anochrome as we push forward and target strategic growth."

Accountancy giant takes space at landmark Bristol office development
Commercial Property 2025-12-28 19:19:51

Accountancy giant takes space at landmark Bristol office development

A landmark Bristol city centre office development has secured a UK professional services firm as its latest tenant. Forvis Mazars is taking 7,800 sq ft of Grade A space on the eighth floor of Assembly Building C. The company joins a community of businesses at the mixed-use scheme including law firm Clarke Willmott and Norwegian wireless fabless manufacturer Nordic Semiconductor, which are within the same building. Other businesses in the development include real estate firm Knight Frank in Building B and BT, which has its South West hub - employing some 2,500 staff - in Building A. The Assembly scheme comprises three office blocks overlooking Bristol’s historic harbour. The project is part of the growing Bristol Temple Quarter Enterprise Zone next to Temple Meads railway station. The public realm surrounding the development is now complete, including a public art trail by acclaimed artist Alex Chinneck. The scheme has also enabled the re-opening of a historic walkway through the site, reconnecting Temple Meads to the city centre for the first time in 50 years. Assembly Bristol is represented by Savills and JLL as letting agents. Forvis Mazars was represented by Cushman & Wakefield. “Assembly Bristol is setting the standard for a mixed-use regeneration scheme, offering flexible and smart workspace across three buildings, as well as cafés and public space,” said Chris Meredith, director at Savills. “Incorporating the latest methods of construction and design, the buildings combine exceptional quality with excellent efficiency and impressive sustainability. It has been thoughtfully designed to deliver a thriving workplace with a focus on staff wellbeing, productivity and health."

Somerset filter manufacturer expands HQ amid growing demand
Commercial Property 2026-01-05 20:17:09

Somerset filter manufacturer expands HQ amid growing demand

A Somerset-based air filter manufacturer is extending its headquarters in Bridgwater to help cover growing demand for its products globally. Family-owned Jasun Envirocare is spending £300,000 to add to its Riverside House premises as part of its ongoing growth plans, it said. The company employs more than 200 people at its UK operational sites in the town and in Waterlooville, in Hampshire, and also has factories and offices in Europe. Jasun Envirocare’s chair, Graham Bentley, said: “We’ve seen demand for our products grow dramatically from Europe in the last few years, particularly since setting up operations in France in 2014 and Spain in 2018. "Our new building at Riverside will help us meet international requests for our products, speed up the process and allow us to sell more too." Mr Bentley said the firm's two subsidiary companies in Europe had helped the business "significantly" increase its export work, despite issues related to Brexit. "At Riverside we’re building a 2,300 square feet extension purely for export despatch. It is being managed by our main contractor, Salter Civils and Groundworks and we’re hoping it will be completed and operational in the spring," he added. “This extension and financial investment symbolises our commitment to our international market and to Bridgwater, as this represents a boost to the local economy.” Jasun Envirocare provides a complete range of standard and bespoke, filters and systems, including air purifiers, air filters, panel filters, washables, kitchen canopy grease filters, and HEPA filters.

Major Gloucester employer moves staff into £107m Forum development
Commercial Property 2025-12-29 11:06:37

Major Gloucester employer moves staff into £107m Forum development

A major Gloucester employer has moved 250 staff into the new £107m Forum development in the city centre. Technology firm Fasthosts Internet has taken 19,000 sq ft across four floors at No 2. Cathedral Walk, bringing all its employees under one roof. The Forum is part of wider plans to regenerate the centre of Gloucester and attract high-tech firms including cyber businesses to the city, officials have said. The mixed-use development is being brought forward by Gloucester City Council in partnership with developers Reef Group. It will provide premium office and retail space, restaurants, a Hotel Indigo (IHG Hotels) and a rooftop bar. The 398-space car park, operated by Q-Park, will include 39 spaces with electric vehicle charging points. Rupert Bedell, chief executive of Fasthosts, said: “Having our whole team under one roof is fantastic for the company. Our collaborative break-out spaces have already allowed for new ideas and new initiatives to be developed. "Since we’ve moved in, we’ve seen a complete change in how our employees feel, it’s the perfect space for them with plenty of natural light, different areas to work and spaces to relax too. “As one of the biggest employers, we’re looking forward to playing our part in the city’s regeneration and we are looking forward to working with Gloucester City Council, our MP, and other businesses in Gloucester.” Councillor Jeremy Hilton, leader of Gloucester City Council, said: “The Forum is becoming a hub for innovation, and with Fasthosts’ presence, the city is well-positioned to attract further investment and create a dynamic environment for future growth. Congratulations to Fasthosts in this exciting new chapter for Gloucester." Pete Langly-Smith, managing director at Reef Group, said "a number" of other potential tenants are in talks to move into the building. He added: "2025 is an exciting year for The Forum, with Hotel Indigo and its rooftop bar opening in the summer as the final phase of the scheme.”

Record resi projects in Birmingham but new construction starts to fall
Commercial Property 2025-12-12 04:28:12

Record resi projects in Birmingham but new construction starts to fall

Residential accommodation continues to be the driving force behind Birmingham's property development market. The annual Crane Survey, published today, says the sector dominates the work taking place across the city centre despite a year-on-year fall in the number of construction projects starting on site. The 23rd Birmingham Crane Survey, which is published by financial services firm Deloitte, monitors construction activity across a range of sectors including office, residential, hotels and retail. Similar surveys are also published annually for Belfast, Leeds and Manchester and to qualify for inclusion projects must meet minimum size thresholds such as at least 25,000 sq ft for offices and more than 25 units for residential. The research said the number of new projects breaking ground in Birmingham dropped from 20 in 2023 to 11 last year, comprising six residential schemes, two each for offices and student flats and one infrastructure. 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 dominance of residential was mirrored in completed projects during 2024, with a record 3,180 homes across 17 schemes coming to the market - a huge rise on the 1,908 the year before. This included 504 build-to-rent units across 19 storeys at The Bath House, in Bromsgrove Street, and The Square, in Broad Street, which contains 440 units over 36 storeys, also for rent only. In the office sector, 310,424 sq ft of floorspace was finished during 2024 and a further 814,574 sq ft of office space is currently under development. Among those office projects to start last year were a revamp and extension of 35 Newhall Street and the regeneration of Typhoo Wharf in Digbeth to become The Tea Factory which will provide a new home for the BBC. In student housing, just 208 bed spaces were completed last year however this is dwarfed by the 2,242 currently under construction which is the highest amount recorded in the history of the Birmingham Crane Survey. Infrastructure was added as a new sector for the research in 2024 as work started on HS2's Curzon Street station. There were no hotel projects started, under construction nor completed in Birmingham during last year. Overall, the number of completed projects was 24 and there are 36 schemes currently under construction, a drop from 44 in 2023. Zoe Davidson, a partner in infrastructure and real estate at Deloitte Midlands, said: "Across all the crane surveys this year, it is evident there has been a slowdown in developer activity but Birmingham continues to set new records despite a challenging economy. "Rising inflation, labour and construction costs and global economic conditions have all impacted developer activity with many schemes with planning permission yet to break ground. "The retail, healthcare, education and hotel sectors reflect a slowing of activity, with no new schemes starting on site but the planning pipeline is strong across all sectors." Looking further ahead, Birmingham has a healthy pipeline of projects tabled for work to start, according to Deloitte's report. These include around six million sq ft of offices, two million sq ft of education and innovation floorspace, 2,500 hotel rooms and 11,700 student bedrooms. Among some of the headline projects are Birmingham City's masterplan for the former Wheels go karting track in Bordesley Green and the long-running work at Edgbaston cricket stadium which includes a new stand and hotel. For the first time since the inaugural Birmingham Crane Survey in 2002, the geographical definition of the city centre has been expanded to mirror that in the council's 'Our Future City Plan'. This is defined as fives keys areas - heart (Colmore district and city core), North (Eastside, Aston Triangle, Gun Quarter), east (Bordesley, Digbeth, Small Heath), south (Balsall Heath, Edgbaston, Highgate) and west (Hockley, Jewellery Quarter, Ladywood). Ms Davidson added: "The decision to expand the boundary of this year's survey is indicative of Birmingham's ambitious plans and mirrors the city's ambition for future growth. "Residential remains strong but, looking forward, the pipeline across all sectors is positive. "Although funding construction is becoming increasingly difficult, HS2 and the start of Curzon Street station is driving developer and investor confidence in the region.

Hadrian Healthcare reveals plans for £15m luxury care home in Northumberland
Commercial Property 2025-12-19 15:53:55

Hadrian Healthcare reveals plans for £15m luxury care home in Northumberland

A Tyneside luxury care home operator has announced plans to create a £15m property in Northumberland. Gateshead-based Hadrian Healthcare has been designing and developing care homes for "the discerning elderly resident" for around 20 years, with its properties attracting industry attention for offering services and features usually found in five-star hotels. Four years ago the business struck a record-breaking deal after striking a deal to sell two homes, in Leeds and Skipton, for £50m before they were even built -a transaction which followed a £100m-plus deal for five homes. As well as offering high quality care level, the company's homes come with features including hair and beauty salons, in-house chefs and chauffeurs, bistro cafes, restaurants, hydrotherapy pools and cinemas. Now the business - which currently owns and operates Manor House care homes in Gosforth and Whickham - is expanding into Northumberland, after making a significant land investment. The firm has revealed proposals to build a care home in Hexham, with features including private dining, a garden cafe bar and client concierge services. The next stage in its plans will see it draw up designs for the home ahead of submitting a planning application soon. Hadrian Healthcare’s founder and chairman, Ian Watson said: “We are currently progressing our development plans with a view to submitting a comprehensive planning application within the next three months. The site on Allendale Road, Hexham, is perfect for our proposal to create a new residential ‘Manor House’ providing a unique level of luxury accommodation and care for the elderly population of Hexham and the surrounding areas. “We have for some time been acutely aware of the lack of such high-quality accommodation and care in and around Hexham and we are extremely excited that we have secured what we consider to be the ideal site for such a development. The plan is to design our building along the lines of a traditional country Manor House within stunning landscaped gardens, which will be particularly appealing to discerning elderly clients. In addition to large individual client suites, with private bathroom and shower facilities, amenities will include a garden café/bar, private dining, and client concierge services. “We hope to secure full planning permission for our development to enable us to commence construction works before the end of this year. Our proposals, which will entail a capital investment of around £15m, underlines our commitment to remaining one of the UK’s premier providers of luxury elderly accommodation and care.” The deal comes after Mr Watson set a new benchmark in care home transactions in July 2019, when he sold five homes across County Durham and Yorkshire for more than £100m to a fund managed by insurance giant Aviva.

Green light for new hotel at Edgbaston stadium
Commercial Property 2025-12-13 16:26:25

Green light for new hotel at Edgbaston stadium

Edgbaston cricket stadium has been handed the green light for the next phase of its redevelopment. Birmingham City Council's planning committee today approved the £42 million scheme which will include a new hotel and be completed in time for the men's Ashes test against Australia in 2027. The 146-bedroom Radisson Red hotel will include a rooftop terrace, pitch-view rooms with balconies and other rooms that can be converted into hospitality boxes with external terraces to watch the match action. It is estimated that around 60,000 people will stay at the site each year. 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. A stand will also be redeveloped to give it a higher capacity than the existing Raglan and Priory stands and it will have a new concourse with enhanced food and drink options and improved facilities for disabled spectators. Strategy director Craig Flindall said: "We're grateful to Birmingham City Council for approving the plans and for sharing our vision to bring increased economic and social benefits to the region through international sport. "Cricket will always stay at the heart of our thinking but it's important we develop a stadium that operates all year round, supporting new jobs in this part of the city and creating wider community opportunities. "We are creating a mixed-use destination that will combine elite sport, conferencing and events and residential and hotel accommodation with community facilities that will improve education, employment and social cohesion in the area." It is estimated that Edgbaston stadium currently contributes approximately £35 million to the local economy every year and projections for the new hotel development suggest that could increase to more than £40 million. It's expected the project will create more than 376 jobs during the construction period and another 100 post-completion, adding to the 1,000 jobs the stadium already supports locally. West Midlands Combined Authority has supported the project with a loan of up to £18 million. Mayor Richard Parker said: "Edgbaston is a world-class venue and this redevelopment, backed by our investment, will ensure it continues to attract top-tier international cricket, thousands of visitors every year, and even more jobs for local people. "Our region is home to a number of globally celebrated sports teams and venues. "By supporting them to grow, we shore up our place on the international stage, bringing visitors, investment and jobs now and into the future. It's what I want to see for the West Midlands - growth that ensures everyone can benefit." Adela Cristea, UK vice-president of business development with Radisson Hotel Group, added: "Radisson Red is the perfect fit for this world-renowned stadium and we're so excited to bring this project to life. "We look forward to working closely with the Edgbaston team on the design and details of the hotel." Previous phases of the work at the stadium include a new stand, media suite, a new apartment complex and the launch of a hospitality centre of excellence offering apprenticeships, career development and skills training.

Go-ahead for new public square in the centre of Cardiff
Commercial Property 2026-01-06 12:46:43

Go-ahead for new public square in the centre of Cardiff

The site of the former Debenhams store in Cardiff city centre will be home to a new public square. Cardiff Council has approved plans for the square, which will include a splash pad and space for outdoor performances, markets, local street food vendors and other events. Demolition of the former Debenhams store, which was a cornerstone of Cardiff city centre's shopping area for decades, is currently under way. However, the St David's shopping centre scheme proposes to retain a part of the former store for leisure use. The project, which involves £17m of investment from Landsec, will also see two new cafe and restaurant buildings constructed on site. The new square will also be landscaped with trees and a mix of native plants. St David's Cardiff said the new public square was expected to be open by 2026. The former Debenhams store in Cardiff city centre, built in 1981, formed a part of Cardiff's shopping scene for 39 years before the department store chain went into administration. It remained empty for several years before Land Securities Group, also known as Landsec, submitted plans to demolish part of the site and replace it with a public square in August, 2024. Centre director of St David's Cardiff, Helen Morgan, said: "Receiving approval is a huge milestone in this landmark development, and we're delighted that Cardiff City Council and the community have recognised the positive impact that this space will have on the city. "A new city square will be revolutionary for this part of Cardiff, giving locals and visitors even more reason to spend time at St David's and in the city centre." A number of other additions are expected at St David's shopping centre this year.

'Serious about business': Leader says construction company's move to Oldham is 'massive boost' that will create jobs
Commercial Property 2025-12-10 09:22:47

'Serious about business': Leader says construction company's move to Oldham is 'massive boost' that will create jobs

Mansell Building Solutions is set to deliver a 'massive boost and jobs and opportunities' to Oldham with its relocation to Broadway Business Park in Chadderton. The construction giant has signed a 10-year lease for a warehouse within the business complex, which was developed with Oldham Council. Mansell's move comes after it outgrew its previous base in Horwich, Bolton. Oldham Council leader Arooj Shah views the arrival of the firm as a chance to show the borough is 'serious about business', expressing optimism that it will create employment for locals. Councillor Shah said: "This news is a massive boost for the local economy and we're thrilled Mansell Building Solutions is coming to the borough. Mansell Building Solutions is a real success story and a growing firm. This is amazing for Oldham because a thriving company means jobs and opportunities for Oldham people. "Firms like Mansell Building Solutions are increasingly seeing the borough as a place to invest and as somewhere that is serious and proactive about business. We looking forward to working closely with them in the coming years." The council leader also commended the company for its 'women-led' status, drawing a parallel between its pioneering nature and that of Annie Kenney, the celebrated suffragette hailing from Oldham , reports the Manchester Evening News. Angela Mansell, a managing director, said: "We feel a certain synergy with Oldham as it's a forward-thinking borough under female leadership. We're only too pleased to make it our new home." The firm is currently working on projects across various Greater Manchester locations, including Trafford, Wigan, Salford, Stockport, and Manchester. The new facility will boast dedicated spaces for employee training and development, including apprenticeships.

Newcastle hotel group sells luxury Cheshire hotel in multimillion-pound deal
Commercial Property 2025-12-20 17:20:12

Newcastle hotel group sells luxury Cheshire hotel in multimillion-pound deal

A Newcastle hospitality group is seeking new opportunities for growth after selling one of its venues to new owners in a multimillion-pound deal. Mere Court Hotel in Knutsford, Cheshire, has been sold to an unnamed North West hotelier for an undisclosed amount by Newcastle based Ailantus. The four-star country house hotel is set across seven acres of grounds, with 34 rooms and an AA Rosette restaurant. The deal to sell the luxury venue was overseen by Newcastle-based Mincoffs Solicitors. The law firm has been advising Gosforth-based Ailantus group for more than 25 years, with the firm's other venues including the George Washington Hotel in Washington, the Holiday Inn at Gosforth Park and the Quality Hotel in Boldon, South Tyneside, as well as other hotels across the North of England. Mincoffs’ corporate partner John Nicholson worked with Ailantus director, Neel Chawla, to deliver the transaction. Mr Chawla said: “The corporate team, spearheaded by John Nicholson, have once again transacted diligently and efficiently in our group’s first hotel asset disposal. We look forward to working with Mincoffs on future transactions.” John Nicholson said: “Ailantus are a longstanding client of the firm and Mincoffs has advised Neel and the team on their portfolio for a number of years. It was our pleasure to act on the sale of this venue, as part of the group’s ongoing restructure.

New JV formed to lead Birmingham resi scheme
Commercial Property 2026-01-07 02:45:33

New JV formed to lead Birmingham resi scheme

A new £60 million joint venture has been formed to develop more than 200 apartments in Birmingham. Manchester-based developer Cole Waterhouse has teamed up with the UK arm of US firm Taurus Investment, investor Housing Growth Partnership and real estate lender BGO for the scheme in Digbeth. The project represents the first phase of Cole Waterhouse's Upper Trinity Street scheme and will comprise 211 units to rent across three buildings. Caddick has been appointed as main contractor and work is expected to complete in spring 2027. 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 overall £260 million project, whose masterplan was approved in 2021, has been designed by architecture practice Corstorphine & Wright. It will have around 940 new homes, a 133-bedroom hotel, 60,000 sq ft of commercial space and a skypark set across the 5.2-acre site. The development will also relocate the Pat Benson Boxing Academy to a new home and have a brand new Museum of Youth Culture and the Birmingham Music Archive. It will also include the creation of Pump House Park which will sit alongside the canal and the historic lockkeeper's cottage which will be retained. The development is expected to create 600 jobs during the construction phase and up to 313 additional roles once built. Cole Waterhouse's chief executive Damian Flood said: "Entering into a contract with Caddick enables us to undertake this exciting project with Taurus, Housing Growth Partnership and BGO. "This is our first joint venture with the professional team at Housing Growth Partnership and we are all excited to bring forward the first phase of Upper Trinity Street which will be one of the catalysts for the further regeneration of Digbeth, demonstrating our confidence in delivering much needed housing in this key part of the city."

Multimillion-pound Newcastle business hub launches to help regional firms thrive
Commercial Property 2025-12-11 17:07:03

Multimillion-pound Newcastle business hub launches to help regional firms thrive

A multimillion-pound business hub has officially opened its doors close to Newcastle Airport to help propel regional companies onto the global stage. The 10,200 sq ft International Space Station (ISS) Airview has become the newest addition to AirView Park. The business park offers commercial office space to firms looking to get a foothold in the North East as well as space for start-ups and growing firms, with unrivalled transport connectivity to the rest of the UK and beyond. ISS Airview – which joins original anchor tenant Bellway plc, architects Sadler Brown and wellbeing solution provider ART Health Solutions – is the brainchild of regional business figure Ammar Mirza, and has opened with aims to help regional SMEs scale-up and take advantage of global trade and export opportunities in key markets, including South Asia, Turkey, the Middle East prioritising Saudi Arabia and the Netherlands. The ISS offers businesses flexible workspaces, including co-working space, office suites and conference facilities, and can accommodate over 150 desk spaces. Mr Mirza said: “It’s incredibly exciting to see our plan for the UK’s first dedicated International Trade Hub come to life, in partnership with strategic allies. Providing a physical platform that’s underpinned by the three key enablers of growth - innovation, investment, and internationalisation. “ISS Airview will offer a launch pad to help scaleups grow globally, and a soft landing for inward investment, ultimately showcasing the significant strengths and assets from across our North East. For over 15 years, we have meaningfully cultivated relationships at both Government and on the ground in various countries ready for our launch.” Mike Clark, director of developers Tynexe Commercial Limited, said: “ISS Airview is a prime example of how strategic investment, backed by regional devolution, is driving economic growth and creating new opportunities for businesses in the North East. Under the North East Mayoral Combined Authority, we have a renewed focus on enhancing infrastructure, attracting investment, and supporting businesses to expand into global markets. “Developments like this reinforce our region’s position as a dynamic hub for innovation and enterprise, strengthening our economy and creating high quality jobs for the future.” Mark Hunt, chief financial officer at Newcastle Airport, said: “The opening of ISS Airview marks a significant milestone for the North East’s business community. This state-of-the-art facility will provide local businesses with the resources and connections needed to engage with global markets, helping to attract more investment, drive innovation and create new jobs throughout the region.”

New car park for nearly 700 vehicles in Cardiff Bay
Commercial Property 2025-12-17 12:13:25

New car park for nearly 700 vehicles in Cardiff Bay

Work on a new multi-storey car park for the Mermaid Quay mixed-use scheme in Cardiff Bay will start next month. Owners of the 150,000 sq ft waterfront development, that includes restaurants and retail outlets, are demolishing the existing car park and building a new facility in a multi-million-pound investment. The car park, which is scheduled to open in April next year, will have 680 spaces - nearly double the existing facility that has 380. As with the present facility the new car park will be operated by Mermaid Quay, which is owned by Schroders Capital UK Real Estate. The exact cost of the new car park is not being disclosed. The existing car park will stop operating on March 2nd with demolition beginning shortly after. Following a three month demolition phase, construction will take around nine months. It will have two additional floors than currently - adding over 300 new spaces. Improvements will also include more accessible spaces on the ground floor, increased parent and child spaces, as well as new electric vehicle charging points. It will also creation of a new layout and exits to help improve traffic flow. It will also include a cycle hub. To minimise the impact of the temporary closure, the management team will be working with neighbouring car parks to help guide staff and shoppers to alternative parking options. The investment improving the Mermaid Quay car park follows the recent public realm refurbishment works which have taken place across Cardiff Bay to enhance the visitor experience. Mark Nott, centre manager at Mermaid Quay said: “During the temporary closure of the Mermaid Quay car park we urge visitors to Mermaid Quay and wider Cardiff Bay attractions to check out alternative parking options before they travel. Our team will also be on hand to provide advice to those working and visiting the area on alternative ways to travel to the bay to help minimise disruption and ensure you continue to have an enjoyable experience whilst visiting Mermaid Quay.

Two major North East industrial schemes leap forward amid lettings and planning approvals
Commercial Property 2025-12-21 13:54:21

Two major North East industrial schemes leap forward amid lettings and planning approvals

Two major industrial schemes in the North East have taken leaps forward on the back of significant lettings and planning approvals. On Wearside, proposals to create new industrial space in Sunderland to support the region’s advanced manufacturing park have been given the go-ahead. Town End Farm Partnership Ltd last year put forward plans to create new space north of the Nissan plant to form part of the International Advanced Manufacturing Park (IAMP) through three units providing more than 860,000sqft of space. Work on the scheme, which was submitted on behalf of the Durham business by planning and development specialist Hedley Planning, can now get under way after planning approval was granted by Sunderland City Council. Onsite construction work is expected to start later this year. Three industrial units will be built on the southern development section of the site, set on a 150-hectare site to the north of Nissan and east of the A1290, providing 17,220 sqm, 14,600 sqm and 49,190 sqm of modern warehouse-style space with ground floor office accommodation, vehicle and HGV parking facilities along with associated yard space. Hedley Planning’s associate director Alex Franklin, who oversaw the planning application for Town End Farm Partnership Ltd, said: “There’s no doubt that IAMP is a real game-changer for the North East and its modern industries, driving investment, supporting jobs and creating long term prosperity. “This latest planning approval will see the go-ahead for another important phase in the park’s development – new units in IAMP and other locations, which benefit from investment in good planning, design and modern construction materials, are well sought after and in high demand.” Peter Razaq, managing director at Town End Farm Partnership Ltd, added: “This is a terrific scheme that will now proceed, meeting the strong demand for high quality industrial units in important North East locations and supporting the economic growth of local businesses.” Meanwhile in County Durham, listed business management business Restore Plc has signed a 15-year full lease for space at Integra 61. The company has signed up for Connect 84 - part of the Connect development at the industrial park - to become home to its new storage centre, at an 84,175 sqft unit which property agents described as the largest speculative new build project in the North East in the last two decades. Nigel Dews, managing director, Restore Information Management, said: “We are excited to have Connect 84 as our new storage centre. This fits nicely with our wider property strategy to continue to provide state-of-the-art storage facilities for our customers which also help with reaching our sustainability targets.” The deal was brokered by Avison Young, together with joint letting agents CBRE and Naylors Gavin Black, on behalf of site developers Sunrise Real Estate.

Cardiff scheme for more than 300 apartments
Commercial Property 2025-12-24 12:07:36

Cardiff scheme for more than 300 apartments

Plans to develop a new block of flats in Cardiff Bay are about to take another step forward. Cardiff Council’s planning committee granted outline planning permission in 2022 for the redevelopment and extension of the Channel View estate in Grangetown for up to 319 apartments and houses. The council has decided the demolition of three properties on Channel View Road can go ahead in order to pave the way for construction of phase one of the development. A council document published recently states the demolition of 227-231 Channel View Road is expected to commence in April. In June 2024, Cardiff council approved plans to amend the design of an apartment block in phase one so that it could meet fire regulations. The first phase of the scheme will be made up of two blocks providing independent living flats for people aged over 50. It will also include a community cafe and communal gardens incorporating allotments and picnic areas. Approval of the amended plans means block B will be six storeys high instead of eight and its make up will change so it will no longer include what it called ‘green walls’. These consist of plants and aimed to improve energy efficiency, promote biodiversity and improve air quality, among other things. A council planning report on the application which was approved last year states: “The application is seeking to make these amendments due to new emerging guidance on building regulations being released, specifically referring to tall buildings post the Grenfell Tower disaster. “The approved designs will not meet these new regulations, so a redesign exercise has been carried out. The green walls have been omitted as they cannot achieve fire regulation compliance.” Although the changes mean block B will be shorter and reoriented, the number of units being provided will remain at 24. The council document published this month on proposals to demolish buildings on Channel View Road states an amendment to the design of block A of phase one was also approved last year. This will involve increasing the number of apartments from 57 to 102. Cardiff Council’s wider plans to redevelop Channel View will eventually see 180 existing properties on the estate replaced.

Cornwall hotel put up for sale for first time in 43 years
Commercial Property 2025-12-11 08:37:03

Cornwall hotel put up for sale for first time in 43 years

A hotel near Penzance is being put up for sale for £1.5m after more than 43 years. The Marazion, a Grade II listed property based in the coastal town of the same name, has been owned and operated by the same family since 1982. The hotel has 11 en-suite bedrooms, a two-bedroom self-catering apartment, a restaurant and bar - The Cutty Sark - which seats up to 55 people, and a guest lounge. It also has a beer garden and car park. The business has undergone a number of renovations over the last few years, including to the bedrooms, bathrooms and public areas, according to property firm Christie & Co, which is marketing the building for sale. It also has an AA 4 Star Gold Inn rating and an AA Dinner Award, and was selected as a finalist for the Taste of the West Hotel of the Year Award in 2024. Stephen Champion, director in Christie & Co’s hotel brokerage team who is managing the sale, said: “With its well-maintained property and highly profitable business, the Marazion Hotel is perfectly positioned to be handed over to a new operator. "The business could appeal to experienced operators and newer entrants alike, so we expect strong interest.” The Marazion was originally a coaching inn and was built around 1700. According to its website, the hotel has a number of items from HMS Warspite - one of five Queen Elizabeth-class battleships built for the Royal Navy during the early 1910s and which ran aground at Mount’s Bay in 1947. These include panelling from the captain’s cabin and the tip of the mast.

Welsh tourism tax will not exempt children
Commercial Property 2026-01-08 02:58:18

Welsh tourism tax will not exempt children

Mark Drakeford has resisted calls to exclude under-18s from the Welsh Government’s plans for a tourism tax from 2027. The Finance Secretary told the Senedd’s finance committee that exempting children from the levy as in some other European countries would lead to a “significant fall” in the tax take. He said: “I see that you have heard from a range of voices who argue that particular groups ought to be excluded from the levy…. This is a broad-based tax with a low charge – if you narrow the base, the only way you can sustain the take from the tax is to put the charge up.” Prof Drakeford said taking under-16s out of the £1.25-a-night levy would see the estimated £33m revenue fall to £21m, “eroding the chances that the levy will be of any use.” He stressed: “If the committee wants to argue for excluding children from the levy, you are arguing for a higher charge on the people who are left – you can’t have both.” Prof Drakeford pointed out: “Children buying sweets pay VAT. Children are not excluded by the virtue of being children from the taxation system.” He defended the visitor levy bill after a report found the levy could lead to between 250 and 730 job losses and cost the Welsh economy £16m to £47m a year. Prof Drakeford was questioned about the economic impact assessment by Calvin Jones, a professor at Cardiff University, as he gave evidence on February 12. He said: “Professor Jones’ report deals with a set of complex considerations. It has, inevitably, to make a series of assumptions and deal with a series of uncertainties. It assumes, for example, that all 22 local authorities have adopted the levy from day one.” Rejecting suggestions the report undermines the case for a levy, Prof Drakeford told the committee some witnesses exclusively referred to figures for a worst-case scenario. He said: “I did think there were some witnesses who came before you who presented Prof Jones’ report as though it was a set of predictions rather than a range of possibilities.” Prof Drakeford added: “Even if the impact was at the top end, you are talking about a few hundred jobs in an industry that employs over a million people…. This is not an industry, I think, that will struggle to accommodate the impact of the levy.” Pressed about the timing with the sector still recovering from the pandemic, he said: “When some organisations have said to you ‘oh, not now’, what they really mean is ‘not ever’.” Prof Drakeford stressed “There’s a long lead in, this is not an idea that has suddenly been put in front of the sector and there’s a long path in front of us as well.” He said the earliest any council could introduce a local levy would be April 2027, adding that he expects only a modest number of local authorities to do so initially. Peredur Owen Griffiths, who chairs the committee, raised the “cumulative” effect of policies such as national insurance and the 182-day rule for holiday lets to qualify for business rates. Prof Drakeford replied: “We’re familiar with the argument about comparing apples and pears but that list, I think, is the full fruit salad because they’re all completely different issues.” He told the committee many microbusinesses in the tourism sector will be no worse off after the UK Government’s decision to increase employer national insurance contributions. Asked about introducing a day-visitor levy rather than an overnight tax, the former first minister said: “I didn’t want to see the search for the perfect driving out the possible.” Prof Drakeford rejected suggestions that families could upend their holiday plans over the proposed £1.25-a-night levy, arguing it will have a marginal impact. He said: “There are so many other factors that will have an impact both on costs and people’s decision-making which will loom far larger than the visitor levy. “On the whole, what we hear from the continent where this is commonplace is that visitor levies are broadly invisible to the end user.” Prof Drakeford explained the bill would require councils to consult on whether to adopt a levy then report annually on the use of the revenue raised. He told committee members: “The idea that you could easily slide a bit of that money away towards something else, I don’t think will be easy.”

Flexible workspace provider Runway East agrees 15-year Bristol deal
Commercial Property 2025-12-21 02:11:55

Flexible workspace provider Runway East agrees 15-year Bristol deal

Flexible workspace provider Runway East has agreed a 15-year renewal deal on its building in Bristol. The company signed the agreement with landlord Grosvenor for 47,000 sq ft at 1 Victoria Street. Under the terms of the agreement, the businesses said they would work together to undertake "environmental and amenity upgrades" at the Bristol Bridge site. The environmental improvements are part of a wider £35m programme of capital investments Grosvenor is undertaking across its regional office portfolio, it said. The Bristol Bridge space has already been renovated and offers co-working and private offices for teams sized between one and 75 people. There are also break-out areas, meeting rooms and a private roof terrace and a riverside café and bar. Natasha Guerra, founder and chief executive of Runway East, said: Our mission compliments Grosvenor’s vision on reducing emissions. As one of the first B-Corp flexible operators, we’re committed to creating the best place to work and being a responsible business committed to meeting net zero. "Bristol Bridge is one of our longest-standing sites, which is hugely popular with members. We’re thrilled to be offering them longevity, supporting business as usual and maximising team bliss.” The announcement comes just weeks after Runway East signed a 20-year deal with global investment firm Abrdn to open a new site in Bath. Kings Court, a Grade II listed building on Parsonage Lane in the city centre, is the flexible workspace company’s third site in the South West. Fergus Evans, office portfolio director at Grosvenor, said: “There is a shortage of the best quality commercial space across the UK core cities. By extensively refurbishing our existing portfolio to create the best retrofit assets in the cities we operate in, we’re addressing this demand whilst simultaneously minimising our operational and embodied carbon impact. “As one of the best flex office providers in the market, confirming Runway East’s recommitment to Bristol Bridge, marks a fantastic start to the year. As we do across the portfolio, we have been working proactively with Runway East to improve the environmental performance and amenity provision of the building."

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