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Skegness gets £23 million rail boost to revive tourism and local economy

A £23 million investment is being directed into modernising train services and infrastructure in Skegness, as part of a targeted strategy to rejuvenate tourism and improve the town’s commercial prospects.

The funding package includes £3.3 million for the refurbishment of Skegness railway station, which is scheduled for completion by 25 May. The remaining investment focuses on service upgrades along the Nottingham–Skegness line, led by East Midlands Railway (EMR).

EMR has begun rolling out refurbished Class 170 trains, featuring updated interiors, new seating, power and charging points, and bike storage. These upgrades are part of a broader £60 million commitment to fleet modernisation, intending to improve passenger experience and attract more visitors to the region.

Skegness, once a thriving seaside destination, has suffered from long-term decline in tourism and negative public perception. Recent rankings placed it among the lowest-rated UK coastal towns, highlighting the need for economic and infrastructure improvements.

£200m Middlesbrough scheme to target investors at UKREiiF

A £200 million mixed-use development in Middlesbrough will be presented to investors and stakeholders at UKREiiF 2025 in Leeds. The project includes a hotel, 240 build-to-rent homes, and student accommodation for over 400 residents.

Located in Gresham, the scheme is part of a wider regeneration strategy led by iMpeC and Buccleuch Property, working with the Tees Valley Combined Authority and Middlesbrough Development Corporation. The development was approved earlier this month.

The team behind the project will use the UKREiiF event, taking place from 20 to 22 May, to attract interest from developers, institutional investors, and regional growth partners.

JMG Group adds scale with three more brokerage acquisitions

JMG Group has made three more acquisitions in the UK as part of its push to grow regional market share and add specialist capabilities to its portfolio.

GS Group, part of JMG, picked up W K Insurance, a commercial broker in Scotland with a 40-year track record. Seven employees moved over as part of the deal. Leadership has been passed on internally to support business continuity.

Greenwood Moreland acquired UKI Direct, a York-based broker focused on SMEs. The deal adds £2.5 million in premium and expands Greenwood’s footprint to seven locations with over £58 million in GWP. Key staff are staying on to lead the transition.

Lighthouse Risk Services bought TSE Solutions, a Leeds firm offering tailored risk and safety consultancy. The acquisition builds on an existing working relationship and boosts Lighthouse’s presence in the health and safety space.

These moves follow a year of aggressive dealmaking by JMG, which placed more than £350 million in GWP in 2024. The group is in talks for further deals as it continues to buy and build across the UK insurance market.

Leeds United stadium expansion clears key hurdle as council backs land sale

Plans to expand Leeds United’s Elland Road stadium have taken a significant step forward following approval from Leeds City Council to sell land required for the development.

The football club, which recently secured promotion to the Premier League, is aiming to boost the stadium’s capacity to around 56,500 seats. This would place Elland Road among the largest football grounds in the UK, aligning with the club’s commercial ambitions and expected increase in matchday demand.

The council has agreed to sell approximately 30 acres of land in the south of the city to the club’s owners. The move forms part of a broader regeneration initiative targeting that area of Leeds, with the stadium upgrade positioned as a key anchor project into the wider development strategy.

A formal agreement will be established between the council and the Lowy Family Group, the club’s development partner. Construction could begin within the next year, subject to planning approval and the outcome of a forthcoming public consultation.

Leeds office market sees strong Q1 as businesses commit to premium space

Leeds’ office market opened 2025 with solid momentum, showing sustained demand and upward rental pressure in both city centre and out-of-town locations, according to figures from the Leeds Office Agents Forum (LOAF).

A total of 241,282 sq ft of office space was taken up in the city centre between January and March, closely matching the 249,703 sq ft recorded during the same period last year. LOAF tracked 25 city centre deals during the quarter, with the most significant transaction being Network Rail’s acquisition of 108,576 sq ft at Princes Exchange, adjacent to Leeds Railway Station.

Emerging city centre locations like Aire Park are also gaining traction. Two notable lettings were completed at 3 South Bank Street—23,270 sq ft to Interactive Investor and 23,261 sq ft to TPT Retirement Solutions—highlighting the shift toward high-quality office hubs in new districts.

Out-of-town activity surged, with 94,861 sq ft transacted across 26 deals—a 140% year-on-year increase. The quarter’s most significant suburban letting was 2 Work’s commitment to 19,513 sq ft at White Rose Park. This was followed by Trimble UK taking 13,617 sq ft at Trimble House on Gelderd Road.

Grade A office rents in the city centre continued to climb, driven by limited availability. As pricing tightens, high-spec suburban locations are likely to see increased attention from occupiers seeking quality space outside the city core.

The data reflects a growing interest in premium workspaces across Leeds, suggesting a competitive environment for businesses seeking well-located and high-quality office space.

New employment law changes will affect use of agency workers

UK businesses that rely on agency workers, especially those on zero-hours contracts, must start preparing for a major shift in employment law. Under new measures introduced in the government’s Employment Rights Bill, agency workers will soon be entitled to greater job security, improved working conditions, and more predictable scheduling.

The changes are part of a broader move to reduce what the government calls “one-sided flexibility,” which has long affected zero-hours and low-hours contract workers. Employers will be required to give clearer information on terms of engagement, including guaranteed hours. There will also be rules requiring reasonable notice of shifts and compensation when work is cancelled or altered at short notice.

The new legislation aligns the rights of agency workers more closely with those of directly employed staff, including protections against unfair dismissal. This means businesses can no longer use agency workers as a workaround to avoid compliance with fair work practices expected under these reforms.

The Employment Rights Bill is expected to pass into law by summer 2025. Implementation will be phased, with some provisions taking effect in autumn 2025 and the rest following in 2026.

Employers, particularly small to medium-sized enterprises (SMEs) or those without in-house HR teams—are being urged to review their employment contracts, policies, and staffing strategies now. Failure to comply could expose businesses to legal and financial risks once the new rules take effect.

Artech acquires Powerlite Fitzgerald to expand lighting market presence

Durham-based Artech Lighting has acquired North Yorkshire lighting manufacturer Powerlite Fitzgerald in a strategic move to strengthen both companies’ positions in the lighting industry. The deal, completed this week for an undisclosed sum, allows both firms to expand their market reach while continuing to operate as separate entities.

Artech, which designs and manufactures lighting solutions in the UK for global clients, will now oversee operations at Powerlite Fitzgerald’s Keighley base. The North Yorkshire firm, with over 40 years in the domestic lighting market, will maintain its brand identity and day-to-day operations, but under new leadership from Artech managing director Stuart Hylton.

The acquisition is expected to drive growth through shared expertise and increased investment. Both companies are set to benefit from operational independence while adopting mutual best practices. No centralisation of services is planned, allowing each business to retain its distinct market focus and in-house capabilities.

The move also signals Artech’s intent to broaden its footprint in the UK lighting sector, leveraging Powerlite Fitzgerald’s established reputation in domestic markets alongside its own international client base.

Clearpoint Recycling signs major PET supply deal to support new UK recycling facility

Clearpoint Recycling, a Harrogate-based waste management and recycling firm, has secured a significant nine-figure contract with Enviroo, a specialist polyethylene terephthalate (PET) recycler based in Cheshire.

Under the five-year agreement, Clearpoint will supply 35,000 tonnes of PET material annually to Enviroo’s upcoming recycling plant at Ellesmere Port, set to open in 2027. The facility will process PET waste into certified food-grade recycled PET (rPET), aimed at meeting increasing global demand for sustainable packaging materials.

The deal strengthens the UK’s domestic recycling infrastructure and supports the future implementation of the Government’s Deposit Return Scheme (DRS) by helping to secure a stable supply of recovered PET bottles. It is also expected to generate skilled roles across commercial and operational functions within the sector.

Clearpoint Recycling, founded in 2012, partners with regional waste firms including Yorwaste and H W Martin Waste Ltd to manage recovered materials. The company recently expanded into Lithuania, reflecting broader ambitions to scale its operations globally while maintaining local sourcing strategies.

Shackleton expands into personal injury finance with IMAM and TWP acquisition

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Shackleton has acquired IM Asset Management (IMAM) and its subsidiary, TWP Wealth, from the Irwin Mitchell Group, launching a new Personal Injury and Court of Protection Division aimed at supporting clients with life-changing injuries. The transaction is pending approval from the Financial Conduct Authority.

The move brings approximately £1.4 billion in funds under management and advice into Shackleton’s portfolio. IMAM, which operates across Sheffield, Leeds, Newcastle, Manchester, Birmingham, and London, manages the majority of these assets internally. TWP Wealth, based in Alderley Edge, Manchester, will retain its focus on high-net-worth financial planning under the Shackleton brand.

The acquisition strengthens Shackleton’s regional footprint in Yorkshire and the North West, while expanding its specialist capabilities in injury-related financial planning. The deal adds 88 professionals, including 20 financial advisers, to the firm, with IMAM CEO Stewart Sanderson joining Shackleton’s executive committee.

Shackleton, a chartered financial adviser and wealth manager headquartered in London, is positioning this acquisition as part of its broader strategy to grow its nationwide advisory services.

ITM Power raises revenue outlook as cash position strengthens

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Green hydrogen equipment maker ITM Power has raised its full-year revenue forecast, citing the recognition of revenues tied to completed contractual obligations. The revised outlook now sits between £25.5 million and £26.5 million, up from the previously stated range of £18 million to £22 million.

The Sheffield-based firm, which produces electrolysers used to generate hydrogen from renewable electricity, has also upgraded its cash position guidance. It now expects year-end net cash of £204 million to £205 million. This follows a stronger-than-expected second half, outpacing earlier forecasts issued in both August 2024 (£160 million–£175 million) and January 2025 (£185 million–£195 million).

Despite the improved top-line and cash performance, ITM Power still anticipates an adjusted EBITDA loss of between £32 million and £36 million for the financial year.

Shares in the AIM-listed company surged by more than 20% in early trading before settling around 9% higher by mid-morning. However, the stock remains down 38% over the past year.