Network Space Investments secures £9m Sheffield industrial estate

April Lara
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Network Space Investments secures £9m Sheffield industrial estate

Network Space Investments (NSI) has acquired a 103,262 sq ft industrial estate on Grange Mill Lane in Sheffield for £9 million. The estate, located near Meadowhall and junction 34 of the M1, includes four vacant warehouse units with substantial yard space and parking.

NSI plans to refurbish the property to create a modern industrial hub. The space will offer flexible unit sizes ranging from 10,000 to 50,000 sq ft, with eight-metre eaves. The refurbished space will be available by late summer 2025, addressing the tight supply in the local market.

This acquisition is part of NSI’s ongoing strategy to reinvest capital after the recent sale of its Europa Way property in Trafford Park. The company has also made recent acquisitions in Oakhill, Manchester, and Cowley Way, Sheffield, expanding its presence in key regional markets.

As part of its growth strategy, NSI is seeking new investment opportunities across the North of England and expanding its asset management team to support future acquisitions.

Government takes over running of Scunthorpe Steel plant

April Lara
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Government takes over running of Scunthorpe Steel plant
In shocking news over the weekend, the Government passed a bill that allowed them to effectively take over British Steel’s Scunthorpe plant from its Chinese owners. Keir Starmer visited Scunthorpe after the decision became law, meeting with relieved locals and industry groups who had for months been asking the government to step in and protect the site. A reprasentatice for the government said that the Chinese owners had been making unreasonable demands of late, and it’s believed the site would have stopped producing steel entirely if the government had not stepped in.

Nineteen47 partners with Honey to support 21 development sites

April Lara
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Nineteen47 partners with Honey to support 21 development sites

Planning consultancy Nineteen47 has partnered with housebuilder Honey, providing expertise across 21 of Honey’s development sites. This collaboration includes planning, urban design, and visualisation services to support the builder’s rapid expansion.

The 21 sites, primarily located across Yorkshire and the Midlands, will deliver up to 2,850 new homes with a projected gross development value of £795 million, pending planning approval. Nineteen47, with offices in Sheffield, York, and Nottingham, has been advising clients in various sectors, including residential, commercial, healthcare, and manufacturing, since its founding in 2015.

Honey, established in 2022 with offices in Leeds, is backed by Alchemy Partners’ £937 million Special Opportunities Fund IV. The company employs 80 staff and is involved in five live developments, such as the Iris project in Goldthorpe and Homes by Honey in Edwinstowe. The partnership with Nineteen47 is central to Honey’s ability to secure planning consents and move forward with its growth objectives.

Leeds development for 384 flats receives approval after adjustments

April Lara
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Leeds development for 384 flats receives approval after adjustments

A development plan for 384 flats near the Armley Gyratory in Leeds has been approved after the developer agreed to increase the number of discounted homes. The scheme, proposed by UCR Leeds Ltd for the Wellington Road and Armley Road site, faced delays when the City Plans Panel deferred their decision last month.

Initially, the developer proposed only seven flats at a discounted rate, below 80% of market rent, which fell short of the council’s policy of 20% affordable housing. However, after further negotiations, the number of discounted units was increased to 19, making the project more in line with council expectations.

The revised plans also include added green space and design improvements. Notably, a proposed padel tennis court was removed in favour of more outdoor communal areas. The developer will contribute £530,000 for off-site green space enhancements as part of the development agreement.

The panel unanimously approved the revised plans at a recent meeting. Pending legal agreements, the final consent has now been delegated to the council’s chief planning officer.

Businesses in Yorkshire seek more office time despite hybrid working benefits

April Lara
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Businesses in Yorkshire seek more office time despite hybrid working benefits

New research from Grant Thornton UK has revealed that although hybrid working has improved productivity and well-being, many businesses in Yorkshire are still keen to see their employees spend more time in the office.

The latest Business Outlook Tracker surveyed mid-sized businesses in the region, finding that 84% have adopted a hybrid working model. Most of these businesses report significant advantages, with 95% citing increased productivity, 93% observing a positive impact on employee wellbeing, and 91% confirming that staff prefer hybrid arrangements. Additionally, 95% of respondents believe hybrid working benefits their business.

However, despite these positive outcomes, 93% of businesses still want employees to return to the office more often. This is partly due to the recognition that some activities, particularly mentoring and developing younger staff, are more effective when conducted face-to-face. 86% of businesses with hybrid working models acknowledge that it has affected their ability to adequately support and train less experienced employees.

Businesses are now seeking the right balance between flexibility and in-person collaboration to ensure productivity and professional development continue to thrive.

Insolvency figures rise in Yorkshire amid economic uncertainty

April Lara
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Insolvency figures rise in Yorkshire amid economic uncertainty

In Yorkshire, insolvency activity has increased significantly, with cases rising to 284 in March, up from 248 in February. This marks a notable increase in financial distress within the region, reflecting broader economic pressures affecting businesses nationwide.

The Yorkshire & Humberside region now ranks fourth in the UK for insolvency activity, behind Greater London, the North West, and East Anglia. The data, analysed by R3, highlights a continued upward trend in insolvencies across all regions of the UK, pointing to a challenging financial landscape.

Rising costs, economic volatility, and reduced consumer spending have been major factors contributing to the region’s insolvencies. Many businesses are struggling with cash flow issues, and creditor actions have become more assertive in response. Inflationary pressures and uncertainty over future economic performance compound these difficulties.

While insolvency numbers have risen, Yorkshire has also seen an increase in new business activity, with a rise in startup registrations. However, the overall outlook for businesses remains cautious, as financial instability continues to impact established companies and new ventures in the region.

Fitzwilliam Estate plans spa hotel development on historic farm site

April Lara
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Fitzwilliam Estate plans spa hotel development on historic farm site

The Fitzwilliam Estate has submitted a proposal to Rotherham Council to transform a cluster of disused heritage farm buildings in Wentworth into a spa hotel, complete with a swimming pool, restaurant, holiday cottages, and event space.

The site, known as Home Farm, sits adjacent to the independently owned Wentworth Woodhouse, a major heritage attraction. The development is positioned to complement tourism in the area and support local economic growth.

The plan includes the restoration of several listed buildings. The Threshing Barn is earmarked for hotel use; the Gun Park would become a restaurant; the Potting Sheds and Cart Sheds would be converted into hotel suites. The Powerhouse, a 1904 structure once supplying electricity to Wentworth Woodhouse, would be repurposed as an events and wedding venue.

The scheme also provides for new visitor parking and an additional access route via Granny Clarke’s Wood, aimed at easing traffic congestion in the village.

This investment aligns with a broader push to boost visitor numbers and spending in the region, with the Wentworth Woodhouse Preservation Trust expressing support for the proposal. The Fitzwilliam family, who retained ownership of the farm properties after selling the main estate in the 1980s, continues to manage development around the historic site.

Rothschild & Co expands UK regional wealth team with new senior hires

April Lara
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Rothschild & Co expands UK regional wealth team with new senior hires

Rothschild & Co has expanded its UK Wealth Management regional team with three new appointments in Leeds and Manchester, aiming to support growing demand from high-net-worth clients outside London.

Edward Binks has joined as Director in Leeds, bringing experience from James Hambro & Partners, Aberdeen Standard Capital, and Newton Investment Management. He will work alongside Alison Probert, who launched the Leeds office in 2022.

Tom Fleming and Jessica Pearson have joined as Assistant Directors. Fleming, based in Leeds, previously advised private clients at Brown Shipley. Pearson, based in Manchester, moved from Investec after earlier roles with Evelyn Partners in Belfast.

Northern Gritstone secures £50m to fuel Northern innovation

April Lara
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Northern Gritstone secures £50m to fuel Northern innovation

Northern Gritstone has secured £50 million in new funding to expand its investments in early-stage life sciences and deep tech businesses in the North of England.

The capital injection includes £35 million from Northern LGPS, the asset pool representing pension funds for Greater Manchester, Merseyside and West Yorkshire. The remaining £15 million comes from new backers Fulcrum Asset Management and Aviva. This latest raise brings Northern Gritstone’s total capital to £362 million.

Targeting university spinouts, the firm backs high-growth businesses in sectors such as semiconductor design, advanced materials, secure computing, artificial intelligence, healthtech, and gene therapies. Since its 2022 launch, Northern Gritstone has completed 32 investments, grown its investment team, and introduced its in-house accelerator, NG Studios.

As part of its growth, the company has added Paddy Dowdall, assistant director at the Greater Manchester Pension Fund, to its board as a non-executive director.

The move signals continued momentum for Northern Gritstone’s strategy of building a robust regional innovation ecosystem by turning academic research into commercially viable ventures. The firm is positioning itself as a key player in unlocking the commercial potential of university R&D in the North.

Deputy Mayor of Market Deeping breaks ground at brand-new development in the town

Michael Fisher
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Deputy Mayor of Market Deeping breaks ground at brand-new development in the town

The Deputy Mayor of Market Deeping, Councillor Robert Broughton, and housebuilder Allison Homes East have officially marked the start of construction work on a brand-new development in the town.

Allison Homes East hosted a ground breaking ceremony on the site, where the Deputy Mayor of Market Deeping was able to meet with the construction team, receive a tour of the site and learn about the housebuilder’s plans for its future.

Alongside providing high-quality new homes, the housebuilder will be providing in excess of £650,000 worth of S106 contributions, which will go towards supporting the existing community and education services.

Adam Knight, Managing Director at Allison Homes East, said: “We are incredibly proud to have broken ground on our Beaufort Gardens development, and it was a pleasure to have the Deputy Mayor celebrate this achievement with us.

“Our former Market Deeping development, Beaufort Grange, was a huge success and we are very excited to be returning to the town and continuing our investment. At Allison Homes East we pride ourselves on delivering exceptional quality homes, creating places that are more than just bricks and mortar and instead communities where people can live and thrive. Now construction work is underway, we are looking forward to delivering these new homes to the highest standards.”

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