Yorkshire Law firm Ware & Kay announces Lucy Gilman as Head of its Wetherby office
Yorkshire Law firm Ware & Kay Solicitors has today announced the promotion of Lucy Gilman, to Head of its Wetherby Office. Lucy will take over the responsibility for a growing team delivering commercial, development and residential property, litigation, family, employment and wills and probate services in the West and North Yorkshire region. Lucy takes over the role from Director Michael Peach who will continue to be involved in the business going forward.
Lucy, who joined Ware & Kay in 2012 has over 16 years of experience as a Residential Property Solicitor. She has a wealth of knowledge and a strong reputation for superb client focus. Lucy has represented a number of high profile clients on complex property transactions and is extremely well-regarded within the industry. She has a reputation for establishing close working relationships with clients which enables her to understand them in order to act in their best interests. Lucy will play a key role in supporting the growth of the firm as it continues to expand.
Commenting on her promotion Lucy said: ‘I am looking forward to leading the Wetherby team and embracing this position. My aim will be to focus on assisting in the development of the firm and building relationships with other professionals to continue to deliver quality legal services to clients in Wetherby as well as the wider West and North Yorkshire region.
David Hyams, Managing Director at Ware & Kay said: “I am delighted to congratulate Lucy as Head of our Wetherby Office. It is always wonderful to recognise the achievement and dedication of members of our team. I shall be working closely with Lucy in the future and wish her all the best in her new role”.
Ward Hadaway has strengthened its offering to businesses with two further key senior appointments
Kathryn Walters joins Ward Hadaway as a partner from international law firm Eversheds Sutherland, bringing her specialist finance experience and expertise to the firm. Kathryn will be primarily based at Ward Hadaway’s Leeds office, where she will lead the Yorkshire banking and finance team as a core part of the Corporate team, supporting its continued growth led by partners Adrian Ballam and Jonathan Pollard.
Mark Wilkinson, a specialist in Insolvency and Restructuring also joins Ward Hadaway’s commercial dispute resolution team as a partner from Knights PLC. Mark, who is based in the Leeds office, strengthens the law firm’s already nationally-recognised insolvency and restructuring services.
Steven Petrie, head of Ward Hadaway’s Commercial Dispute Resolution department, said: “Ward Hadaway is focused on helping our clients and our community to prosper and grow. We understand our local markets very well, and a big strength for both Kathryn and Mark are the relationships and reputation they have in the Yorkshire region.
“As well as operating independently, we can also see great potential for them to work together to provide a really rounded and comprehensive service to businesses and their funders.”
Robert Thompson, head of the firm’s Corporate department, said: “Ward Hadaway has a large network of banking and finance organisations that it supports across Northern England. In her role, Kathryn will focus on maintaining the relationships the firm has with key regional businesses, while forging new partnerships in the banking and finance space, attracting new clients to Ward Hadaway. Mark will be pivotal to helping financial services organisations and other businesses with insolvency and debt restructuring processes and issues.”
Talking about her new role, Kathryn Walters said: “It has been great to join Ward Hadaway in Leeds at a time when I can help support the growing team as they continue to champion high-growth businesses across the region, as well as deliver expert, and well managed, legal support for the region’s funders. I’m also excited to be playing an integral part in the development of the firm’s strategic and transactional Restructuring practice, working alongside Mark to deliver holistic solutions to local businesses, and the funders of local businesses, encountering challenging financial circumstances.”
The appointments of Kathryn and Mark are part of a strategic growth plan for Ward Hadaway’s Corporate team – already recognized as one of the most prolific in the region and nationally.
Mark added: “It is an exciting time to join Ward Hadaway in Leeds. As well as building on Ward Hadaway’s highly regarded insolvency practice, it is great to be able to help provide support to the other practice areas such as Corporate, Commercial, Property Litigation and Commercial Dispute Resolution. These teams have all grown in the region over the last 2 years, and I look forward to playing my part as we help clients tackle the challenges that lay ahead as the economy rebuilds from the numerous lockdowns.”
Lincolnshire-based premium foods provider secures £250,000 growth funding
A food & drink producer based across Lincolnshire has secured £250,000 to upgrade its production facilities, create jobs and service its growing customer base.
Wild Jacks Ltd secured the finance from Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme (RLS). The MEIF funding will help to upgrade the company’s production facilities and create eight new jobs in the next year.
The investment will also allow the company to increase capacity in its existing events catering facilities, refurbish the premises and service new national contracts.
Founded in 2020 by Stuart and Joanna Hancock, Wild Jacks sources high-quality foods, bakery and meat products from Lincolnshire and operates multiple business lines, working with local producers, arable and meat farmers to sustainably provide these products to a range of customers.
Wild Jacks is home to a number of brands including Odling’s Butchers of Navenby, Welbourne’s Wine & Deli, Welbourne’s Bakery and their most recent acquisition, JH Starbuck (Baker & Caterer).
Stuart Hancock, founder of Wild Jacks, said: “Lincolnshire has a proud history of agriculture and thanks to this investment, we will be able to accelerate our growth plans to offer high-quality, sustainable and local produce to a national range of customers. It has been great working alongside Leo and The FSE Group’s Midlands team, the funding arrives at a really important time for the business as we scale up our operations to service our growing customer numbers.”
Leo Magee, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, adds: “We were impressed by Wild Jacks’ track record of rapid growth. The team boast senior personnel with significant experience in the industry. Additionally, the company has an impressive suite of business lines with a focus on providing the best locally sourced products. We are delighted to be able to offer this funding and look forward to working with Stuart, Joanna and the team to ensure they reach their goals for growth.”
Sarah Louise Fairburn, chair of the Greater Lincolnshire Local Enterprise Partnership’s Food Board, said: “This is great news for an exciting new Lincolnshire business, and this funding underlines the importance of the food sector to Greater Lincolnshire. Our area is home to some outstanding food producers, from fish to free range pork and from cheese to chocolate. It’s no wonder that a business which champions Lincolnshire produce has become so successful so quickly. The new UK Food Valley will raise the profile of our food sector even higher and make it easier for innovative businesses like Wild Jacks to thrive.”
Pledges sought for Christmas Dinner Project – bringing a festive treat to families in need
To make someone’s Christmas Day extra special, Pepperells Solicitors are running the Christmas Dinner Project again in 2021 – and are looking for pledges.
Those who get involved in the Christmas Dinner Project will be helping some of the most needy families in our area enjoy a festive treat.
Morrisons have kept the meal pledge amount the same this year, so for £25 a family can be provided with the festive ingredients they need to make a traditional Christmas meal.
The Christmas Dinner Project works in partnership with churches and food banks to provide a meal for families that would otherwise go without. Many of the families it works with do not have presents under their tree and for them Christmas is just another day.
Last year a record 450 dinners were provided to local families in Lincolnshire, East Yorkshire and the North East.
If you would like to pledge, get in touch with Clare Williams at Pepperells Solicitors: Clare.Williams@pepperells.com
Sills & Betteridge lead sale of Hemswell-based International Security Group in multi million pound deal
In a deal which took many months of negotiation, led by Sills & Betteridge Corporate Partner Martin Walsh, Tag Security Holdings Ltd (TSH) has now been acquired by The Smartwater Group, supported by its primary investment partner, Freshstream.
As part of the newly expanded group, TSH, which operates as Tag Guard in the UK, and BetaGuard in Europe, will continue to supply mobile security systems (including site intruder detection and access control products and services), and plans to provide an even broader range of technologies which deter crime and maximise the chances of a successful criminal prosecution.
The multi million pound transaction involved the sale of TSH, an English holding company with subsidiaries in Holland, Belgium, Germany and Canada, requiring Martin Walsh to co-ordinate multiple advisors and jurisdictions.
Commenting on the sale, Martin Berends, Managing Director of TSH, said: “Until completion of the sale of TSH, I was a majority shareholder, a Dutch national and resident, heading the international businesses of the group. I had little knowledge of the complex English legal process concerning selling shares in an English company. It was therefore absolutely vital for us to find and instruct a lawyer of Martin’s calibre.
“Martin smoothly guided us to a successful completion following a very lengthy and intensive sales process during which Martin provided the legal and commercial expertise, reassurance and confidence that only comes with more than 30 years of International Merger and Acquisition legal and transactional experience. Martin came to us very highly recommended. He delivered on all counts.”
Martin Walsh said: “I am delighted that Martin and the other shareholders were so pleased with the outcome of the deal. Now TSH is part of a much larger global group with an increased product range, their future looks to be very strong and I wish them every success.”
Manufacturing input prices rise at 30-year survey record rate as supply chain pressures remain intense
UK manufacturers continued to face a challenging operating environment in November, as severely stretched supply chains disrupted production schedules and drove up input prices to the greatest extent in a survey’s 30-year history.
The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) rose to a three-month high of 58.1 in November, up from 57.8 in October. All five of the PMI components had a positive influence, as production, new orders, employment and stocks of purchases rose and supplier lead times lengthened.
Output increased for the eighteenth month running in November, with the rate of expansion accelerating slightly from October’s eight-month low. Companies reported that improved new work intakes – especially from the domestic market – and efforts to build safety stocks supported increased output.
There remained widespread mention of input and labour shortages stymieing efforts to raise production, however. This led to existing stocks being depleted to satisfy customer orders.
The strain on supply chains also led to further substantial lengthening of average vendor lead times. Resulting shortages of components and commodities, combined with input demand outstripping supply, led to a survey record increase in average purchase prices. Around three-quarters of manufacturers reported a rise, compared to less than 1% seeing a fall. Cost and market pressures also affected selling prices, which rose at a rate close to October’s series-record.
November saw inflows of new business increase for the tenth straight month, underpinned by stronger UK market conditions, returning customers and rising client confidence. The trend in new export orders worsened, however, with intakes dropping for the third month in a row. There were reports of weaker demand from China, disruption to trade with the EU (in part due to ongoing Brexit complications) and the cancellation of some orders due to extended lead times.
Capacity also remained stretched at UK manufacturers during November, with backlogs of work rising to a near record extent. This supported further job creation in the sector, with employment rising for the eleventh month running and at the quickest pace since August.
Purchasing activity rose for the tenth month running in November. Increased input buying reflected rising production needs, safety stock building and efforts (including overpurchasing) to minimise supply chain delays. Input stock holdings expanded solidly as a result.
UK manufacturers maintained a positive outlook during November, with business optimism rising to a three-month high. Over 63% of companies expected output to rise over the coming 12 months, with only 6% forecasting a decline. Positive sentiment was linked to COVID recovery, economic growth, new product launches, planned marketing campaigns, business expansions, diversification, innovation and reduced supply chain stress.
Commenting on the latest survey results, Rob Dobson, Director at IHS Markit, said: “Although November saw rates of expansion in output and new orders gain some traction, growth remains lacklustre compared to the first half of the year. Manufacturers are facing a challenging backdrop, with rising supply chain disruptions, staff shortages and inflationary pressures stifling growth while ongoing difficulties caused by Brexit and logistical headaches restrict opportunities to expand into overseas markets. New export sales fell for the third straight month.
“Firms costs meanwhile continue to surge relentlessly higher, rising at the steepest pace in the three decades of survey history. Stretched supply chains, component shortages and a vast mismatch between demand and supply are all exerting massive upwards pressure on input costs. This is also filtering through to prices charged at the factory gate, which rose at a rate close to October’s record high.
“For those concerned about the strength of the jobs market as support schemes are withdrawn, positive news is provided by a further solid rise in manufacturing headcounts.
“The current mix of supply-side constraints, cost increases, skill shortages and rising demand for labour will add to the expectations of an imminent rate increase by the central
bank, but the survey highlights how the subdued rate of manufacturing growth and export decline leaves industry in a vulnerable position to any new headwinds, not least the Omicron variant.”
Duncan Brock, Group Director at the Chartered Institute of Procurement & Supply, said: “Sluggish global supply chains remained uppermost in the minds of manufacturers this month. Disruption led to a new three-decade high in terms of mounting prices and supplier
delivery times increased for the 29th consecutive month holding back further output.
“New orders flows exacerbated the problem in manufacturing capacity with the fastest intake for threemonths, and it was the domestic market that made up the majority of the new work. Export orders dropped back again as long lead times, port and shipping difficulties caused some clients to lose patience and opt to source elsewhere.
“This didn’t detract from the optimism in the sector as 63% of manufacturers that conditions would continue to improve – if only in fits and starts. With more success in finding skilled labour they are preparing for supply chain issues to even out and for price rises to subside. 74% of supply chain managers paid more for their goods in November, as prices charged also accelerated at a rapid pace raising fears that the UK economy could over inflate if supply chain disruption doesn’t subside in the first quarter of 2022.”
Gear4music acquires audio-visual equipment retailer in £9.2m deal
York-headquartered Gear4music, the online retailer of musical instruments and music equipment, has completed the acquisition of AV Distribution Ltd (trading as AV Online) in a £9.2m deal.
AV Online is an online retailer of audio-visual equipment. It increased revenues by 54% to £8.6m during the last financial year to 31 March 2021, generating adjusted EBITDA of £1.3m and profit before tax of £1.2m (FY20: £0.4m).
Founded in 2003 by Carl Pickles, AV Online operates from a 26,000 sq ft warehouse, offices and showroom in Bacup, Lancashire. AV Online has 21 members of staff.
Commenting on the announcement, Andrew Wass, Chief Executive Officer, Gear4music, said: “We are very pleased to have completed the acquisition of AV Distribution Ltd trading as AV Online, and welcome the team into the Gear4music Group.
“AV Online is an online retailer of audio-visual equipment, including HiFi speakers and home cinema systems.
“With the launch of AV.com scheduled for January, we look forward to building on the profitable growth achieved by AV Distribution Ltd, and leveraging the strength of our e-commerce platform and our European infrastructure to accelerate our growth in this £2.7bn European market.
“We are also pleased to report our systems and supply chain operations have performed well over the busy Black Friday and Cyber Monday period, and we continue to be confident that our full year financial results will be in line with the recently revised consensus market expectations.”
New images revealed for Hull’s £96m Albion Square development
New images have been revealed of Hull’s transformative £96m Albion Square development.
The large development in Hull city centre will feature a mixture of residential, office and retail space, as well as a large urban park.
The proposals, designed by FaulknerBrowns Architects and landscape architects Gillespies, will also use rewilding to create a new and natural green space, both for residents and the city.
The project is being delivered by Hull City Council’s construction partner, VINCI Construction UK.
Throughout the development, new buildings will complement the existing architecture, history and colour of this part of the city centre.
Councillor Daren Hale, leader of Hull City Council and portfolio holder for regeneration, said: “This development, just like our Hull: Yorkshire’s Maritime City project, has Hull’s history and heritage at its heart.
“The iconic mural will be the face of what will transform the city centre, creating first-class housing, retail units and office space, along with a unique and stunning urban woodland.
“This important development will compliment and add to the incredible investment and regeneration we have already seen on the Marina and in the Old Town. Albion Square is a vital part of our exciting vision for the city centre.”
Alan Boyson’s Three Ships Mural will be incorporated and made a key component of the new development, alongside retail space facing Albion Square, adding to the retail offer of Jameson Street and King Edward Street. Modern apartments will also be created at this part of the development, which will have access to stepped rooftop gardens.
The rear of the development will feature retail units, as well as housing sensitive and complimentary to the existing Georgian architecture on Albion Street. This will include family homes and apartments, some of which will have private gardens.
At the centre of the site, a new urban woodland will reconnect communities with city centre green space, allowing nature back into our urban areas through rewilding.
Adam Greatrix, associate partner at Gillespies, said: “The Urban park represents far more than just a new park, this water based, biodiverse space is a statement of Hull City Council’s commitment and response to the climate emergency, to create a more sustainable and climate resilient city for its community.”
The urban park will be an example of how we can live with water, showcasing how rainwater can be stored, filtered, drained sustainably, and become an amenity, even play opportunity, for its inhabitants rather than relying on traditional underground drainage networks.
The result will be a dynamic and ever-changing park where water levels can rise and fall depending on weather conditions, to create either parkland or urban wetland.
Niall Durney, associate partner at FaulknerBrowns Architects, said:
“Albion Square will bring new activity and life to Hull city centre and provide the type of green space that is essential to sustainable, post-covid cities.
“Our design focuses on repairing the urban grain of this part of the city, by re-instating historic streetscapes and framing an important piece of public art. The new buildings are all centred around the urban park, allowing both residents and the wider city to enjoy accessible, natural green space.”
The design of the park draws inspiration from Hull’s dramatic estuary landscape and the biodiverse and ecological-rich river banks. Bridges and decks will guide people through the park which will feature water, lush green spaces, seating areas and artistic elements.
The plans for Albion Square also include a bike hub where cyclists will be able to store bikes.
The development will also include solar panels, EV charging points and other sustainable features.
The plans will go to Hull City Council’s planning committee for final approval in early 2022.
Construction of the site is scheduled to begin in 2023.
The plans include an urban park in the heart of the development.
An image of how the rear of the development could look from Albion Street.
Work begins on £40m affordable council housing development in Leeds
Work has now started on a £40million council housing development which will see the regeneration of Throstle Recreation Ground and the former Middleton Skills Centre in Leeds.
The project off Middleton Park Avenue is one of the largest being undertaken as part of Leeds City Council’s Housing Growth Programme and will be made up of 60 two-bed, 38 three-bed, two four-bed properties and four bungalows.
It will also feature an extra care housing facility for older people requiring care and onsite support, with 47 one-bed and 13 two-bed contemporary open-plan type apartments which will provide secure, well-designed homes that are wheelchair accessible and allow for future adaptability and 12 one-bed bungalows which will be built specifically for adults of working age with disabilities.
The development will provide benefits to the wider community through delivering improvements to the existing public open space and creating a recreation ground and a central area suitable for numerous leisure activities.
Soft landscaping will be used to enhance the green space with a feature area of wildflower meadows; the planting will improve the aesthetics of the area and provide a space for pollinating insects and wildlife.
Tree planting will further enhance the area by creating a focal point that will also provide both shade and increase biodiversity. Pathways will provide access routes for the community with strategically placed seating and natural play areas.
Created by developer Wates Construction, the site will be equipped with an underground district heating system to provide the properties with energy-efficient heating and hot water, supporting the council’s commitment to tackling the climate emergency through new energy-efficient, affordable housing options. In addition, each property will have off-street parking and an electrical vehicle charging point.
The development is scheduled to be fully completed by autumn 2023.
Councillor Helen Hayden, Leeds City Council executive member for infrastructure and climate, said: “I am thrilled to see that work has now started on site to create one of the council’s largest affordable housing projects. Not only will it contribute positively towards our ambition of building more affordable housing in the city, but the new energy-efficient homes and electric vehicle charging points will also help in our efforts against the climate emergency.
“We know green space is important, especially in this area, and that is why a clear focus of this development is to invest in high-quality green space for people of all ages to benefit from and we will continue to work with residents in the surrounding areas to minimise disruption as much as possible. I look forward to seeing this exciting project develop over the coming months.”
David Wingfield, Regional Director North East, Wates Construction, said: “We have an excellent relationship with Leeds City Council and look forward to working with them. We fully recognise how important housing growth schemes like this are to the council’s future ambitions and we’re proud to play our part in the delivery of this affordable housing project, which will not only benefit the local economy and provide new green spaces for the community, but by accessing a network of local SME’s, this scheme will have a lasting impact on the local economy from the very outset.”
Trading ahead of expectations at Belvoir
Trading is ahead of expectations at Belvoir, for the ten months to the end of October 2021, with both of the group’s divisions, property and financial services, achieving year-on-year growth.
The Lincolnshire-headquartered company noted that its property division, which contributed 77% of the group’s gross profit, achieved gross profit growth of 29%.
Income from lettings was 21% up on 2020 resulting from unprecedented demand for rental properties with rents increasing in all areas of the UK, as well as the acquisition of Nicholas Humphreys, a predominantly student lettings network.
Meanwhile, income from sales was up 65%, mainly a result of the strongest market for property transactions seen since 2007.
The financial services division, which contributed 18% of the group’s gross profit, continued its strong growth with gross profit up by 39%.
Belvoir’s network of mortgage advisers increased by 21% from 202 at the start of the year to 245 by the end of October. This represented a net increase of 43, which arose through organic recruitment and 21 from the acquisition of Nottingham Mortgage Services, the mortgage arm of The Nottingham Building Society.
The group remained focused on meeting the demand for house purchase mortgages for much of 2021, and now, given signs that interest rates might rise, are benefitting from a busy period for remortgages.
The group’s operating activities continue to be highly cash generative underpinned by Belvoir’s significant recurring lettings income stream. As of today, net debt is down to £2.7m (31 December 2020: £3.7m) despite having deployed £4.0m of cash in March to acquire the Nicholas Humphreys network and £0.6m in July to acquire Nottingham Mortgage Services.
Current substantial pipelines of house sales and written mortgages support Belvoir’s end of year forecasts. Consequently, the board expects that the performance for the full year, in terms of profit before tax, will be ahead of management’s expectations for 2021 and substantially ahead of 2020.
Dorian Gonsalves, CEO, said: “In 2021 we have seen our franchisees and mortgage advisers take advantage of an exceptionally strong sales market. The sector undoubtedly benefitted hugely from the Government’s decision to extend the stamp duty holiday until September 2021, following which we have seen a predictable slowing in the number of new instructions as the market normalises.
“We anticipate that given the ongoing pent-up demand from buyers, the market will return to more usual transaction levels in 2022. In the meantime, our current pipelines remain strong and support outperforming our end of year forecasts.
“The board is mindful that 2022 is likely to present further challenges for the wider economy, but we are confident in our business model of supporting entrepreneurial franchisees and mortgage advisers to achieve their business ambitions, and that our growth strategy of organic growth coupled with investment in profitable property franchise and mortgage networks will continue to prove successful and deliver long-term shareholder value.”
