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2025-05-29 07:45:38
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Plans for more than 1,000 new homes in major mixed-use scheme for Porthcawl
2025-05-21 08:21:30
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2025-05-27 00:05:25
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2025-05-23 21:21:59
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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."
2025-06-01 22:24:59
Sale of luxury London hotel boosts profits of family-owned empire
Apex Hotels, the family-run hospitality empire, has reported a substantial increase in pre-tax profits to £28.4 million for the year ending 30 April 2024, following the lucrative sale of its Apex London Wall Hotel in July 2023, which netted an £18.9 million gain. The group also saw revenues climb from £74.8 million to £79.4 million during this period, attributed to higher room occupancy and rates, as reported by City AM. The proceeds from the hotel sale, along with funds from a refinancing agreement with Barclays Bank, are fuelling Apex Hotels' expansion across the UK. In its latest financial year, the company added Pine Trees Hotel in Pitlochry and Meldrum House Country Hotel and Golf Course in Aberdeenshire to its portfolio. This year, it has continued to grow, acquiring The Vineyard Hotel in West Berkshire and the DoubleTree by Hilton Dunblane Hydro in central Scotland. Angela Vickers, Chief Executive of Apex Hotels, expressed optimism about the future, stating: "Following strong trading last year, we have set out a path for continued growth of the portfolio through strategic acquisitions and refurbishment of existing properties." "The acquisition of Pine Trees, Meldrum House, The Vineyard and the DoubleTree by Hilton Dunblane Hydro marks a new chapter in the group’s history as we venture into rural resorts and hotels. Offering greater choice will help maintain customer loyalty and enhance the guest experience." "Maintaining a healthy profit margin has allowed us to continue to sustainably re-invest in our hotels, our people and our continued commitment to our ESG strategies." "I am delighted to see the impact of investment in plant and infrastructure delivering reductions in scope one and scope two carbon footprint during the year, despite the three per cent increase in total rooms sold." "We look forward to another strong year in 2025 as we continue to grow our market position and establish ourselves as one of the top independent hotel groups in the UK."
2025-05-26 04:44:59
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.
2025-05-24 16:22:34
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.
2025-05-22 18:00:55
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."
2025-05-05 03:16:17
£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."
2025-05-10 11:36:08
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.
2025-05-28 20:33:28
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.
2025-05-20 09:30:14
Manchester's building boom falters to 'lowest level in 10 years' as huge developments fall through
2025-05-26 05:23:17
Travis Perkins cements Black Country presence with warehouse deal
2025-06-01 10:15:40
Spares business secures news warehouse for expansion
2025-05-07 09:44:27
Record resi projects in Birmingham but new construction starts to fall
2025-05-29 08:28:26
Property group snaps up Northumberland industrial estate in £5m deal
2025-05-06 09:12:44
Gloucester Quays shopping centre hails 'record year'
2025-05-30 02:29:43
Cardiff's Debenhams department store now nearly fully demolished
2025-05-23 17:52:32
New self-storage facility launches
2025-05-04 15:58:45