The capacity market may need a “basic redesign”, as proposals to reform it are beginning to look like “flogging a dead horse”, shadow energy minister Alan Whitehead has insisted. Last week the government laid out a number of potential changes to the mechanism after the first two
Retirement house-builder McCarthy & Stone has seen a 31% leap in revenues in the past year, but has voiced uncertainty about achieving next year’s targets. Above: Chief executive Clive Fenton McCarthy & Stone’s latest financial year ended on 31st August 2016 and while it will not report its full results
Kingsbridge Estates has appointed Amiri Construction to develop 11,000 square metres of manufacturing space at Chichester Food Park. Above: CGI of the new factory The £19m Drayton development will expand manufacturing facilities for Natures Way Foods (NWF), a supplier of ready-to-eat fruit and salad products. Construction work has now started
Housing Minister urged to supply more rental properties The social housing sector argues that housebuilding is needed now more than ever New housing minister Gavin Barwell is being urged by industry pundits to support the building of more new homes to rent by relaxing the rules around public
Wintire, the Sheffield based speciality wire manufacturer, has secured a £50,000 investment to increase its productivity and green credentials. The £2.7 million turnover firm makes bespoke wire from carbon alloy, stainless steel and copper alloy for the engineering, textile and medical industries. Around 25% of orders are exported to customers
Flybe has launched a new Newquay flight from Leeds Bradford Airport. Flybe’s new route between Leeds Bradford Airport and Cornwall Airport Newquay officially launched on October 28. Operating for the first time as part of Flybe’s 2016-17 winter schedule, the three times weekly service has been made possible thanks to
WilkinsonEyre has seen off strong competition to win the job to design Leicester’s new £18 million Great Central Railway Museum. The Stirling Prize-shortlisted practice’s winning ‘iconic design’ beat proposals by six rival practices including HawkinsBrown, Carmody Groarke, Grimshaw, Farrells and BDP. WilkinsonEyre’s design includes three two-storey exhibition halls with a
A firm in the North East is to begin supplying graphene commercially for the first time, and has more deals in the pipeline, only weeks after MP’s criticised UK industry for failing to capitalise on the wonder-material’s discovery. Graphene was first isolated in 2004 at the University of Manchester. The
Property management company Cycas Hospitality has acquired sought after hotel Staybridge Suites Newcastle. This is the 5th Staybridge Hotel to come under the Cycas umbrella. The hotel will continue to operate under the Staybridge Suites Newcastle name. Cycas Hospitality is already responsible for the property management of two hotels in the North West.
The capacity market may need a “basic redesign”, as proposals to reform it are beginning to look like “flogging a dead horse”, shadow energy minister Alan Whitehead has insisted. Last week the government laid out a number of potential changes to the mechanism after the first two auctions brought forward just 4.5GW of new capacity and just one new combined cycle gas turbine (CCGT) plant. The proposals include increasing the overall amount of capacity bought, selling some of it earlier and holding an extra auction for the winter of 2017/18 so the Contingency Balancing Reserve can be closed a year early. Speaking to Utility Week, Whitehead said the government appeared to be “taking a large amount of money and throwing it up against a wall to see if any of it will stick to new gas fired power stations”. He said it was unclear if the reforms would actually succeed in pushing up the auction clearing price by enough to encourage investment in new CCGT plants. Even if it did, he added, the cost could be “stupendous” – “probably getting on for £2 billion”. Whitehead argued for a “much more fundamental rearrangement” of the capacity market in order to “reduce the amount of free money that was going out to various people for no apparent purpose” and to “concentrate more exactly” on what is required in terms of new build gas power stations. He said he didn’t think the mechanism was on course to succeed in doing either of those things: “At the moment we’ve got probably the worst of all worlds.” “You could almost get the conclusion that actually the department is flogging a dead horse”, he added. Source link
Retirement house-builder McCarthy & Stone has seen a 31% leap in revenues in the past year, but has voiced uncertainty about achieving next year’s targets. Above: Chief executive Clive Fenton McCarthy & Stone’s latest financial year ended on 31st August 2016 and while it will not report its full results until November, it has provided a trading update. Legal completions increased by 20% to 2,299 units (2015: 1,923) and the net average selling price increased by 8% to £259,000 (2015: £239,000). This meant that revenue increased by 31% to approximately £635m, up from £486m the previous year. With £52m net cash in the bank and a land bank increased to 10,206 plots (2015: 10,087), the company is in a strong financial position, the board said. Whether it hits its target of 15% volume growth in the financial year just started remains difficult to predict, however, chief executive Clive Fenton said. Mr Fenton said: “We continue to capitalise on increasing demand for retirement housing driven by the UK’s rapidly ageing population and have delivered strong growth in completions, reservations and profit this year. Notwithstanding current increased market uncertainty following the EU referendum result and any financial impact on the business in the short term, McCarthy & Stone remains in robust health to capitalise on a continuing benign land market and the attractive fundamentals of the retirement market over the medium term.” He added: “Whilst it is too early to judge what medium term impact we will see from the EU referendum result and the Bank of England’s subsequent changes to monetary policy, prolonged housing market weakness, particularly in the secondary market, could affect our ability to deliver our targeted 15% volume growth previously indicated for the financial year ending 31st August 2017. There has been some improvement in customer sentiment during the month of August, however, it is too early to predict at this stage whether these improving conditions will persist into the new financial year.” This article was published on 2 Sep 2016 (last updated on 2 Sep 2016). Source link
Kingsbridge Estates has appointed Amiri Construction to develop 11,000 square metres of manufacturing space at Chichester Food Park. Above: CGI of the new factory The £19m Drayton development will expand manufacturing facilities for Natures Way Foods (NWF), a supplier of ready-to-eat fruit and salad products. Construction work has now started and completion is due by spring 2017. The new facility, designed by MH Architects, will create a low-energy, sustainable chilled building with a focus on reduced impact on the environment. Finished with a curved solar PV roof and silver surface to ensure heat reflection, the building will also have an unusual roof drainage system to capture rainwater and run off to nearby pond systems. Amiri Construction previously worked with Kingsbridge Estates to extend Natures Way’s Runcton facility and build its Merston plant. NWF chief executive Susan Barratt said: “With the build of Drayton we plan to create one of the most advanced fresh food manufacturing facilities in the UK by creating a new facility that is innovative, green and a brilliant place to work.” This article was published on 9 May 2016 (last updated on 9 May 2016). Source link
Housing Minister urged to supply more rental properties The social housing sector argues that housebuilding is needed now more than ever New housing minister Gavin Barwell is being urged by industry pundits to support the building of more new homes to rent by relaxing the rules around public funding in the sector. The appeal has been launched in response to an independent report, published this week by the Centre for Economic and Business Research and commissioned by the National Housing Federation, which predicts that the UK economy could contract by £145 million in the next 10 years if the rate of growth in new housing completions falls at the same rate as it did in 2008. Spokesmen for the National Housing Federation and the Chartered Institute of Housing argue that building more homes for rent or shared-purchase would help keep housebuilding and the economy going in a time of economic austerity. Up to 300,000 units could be built by housing associations by 2020, according to the NHF, if funding is made available – even in the face of economic uncertainty. CIH statistics show that during the last recession the number of homes built by non-profit housing associations increased by 22 per cent between 2007 and 2009, while private development dropped off 37%. The call from the sector bodies for the government to redirect some of the current funding to allow construction of new housing association homes for rent is likely to be welcomed by would-be occupants, demand from whom currently outstrips supply. Reallocation of the central budget to allow housing associations to build more rental homes would also mitigate the negative effects of a general slowdown in the housebuilding sector, widely anticipated as a result of Brexit, according to James Howard, partner in Clarke Willmott LLP’s social housing development team. Howard said: “A change in funding strategy to switch the balance to building more for rent than for sale should allow for a supply of new homes to continue despite the gap private sector housebuilders might leave behind.” Jonathan Hulley, Clarke Willmott’s head of housing and asset management, said that the Government’s flagship starter homes scheme would lead to the undermining of sales of more affordable shared-ownership properties and fails to address the urgent need for more affordable homes to rent. The social housing sector argues that housebuilding is needed now more than ever – people are in need, waiting lists are still growing – so the policy of building more homes for sale only needs to be revised and adapted to allow for the building of more homes for rent. There is also a worrying lack of capacity on the ground to deliver which needs to be addressed, and a question-mark over what appetite there is for outright purchase of houses on large scale. On the other hand the kind of shared ownership offered by housing associations puts homes within the reach of the many people who would otherwise be unable to afford them. It’s high time for a change in government policy to support greater flexibility to deliver not just on homes for sale, but also allowing more to be built to rent.” Source link
Wintire, the Sheffield based speciality wire manufacturer, has secured a £50,000 investment to increase its productivity and green credentials. The £2.7 million turnover firm makes bespoke wire from carbon alloy, stainless steel and copper alloy for the engineering, textile and medical industries. Around 25% of orders are exported to customers in the European Union, India, China, US and South Africa. Wintwire received the £50,000 business loan from Finance Yorkshire as part of a greater investment to fund the purchase of equipment that cleans wire rod – the raw material of wire – prior to manufacturing. The equipment contains tanks that clean, treat and dry the wire rod using chemical baths. Wire rod was formerly transported to a third party supplier for cleaning. Managing Director of Wintwire, Marc Turner, commented: “The equipment uses a new chemical system on wire rod coatings to remove mill scale. It does the job better and more efficiently. “We can now get the wire rod cleaned immediately prior to production, which means that turnaround of customer orders will be faster. “The equipment also makes us more environmentally-friendly because it does not use as much energy. In addition, we are not sending lorries up and down the motorway with wire to be cleaned.” Wintwire makes wire on rolling and drawing machinery, which are supplied in coils on spools or cut lengths. The firm was formed in 2003 and employs 30 members of staff. Portfolio manager at Finance Yorkshire, David Ward, added: “The Wintwire team has considerable experience in the wire industry, blending manufacturing heritage with the latest technology. “The new cleaning plant will speed up the production process and enable the business to enhance its service to a growing and global customer base.”
Flybe has launched a new Newquay flight from Leeds Bradford Airport. Flybe’s new route between Leeds Bradford Airport and Cornwall Airport Newquay officially launched on October 28. Operating for the first time as part of Flybe’s 2016-17 winter schedule, the three times weekly service has been made possible thanks to the Government’s Regional Air Connectivity Fund. Nigel Eaton of RHS Garden Harlow Carr travelled to Newquay on the inaugural flight to present a white rose to the Eden Project, with the Eden Project’s managing director, Gordon Seabright, who reciprocated with a ‘China Clay’ Camellia. Judith Donovan CBE, non-executive chair of the Eden Project, chair of the tourism partnership destination dales and a former chair of the Yorkshire Tourist Board, was also invited on the first ever flight. Donovan commented: “Cornwall and Yorkshire are two of the most distinct and celebrated places in the UK. This new flight will help forge stronger bonds between them and provide a great service for leisure visitors and the business communities.” Aviation Minister Lord Ahmad said: “It is fantastic to see Flybe launch this new direct air service between Leeds Bradford Airport and Newquay. Passengers and businesses will benefit from faster journeys, while trade and tourism opportunities will be opened up in Yorkshire and Cornwall. “the Government is driving investment” “By supporting new regional air routes, the Government is driving investment and boosting growth across the whole of the UK.” Vincent Hodder, Flybe’s chief revenue officer, added: “With a scheduled flight time of just one hour and 20 minutes, Flybe is delighted to give its regional customers a convenient, alternate option to an otherwise six hour drive or eight hour train journey to and from Cornwall. “This is another perfect example of the importance of the Regional Air Connectivity Fund’s role in encouraging and supporting the UK regions and perfectly dovetails with Flybe’s commitment to connecting the UK regions ‘Faster than Road or Rail’.”
WilkinsonEyre has seen off strong competition to win the job to design Leicester’s new £18 million Great Central Railway Museum. The Stirling Prize-shortlisted practice’s winning ‘iconic design’ beat proposals by six rival practices including HawkinsBrown, Carmody Groarke, Grimshaw, Farrells and BDP. WilkinsonEyre’s design includes three two-storey exhibition halls with a glass wall allowing visitors arriving by train to see into the museum from the track. The scheme allows the Great Central Railway to retain the existing railway station building and its platform – a feature which local campaigners had fought to keep. The new museum, which is being funded by the Heritage Lottery Fund, will house a collection of locomotives and provide a new headquarters for the Great Central Railway. Supported by the National Railway Museum in York and Leicester City Council, the new 5,105m² facility will be constructed next to the heritage railway’s existing Leicester North terminus. Chief executive of the Great Central Railway Andy Munro said: ‘This will be a museum for the whole of the city and the county and it was vital we consulted as widely as possible before choosing the winning design. ‘There were several key factors to consider; would the new building be the right environment for the intended displays, was it iconic enough considering where it will sit on the city skyline and of course, does it fit with the projects budget? The museum team were set a hard task by such a high standard of shortlisted schemes, but we’re confident we have chosen the right one.’ Paul Kirkman, director of the National Railway Museum, added: ‘We have a number of irreplaceable locomotives which will go on display within the museum. Famous names like ‘Green Arrow’ and ‘Butler Henderson’ deserve to be shown off in a building that is just as iconic, but crucially has to be able to protect the exhibits too.
A firm in the North East is to begin supplying graphene commercially for the first time, and has more deals in the pipeline, only weeks after MP’s criticised UK industry for failing to capitalise on the wonder-material’s discovery. Graphene was first isolated in 2004 at the University of Manchester. The material is a thin layer of pure carbon that has a number of potential uses because it is light, tough, strong and a good conductor. MP’s on the Science and Technology Select Committee have recently questioned the progress being made into the commercialisation of graphene, after £120 million of public funding was invested into its research over the last five years. However, soon after the comments were made, Redcar-based Applied Graphene Materials (AGM) secured its first production order and commercial application of its “graphene nanoplatelets”. The deal with Century Composites will see the firm supply the graphene to strengthen a number of high performance fishing rods. Chief executive of Applied Graphene Materials, John Mabbitt, said the next supply deal was likely to be next year for a paint with improved resistance corrosion. The company’s graphene has been proven to significantly improve resistance moisture penetration. Mabbitt commented: “Graphene is not going to sell itself itself. You have to demonstrate to people what it can do in certain circumstances. We are providing a materials solution that improves properties or cost, competing against other materials. “There are between 25 to 40 companies around globally supplying graphene. They are a similar size and at a similar stage to us.” AGM’s patented process for producing graphene differs from most methods, which rely on splitting layers of graphite using chemical, mechanical techniques or putting energy into it. Instead, AGM’s process involves catalytically cracking alcohol and then reassembling the carbon atoms into the benzene rings which form the basis of the graphene.
Property management company Cycas Hospitality has acquired sought after hotel Staybridge Suites Newcastle. This is the 5th Staybridge Hotel to come under the Cycas umbrella. The hotel will continue to operate under the Staybridge Suites Newcastle name. Cycas Hospitality is already responsible for the property management of two hotels in the North West. It acquired Staybridge Suites Liverpool in February of this year with a hotel set to open in Manchester in 2017. Completing the Staybridge Suites portfolio are the London based Vauxhall and Stratford City hotels. Staybridge Suites Newcastle has been operating from its Buxton Street location since it opened in 2009. It currently ranks 2nd out of 81 hotels in Newcastle-upon-Tyne and also achieved 20th place in TripAdvisor’s Top Hotel of 2015. The property boasts 128 suites comprised of 95 studios and 33 one bedroom apartments. ‘A natural fit’ Speaking following the deal Managing Partner of Cycas Hospitality Eduard Elias said: “Newcastle is one of the most culturally and commercially dynamic cities in the UK. It has invested over £250m in transforming its cultural infrastructure. The city is well positioned on the high-speed East Coast mainline so most of the UK’s city hubs are just a short train ride away. New intercity trains are also due to run between Liverpool and Newcastle by December 2017. Newcastle’s accessibility, its skilled workforce and the presence of strong international companies makes it a natural fit for the extended-stay hotel market.” Cycas’ full portfolio extends even further. The company recently announced a deal with Starwood Capital Group for managing extended stay hotels in London Bridge, Tower Bridge, Bermondsey and Earls Court / Kensington. This makes Cycas the 2nd biggest operator of serviced apartment/apart-hotels in the UK’s capital. Jeremy Jones, Head of Brokerage – Hotels at specialist business property adviser Christie & Co added: “Strong interest was received for the Staybridge Suites Newcastle from a wide range of domestic and international parties.”
