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ON THE MARCH
NEPAL TRAGEDY
BEST BIB AND TUCKER
How the rise of student property market is changing city – p8&9
How entrepreneur is responding to impact on her workers – p5
Pictures from the Lord Mayor’s Charity Gala Dinner – p10&11
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06 MAY 2015
BIG INTERVIEW
BETTER CALL PAUL We talk to the man who has millions to invest in local businesses
A greener Bristol is a greater west. EPB-E01-S3
#GreaterWest
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Wednesday, May 6, 2015
Property
Employment
Youngsters get help with first job reference
Kohyspl Nhytly
Managing Director Synergy Renewables Ltd www.synergy-renewables.com
Free green way to save thousands
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ELP your business go green at no cost to you, and reduce your electricity bills by thousands of pounds a year. Now there are no excuses! How? Synergy Renewables Ltd fully funds the installation, monitoring, insurance, and maintenance of solar PV at zero cost to business. So no deposit, no finance agreement, no loans, and no maintenance costs. We install 10-250kw Commercial Solar PV arrays (40-1000 solar panels) Our return is the 20-year Government Feed-in-Tariff, and the supply of the low-cost electricity generated from each solar PV array. So our clients get something for nothing, and generate their own free green electricity. Electricity prices have doubled in the past 12 years. Our reduced electricity pricing is fixed, and only increases in line with the Retail Price Index. So as electricity prices continue to increase in the years to come, our clients’ annual savings grow from year to year. As each array is a 20-year investment for Synergy Renewables Ltd it is in our interests to make sure that each system is designed for optimum performance. ● We only install the highest quality equipment ● We only partner with the industry’s leading and accredited installation organisations ● We monitor the system remotely to ensure real time performance is maintained ● We protect the system with comprehensive maintenance contracts and insurance cover. And of course there are environmental benefits too. Solar is clean energy produced by “conducting the Sun’s radiation”. A process that doesn’t create any smoke, gas, or other chemical byproduct. Two-thirds of carbon emissions worldwide are created in the process of generating electricity (excluding solar). A 30 kilowatt (120 solar panels) solar energy system generates about 450kw hours of energy per month and has the tremendous potential to promote environmental sustainability. Such a system keeps approximately 510lbs of coal from being burned, approximately 900lbs of carbon dioxide from being emitted into your environment and over 1620ltrs of water from being wasted. It also keeps sulphur dioxide and nitrous oxide from being released into the atmosphere. The Sun is an unlimited commodity that can be sourced from many locations, primarily unused roof space. So if your business has unused roof space it can be used to help you save money, and help save the environment at the same time.
● How the development will look from St Thomas Street
£160m plan Work to start on first phase of revamp Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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HE first phase of a £160 million transformation of part of Bristol city centre will soon get under way after securing planning approval. The plans for a new development which promises to transform a derelict part of Redcliffe have been unanimously passed by Bristol City Council. The scheme by Change Real Estate for a mixed-use development of flats and shops is just the initial phase of the company’s vision for what it is calling the Redcliff Quarter.
Falling within a conservation area, this first phase will include 128 flats and three or four retail units at 25 Redcliff Street, 14 and 14a St Thomas Street. The developer, a private real estate company founded by Ron Persaud and Jonathan Bloomer, specialises in complicated sites where there may be lots of different owners or a history of failed applications. Ron said: “This is great news. We are now able to progress with phase one of our vision for Redcliff Quarter, which will create a vibrant and exciting community in the heart of this historic and much loved area of Bristol.” Work to start clearing the 0.8 acre site, which is close to Bristol Bridge, will start in the summer, with con-
struction planned to start in the autumn. The £180 million, 500,000 sq ft development at Redcliff Quarter is being brought forward as a joint venture between Change Real Estate, Cannon Family Office and ICG Longbow. Plans for phase two, comprising 2.29 acres of adjacent land, bordering Redcliff Street, St Thomas Street and Three Queens Lane, will be submitted in early 2016. Bilfinger GVA acted as planning consultants for Change Real Estate, with architects Lyons Sleaman Hoare. Change Real Estate recently jointly acquired a Georgian terrace made up of six town houses which had been converted into offices in Redcliffe Parade West.
● VOLUNTEERS from businesses across Bristol are helping young people in their struggle to get their first job. Youngsters often complain about the difficulty of making that breakthrough because they are asked for a reference. Victoria Beaton, 17, from St Brendan’s Sixth Form College, said: “You get asked for a reference, but no one gets that you can’t get a reference until you have had a job.” Education charity Envision, which runs the inter-school competition the Community-Apprentice – supported by Bristol mayor George Ferguson in the role of a more socially-minded Lord Sugar – thinks it has a solution. Manager Alice Young said: “Community-Apprentice is a bit like the TV programme. On TV, the candidates have to develop and demonstrate their personal qualities while developing and managing their own project. In our programme, communityapprentices are making the biggest positive difference to the community, rather than seeing who can make the most money. “More than 200 have taken part this year, and we’ve given them real responsibility. They decided what they wanted to change and how they wanted to do it. And with the support of business volunteers from across Bristol, they have been able reflect on their experiences and the soft-skills they have developed – the same skills they will need to succeed in the workplace.” More than 100 corporate volunteers are supporting the programme with their time, knowledge and experience to prepare the young people for the world of work. Alice said: “We have designed session plans to help our adult volunteers to draw out what young people have done over the past year. They have taken part in interviews and captured the best examples of the skills developed and created a reference for the young people to use in job and university applications.” Chris Cook, of the Freemasons Grand Charity, a supporter of the programme, said: “It’s such a simple, but highly effective, idea.”
Property
Call for independent body to set housing policy HOUSING policy should be in independent hands, regardless of the outcome of tomorrow’s General Election. That was one of the key outcomes of an expert panel debate organised by leading property group Andrews that aimed to examine how the election might impact the property market. With housing-related issues featuring as highly on the list of election hot topics as the economy, the NHS and immigration, the panel debate covered a myriad of issues from the impact of pension freedom on the property market, to the importance of policy to protect and support Generation Rent. However, the issues of tackling the
supply of affordable housing and the way in which housing policy is managed formed the focus of the debate. Andrews chief executive Michael Robson, who took part in the debate, said: “Housing and property issues have been more prominent in this election campaign than ever before and so we decided to hold the debate to examine what impact the various parties might have on the market. “We didn’t set out to draw conclusions, simply provide views and food for thought. “However, in spite of housing sit more prominently than ever before, it seems that there is eagerness amongst those in the sector for it to sit with an independent body, much
● Andrews’ boss Michael Robson
like monetary policy is independently managed by the Bank of England. “A move to independence would allow for longer term housing visions and policies to be made that could extend for ten or 15 years, not simply the five-year duration of our parliamentary system.” The panel of experts also debated which, if any, of the parties vying for power might have the best solution for providing more affordable housing, the effect fixed-term parliaments have on the housing market, and whether the private rental sector should be subject to more control. The debate can be watched on YouTube.
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Tech
On the move Digital agency has room to grow after office switch Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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DIGITAL agency has doubled its revenue and increased its team by half over two years, prompting a move to a bigger office. Nudge Digital, which builds websites and apps, and offers digital marketing services, has moved to new premises at South Plaza, in Marlborough Street, where it has room to keep growing. The agency, whose Snapcycle app was one of six finalists in the recent Bristol Green Capital Digital Challenge, has hired Gemma Hood as account director. Gemma, who previously worked at Jam, the London digital agency, will spearhead its new business drive after a number of high-profile national client wins, including the Home Office, for the Cyber Streetwise campaign; the Health and Safety Executive and the Department of Health. Staff numbers have gone from six to 11 and the firm plans to recruit further staff in the coming months. Revenues are up from £400,000 to £780, 000. Bosses hope the move to the bigger and brighter offices will boost creativity and help the team to work in new ways. The agency was founded in 2006 by University of Bristol graduates Luke Aikman and Ben Organ. Since then, the team and expertise have been growing. Latest recruit Gemma, who spent seven years in London working with big-name clients such as Sky, Bupa and Tesco delivering brand strategy, mobile and social campaigns, said:
“ Nudge is a great firm to join. It is entrepreneurial, passionate about finding great solutions for its clients and is growing at an incredible pace Gemma Hood
“Nudge are a great firm to join. “They are entrepreneurial, passionate about finding great solutions for their clients and they are growing at an incredible pace.” Luke, inset left, who is chief executive, added: “With businesses becoming increasingly digital-centric, from their marketing to operations, I hope our pragmatic approach focusing on impact continues to position us for further growth.
“This is an exciting time for Bristol’s tech scene, which is really beginning to realise its position as the UK's tech leader.” Luke, a law graduate, created Loccit.com, which was a way of storing memories from Facebook before the site created its own timeline. A serial entrepreneur and a start-up specialist with board positions in advertising, IT, film and training, Luke also founded the Young British Entrepreneur programme, delivering entrepreneurship courses to UK schools and
universities. Internationally, Nudge has opened offices in Ghana and Dubai and it is looking to expand its public sector online campaign work overseas. Its Are you Cyber Streetwise? website was built for the Home Office and it encourages the public and organisations to consider the risks of cyber crime and how they could reduce attacks on their own cyber data. It has interactive features such as a personalised cyber safety to-do list for each user.
Internet
Team’s animal magic earns major app award
● The app opens the world of wild animals to children Steve said: “This is a terrific gateway to the wild world, a chance for kids to reach out to animals on the other side of the world. “A young audience engage most effectively with wildlife when they feel like they have an actual connection to the animals, as if they can reach out and touch them, actually interacting with wild wonders. “This app enables the user to do just that, watching exotic and iconic
animals in real time, taking part as their real lives and dramas unfold, whilst learning hot facts and playing games that let them feel like they are a part of the animal’s world.” It works by using live animal video feeds, remotely operated by experienced wildlife documentary makers from the Bristol office, where six of the firm’s 15 staff are based. It also has an office in Russia. Game mechanics are built into
raw film footage of real wild animals, creating an experience where, for example, a child can tilt the iPad to drop a hunk of meat for Limun the lion and then shout into the iPad to attract her attention to it and watches as Limun seems to respond. It was created in collaboration with academic, Professor Gail F Melson, author of Where the Wild Things Are: Animals in the Lives of Children. Creator Svetlana Dragayeva said: “Virry allows children to experience real wild animals, but doesn’t overlay the experience with crude animations, human emotions or anthropomorphism. It encourages parents to use digital culture to nurture children through nature. “We are honoured to win a Webby, having just launched in test markets to date.” Learn more at www.virryapp.com or download for free to an iPad in the iTunes store.
Anniversary joy for fledgling businesses ● AN organisation that supports start-up businesses is claiming a remarkable 100 per cent success rate for firms it helped to launch just over a year ago. North Somerset Enterprise Agency reported that all 13 businesses it supported in March 2014 reached their first-year anniversaries – a key milestone that many new businesses fail to achieve. And five businesses helped by the agency in March 2012 have all reached their three-year anniversaries. The agency moved to its new HQ – The Hive business centre, in Weston-super-Mare – last year. Chief executive, Angela Hicks, said she was thrilled with the success rate. “Starting out in business is one of the hardest things anyone will do and every business failure that we see is the breakdown of someone’s business ambitions,” she said. “So the more we can help new businesses succeed and grow, the better for the business owner and indeed for our local economy as the business grows and flourishes and creates jobs and wealth. “We know that starting out with some expert input increases the chance of success. However, to be able to report 100 per cent success for March across one year and three years is a fantastic result. “We congratulate all the business owners concerned on their milestones and success and welcome the next generation of new businesses who started out with us this quarter.” Across the first quarter from January to March, the survival rate was 86 per cent at year one and 73 per cent at year three.
Retail
Shoe retailer opens store in Broadmead ● GLOBAL shoe retailer Skechers USA has moved into Bristol’s Broadmead shopping centre, where it will trade as Clubsport Skechers. The retailer has acquired a new 10-year lease on 79 Broadmead, in the pedestrianised section close to Footlocker, M&S and Boots. It has a ground floor sales area of 1,099 sq ft, with space on the first and second floors totalling 1,986 sq ft. Skechers has been operating within department store outlets, but plans to increase its presence in the major cities across the world. Hartnell Taylor Cook LLP advised landlords M& G Real Estate and Burston Cook represented the retailer.
Get in touch Assistant Editor (Business) Gavin Thompson Call 0117 934 3336 Email gavin.thompson @b-nm.co.uk Twitter @gavin_thompson1 Advertising Robert Rodgerson Call07584 003229 Email robert.rodgerson @b-nm.co.uk Advertising Jane Chapman Call 01179 343025 Email jane.chapman @b-nm.co.uk
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A BRISTOL agency has won a Webby award in New York for its app that helps children to interact with animals. The team at Fountain Digital Labs created educational app Virry, which helps bring wild animals to life for children, giving them the chance seemingly to interact with the creatures through their iPads. It won the People’s Choice Webby award in the mobile sites and apps category of ‘Family & Kids’. And despite having only launched in a few test markets, it already has celebrity fans, including actor Dominic West, of The Wire and BBC drama The Hour, and environmentalist Steve Backshall. Dominic said: “I spent all morning on Virry with my two boys and we love it. We fed a lion and watched a rhino live – all from our living room sofa! It's a safe, educational and utterly compelling way to learn about the animals we love. Get on it, it's brilliant!”
Start-ups
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Wednesday, May 6, 2015
Bristol Post Business Awards 2015
“ We had a great 2014 and indications show that there is an appetite for both business and leisure travellers to visit Bristol and stay in quality accommodation.
Hotel ‘We aim to go beyond the expectations of all our guests’ Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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HOTEL is aiming to be the best in Bristol after a £5 million investment. Four star DoubleTree by Hilton, Bristol City Centre on Redcliffe Way was rebranded in 2013 and has been pushing up its AA ratings. Now general manager John Dowling who, along with his management team, embarked on a programme to improve the venue’s customer service, is hoping to add success in the Bristol Post Business Awards to the list of achievements. Before the rebranding, the staff
were providing basic customer service standards and without an overall direction. It was a fragmented system where a guest could experience several different standards of service throughout their stay. However with occupancy in 2014 reaching unprecedented levels and a
● John Dowling, general manager of the four star DoubleTree by Hilton, Bristol City Centre, above right significant increase in the number of conference bookings, the venue is now a key asset for the city and one of the best hotels for both business and leisure guests. It’s why the city centre hotel has entered the Customer Service Category in this year’s Bristol Post Business Awards. According to John, there is only so much you can do with a building and he puts the hotel’s more recent success down to the high levels of customer service that’s now delivered consistently to all the hotel’s guests. He said: “We had a great 2014 and indications show that there is an appetite for both business and leisure travellers to visit Bristol and stay in quality accommodation. “I’ve no doubt that having a brand
name that people are familiar with has not only increased our own occupancy levels but helped attract more people to the city who are familiar with the Hilton name. “Another significant reason for the hotel’s improved performance is down to the customer service. “Being involved in the hospitality sector means it’s imperative to always have excellent standards of service. This helps maintain high customer retention. “All customers expect exceptional service when they spend their hard earned money. “If someone decides to stay at the hotel they do not want to be disappointed. The goal is to go beyond what is expected with no request ever being too much trouble.
“We’re doing well because of the commitment, passion and dedication of all the staff to provide the best possible stay at the hotel and to surpass the expectations of guests when they visit. “We’re conscious that we have to keep improving the overall appeal to maintain the good progress made in 2014 and are looking at ways in which we can increase our capacity as well as facilities.”
presence here. From reading all the submissions for the various awards, we are greatly impressed by the ingenuity and drive of the Bristol business community. However, this entrepreneurial spirit can only thrive in the right surroundings. In sponsoring the Lifetime Achievement Award, Punter Southall seeks to recognise an individual who, over time, has made a
significant contribution towards the success of our city. We are sure that this year’s recipient will be seen to embody the vision and commitment that has underpinned Bristol’s success. We send our very best wishes to all those taking part in these awards and look forward to a great evening. Punter Southall sponsors the Lifetime Achievement Award.
● Entries for the Bristol Post Business Awards have now closed and the finalists will be revealed in these pages next Wednesday. To book tickets for the gala dinner on June 25 at the Passenger Shed, visit www.bristolpost.co.uk/ businessawards.
Sponsor profile
We’ll honour someone who has lifted our city
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PUNTER Southall Group is a large UK-wide pension and employee benefit consultancy, wholly owned by its staff and incorporating actuarial, investment and pension administration services. Founded in 1988, we now employ around 850 people throughout the UK. Now firmly established in Bristol, it is important for us to be seen as an integral part of the local business community, celebrating its success and encouraging the next generation of businesses. This is our third year of involvement with the Bristol Post Business Awards, an event that we are delighted to support. At Punter Southall, we work with businesses of all sizes and in all sectors; from those at the cutting edge of technology to more traditional industries; from large plcs to small businesses. We also have a large number of clients in the charity and not-for-profit sector, including many
organisations involved in social housing. Whilst being a national business, we use local suppliers wherever we can and we have built long-term relationships with many local small businesses. Our role primarily involves us helping our clients to design, implement and manage pension arrangements for their employees. It ranges from helping employers to fulfil their new legal obligations under the “auto enrolment” regime and support their employees in making decisions that are right for them
● Chris Mapp, head of office at Punter Southall when they retire, to administering and managing risk under legacy “final salary” pension schemes. We work with the trustees of occupational pension schemes, as well as with employers that provide such arrangements. As we all know, Bristol is a great place to live, work and do business, and this is why Punter Southall has been so keen to develop a significant
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Relief effort
Nepal quake disaster My workers’ homes have been turned to rubble Z|wly{ Rhupzjo
Business@b-nm.co.uk
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DESIGNER based in Horfield is set to visit her workforce of 150 Nepalese women, who have seen their homes destroyed by last month’s earthquake. Adele Zara Collinson founded Felt So Good in 2009 after travelling around Nepal and India and striking up relationships with the cottage industry there. Since then, she has grown the business to sell purses, bags and other accessories which are designed in Bristol and produced by traditional craftswomen, many of whom live in a village just west of Kathmandu close to the epicentre of the earthquake which struck on April 25. More than 7,000 people are known to have died in the earthquake, with many more injured and hundreds of thousands of Nepalis made homeless by the disaster. Short of water, shelter, clothing and food, a global relief effort is under way to provide aid for those stricken by the earthquake before winter sets in at the end of October. Adele, who is 32, is taking the first flight available to Nepal in a fortnight and before then hopes to raise as many donations as possible to help support the families of the 150 women in her employment. She said: “I have close relationships with 150 members of staff who work over there and nearly all of them have lost their homes. “There’s a village just west of Kathmandu which is where most of my workers are and nearly all of it has just fallen to the ground. I’m lucky that most of my workers have survived. But they’ve got nothing. “They have all gone to see if their families have survived. When they
Health and safety
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Own staff advise on office expansion
● A NEW Health and Safety business has benefited from its own expertise during the expansion of its new HQ. BNS Health and Safety, an offshoot of BNS Property Management, is overseeing the expansion of its offices in Downend, as it prepares to add more employees to its team. Set up by BNS Property Management owners Andrew and Ian Simmonds, and led by health and safety expert Maxine Matthews, the firm will offer consultancy and training to businesses, schools and organisations. Maxine said: “It’s a really exciting time for us at BNS at the moment.” Andrew added: “It has been great to be able to utilise our skilled workforce on this project rather than outsourcing.”
Business Pulse
Put your questions to mayor Ferguson
● Adele Zara Collinson with some of the bags and accessories made by her Nepalese workers come back they will have nowhere to live – they’ll need shelter, clean water, food and dry clothes. “So from pennies to pounds it will all make a big difference and I have people over there who can distribute it, to give them a bit of hope. “Their homes are just piles of rubble and they’re struggling to find water. You can buy straws which purify water, which are quite light so I can take them with me, as well as purifying tablets and things like that, too.” Adele, whose company has contracts with John Lewis, Harrods and
“ They have all gone to see if their families have survived. When they come back they will have nowhere to live – they’ll need shelter, clean water, food and dry clothes. Adele Zara Collinson
Selfridges among others, said it was too early to say what impact the earthquake would have on her business. “At the moment the future of Felt So Good isn’t the most important thing,” she said. “I just want to get out there and see what help I can give. I’ll know more about the company when I get out there.” Adele has set up a funding page on her website where people can donate to the cause online. Adele has set up a funding page where people can donate to the cause online. It can be found at gogetfunding.com/project/nepal-earthquake-help-directly.
● THERE’S still time to book your place to hear Bristol mayor George Ferguson take business questions. On May 27 we are highlighting the BDO Bristol Post Business Pulse survey, which seeks to identify the challenges and opportunities for businesses across the Greater Bristol area. As well as launching the next survey, we will be putting questions to the mayor on the topics covered so far. Limited spaces are still available for business leaders to attend the event. If you would like to register your interest please do so by visiting https://www.survey monkey.com/s/XHFFP9H. When registering interest, there is an option to submit a question for the mayor for consideration. Attendees will be invited to take part in the next survey, which covers employee engagement and recruitment, technology and innovation and outsourcing.
Pitch to Rich competition
Hopes riding on pony ahead of bid to Branson TWO Bristol start-ups are hoping to impress Richard Branson and win a package of support to the value of £150,000. Open Bionics, based at UWE in Frenchay, and Horsology in Tockington, South Gloucestershire, are hoping to reach the latter stages of the Pitch To Rich competition. To prove she isn’t just horsing around. Christina Jones took Immy the Welsh mountain pony to a pitch roadshow in central Cardiff. She hoped the stunt would catch the eye of judges and generate some in-
terest in her online marketplace for the horse industry. Christina, who founded the business last year, said: “Our real life #pitchpony was walking the streets of Cardiff encouraging people to vote for us and help propel us to the finals. “We covered her in posters and QR codes and strapped a go-pro cam on too. It certainly caused quite a stir in the city centre and gave us a chance to collar lots of commuters and got us a lot of attention from the Virgin team.
“Immy is a Welsh mountain pony and her breed would have been traditionally used down the mines so it seems appropriate that as the valleys are being propelled into the tech industry boom, we’re putting the pony to alternative hi-tech use too!” Meanwhile Open Bionics, which aims to make bionic limbs for amputees for a tenth of the current market price, is no stranger to pitching. The firm was runner up a Intel’s global Make It Wearable competition, successfully pitching to star names including Venus Williams.
● Christina Jones with Immy the Welsh mountain pony in Cardiff
The Bristol MBA EPB-E01-S3
Find out more Open Evening 13 May, UWE, Frenchay Campus, Bristol www.uwe.ac.uk/bristolmba
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Wednesday, May 6, 2015
The Big Interview
MAN WITH CHEQUEBOOK TO HELP BU
Gavin Thompson talks to Paul Oldham who, as regional director of the Business Growth Fund, has millions to invest in local businesses
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HIS year, Paul Oldham and his team will meet more than 120 businesses. If everything goes really well, they might do business with six. It might appear a lot of effort for a small return, but in the private equity world that’s a lot. “We aim to do five or six investments this year,” says Paul. “A typical private equity firm might average zero to two.” Mind you, when each investment can be up to £10 million, you need to make sure you’re backing a winner. Paul is the Bristol-based regional director of the Business Growth Fund, a unique organisation funded by the high street banks but independently run. It was formed in 2011 to provide funding to help British businesses grow and in those first four years it has supported 84 firms with a total of more than £500 million in capital. And the Bristol office has been at
Vital statistics Name: Paul Oldham Age: 51 Born: Manchester - within sight of the Old Trafford floodlights,
which means I’m a proper Manchester United fan First job: First summer job was working in a dispatch depot. First real job was a trainee accountant at Peat Marwick McLintock, now known as KPMG, in Manchester.
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the forefront. “I joined on launch day in May 2011. I’m employee number six and I was the first regional director appointed. The first investment was done from my team too,” says Paul proudly. “We have created from scratch a completely new major investment institution and we are changing the availability of capital to help medium-sized companies grow. “We are helping entrepreneurs to do something which either they couldn’t do without our money or we are helping them to do it quicker. “We are helping them to create the right sort of jobs for the future, better than average paid jobs. “The reason I joined is that it seemed quite exciting. In the investment world, you get well paid but most people working for BGF could earn more elsewhere. However there’s no where else you could do what we do with the firepower and
resources we have got and that’s really rewarding.” The fund’s target market is medium sized businesses with a turnover of £5 million to £100 million, although £10-50 million is what Paul calls the “sweet spot”. “Medium sized companies are the engines of growth,” he says. “If you can support them they will create jobs at a faster rate. “We want to put money where we have got the best growth prospects. These firms have solid platform to grow and have already proven their economic model works but need an injection to make that model bigger.” Suitcase maker Trunki is the best-known Bristol company the fund has backed so far. And Paul is secretly rather pleased to have gone in with the firm that Peter Jones famously said “I’m out” to on Dragons’ Den. “I believe he was asked what his biggest regret on the show was and said ‘that bloody suitcase’ or words to that effect,” says Paul. The fund invested £3.9 million in the business in 2013. Other investments through the Bristol office include Southampton-based employee benefits software provider Benefex (£4.2 million) Cor-
My working day Working day: My time is spread across different locations so my start depends on where I need to get to. It might start at 6am if I’m catching the train the London or I might be in the office here by 8am. I try to get an early start. I spend a third of my time meeting companies who are
sham based cloud IT services provider Skyscape (£4 million) and Sub 10 (£2.5 million), a mobile phone tech firm based in Newton Abbot which has since merged with a larger US firm. The fund has kept its investment in that new firm, however, backing up Paul’s claim they are long-term investors and not just out for quick gains. “We build relationships with entrepreneurs,” explains Paul. “Business owners get financial support but a lot of strategic support as well. We try to strike a balance as a supportive minority shareholder without acting like an owner. “We can give them access to a great
either looking to raise finance or who want to get to know us. Another third talking to the team about issues with going through us or our portfolio of investments and the final third on the admin of the job, running the region and managing the 10 people in the team.
talent network for non-executive directors. Most bosses welcome the idea of a non-exec. Running a company can be a lonely business and there’s no one you can really talk to. For many, this is their biggest job so they welcome the chance to talk to someone who has been there. “The key to our support is they still own the majority of the business and run it day to day. Crucially, they stay in complete control of the decision of when to sell their company.” Although working on a very different scale, shows such as Dragons’ Den, the profile of angel investors and the rise of crowd funding are all playing a part in changing attitudes
towards equity funding, where an investor gets a stake in the business, rather than debt. “The appetite for growth capital has been getting better,” says Paul. “Partly that’s economic progress and partly awareness of what we can do through meeting more people and publicity around our deals. “Businesses had got out of the habit of looking for equity growth capital.” Before the recession banks were lending a lot of money and perhaps business owners just forgot they had other options. “Now even as the banks start to come back to the market, there’s a much better appreciation that equity can be better than debt,” says Paul. “The big challenge for us now having established the business and proved it works is how far can we take it? We don’t know how big the market is.” At the heart of the potential to grow, is the fund’s regional focus. Accessibility really matters,” says Paul. “If you have to go to London for investment, well the further away you are the more off putting that is. And if investors are in London they are more likely to invest there. “Bristol is a great city for us be-
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USINESSES GROW “ We are helping entrepreneurs to do something which either they couldn’t do without our money or we are helping them to do it quicker. We are helping them to create the right sort of jobs for the future, better than average paid jobs.
Renewables
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Eco adviser plans investment after move into city offices ONE of Bristol’s biggest green employers has moved into new offices in the heart of the city’s Temple Quarter Enterprise Zone. The High Sheriff of Bristol, Dr Ros Kennedy, officially opened the new offices of DNV GL – the largest renewables employers in Bristol. The new office, part of the new Linear Park development behind Temple Meads, represents a big vote of confidence in the future of renewables both locally in Bristol, and the UK, by the firm which was formerly Garrad Hassan before it was taken over by the global company. David Walker, chief executive of DNV GL – Energy, said: “In our strategy, we have a clear commitment to renewables going forward. “We understand that transitioning to a low or no carbon economy takes time and we believe we are uniquely positioned to advise industry and decision-makers about this transition. “We have some of the most technically capable people in the business and will also continue to invest heavily in research and innovation, including a hub for research and innovation right here in Bristol.” The High Sheriff added: “In this year when Bristol is European Green Capital it is great to be able to celebrate the presence of DNV GL – the world’s biggest renewable energy consultancy. “I know that DNV GL in its constituent parts has a history measured in centuries whereas
● From left, Prajeev Rasiah; regional manager DNV GL, Garrad Hassan founder Andrew Garrad; Dr Ros Kennedy the High Sherriff of Bristol, and David Walker; CEO of DNV GL the Bristol part – based mostly in Bristol’s own Garrad Hassan – can measure its history only in decades. “However, decades for renewable energy is a long time. We are proud to have had a company in Bristol with such a long history in providing advice around the world.” Garrad Hassan’s founder, Andrew Garrad, is the executive chairman of Bristol 2015, the company set up to run the Bristol European Green Capital programme.
Urban regeneration
My downtime Downtime: I’m a big sports fan, I watch football and play golf (mostly business golf) and tennis. We like to travel and are big festival and concert goers. Film/TV: Favourite film is The Godfather Part II. On TV I’m watching Game of Thrones and House of Cards.
China looks to learn from city transition A DELEGATION from China visited Bristol to learn from the city’s experience regenerating areas such as the Harbourside. The team from the UK-China Industrial Heritage Re-use and Regeneration Forum, made up of 20 Chinese representatives from development companies, government, architects and academia, had a day of exploration and learning around the city. Their purpose was to examine Bristol’s redeveloped post-industrial landscape, learn from the city’s experiences and gather ideas to address issues in China’s urban regeneration. In the wake of China’s growth, many cities have left behind substantial industrial building legacies that are steeped in culture and history. This is creating new interest in sensitively and sustainably modernising these inner city sites . It is hoped the regeneration of them will reinforce a sense of community, make important contributions to the local economy and act as a catalyst for improvements to the wider area. Like China, the UK has a strong industrial heritage and has gained a world-class reputation for redesigning and regenerating post-industrial areas into successful urban quarters. Serena Yao, spokesperson for the China
Design Centre, said: “Bristol is particularly interesting as it is the sister city of Chinese port city Guangzhou. Bristol was once one of the most important industrial cities for manufacturing, and is now one of the most culturally vibrant and innovative cities in the UK. The experience of this transition is a very important lesson for Chinese cities to learn from. “Our delegates are very keen to witness the successful regeneration of Bristol Harbourside, to see how this once busy industrial dock site has been transformed into an attractive, modern development filled with restaurants, bars, shops and hotels to become one of the most attractive sides of the city and still retain its maritime culture.” The day was hosted by Gregg Latchams Solicitors, known as Rui Cheng in China, which has assisted Chinese companies with their inbound investments for the past five years. Director Paul Hardman said: “Given Bristol’s status as European Green Capital 2015 and a leading centre for environmental technology, we are sure Bristol’s knowledge and expertise can be applied to help many of the environmental problems facing China since emerging as an industrial powerhouse.”
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cause it has a very strong advisory base, with all the major firms and banks here. “That means there are good quality experienced people working with businesses. The Bristol office has invested £85 million so far but that should be £100 million pretty soon.” To achieve that, Paul and his team need to make those connections. “My target is to meet 120 businesses this year,” he says. “About 30 will get by first base then 18-20 get to the stage where we are close to agreeing a deal. The conversion rate from there is about one in three. “The reasons they don’t happen might be they change their mind or when we get to the detail and due diligence it doesn’t quite stack up. Trade might have dropped and we had built a deal around £2 million profits but they are not doing that so it might change the valuation of the business. “But many of those that don’t quite happen will come back another year because we have built those relationships. “It’s about saying ‘this is how we can help, come and talk to us when you are ready’.” For the right business, it seems the chequebook is open.
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Wednesday, May 6, 2015
Property Matters |
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BRICKS AND MORTARBOARDS MARCH
A wave of conversions of offices into student accommodation has changed the face of Bristol’s city centre Gavin Thompson reports on how and if the trend will continue
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HE students are on the march. Not the mass demonstrations of years gone by, wielding placards, wearing charity shops clothes and hoping their unwashed odour will be enough to break the system. But some fear a 21st century territorial grab by students could be more dangerous for business than such street protests ever were. For now it is their wi-fi enabled, en-suite apartments in prime city centre locations which have business on the retreat with the rise and rise of the student accommodation market. Student blocks have sprung up around Bristol and continue to do so, with the latest scheme approved an 11-storey development called The Printworks on the site of the former press hall of this newspaper. It’s a booming industry and one which the city has pioneered, with Bristol-based Unite leading the way. Paul Williams, above, head of agency at commercial property specialist Bruton Knowles in Bristol, says it has dramatically altered the balance of office space available. “With four top universities within a 20-mile radius, the impact on Bristol and Bath is far more pronounced than in many comparable urban conurbations,” said Paul. “The level of demand we are seeing is certainly skewing development patterns and impacting on the commercial landscape, transforming traditional commercial property locations, function and usage.” Paul thinks the popularity of converting existing commercial space or building on traditionally commercial sites shows little sign of abating. “Bristol’s office market is the fastest growing of any big city with take-up hitting levels not seen since 2007,” he said. “Dozens of offices in the city are being converted – on top of the dozens of schemes already approved.” A brace of offices in Colston Street have been converted recently and now the trend is spreading to neighbouring Bath too, where plans have
been submitted for the landmark Labour Exchange building. “Businesses in Bath are also being squeezed by fast increasing demand – much of it from the student sector – as sites traditionally used by small artisan employers are being snapped up wherever you look,” said Paul. He said while Bristol still had the space to absorb this demand without compromising opportunity in other sectors, commercial land supply in Bath was being snapped up at an ever increasing rate. Among the new sites earmarked for student housing is the Hartwells garage site at Newbridge and the old Twerton Mill site on the Lower Bristol Road in Bath. Paul said: “Although Bath is thriving and continues to pull in the crowds, many of the traditional artisan-type enterprises are finding it hard to maintain a foothold as increasing amounts of commercial property are converted to student accommodation.” He said the small businesses and artisan enterprises which couldn’t find a spot in the city were having to look further afield – for instance at the once struggling commercial estates on Bristol’s southern fringe. “Up and coming locations such as the Temple Meads Enterprise Zone, Temple Studios, Paintworks, Bath Road Studios and the Bottle Yard are triggering something of a renaissance for south Bristol as a commercial property hotspot,” said Paul. “The area has always boasted a wealth of commercial space and this is once again attracting smaller, artisan-type businesses – some of which have moved in after becoming marginalised by the fast changing commercial scene down the A4.” Paul concluded: “Although it helped keep our construction sector ticking over during the downturn, the continual conversion (to student accommodation) of under-utilised sites really has the potential to change the commercial property landscape in the Greater Bristol area.” That’s because the student property market appeals to investors, ac-
New generation graduating from suburbs to plush city centre flats Case study ● MOULD on the walls, rats in the garden and barely enough room to swing an extortionate deposit cheque... Cliches about the typical student property abound, but are the class of 2015 becoming more discerning in what they’re looking for in accommodation? For Yaqi Fu, who came from China to study for a masters in finance and investment at Bristol University, it was all about location. She lives in Deans Court halls on St George’s Road, a block of flats for postgraduates charging £128/week for a single en suite. Yaqi said: “When picking where I lived from abroad the most important thing was that it was in the centre of the city. “My accommodation was very central, it was close to Park Street. Cost was also a factor but it was worth paying more to live closer to town. “Deans Court was a nice place to live. I knew other people studying in England but I didn’t mind going
cording to Gordon Isgrove, left, senior director, commercial property consultancy Bilfinger GVA. “Student accommodation continues to be a very attractive class of investment,” he said. “This helps to drive demand by developers and institutional investors to develop new accommodation blocks. “Bristol is one of the key markets for this with two fantastic and large universities. Both Bristol University and the University of the West of England continue to develop and improve their educational offer and their facilities in order to attract students, competing with other universities across the country and the world. “Bristol is also highly rated as a location for students having recently been awarded the accolade of best ‘City Life’ by Whatuni Student Choice Awards.” Gordon says that today, high stand-
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somewhere I didn’t know anyone. It’s fun to meet and live with new people.” Third-year psychology student at UWE Emma Knight agreed that location was crucial. She said: “You want to be able to get to uni easily, but still have stuff
My accommodation “was very central, it was close to Park Street. Cost was also a factor but it was worth paying more to live closer to town.
Yaqi Fu
going on around you and shops that are easy to get to. But you have to factor in price of course. “Room sizing was important as you don’t want to leave one person with a tiny room. We wanted to make sure our house was clean
ards are key in the student market. “The quality of student accommodation has become increasingly important for students and parents, particularly overseas students,” he said. “There has been a move away from
“ Student
accommodation continues to be a very attractive class of investment. This helps to drive demand by developers and institutional investors to develop new accommodation blocks.
enquiries@brutonknowles.co.uk brutonknowles.co.uk
and not damp this year as my last house had a lot of problems with that last year.” Hannah Warn, who also studies psychology at UWE, reflects perhaps a more recent trend as students face up to the cost of tuition fees. For her, the freedom of a student house didn’t make the cost worth it. She said: “I’m from Bristol and I quickly decided that the only feasible option for me while a student was to live at home. “The main reason was the sheer cost of living in halls. On top of knowing that you have to pay back tuition fees later on in life, right when you sign up you encounter the issue of money for living costs and housing. “There’s enough stress in studying and I don’t need money stress on top of that. “Another benefit of living at home is the comfort and luxury compared to that of student halls. “I’ve visited my friends in their halls and some are disgusting! Messy, dirty, cramped and smelly.” By Jenni Reid
the traditional, multi-occupied student house in the suburbs towards new-build schemes. “These schemes help with regenerating parts of the city that are in decline providing a viable alternative use and helping to provide activity and vitality that will support local retailers and pubs and bars.” Gordon agrees that the conversions of older stock is reducing supply in the office market but he doesn’t think the trend will go on unchecked. “This in turn will put pressure on office rents rising,” said Gordon. “At the same time however, there has been a significant improvement in the number of lettings in the last 12 months on the back of a stronger and growing economy. “The result is that economics will swing back in favour of office schemes on certain properties rather than for student or residential, although as always, it will depend upon
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Wednesday, May 6, 2015
Expert eye
In association with
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OF OUR CITY’S STUDENTS ● Students are no longer happy to be renting a dingy house in the suburbs. They want wi-fi enabled, en-suite apartments in prime city centre locations
the location.” Daniel Halstead, real estate partner at Bristol-based solicitors TLT, however, thinks there plenty of life in the student market yet. “Student accommodation is still a vibrant market,” he said. “Bristol is seeing a continued flurry of activity, changing the dynamics of the city centre itself. The former business centre has gravitated towards the Temple Quarter leaving in its wake a supply of redundant office stock. “Student accommodation developers and investors alike have moved in to this area, breathing new life into these old properties. “Companies such as Unite, Urban Creation, Vita, Fusion Students and Watkins Jones are all currently active in the city. “Utilising the favourable planning regime through the extension of permitted development rights or
Property of the Week 0117 287 2101
brutonknowles.co.uk
To Let - 1 York Court, Bristol BS2 8QF • Refurbished offices • 760 - 2,526 sq ft (70.7 - 234.7 sq m) • Open plan • On-site parking • New leases available on flexible terms
Contact: paul.williams@brutonknowles.co.uk BK code: 2747
0117 287 2101
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minimising community infrastructure levy liabilities through previous lawful occupation rules, the old commercial hub of the city is now dominated by a lively student community. “This has created a new consumer base driving a demand for ground floor leisure operators within the city centre. “The removal of the cap on student numbers means that the city’s student population will continue to increase. “In a situation where demand for purpose-built student accommodation already outstrips supply, the prospects for growth remain strong.” So the pace of change may slow but the trend for more and more students living in our city centre looks set to continue, perhaps pushing offices further out. The students march on.
Election? What election? It’s business as usual
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HERE has been a great deal of talk about businesses going into some sort of limited lockdown for the duration of the campaign, putting off the big deals until they get a better idea of the political landscape post May 7. While it would be foolish to ignore the implications of a radical change in direction, the message we are picking up from our business clients across the South West is one of robust optimism rather than pre- and post-election jitters. In fact, it’s business as usual. What we have been seeing over the last six months is that businesses are making decisions to press ahead with their expansion plans. Many firms are confident in the underlying strength of the economy, their markets and their business plans. They do not see the election making that much difference. There is a weight of money out there and banks are more interested in lending, although lending criteria have quite rightly been tightened up. Many business people we meet are wondering just how different the next government might be. After all, they have dealt with single party governments and have now gotten used to the concept of a coalition, which by its very nature is configured for compromise rather than confrontation. All good stuff as far as business is concerned. Certainly we are seeing valuation activity returning to pre-recession levels, and the sheer speed with which new deals are delivered suggests an eagerness to get on with things which we haven’t seen for some time. The continuing enthusiasm for refurbishing and converting older commercial property stock to new roles underlines this bullishness. We believe it is significant that one of the final acts of the last government was to extend Permitted Development Rights for home extensions, redundant rural outbuildings and commercial industrial buildings from May 2016 to 2019. Although the previous government stopped short of extending PDR for the slightly more controversial office to residential conversions, the underlying message is clearly positive. In fact it’s likely the next government will extend PDR across the commercial property sector and this positive stance is likely to be maintained whatever colour Government is voted in.
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Partner Bruton Knowles 0117 287 2101 paul.matthews@ brutonknowles.co.uk
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Wednesday, May 6, 2015
In pictures The Lord Mayor’s Charity Gala Dinner
● Lord Mayor Alastair Watson and Lady Mayoress Sarah Watson arrive at the Bristol Marriott Royal Hotel in a stylish Bristol car for the charity dinner
● Volunteer committee member and Auction King Jamie Breese with guests
● Gold Sponsors ‘Millionaires’
Gala dinner raises cash for children’s appeal Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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RISTOL’S business community raised much-needed funds for disadvantaged children and enjoyed a great night at The Lord Mayor’s Charity Gala Dinner. The event, supported by the Bristol Post, was held at the Bristol Marriott Royal Hotel on College Green. The Lord Mayor of Bristol’s Children Appeal will release the final figure raised after remaining payments for auction lots are made but it will be well into the thousands. In addition to a drinks reception and three-course dinner, highlights included top entertainment and money-can’t-buy experiences for the auction. One of the most sought-after experiences was the chance to step into Mike Norton’s shoes to become Editor for the Day at the Bristol Post, which raised £1,000 with the winning bid from Taylor Wimpey managing director Keith Simmons. Other high-value auction bids, which totalled £12,220, included
£2,200 for two tickets for the Rugby World Cup Final. Other money was raised through a raffle, which was also boosted by volunteers from Barclays and the company’s charity top-up scheme. The event was backed by the city’s business community including platinum sponsor Guy Salmon Land Rover Bristol and Gold Sponsors ‘Millionaires’ Mentor’ Bev James and legal firm Ashfords LLP. Many businesses donated auction and raffle prizes and provided their services free of charge or at a greatly reduced rate. Entertainment included Bristol’s Mayoral Ambassador of Music, saxophonist James Morton, and vocalist Celestine, performance poet Miles Chambers, plus Bravo Singing Waiters and magician Adrian Pritchard.
Volunteer event committee member Jamie Breese, director of Business Showcase South West, was the gala dinner’s auctioneer. Other volunteer support included Barclays Bank staff members and students from the University of the West of England. The Lord Mayor of Bristol Councillor Alastair Watson, who is the charity’s patron, said: “I am overwhelmed by the generosity and goodwill shown by the city’s business community, and especially by volunteer Jamie Breese who donated his time, contacts and energy to help organise this charity gala dinner.” Chairman for The Lord Mayor of Bristol’s Children Appeal, Bruce Simmonds, said: “It was a truly wonderful evening. Through their generosity our guests have helped this charity give disadvantaged children
● Chairman of the Lord Mayor of Bristol’s Children Appeal Bruce Simmonds Xpj{|ylzB qvujyhpn6jv6|r in Bristol a Christmas they can enjoy. “We are also hoping some of the companies will provide longer-term support and choose The Lord Mayor of Bristol’s Children Appeal as their Charity of the Year.” Jamie added: “Not one auction lot went unsold. All 240 guests were up dancing, singing and celebrating. And just before the auction began lots were still being donated, including a lot from platinum sponsor Guy Sal-
● Performance poet Miles Chambers - also Ujima Radio presenter wows the audience mon Land Rover Bristol, with two Rugby World Cup Final tickets, which achieved a remarkable hammer price of £2,200.” The Lord Mayor of Bristol’s Children Appeal raises £66,000 each year to give 1,650 children a £20 voucher for food and a £20 voucher for clothing or a gift at Christmas.
● For more details of the charity please go to www.lordmayorof bristolappeal.co.uk.
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Opinion [{lwolu Nlhy The Phonebox Millionaire Fear Group
Reaching more buyers through new tech
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Mentor’ business woman and author Bev James is pictured with her guests
● Saxophonist and Mayoral Ambassador of Music for Bristol James Morton
● Fiona Jordan, of UWE, and Bruce Simmonds
● Magician Adrian Pritchard entertains at a table watched by BBC Radio Bristol Presenter Steve Le Fevre
● The Lord Mayor Cllr Alastair Watson and the Lady Mayoress Sarah Watson are pictured with, from left Reuben Marechal, Sebastian Morgan-Giles and Simon Crane, of Platinum Sponsor Guy Salmon Land Rover Bristol
● Singer Celestine enchants guest with her stunning vocals
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● The Bravo Singing Waiters entertain guests
HE Lord Mayor’s annual bash at The Marriott on College Green is always an uplifting experience, but this year’s dinner was extra special. Whether it was a therapeutic release from all the pre-election news or something else I don’t know, but everyone seemed to have a spring in their step, and were focused on the cause of raising money for disadvantaged children across Bristol. We live in an affluent society which has gained much from the enterprise culture which Bristol as a city is at the heart of. Bristol and its population has always been a philanthropic city, in that, from Georgian times at least, its wealthier citizens have been willing to put their hands in their pockets for good causes. This year’s auction at The Lord Mayors Charity Gala Dinner was fronted by an enthusiastic Jamie Breese, the star of daytime reality TV programme Auction Kings. We were also treated to a profound delivery of his poem Bristol by brilliant local poet Miles Chambers. Enterprise is the oil on the wheels of society. Without the thousands of family businesses supporting the Bristol economy there would be less jobs, less money, and less charity to go round. Bristol and the Western Powerhouse region is an amazing place in which to live and work. There are superb national railway connections from Brunel’s famous Temple Meads railway station, a modern airport with increasing flight connections, available land for both residential and commercial development and a city council which recognises the need for enterprise and why supporting its businesses is vital for continued growth. Being Europe’s Green Capital has raised the city’s profile on the international stage, and everyone concerned with working toward getting this award for Bristol, including, city councillors, MPs from all parties, and of course our own red-trousered Mayor, George Ferguson, together with our ceremonial Lord Mayor, Councillor Alastair Watson, who all worked tirelessly to gain this recognition for our city, should pat themselves on the back. A great achievement! Regional newspapers have come under serious commercial competition from the web and digital publications. Many of us now read our daily news on iPads, tablets or smart phones, often sitting in our favourite cafe sipping a cappuccino! This newspaper, as have other successful publications, has embraced digital technology, and is reaching wider audiences because of it. I often read my Bristol Post or Western Daily when in far flung places – something which was impossible only a few years ago. The reach of regional publications has extended to the edges of the world! With this huge readership potential comes added responsibility to its readers and of course the opportunity to promote investment into its own region. The Bristol Post has long had a tradition of supporting its readership and the many businesses which advertise in the paper. Advertisers now get much better value as adverts can reach buyers never possible before the digital revolution.
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The back page
Wednesday, May 6, 2015
Your digest of the week in business
People ● The deputy manager at one of Bristol’s newest hotels has been appointed. Nikola Garnev will join general manager Imran Ali and sales manager Kate Hemmings as they work towards the opening of the new Hampton by Hilton hotel in July. Located on the corner of Bond Street and York Street, the new hotel is a conversion of what was York House, a 1960s office block. Managed by Focus Hotels Management Ltd, once complete it will include 186 bedrooms right in the heart of the city and follows an increase in demand for hotel rooms in Bristol as the city attracts more business and tourism. Nikola said: “Bristol has a fast-growing reputation as a city that is not only a great place to visit but is becoming a serious business player. “It’s great to be part of a project from the very beginning.” ● Law firm Burges Salmon has appointed six new partners, half of whom have progressed right through from trainee to partner with the firm. This brings the total number of partners to 81 and reflects the firm’s growth across a number of sectors. Lloyd James becomes a partner in the construction and engineering. He advises funders, developers and contractors across the sector, with particular emphasis on energy and infrastructure. Jonathan Eves becomes a partner in the corporate finance group. He joined as a trainee in 2004. New partner Richard Pettit, who also joined as a trainee in the same year, is a member of the pensions team. Matthew Sims becomes a partner in the real estate team. James Sutherland is a member of the firm’s disputes and litigation practice, specialising in real estate disputes. Finally Nathan Curtis is an energy projects specialist and joins the firm’s energy and utilities sector group as a partner from Clifford Chance. Managing partner Peter Morris said: “Lloyd, Jonny, Richard, Matt and James are all exceptionally talented and will have an important
we have the best skills to offer clients exceptional service.”
Places
● Law firm Burges Salmon’s managing partner Peter Morris, centre, with new partners, from left, Nathan Curtis, Lloyd James, Matthew Sims, James Sutherland, Richard Pettit and Jonathan Eves
● Steve Underwood and Caroline Garnett, of Alexander Daniels
● Richard Saunders, of Sanderson Weatherall, by Wildwood in Clifton
role to play in the ongoing growth of Burges Salmon across a number of the firm’s key practice areas and industry sectors, by continuing to provide an excellent service to our clients. “We are also pleased to welcome Nathan who will provide a high level of sector expertise.”
learners. “Apprenticeships are now at the top of the Government’s agenda and there is a severe skills shortage, particularly in STEM subjects, which are also impacted by a shortage of lecturers and assessors. This is why AD Education works in partnership with colleges and training providers to support resource gaps.”
● Recruitment group Alexander Daniels has bolstered its education division with the appointment of two new team members. Steve Underwood will head up its education team as divisional manager. He has more than 15 years in the industry, latterly as head of recruitment at a large FE college. He has been joined by Caroline Garnett who was as regional manager for a national education agency. Steve said: “Having managed recruitment onsite with a college environment, Caroline and I understand the ever changing demands on teaching and learning staff at all levels and the importance this has on the impact of the
● Law firm Foot Anstey has promoted four of its Bristol-based team to become senior associates. Alexandra Cross and Sarah Hale, who both work in the commercial department, Catherine Haugh, who specialises in dispute resolution, and Islamic finance expert Zahir Nayani have all been promoted. Managing Partner John Westwell said: “We have made another round of significant investment for the future of Foot Anstey with the appointment of these associates, who have each earned their position by merit and hard work. “We consistently make efforts to ensure our talent is recognised and
● Emerging London restaurant brand Wildwood has opened in Clifton Village, in a letting secured by Sanderson Weatherall on behalf of city-based landlords Fivemews Properties. Wildwood opened a 100-cover unit after taking a 25-year lease on premises in Regent Street, a Grade II listed building, which had been empty since October 2012. Richard Saunders, of Sanderson Weatherall, said: “Wildwood’s decision to open in Clifton demonstrates the ongoing appeal of ‘the Village’ as a restaurant location. “This was also confirmed by the news that South East-based Thai restaurant operation Giggling Squid will be opening nearby in the former Strada unit on Princess Victoria Street. “It is no surprise that Wildwood is the latest example of a significant chain to have its first South West opening in Bristol. There are high levels of pent-up demand for quality positions in the city, with a number of other national and regional restaurant chains looking at Bristol for expansion in 2015, a trend which looks set to intensify during the course of the year.” ● A double letting at Woodlands Court, below, in Almondsbury has been completed by the Bristol office of property adviser Bilfinger GVA. The new occupiers at the established courtyard office scheme are the College of Naturopathic Medicine and Climate Energy. The former has taken 3,566 sq ft of space, and the latter 2,796 sq ft. Woodlands Court is home to 38,000 sq ft of office space across ten buildings. Bilfinger GVA senior surveyor Alex Riddel said: “Both organisations are relocating to benefit from more space, thanks to recent business growth. Situated adjacent to J16 of the M5, Woodlands Court is a highly convenient business location.” The College of Naturopathic Medicine (CNM) is the a training provider in a range of natural therapies, with colleges across the UK, South Africa and the US.
Business diary Eat Drink Bristol Fashion Sustainability Summit: 150 delegates will come together in the tipis in Queen Square to discuss how the food industry can strive to operate more sustainably and position the city as the UK capital of sustainable catering. Today. Tickets from www.eatdrinkbristolfashion.com. Young Enterprise West of England Area Final: Tomorrow, 3.30-8pm. Eight finalists from West of England schools battle it out to represent the area at the South West final on June 19. To attend, contact Caroline Tarbuck, caroline.tarbuck @y-e.org.uk. Bristol Jobs Fair: 25 employers looking to recruit will be at Colston Hall from 10am to 2pm on Friday. Business Showcase South West: Inspirational speakers, exhibition stands, and networking opportunities all feature. The event is held at Colston Hall in Bristol on May 14 and 15, and is free for pre-booked delegates. Go to www.showcase2015.com for more information including registration, sponsorship and stand enquiries or email info@showcase2015.com. Bristol and Bath Apprenticeship Awards: An evening celebrating the best apprentices in the region, organised by the Bristol Post and Bath Chronicle in association with South Gloucestershire and Stroud College. May 20 at Bristol City Centre Marriott. Tickets at www.bristolpost.co.uk/ apprenticeship. South West Business Launch: Join us to hear about the exciting re-launch of our business news and information platform, SouthWestBusiness. co.uk. Takes place at UWE Frenchay Campus from 6pm on Thursday, May 21. Email sarah. wallbridge@localworld.co.uk to register. Email your business events to gavin.thompson@localworld. co.uk. Events are sometimes cancelled without us being notified so please check with organisers before travelling.
Opinion
Can the market really stomach more property price rises?
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S we edge closer to one of the most hotly contested General Elections in recent history, sustainability has all but slipped off the radar. However, the issue of sustainability is never far from news headlines. At the end of April 2015, the government was ordered to take action on air pollution by the end of the year. Although sustainability may be taking a back seat in this election, the next government won’t be able to ignore it. The UK has many looming deadlines when it comes to carbon emissions. The country is committed to producing 15 per cent of its energy from renewable sources by 2020
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Chartered Architectural Technologist Sanderson Weatherall
(which currently stands at 4.3 per cent) and is aiming to reduce the UK’s greenhouse gas emissions by at least 80 per cent by 2050. On top of this, new regulations due to be introduced in 2018 mean that owners of the least energy efficient buildings in the UK will face restrictions on their ability to lease their property, affecting approximately 680,000 commercial properties in England and Wales. Whilst it’s widely accepted that en-
ergy efficiency measures represent the most cost-effective means of cutting carbon emissions, there is concern that measures such as the Green Deal and green building standards face disruption in the next parliament. This election is creating uncertainty about the implementation of many mandated issues, with many people ‘in the dark’ as to how they will be implemented and what the costs will be. Uncertainty will also affect development, investment and values. The elephant in the room is to what degree investors care enough about sustainability. Green buildings may be worth more but the question is whether or
not they’re worth proportionately more than the cost of achieving ‘green’ status in the first place relative to end market values. Is it responsible or indeed ethical for political parties to indicate to the electorate that they intend to build around one million new homes by 2020, without also acknowledging the fact that construction costs could rise above real term increases in market value, leading to ever reducing development yields? To offset this, construction costs need to be reduced through investment in new technologies and processes, the value of properties needs to rise or the government must heavily subsidise new construction.
Whatever the solution, the tightening of migrant worker policies and the chronic undersupply of homegrown tradesmen mean costs are only likely to rise. And this raises one big question: can the market stomach increasing property prices? In this election, we should be asking who can set out a truly long term vision, not just for short term gains but addressing the long term pain. One thing is for certain – whoever forms the next government will need to move quickly to deliver more policy certainty in terms of sustainability, as the pressure to cut carbon emissions is only set to grow in the future and the legislation will become even more stringent.