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KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees
Banks get beating in business survey BANKS have to work hard to restore customer confidence after the credit crunch, suggests a survey by three leading professional advisory firms in Huddersfield. Research by law firm Baxter Caulfield, Robertson Baxter Financial Services Ltd and chartered accountants Wheawill & Sudworth, found “considerable dissatisfaction” with the levels of customer service provided by banks to the region’s businesses. More than a third of local firms said they were disillusioned with the service they receive from their bank, according to the research. Some 34% rated their bank’s service as “poor” or “below expectations” while fewer than half felt that their bank had helped them through a period of difficulty. Some 56% believed the recession had been used as an excuse to increase bank charges, while 61% said their bank’s lending rates were too high compared to the low base rate. Fewer than 10% of those polled said
their bank had promoted the government’s Enterprise Finance Guarantee Scheme – designed to support lending for business growth. Some 43% felt that their bank had scrutinised their business more since the credit crunch – with 40% being asked for greater security to support their borrowing and 46% believing that the bank was taking longer to make lending decisions. Stephen Newman, senior partner at B a x t e r C a u l f i e l d S o l i c i t o r s, said: “Customer care should be a pri- ■ BANK STATEMENT: Stephen Newman (left), of Baxter Caulfield; David ority at any time, let alone during a Butterworth (centre), of Wheawill & Sudworth; and Greg Robertson, of recession in which banks are already Robertson Baxter Financial Services Ltd under scrutiny. “When we evaluated the results of “This shows that four out of five Lending authority had also been centthis research, it seems that few banks people are not receiving top notch ralised with credit teams who did not have succeeded in keeping their cus- service from their banks. In any other know the businesses and their people tomers happy.” walk of life we would not just sit back taking longer to make decisions. Greg Robertson, director of and accept this.” He said: “With all this in mind, it is Robertson Baxter Financial Services, David Butterworth, of Wheawill & not surprising that businesses are not said: “While two-thirds said their Sudworth, said there seemed to have happy with the service they get from bank’s overall service was ‘good’ or been a major reduction in staff num- their bank – but I believe that most of ‘very good’, only 20% of those people bers at local level, leading to delays the blame for this lies centrally, rather went for ‘very good’. and fewer resources in the branch. than with local branches.”
Easilift takes the load for retail supplier A COMPANY providing loading bay equipment has ensured that a key customer is not left hanging around. Easilift Loading Systems Ltd, of Kirkburton, has supplied a double deck scissor lift to allow TIC Retail Accessories Group to load and unload items more efficiently. TIC helps retailers by moving merchandise back through the supply chain – typically high-volume re-usable retail accessories such as
clothes hangers and security tags. TIC pioneered the idea of hanger re-use, which is now being accepted more widely among retailers due to the financial and environmental costs of simply throwing them away. Easilift’s system – including solid steel scissor lift and 6,000kg loading platform – was fitted at TIC’s premises in Sheffield and took under two days to install. Easilift is one of the UK’s foremost
loading bay equipment specialists – and one of the first in its sector to gain SAFEcontractor accreditation – an independent assessment of the health and safety record and competency of contractors. The company, which has its own in-house design team and engineers, has supplied systems to customers including Tesco, Arla Foods, Instore and Nisa-Today. Easilift sales director David Whyatt
said: “We work in close collaboration with all our customers, which enables us to develop an in-depth appreciation of their business, processes and procedures, so we are in an ideal position to develop individually-tailored loading bay solutions. “This approach is reflected in the high levels of customer satisfaction achieved. As a result, 60% of new orders come from existing customers.”
INSIDE Moulding success A COMPANY making items from plastic has been demonstrating its green credentials to potential investors. Crompton Mouldings Ltd took part in an event hosted by CO2Sense Yorkshire to showcase the work of nine firms from the sustainable sector – and encourage investors to provide private equity of £75,000 to £500,000.
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Safe and sound TWO Huddersfield firms are celebrating 15 years in business together. Haulage firm The Pink Link Ltd and Burton Safes marked their partnership as Burton’s managing director Norman Berry retires at the end of this year.
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KIRKLEES BUSINESS NEWS
national
Service sector hit by fall in volumes THE services sector has failed to build on signs of a recovery seen earlier this year – with sales disappointing expectations during the past three months. Both the volume and value of business carried out by firms involved in consumer services, such as hotels, restaurants, travel and leisure, fell during the three months to May, according to a survey by employers’ group the CBI. Just over a third of companies in the sector reported a fall in business volumes, with just 14% seeing a rise, while a balance of 5% of firms reported a drop in the value of business. The fall came despite firms seeing a slight rise in business levels during the previous quarter – and expectations that the increase would continue. The overall profitability of consumer services firms fell to its lowest level since
August last year, with 34% more companies reporting a drop in profitability than those that saw a rise. This was partly driven by a slower-than-expected rise in prices, coupled with a faster-than-expected increase in costs. Business and professional services firms, such as accountants, solicitors and marketers, did not fare much better – with business volumes remaining unchanged during the period, while the value of business rose only slightly, with a balance of 8% of companies reporting an increase. The profitability of firms in the sector has now fallen consistently for two years. The prices firms charged for their services continued to drop, although they did so at the slowest rate since November, 2008.
Jongleurs spreading the laughs COMEDY group Jongleurs has announced plans to launch six new clubs this year following a £2m investment. The clubs, which will be opened in Nottingham, Cambridge, Liverpool, Manchester, Sheffield and Newcastle, are part of a joint venture with the UK’s largest private bar and club operator Novus Leisure. The move means there will be 11 Jongleurs clubs around the UK by the end of 2010, with plans for further rollouts in 2011. The latest expansion plans follow the opening of three new clubs already this year, including a flagship club at Sway, which is owned by Novus Leisure, in Covent Garden.
T h e g ro u p re p o r t e d s t ro n g demand for its new comedy package, Jongleurs Posh, at its Sway venue, which offers a three course dinner, table service and four stand-up acts for £40. John Davy, Jongleurs co-owner, said: “This fresh investment will help bring our unique offering to even more customers and new audiences. “The appetite for a complete comedy and entertainment experience is stronger than ever and we are experiencing unprecedented demand from corporate and larger group bookings in particular who are looking for an entertainment one-stop-shop.”
Ian McCafferty, CBI chief economic adviser, said: “These figures for the UK service sector show there is some way to go before the recovery gets up to speed, and firms selling services to the consumer are finding it tougher than those in business and professional services. “Consumers are still being cautious about spending on discretionary activities like eating out in restaurants or bars, and leisure and personal services, such as haircuts or beauty. But it is interesting to see that travel services firms are doing better, which suggests people still want to take a well-earned break. “Firms selling business and professional services are feeling slightly more optimistic than three months ago, but are still finding it hard to make a profit as prices continue to decrease and costs accelerate.”
summer and the prospect of people making more use of their conservatories presented a “great opportunity” for the fledgling business. At present, Mr Patrice and his sons all have full-time jobs and work on the conservatory cleaning business mainly at weekends. But the long-term goal is to develop a business for Christopher, 25, and Nicholas, 23, to run as their own business full-time. Said Mr Patrice: “It all started when we wanted to get our own conservatory cleaned and realised there was nobody offering the service. “It’s not like washing the windows. Cleaning a conservatory properly – including the guttering, pipework and decorative features – can take four hours. And every conservatory is different.”
Beating the odds A SEARCH to find inspirational men and women who have beaten the odds to succeed in business has been launched with the fifth annual Barclays Trading Places Awards. Enterprising individuals who have triumphed over personal adversity to turn their business dreams into a reality have until Friday, July 16, to tell the judges their story – and why they should win a share of the £50,000 prize package. This year’s awards will also invite people to nominate someone they know who deserves national recognition for overcoming some of life’s
■ CAUTIOUS: CBI chief economist Ian McCafferty
UK firms prove attractive ALMOST half of all UK-listed companies facing takeover bids during the past two years have been targeted by foreign firms, said a survey. About 44% of all merger and acquisition deals targeting UK-listed companies have been backed by overseas bidders, according to City law firm Wedlake Bell. The proportion rose to 53% in the first quarter of this year – nearly double the 27% of deals that involved foreign backers in the first three months of 2008. Tim Bird, partner and head of the corporate team at Wedlake Bell, said: “There is a very definite pattern emerging here, which is that more and more foreign companies see the UK
as a good place to invest – and the quickest way is to acquire companies. “The return to growth of the UK economy is boosting the confidence of overseas investors who clearly view the long term prospects of the UK economy to be very good.” The group said foreign companies were taking advantage of the favourable bid conditions in the UK, such as the weak pound and the robust system of regulation. The group said the US remained the main source of overseas bid for UK-listed firms, accounting for 30% of bids in the past two years. But there was also strong interest from bidders in China and India.
Conservatory cleaning firm is a family affair! A FAMILY business is making a clear bid for success – cleaning domestic conservatories. Deighton man Roger Patrice and his sons Christopher and Nicholas set up CNR Conservatory Cleaning in 2007 with advice and support from Business Link Yorkshire. Now the company is gearing up for expansion having weathered the recession. Mr Patrice: “Last year was a pretty tough time, but it is picking up now. We are getting a lot of repeat custom, which is very encouraging and we are looking to expand to cover not just Kirklees but other parts of West Yorkshire. “As well as conservatories, we are looking to offer cleaning services for patios, block paving and drives.” Mr Patrice said forecasts for a hot
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■ WASHING DAY: Roger Patrice (centre) with sons Nick (left) and Chris, who have impressed Business Link Yorkshire with their fledgling business
greatest challenges to run their own business. Steve Cooper (pictured, above), chairman of the judging panel and managing director of Barclays Business, said: “Trading Places is a celebration of men and women who, despite great personal challenges, have taken steps to establish a sustainable business and in doing so changed the direction of their lives for the better. “We are delighted to have this opportunity to recognise their achievements while highlighting an increasingly important sector of the business community – whether they are sole traders or small businesses that together underpin our economy.” Everyone entering the awards will have access to a range of business support packages featuring specialist advice and expert mentoring. The overall winner will get a cheque for £10,000 with the runner-up receiving £5,000. The awards will be made at a black tie gala dinner at The Savoy in London on Tuesday, November 30. Entry forms are available in Barclays branches, by calling 020 86732020 or by visiting www.barclays.co.uk /tradingplaces
KIRKLEES BUSINESS NEWS
profile
Jamie Milner & Matt Turner
Capital plan is a real winner CONQUERING London’s lively restaurant scene has taken Matt Turner and Jamie Milner just three years. That’s not bad going for two guys who hit on the idea for their successful business venture while sharing a few pints at a bar in Huddersfield. Matt, who hails from Lancashire’s Ribble Valley, was running 70 The Retreat at John William Street with his wife Julia. A graduate in politics at Leeds University with a masters degree in international marketing, Matt had set up the business after working as a broker in Leeds and Sheffield. Leeds-born Jamie moved to Huddersfield when he was eight and attended Shelley High School before working firstly as a pizza delivery man and later as a car salesman for Dixon Renault at Leeds Road and Harratts Volvo before joining an online auction site. Says Jamie: “I used to drink in Matt’s bar and we just got talking. We both wanted to get out of what we were doing and we came up with the idea for tastelondon. Matt adds: “I think we had a gut feeling that it was going to work. The business plan just seemed right. “We raised some money from the Small Firms Loan Guarantee Fund and Yorkshire Forward. “I think we drew up the cashflow forecast on the back of a beermat – although we printed it up properly for our funding application!” The business was launched in March, 2006. Despite their confidence in the concept, Matt and Jamie realised they were making a huge commitment. ““We re-mortgaged our houses and sold our cars,” says Matt. “We didn’t pay ourselves any wages for six months – so it had to work. “Four years down the line, we have 25 people working for us and we are set to expand further. “We are pleased by how far we have come, but we count our blessings and we know we have to
back and think that now we’ve made it.” Tastelondon is a diners’ club with a difference. It provides customers with a discount card offering up to 50% off meals in more than 1,500 bars and restaurants in return for an annual fee. Restaurants don’t pay to be part of the network, they simply offer tastelondon customers a discount. The business model has been phonemically successful. Matt and Jamie’s company, Taste Marketing Ltd, is now on course for turnover of £3m this year and tastelondon has 100,000 members. Says Jamie: “The concept was completely new for London, although it was adapted from a large US company called The Entertainment Book. “Tastelondon was marketed as a lifestyle club rather than a discount scheme, which would have given the impression of being ‘down-market’. “We knew people did not want to be seen in smart London restaurants fumbling for vouchers they’d cut out of the paper, so we
■ WINNING RECIPE: Jamie Milner (left) and Matt Turner, of Taste Marketing Ltd, have taken the capital by storm
adopted a diner’s card system. “A lot of people raised their eyebrows when we said we would be running it in London – but from Huddersfield.” “In 2007, we had about 350 restaurants on the books. Now we have 1,700. Our target is to recruit another 3,500. Restaurant chains already signed up for tastelondon range from Caffé Uno, Grand Union Bar and Grill, The Ivory Lounge and Jongleurs Comedy Club to PizzaExpress, Prezzo and Tiger Tiger. “In London, there is a tastelondon restaurant on every street,” says Matt. “In some streets we have two or three. “We chose London because everyone eats out there. If you have a one-bedroom flat, you are going to eat out a lot. “London was the hardest market to crack, but it is also the most lucrative. There are 8m people in London and 8m in the Home Counties – that’s 16m within a 50-mile radius of the capital. Tastelondon markets its offers through media based in the capital, including Time Out and Metro. Matt and Jamie also attend major exhibitions such as the Good Food Show and the Ideal Homes Show. Now the directors are re-branding tastelondon as tastecard – signalling an expansion of the concept which will take them into other cities, including Leeds and their hometown of Huddersfield. It will also mean recruiting more staff at its 3,000sq ft premises in Viaduct Street to join its existing teams of tele-marketers and customer service personnel. The company moved to Viaduct Street just a few months ago – thinking they would have plenty of space. While the unit under the railway arches is light and airy, it is already filling up with staff. The firm also has two sales staff permanently based in London. “We go to London about once every two months,” says Jamie. “Some clients prefer face-to-face meetings to communicating by phone or email. “Being in Huddersfield has its advantages and disadvantages. “We get invited to lots of VIPs
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events – such as restaurant openings – which we have to turn down because of the distances we would have to travel.” In truth, running Taste Marketing Ltd leaves little time for socialising in Huddersfield, let alone the great metropolis! Jamie finds time to ferry his two children to riding lessons and swimming sessions while Matt plays football for Heywoods Irish Centre. Otherwise, they remain hands-on bosses. Expansion of the business will mean devoting more time to strategic planning, however. “We have assembled a good team,” said Matt. “We promote from within and as a marketing company we know our success is down to the quality of the people who work for us.” And the business partners reckon the concept is here to stay. “People will always eat out and people will always want to save money,” says Jamie. “As a result, we did not see too much of an impact from the recession.”
HENRYK ZIENTEK
Roles: Joint managing directors First job: Washing up in my local restaurant (Matt). Pizza delivery driver for Chini Pizza in Skelmanthorpe (Jamie) Best thing about job: Building a business from scratch and watching tastelondon grow from nothing into a well-recognised and well-respected brand Worst thing about job: The amount of tax we have to pay. We seem to get punished for being successful! Also, it’s often hard to “switch off” after work Business tip: Always follow your gut instinct and focus on what you think will work. Keep things simple and just do it. Move quickly and don’t over-plan
Taste Marketing Ltd Work: Diners’ club Site: Viaduct Street, Huddersfield Employees: 25 Phone: 0800 5677241 Email: enquiries@ tastecard.co.uk Website www.tastecard.co.uk
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KIRKLEES BUSIN
Plastic’s fantastic for moulding firm A BRIGHOUSE firm making items from plastic was among companies providing sustainable products and services to demonstrate “green” technologies to potential investors. Crompton Mouldings Ltd took part in an event showcasing the work of nine firms from the sustainable sector at the Green Technologies Investment Forum in Leeds. The event, which was hosted by CO2Sense Yorkshire and sponsored by Pinsent Masons, was organised to encourage investors to provide private equity of between £75,000 and £500,000 towards businesses in the sustainability sector. Potential investors were members of the Yorkshire Association of Business Angels . They saw pitches from nine companies looking for investment to develop their products and services. These included recycled plastics, biomass, nuclear waste research, electrical propulsion systems, lighting and recycled construction materials. Crompton Mouldings Ltd, based at West Vale Buildings, Wakefield Road, manufactures items such as grit bins, forecourt litter bins, water butts and composters. In March, it was a finalist in the Innovator 10 Awards against competition from firms across the region.
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Barbara Greaves, YABA manager, said: “Feedback from potential investors has been very positive. Over 100 people attended the forum to learn about the opportunities in the green technologies sector in the region. Discussions are now taking place to move project ideas forward.” CO2Sense hosted the event to highlight the value of new environmental products and services that are emerging from this sector, but also increase the level of private sector confidence and investment available to businesses in the sustainability sector in the region. Andrew Hartley, operations director at CO2Sense Yorkshire, said: “Partnerships with organisations such as YABA are crucial to reach key businesses in the Yorkshire and Humber region. “Ideas presented at the event were a fantastic example of how sustainable products and services are a formidable business proposition and I hope that investments will be made. “As a result, the sustainable products sector will flourish and reduce all of our carbon footprints.” CO2Sense Yorkshire is a business support and market development programme funded by Yorkshire Forward and the European Regional Development Fund.
■ PRODUCTS: Tony Douglas, commercial manager of Brighouse firm Crompton Moudings Ltd
Prepare for the worst HE recent fire at a chemT ical works in Huddersfield should act as a
reminder to all companies to consider: “Could it happen to us?” While you may not operate a chemical factory, what do your neighbours do? And what could happen in your area that could disrupt your business? The Linthwaite fire was brought under control by 9.30am in the morning. If the fire had taken place during the day rather than early in the morning, the disruption to local businesses and the surrounding road network could have been even more severe. The site director responded quickly by apologising for the incident to the local residents and neighbours affected by the fire. People were warned to stay indoors and six local schools were closed for a day. It was also stated that production was back at 90% by Tuesday so the business, customers and the jobs of employees could be protected. It appears that the immediate response by the company and the emergency services were effective in protecting life and bringing the fire under control. Reports indicate that the pollution to the river and the wildlife resulting from the fire may lead to some
RISKY BUSINESS Mark Dalton
improvements when the site is repaired. If your business suffers a major event, you should ask the question: What next? when the immediate emergency has been resolved. What will employees do when they try to report for work? What will your clients think when the phones aren’t answered? Is this an opportunity for your competitors? I was involved recently in the annual Business Continuity Management review for my company. Although we already had a BCM strategy in place we still managed to identify further improvements to our plans. Considering the “What next?” question, we have plans in place for the hours and days following an event that would prevent our business operating normally. Our plans include alternative offices, information held off site and pre-prepared messages to send out to clients and suppliers.
I would advise all businesses to be in the same position. When all else fails there is the fall-back position of turning to your insurance. Companies should check if they have business interruption insurance that will cover the costs and business losses when the business cannot operate. However, you can always rely on luck. After all – “it will never happen to us”. Interestingly it was on the same day that I read the press stories and watched an online video of the Huddersfield fire, that I was watching the local TV news. The top story was a gas leak from a factory following vandalism to a gas valve. The surrounding area, residents and businesses were evacuated for three hours. So, where will luck run out next? As Baden Powell said: “Be prepared.”
Mark Dalton is associate director at Wilby Ltd
Creditors get timely warning
CREDITORS have been told to play by the rules – and stop harassing debtors who have formal insolvency procedures under way. Figures from insolvency trade body R3 show that 31% of people in statutory insolvency procedures are still being contacted by creditors. That figure includes people who have filed for bankruptcy and those who are undertaking an individual voluntary arrangement. Charles Brook (pictured), Huddersfield spokesman for R3, said: “It is astounding that individuals continue to be hounded by creditors despite coming under the protection of statutory insolvency procedures. “The decision to file for bankruptcy is a difficult one, but once taken, is meant to stop the endless contact from creditors. “That such a large proportion of bankrupts are not afforded the peace of mind they are entitled to is of grave concern.” And he added: “Either creditors need to ensure their records are up to date or they need to play by the rules.” Mr Brook, a director with corporate recovery firm Begbies Traynor, said R3 wanted a “single gateway” procedure into personal insolvency to stop a situation whereby debtors start off in one procedure only to discover they were poorly advised and better suited to another. “We believe an assured moratorium from the court for up to 28 days would provide a breathing space for debtors to consider every option and enjoy a respite from creditor pressure,” said Mr Brook. “During that period, they would be obliged to seek professional advice before making a decision. “The range of debt solutions is deeply confusing for an individual in potentially the most stressful period of their lives. They should be applauded for taking action to bring resolution to their finances and make a fresh start, not pressured by their creditors once they have acted to deal with their affairs.”
Getting that Friday feeling!
BUSINESS people in Huddersfield town centre are invited to enjoy a drink and a chat. The First Friday Club will meet from 12.30pm to 1.30pm on Friday at The Cotton Factory in King Street. The regular event, which is organised by Krishna Patel, of accountancy firm Revell Ward, aims to enable members of the business community to meet up in a social setting without the usual networking formalities – or pressure to do business.
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Restaurant has winning recipe
A RESTAURATEUR in Huddersfield has cooked up a winner. Barrington Douglas, who owns Discovery Bay Restaurant in Huddersfield, is the latest winner of the Business of the Month Award run by law firm Eaton Smith, the Mid Yorkshire Chamber of Commerce and Business Link Yorkshire. The award was presented to Barrington by Eaton Smith partner Deborah Melluish at a reception also attended by Kirklees mayor Clr Julie Stewart Turner. Barrington has had a passion for cooking since he was 12 – watching his mother cook wonderful Caribbean meals using skills and family recipes passed down from generations. At the age of 19, he began work in the construction industry, saving £20 out of every £100 he earned. After 21 years of saving, he was finally ready to invest into his lifelong dream of opening a Caribbean restaurant. ■ MENU MASTER: Barrington Douglas (third right) and Richard Denis (second right), of After just one month of opening in 2006, Discovery Bay, receive the award from Deborah Melluish (fourth left) and Kirklees mayor Discovery Bay was awarded second place in Clr Julie Stewart Turner (centre) with (from left) Janet Bebb, of Business Link; Jayne Yorkshire’s Best Ethnic Restaurant Awards. Pearson, of Kirklees Economic Development Service; Carl France, of Sanderson Associates; and Kathryn Shuttleworth, of the Mid Yorkshire Chamber of Commerce Barrington went on to win the Yorkshire Black Entrepreneur of the Year 2008 Award, which was presented by former athlete Chris travels, Barrington picked up more than 200 generation, but as a Caribbean restaurant I recipes which he now offers in Discovery Bay am trying to get as many people as possible to Akabusi. indulge in Caribbean cuisine. Barrington was also invited to a – with his own twist of course! Said Barrington: “Winning the Eaton “This will then encourage more people to once-in-a-lifetime trip working alongside Gary Rhodes while he filmed his new series Smith Business of the Month Award means buy produce from Caribbean islands to help the world to me and all the staff at Discovery create a more sustainable economy.” “Rhodes across the Caribbean”. For details of the awards, go to www.eatonThis involved touring eight Caribbean Bay. “As a black entrepreneur, I’m not only smith.co.uk or contact Ian Greenwood on islands from Jamaica to Tobago and cooking with some of the Caribbean’s top chefs. On his trying to be a role model for the younger 01484 821389
Eurozone learning its lessons I
T’S Friday afternoon, the FTSE100 index has just fallen through the 5000 level and the widely watched American Dow Jones index has breached 10,000 to the downside. UK equity markets are now 14% from their highs, having lost their gains for the year and a little more besides in the last four weeks. The “bear” watchers in the media are already on the lookout– ready to trumpet a confirmed sighting of the elusive beast should we fall by 20%. It is time for a little perspective. Were it not for Europe’s fumbling response to its first major test as a single currency, the outlook today would appear far brighter than could have been believed a year ago. According to the International Monetary Fund, global GDP is forecast to grow by 4.2% in 2010 and by a similar amount in 2011. Excluding the financial sector, the 2010 earnings of the widely followed Morgan Stanley World Equity index are projected to be over 90% of previous peak levels. All has looked set for solid self-sustaining growth to resume in the developed world. However, investors have been distracted from this pleasant prospect by the European Sovereign debt “crisis”. Prior to the end of April, no material impact was expected beyond the periphery of Europe. However, in the past couple of weeks
CITY TALK Simon Kaye
several political errors on the part of the Europeans have meant that wider contagion is now inevitable. The question is how much could this be? With Europe and the UK representing around 27% of global GDP, a 1% shortfall in growth here would impact global growth directly by only a quarter of one percent. Admittedly, indirect linkages through trade to other economies may double that impact over time, but the important point is that it would take a severe European recession to derail the strong global recovery – a recession that we could only envisage if the Euro were to fail. In spite of reports that – during the heated debates that finally led to a bail-out package being agreed – President Sarkozy threatened to take France out of the Euro, we do not
think the Euro is in imminent danger of breaking-up. The most important evidence for this is in the magnitude of the bail-out package. Around one trillion dollars of potential support is a large number in itself, but few appreciate that it is a greater ratio of Eurozone GDP than has been lost in impairments in America from the sub-prime mortgage debacle. Why have markets remained unimpressed? Equities were certainly overdue for some profit taking, but much of the blame lies with the ECB’s recently acquired gift for shooting itself in the foot. This has sowed doubt about the practical implementation of the plan. We are optimistic that these fears will prove unfounded, remembering the evolution of the US Troubled Asset Relief Program, which underwent several changes of focus before finally gaining traction. Although markets doubted at the time – the important thing in retrospect was not the design of the plan, but the fact that monetary authorities showed responsiveness, flexibility and commitment to address the issues. The evidence is that the ECB and European politicians have learnt these lessons.
Simon Kaye is divisional director at Rensburg Sheppards Investment Management
Chamber prize money up for grabs KIRKLEES firms have been urged to enter a national awards – and compete for £50,000 worth of cash prizes. The Chamber Awards, run by the British Chambers of Commerce, is in its 150th year and rewards business talent across the UK. President Neville Reyner said: “Every year we help thousands of energised and determined businesses across the nation – all playing a critical role in driving forward the success of the UK economy. “Our awards are a great opportunity for companies to shout about their achievements and gain the sort of recognition that they actually deserve. “We want to hear from enterprising businesses that are finding innovative ways to navigate the current economic climate, building up trade despite the downturn and above all, that are passionate about what they do.” Regional winners in eight categories go through to the national finals – and the chance to collect the Winner of Winners Award for Outstanding Business Achievement with a top prize of £25,000 and runners-up prizes of £15,000 and £10,000. The regional winners will be announced in September. Go to www.chamberawards.co.uk or email awards@chamberawards.co.uk. The closing date for entries is June 25.
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KIRKLEES BUSINESS NEWS
Latest auction realises £5.3m
Winners in the spotlight FORTY-FIVE of Yorkshire’s most impressive building projects went head to head in the 2010 RICS Pro-Yorkshire Awards. The awards were presented at a ceremony staged at Leeds United’s Elland Road stadium. This year’s event attracted a healthy 77 entries, from which the panel of 12 judges shortlisted 45. The winners were announced by TV newsreader Nicholas Owen. Eight category winners included Wakefield’s Navigation Warehouse for building conservation, the Broad Gate development in Leeds for commercial property, the Regional Agricultural Centre in Harrogate for sustainability and The Junction in Goole for community benefit. The Harrogate scheme was also named project of the year. Colin Harrop, head of the judging panel and chairman of the Royal Institution of Chartered Surveyors’ Yorkshire and Humberside regional board, congratulated the winners and paid tribute to all those who took part. He said: “The standard of entries this year has been very high,. “The nominations ranged from small-scale schemes, through to multi-million pound developments.”
A PROPERTY auction has generated proceeds totalling more than £5.3m. Sixty-six out of 90 lots offered were sold at the two-day sale held by Eddisons in Leeds and Manchester. Eddisons reported strong interest in good quality commercial and tenanted residential stock at the event – which provides encouragement for a revival in the wider property market. Tony Webber, of Eddisons, said: “Buyers were attracted to sensibly-priced tenanted residential stock which could be funded without the reliance on external finance. “It is clear these remain a popular investment vehicle for investors looking for medium to longer-term returns. “On the other hand, with difficult lending conditions prevailing, buyers are reluctant to speculate on lower
quality commercial stock.” Among the highlights was a freehold development site in Lincoln, which sold for £295,000 off a guide price of £195,000 plus. The site on Carline Road was offered on the instructions of the joint LPA receivers and has planning consent for residential development. Mr Webber said: “The interest that this lot created suggests development land may be starting to find favour among buyers once again.” A retail property on Abbeydale Road, Sheffield – with four years remaining on a 25-year lease to Pizza Hut (UK) Ltd at an annual passing rent of £12,500 – sold for £169,000. The next Eddisons auction takes place at noon on June 17 at Leeds United Football Club, Elland Road, Leeds.
■ BUYERS: Eddisons auctioneer Tony Webber reported strong interest
Spring Ram offers home to retailer
■ HOME FRONT: Spring Ram Retail Park at Birstall is now home to discount designer furniture retailer Homesense
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A LEADING trader has taken space at Birstall’s Spring Ram Retail Park. Property consultancy Knight Frank advised on the letting of a 11,400sq ft retail unit to Homesense, part of the US-based TJX Group, which also includes TK Maxx. Homesense, which specialises in designer discount home furnishings, is moving into the unit previously leased by bookseller Borders. It has agreed a rental of £32.50 per sq ft on a 15-year lease. Spring Ram Retail Park, off Junction 27 of the M62, was bought by Leeds and London Investment in April last year for £8.1m from NPI, part of the Pearl Group. The retail park’s other occupants include Habitat. Alex Munro, head of commercial agency development at the Leeds office of property consultancy Knight Frank,
advised Leeds and London Investment on the acquisition and the subsequent letting to TK Maxx He said: “This transaction, involving a new tenant at one of the M62’s best-known retail parks, proves that deals can be done in this challenging climate if the product is right. “In this case, the location is one of the best retail warehouse locations in the north of England. The two tenants, Homesense and Habitat are both household retail names and take up 22,000sq ft of prime retail space. “The retail park itself is adjacent to Birstall Shopping Park and Junction 27 Retail Park as well as being close to IKEA. This is a major retail destination and a great move for Homesense.” London-based retail warehouse specialists Morgan Williams advised Homesense.
Building company wins a place in regional finals A HOLMFIRTH building firm has reached the finals of a West Yorkshire-wide competition. A E Haywood & Sons Ltd has been shortlisted in the category for best new dwelling in the West Yorkshire LABC Building Excellence Awards 2010. The company is making its third appearance in the competition, having won the category for best domestic extension in 2007 and being a finalist for the best restoration and conversion category to years ago. The competition is run by the five five West Yorkshire local authority building control officers, who cover Calderdale,
Kirklees, Bradford, Leeds and Wakefield. All finalists receive a certificate and the winners of nine categories each receive a trophy. The finals will take place on June 9 at the Village Hotel and Leisure Club Leeds, Headingley, Leeds. A E Haywood and Sons Ltd was established in 1957 by Albert Edward Haywood. The company is now run by sons David and Michael who employ a team of highly qualified craftsmen. Among its achievements, the company was involved in a 12-month conversion project which was filmed for Channel 4 programme Grand Designs.
Page 6 Positive outlook for rents LACK of supply is pushing up rents across the north and signalling a revival in Yorkshire’s lettings market, it is claimed. A poll by the Royal Institution of Chartered Surveyors showed the net balance of chartered surveyors in the north reporting rising rather than falling rents during April rose to 20% from minus 13% in January. However, surveyors in the region remain cautious about rents continuing to rise – with net balance for future rental expectations falling slightly to 12% in April from 17% in January. Nationally, surveyors in the UK are optimistic that rents will continue to rise with the rental expectations net balance climbing to 36% – the highest figure recorded in the survey’s 11-year history. The RICS said the more positive outlook for rents was partly due to the continued decline in the supply of flats and houses in the market, which had helped gross yields increase in the north for the first time in a year. Demand for property to let remains strong, with 30% more respondents in the UK still seeing it rise than fall – the strongest reading since January, 2009. Houses remain marginally more popular in the north than flats – but the survey said flats were starting re-establish their appeal. RICS Yorkshire and Humber housing spokesman Jon Charters-Reid said: “There is clearly a marked increase in prospective buyers who have moved into rented accommodation with a view to making a chain-free purchase when their ideal property becomes available. “Hopefully, the new government will encourage banks to help buyers more, which will go a long way to further improve the market.”
KIRKLEES BUSINESS NEWS Property team has tall order COMMERCIAL property lawyers in West Yorkshire have completed the acquisition of Manchester’s tallest building for Guernsey-based Braemar Group. Lupton Fawcett helped its long-standing client to buy the Beetham Tower, which houses the Manchester Hilton Hotel, 219 apartments and the Cloud 23 “sky bar”. Braemar has bought the freehold through its Channel Islands-listed Ground Rents Fund. Amanda Peace led Lupton Fawcett’s team of advisers, which also included Charles Jackson and Anna Beaumont. David Coates, director in commercial property at Lupton Fawcett said: “We’re delighted to have assisted our longstanding client, Braemar, to complete this landmark deal, which we feel not only signals its intent for the year ahead, but also points towards the renewed level of interest in the commercial property market in the north of England.”
property
Page 7
Award for Kirklees housing scheme A CONSTRUCTION company has won an award for a scheme to transform a blighted part of Huddersfield. Southdale has completed a hat-trick of accolades by triumphing at both the national Housing Excellence Awards in Manchester and Constructing Excellence in the North East Awards in Newcastle. The Halifax-based firm, which specialises in social and residential housing and the public sector, added to its glittering success at the Yorkshire Property Awards by winning the regeneration scheme of the Year 2010 at the Housing Excellence Awards and the innovation award at Constructing Excellence in the North East Awards. The Housing Excellence award recognised one of Southdale’s most innovative regeneration schemes – transforming the formerly blighted Deighton and Brackenhall areas into a vibrant community of 520 new homes for private sale and 100 properties for housing association rental. The award recognised how Southdale, in partnership with Kirklees Council, delivered the project on time and on budget – and completely regenerated two unpopular council estates littered with poor and outdated accommodation. Southdale’s innovation accolade at the Constructing Excellence in the North East Awards followed the firm’s success in a £1.3m refurbishment of a sheltered development in Consett, Durham. The project, completed in partnership with housing association, Derwentside Homes, converted a 1960s bedsit flat scheme into 21 contemporary apartments for older people. Paul Moore, managing director for Southdale, said: “Winning three major construction awards in the space of just two weeks is a terrific achievement and again testament to the hard work of our dedicated team here at Southdale. “Being recognised for our ability to innovate across a range of schemes and regenerate entire communities demonstrates the breadth of our technical skills and experience.”
Care homes come onto the market A GROUP headed by Batley-born tycoon Lawrence Tomlinson has nine new care home developments on the market. Property agent Christie + Co is acting on behalf of Mr Tomlinson’s LNT Group – billed as the UK’s fastest-growing developer of care homes – in marketing the freehold sites, which will be located across northern England and the Midlands. The care homes, which total 479 beds, will be located in Derby, Halifax, Huyton in Merseyside, Rotherham, Sheffield, Stockport, Sutton in Ashfield, West Bromwich and Wigan. They range from a 40-bed home in Wigan to a 64-bedroom home in West Bromwich. Work has started on the new homes with all nine set to be completed during 2011. Andrew Long, commercial and development director at LNT Group, said: “These homes are the result of more than 25 years experience working with operators to develop a product that exceeds the expectations of residents, staff, owners and investors. “We are delighted to be working with Richard and the team at Christie + Co, the UK’s leading business agents in the care sector.” Richard Lunn, director and head of Care at Christie + Co, said: “This is one of the most important care home development instructions to come to the market in recent
■ HOME WIN: Southdale commercial director Richard Greenwood (centre) and technical director Trudie McCormick receive the award from Patrick Rafter, of Excel Publishing, at the Housing Excellence Awards
FOR SALE
Braemar & Northfield House Snelsins Road, Cleckheaton
1 Substantial detached period office buildings 1 276.67m2 & 399.4m2 (2,978 sq ft & 4,299 sq ft) 1 Potential redevelopment opportunity on site of 0.7 Acres Guide Price: On Application
TO LET
The Coach House & Stoneleigh
39 Halifax Road, Brighouse
1 107.88 – 647.24m2 (1,161 – 6,967 sq ft) 1 Two detached office buildings 1 Open plan & private offices 1 w/c’s, kitchen facilities & all mains services 1 Sufficient private car parking provision Rent: On Application
FOR SALE – NEW INSTRUCTION Red Doles Road Huddersfield
1 Large secure surfaced yard area 1 Approx. 0.24 Hectares (0.60 Acres) 1 Redevelopment potential 1 All mains services available to site Price: On Application
TO LET
■ DEVELOPER: Lawrence Tomlinson, of LNT Group years and will generate significant interest. “The care homes will provide the highest quality specifications including full en suite wet rooms, flat screen TVs and attractive day space features such as atriums and extensive lounge areas.”
Industrial Unit
Armytage Road, Brighouse
1 Modern workshop unit 1 Ease of access to Junction 25 of M62 motorway 1 511m2 (5,500 sq ft) Rent: On Application
KIRKLEES BUSINESS NEWS
Movers and shakers
Page 8
It’s the winning combination!
Sarah Devaney & and Matthew Wilson
Horizon BSF SIGN manufacturer Horizon Signs has appointed Sarah Devaney and Matthew Wilson (pictured) to run a new business focusing solely on supplying the educational market. Mr Wilson has joined Milnsbridge-based Horizon to set up Horizon BSF and has taken on the role of operations director. Previously, he worked as a supervisor at Horizon before leaving to set up his own business offering products to the education market. Returning to set up Horizon BSF, Matthew will focus on fixed furniture and equipment projects associated with the government’s Building Schools for the Future investment and renovation initiative. Ms Devaney has joined Horizon BSF as sales director. She brings considerable experience of the market, having worked in the education industry for more than 10 years, first as a buyer and then in sales.
DarrylGould
Institute of Directors A HUDDERSFIELD businessman has been appointed chairman of the South Yorkshire branch of the Institute of Directors. Darryl Gould (pictured), a chartered marketer, is a senior partner at Denby Dale-based marketing, sales and consultancy firm DPA Marketing. He has been actively involved with the IoD in Yorkshire and the Humber for several years, holding the position of South Yorkshire branch vice-chairman since 2007. Said Mr Gould: “I am pleased to have been appointed by the IoD to the role of South Yorkshire branch chairman. “This region has a dynamic and diverse business population with a growing IoD membership and it is important that the IoD assists this growth with relevant events and acting as a national voice for regional members as well as helping to encourage Yorkshire businesses to support and trade with each other.”
Barry Crowther
YPO THE UK’s largest public sector buying organisation has appointed its first managing director. Barry Crowther (pictured) takes up the post at YPO, which includes Kirklees Council as a member authority and provides procurement services to local government, education and other public sector services across more that 100 local authority areas. Mr Crowther has worked at YPO since 1970 when he joined as an order clerk in the publications department. Since then, he has worked in many aspects of the business.
TWO Huddersfield businesses are celebrating 15 years in business together. Netherton-based haulage firm The Pink Link Ltd has worked with Brockholes company Burton Safes since 1996. They decided to mark their partnership as Burton Safes managing director Norman Berry is to retire at the end of this year. Mr Berry founded Burton Safes in 1990, working from his garage. Since then, turnover has steadily increased and the company is now a major supplier of safes for the home and commercial premises such as shops across the UK and Ireland. The Pink Link has been its distribution partner for the past 15 years. Said Mr Berry: “We chose the company back in the mid-1990s because we were fed up with national carriers and their poor customer service. “The Pink Link is a local company with similar values and I believe it is important for local businesses to work together.” ■ SAFE AS HOUSES: Vicki Davenport, sales and commercial director of the Pink He added: “They are a very strong unit. Linkl Ltd, with (from left) Burton Safes operations director Jeremy Elson, managing All the team know who you are and are director Norman Berry, and Pink Link depot manager Roland Jackson happy to help.” Vicki Davenport, sales and commercial it will be the end of an era when he retires look forward to continuing our successful relationship with Burton Safe’s operations director at The Pink Link Ltd, said: “I at the end of this year. have worked with Norman for 15 years, so “But the partnership will continue and I director Jeremy Elson”.
Firm backs Everest venture
ACCOUNTANCY firm Clough & Co has welcomed the return of Catherine Berry from her challenge of a lifetime – to trek to the base camp of Mount Everest in memory of her late father, Keith Watmough, who worked at the company for more than 30 years before retiring as managing partner. The Cleckheaton-based firm was Catherine’s main sponsor on her journey, during which she raised more than £6,280 for the British Heart Foundation. Steven Gash, pictured (left) with Catherine and managing partner Nigel Bullas, said: “We are so proud of Catherine. Her determination and will to succeed means she has been able to complete an extremely challenging task. We are delighted to have contributed to the staggering amount of money she has raised.”
Her achievement was all the greater because Catherine has suffered with ME/chronic fatigue syndrome for almost 10 years. On her Everest trek, she walked for up to nine hours a day sweltering temperatures during the day, dropping to minus 20 deg at night, climbing to 5,364 metres. She said: “The effects of altitude, the weather and the constant climb were really tough, but we also got to see some amazing sights and even managed a snowball fight which literally took our breath away!” To further endorse Catherine’s sponsorship, Clough & Co has recently launched a new “journey” themed marketing campaign that includes a new corporate brochure, quarterly newsletter and website. Go to www.clough.co.uk/blog.htm
An efficient achievement AN employee at Huddersfield engineering firm David Brown Gear Systems has won a regional award. Ian Hemmingway (pictured) received the individual award at the seventh annual Yorkshire Productivity Awards. The accolade came for his work to improve production efficiency at the Lockwood-based company. The awards, which recognise outstanding productivity improvements among manufacturing firms in the region, were presented before an audience of almost 200 guests at the Royal Armouries in Leeds. Alastair Gladstone, divisional director of Yorkshire Productivity, said: “The manufacturing sector has something significant to celebrate this year. “We are experiencing growth in traditional manufacturing sectors, in hi tech markets and green technologies with exports rising to their highest levels for some time. “We have witnessed training being embraced to an unprecedented degree during the downturn in the economy. “The winners deserve their awards in recognition of their resilience and commitment to continuous development in the face of adversity.” Yorkshire Productivity is an Ilkley-based training organisation which helps companies to operate more efficiently and effectively.