Major boost to region from offshore wind farm go-ahead
The wind farm will be fully operational during 2020 and will see 100 wind turbines powering 500,000 homes as well as providing a boost to the Great Yarmouth and Lowestoft Enterprise Zone.
Mark Pendlington, chairman of New Anglia LEP, said: “This further confirms the place of East Anglia as a top location in the world for offshore wind. The development will provide an excellent economic boost for Norfolk and Suffolk and we will be working hard with Scottish Power to make sure that local businesses continue to benefit from big investments like this. £15 million of contracts have already been awarded with the prospect of much more to come."... Read more
Surge in investment in Cambridge property investment
There is burgeoning demand for Cambridge commercial property from investors and with rents predicted to grow faster than capital values, speculative building could become more attractive. According to Philip Woolner, director of Commercial at Cheffins, Cambridge commercial property investment is seeing a ‘ripple effect’; as demand has pushed up capital values over the last couple of years, the regions have been the most recent winners, including the big office centres of Birmingham and Manchester plus strong local economies with an international reputation, such as Cambridge. Institutions are pursuing strategic decisions to increase the percentage of their funds in commercial property and even a single percentage point increase in funds allocated can mean hundreds of millions of pounds pouring into commercial property. But he says it continues to be tricky to convert this into deals in the region, even though the big funds have relaxed their criteria to invest in a wider range of properties. Supply remains limited as much prime office/ R&D space and development land is owned by the university or its colleges and is rarely traded.
Manufacturers off to strong start to 2015
Manufacturers in the East of England have got off to a good start to 2015 and are amongst the most confident in the UK, with output, orders and employment all rising says an EEF survey. A net 40 per cent of the region’s manufacturers reported increased output – the second highest in the UK. The region also came second for orders with a net 33 per cent reporting an increase. Some 10 per cent of firms are recruiting and a net 21 per cent of firms have increased investment. Jim Davison, East of England region director at EEF, said: “Any concerns that manufacturing activity might wobble at the start of 2015 have been quashed. These findings show that output, orders, investment and employment are all headed in the right direction, which is a good indication of the confidence companies in our region feel.”
Food & drink firms urged to trade with supermarkets
Norfolk’s small food and drink producers shy away from doing business with supermarkets, due to cultural rather than financial reasons. But a study from accountancy firm Lovewell Blake says over 70 per cent who deal with supermarkets have found the experience positive. Not wanting to lose control and a clash with the ‘artisan ethos’ were the main reasons for avoiding the large chains. Justin Wright, food and drink specialist at Lovewell Blake, said: “It is really encouraging that those small producers who have entered into a relationship with one or more supermarkets overwhelmingly believe that the experience has been positive and good for their business.” Lovewell Blake is holding a free seminar for food and drink producers called ‘Small Producers and the Supermarket’ on 14 April www.lovewell-blake.co.uk/media-centre/events.
Investment manager to open in Norwich
Stockbroker and investment manager Hargreave Hale is opening an office in Norwich in August and is appointing two experienced investment managers, Richard Larner and Paul Pearce, who will both join from Brewin Dolphin. Joint managing director Stuart Brookes said: “The Norwich office is another step forward in our regional expansion strategy, and something we believe investors in the region will respond to positively, particularly at a time when some providers are scaling back their service offering.”
Healthy profits at building society
Ipswich Building Society has increased pre-tax profits to £3.8 million in the year to end-November from £3.2 million previously and maintained its balance sheet at £601 million during a period of change. The society completed a two-year IT transformation project and is diverting resources way from new mortgage business to maintain to focus on service. Chief executive Paul Winter said: “Maintaining healthy levels of profit allows us to build a strong capital base which in turn supports reinvestment back into the business. Our mortgage lending remains substantially funded by retail deposits from members...2015 will be marked by a steady return to the mortgage market. We’ve made a start already but there’s plenty of innovation to come.”
Strategic appointment at law firm
Pamela Blore has joined the corporate team at law firm Birketts as a professional support lawyer in Norwich. Adrian Seagers, partner and head of Birketts’ corporate team, said: “Pamela’s appointment is a crucial strategic move for the firm. She brings with her over 20 years’ corporate experience at leading international law firms and a specialism in the design and delivery of company commercial training.” She will support colleagues across Birketts’ four offices: Ipswich, Chelmsford, Cambridge and Norwich.
Museum grant for Ipswich
Colchester & Ipswich Museums has won more than £660,000 from the Arts Council’s Resilience Fund. The three-year funding will create jobs, volunteering and skills development and establish new partnerships with University Campus Suffolk. Cllr Bryony Rudkin, Ipswich Borough Council’s culture & leisure portfolio-holder, said: “This success for our museums will enable us to expand our commitment to support skills development in partnership with University Campus Suffolk and create new job opportunities. It will also support the Ipswich Arts & Museum project in becoming a centre of excellence.”
Growth gathers pace at Norse
Norse Commercial Services has reported sales of over £37 million for the last 12 months; record growth which takes the facilities management group’s annual turnover to more than £180 million. Sales director Geoff Tucker said: “This sales growth includes 157 new contracts and contract renewals won in competitive tender situations, proving that even with the continuing economic pressures Norse is seen to represent good value across the wide range of services we supply. With a success rate of 39 per cent of tenders submitted Norse is considerably higher than the industry average of 30 per cent.” The company’s business retention rate was 96 per cent. The joint venture subsidiaries Norse runs in partnership with local authorities (14 across the UK) are also contributing to extra sales as they can compete for external contracts, adding £2.75 million of business in the past year. The figure is set to grow significantly with the appointment of new business development managers . Meanwhile, the sales team for Norse’ traditional contract services is also being strengthened as the business expands it its traditional heartlands.
See Profile Norse Commercial Services
New general manager for Domino UK
Domino UK, based at Bar Hill in Cambs, has promoted Mike Hurst to general manager for the UK sales channel, replacing Will Edwards, who was recently promoted to a new position as European sales director. Since joining Domino in 1991 Mike Hurst, a chartered engineer with a first class hons degree in computer science, has held a variety of roles including overseeing start-up business units as a result of organic business growth and acquisitions. As product director for Domino, he was instrumental in three new acquisitions and Domino’s move into the high resolution inkjet printing and print and apply sectors. Since 2013, Mike Hurst has worked as director of UK sales. He said : “I’m delighted to be taking on full channel responsibility as UK general manager and I am thoroughly looking forward to the challenges that this will inevitably bring. A key aspiration is to increase our footprint in our established industry sectors and to work to widen our presence in new industry sectors.”
Award for Suffolk apple grower
Local Suffolk apple grower Boxford (Suffolk) Farms has been presented with the national 2015 Top Fruit Grower of the Year award at the Grand Connaught Rooms in London. The 77 year-old family business - which also created Copella Fruit Juices and the 4 star Stoke by Nayland Hotel, Golf and Spa -has been recognised for the innovative technology and growing systems that it has invested in over the last 10 years. Group director Robert Rendall said: “As a team we challenge ourselves to be the best growers that we can be - in a worldwide market place. Our farms director, Robert England, and our highly motivated and capable team have delivered this and more with their energy, enthusiasm and dedication.”
Photo: (l to r): Jason Perrott (Morrisons Supermarkets) BSF Team & Directors: Marcel Grigore, Jonathan Loshak, Iain Clarke, Susanna Rendall, Srinivas Gottam, Robert England, Robert Rendall & Tamara Unwin
