Jennifer and Stephen discuss a new production facility for BAE Systems, the acquisition of a hotel and wedding venue, and a deal for part of the ISG Group.
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00:00A new production facility for BAA Systems, the acquisition of a hotel and wedding venue,
00:05and a deal for part of the ISG Group, featuring today's business briefing.
00:15So Gemma, what's caught your eye this morning?
00:17Yes, so over in Lancashire actually today, a country house hotel and wedding venue has been acquired.
00:22The venue is called Ferrari's Country House Hotel and Restaurant, and it's located on Shipping Lane in Preston.
00:29The house hotel comprises 23 ensuite bedrooms and two colleges,
00:33and it also features three function rooms that can accommodate 250 people,
00:38an outdoor ceremony space and a dining and a bar area.
00:42The attached property is also located in Longridge, and it has stunning views of the surrounding countryside,
00:51which is brilliant, of course, for couples getting married for their wedding photos.
00:56Yes, fabulous. Completed the sale on behalf of a private client to L or Leisure for a price of £2.25 million.
01:04Sounds like a lovely venue.
01:05Yeah, absolutely it is.
01:07Well, over in South Yorkshire, we've got BAA Systems announcing plans
01:11for a new artillery development and production facility in Sheffield.
01:15So the 94,000 square foot facility is set to boost their production of the lightweight towed howitzer
01:23and also support the UK government's drive to boost the UK's artillery capabilities.
01:29The facility is being funded by investments worth more than £25 million,
01:33and BAA have said it's expected to create about 50 jobs.
01:36So great, great news there for the region.
01:39Work is underway to prepare the site, and it could be operational by 2025.
01:44So that follows on from the recently announced trade agreement between the UK and Germany,
01:49which was signed back in October.
01:51That paved the way for a proposed artillery gun barrel facility,
01:55which will use steel also produced in Sheffield by Sheffield Forge Masters.
02:00So, yeah, a really strong time for the South Yorkshire manufacturing sector.
02:03Brilliant, great.
02:05Well, there's also been an update regarding ISG today.
02:09So you might recall back in September,
02:11it was announced, unfortunately, that administrators were being appointed to the construction firm.
02:16Now today it's been announced that the construction company, Morris & Spottiswood Group,
02:21that it will be acquiring part of ISG, so its cathedral business,
02:26in a move that is set to save 111 jobs.
02:29So the 111 new colleagues will be welcomed into the business,
02:33including the senior management team led by Kevin Dengate.
02:37And the acquisition will establish Morris & Spottiswood England,
02:42which is a new division within the overall group.
02:44And it's also set to accelerate Morris & Spottiswood Group's growth plans.
02:50And it's projected to take the turnover to £265 million.
02:55Good to see a positive outcome there.
02:57Yeah, for sure.
02:58Well, last thing for us, Granger, the listed property company,
03:01has announced the completion of its second development in Birmingham.
03:04So the silver yard comprises 375 apartments.
03:08It's also got on-site gym, residence lounge, co-working space,
03:12dining area and a roof terrace.
03:14The project created 465 jobs during construction.
03:18And Granger has said that more than 100 of the homes have been reserved since its launch.
03:24It's actually the first development for Granger in Birmingham
03:28was the £28 million Gilders Yard development, which launched in 2022.
03:32And that comprises 158 homes.
03:34Together, the two schemes represent an investment of £105 million
03:38and they comprise more than 500 properties.
03:41So yeah, some strong development there in Birmingham.
03:45Brilliant.
03:46Well, to hear more about the stories that we spoke about today,
03:49you can head on over to insidermedia.com
03:52where you can also subscribe to our newsletters
03:54and hear about our upcoming events.
03:57Bye.