Adam and Stephen discuss a long-running housing saga, a rescue deal for an aggregates supplier and the acquisition of one of Cardiff's 'trophy' buildings.
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00:00A long-running housing saga, expansion for a beauty retail giant, and the
00:04acquisition of one of Cardiff's trophy buildings, featuring today's business
00:08briefing. Good morning, Stephen. Morning. How are you today? Not too bad, yourself? I'm very well,
00:18thank you. We've got some big stories to talk about today, and I'll kick us off, if
00:22you don't mind, with jobs having been safeguarded at an aggregate supplier
00:27with its sale out of administration. That's regarding Prestige Aggregates,
00:32actually based in York Patch in Sheffield. Now, they're a supplier of
00:38aggregates and glass in Yorkshire, and they've been acquired by a company
00:43controlled by Jonathan Prutton and Philip Horsnell. Now, the pair that have
00:47acquired the company have extensive experience in the construction and
00:51materials sector, and that's through ownership of Moorhead Excavations in
00:55Leeds, and East Midlands Demolition in Derby. The deal for Prestige Aggregates
01:02was arranged by administrators from PKF Smith Cooper, and it safeguards the jobs
01:08of staff at the business. So, some positive news to start us off. Well, in the
01:15North West, we've got an update on a long-running saga surrounding a housing
01:20development in Crewe that has been built and is occupied, but currently,
01:24unfortunately, does not have valid planning permission. So, Copenhaw Place
01:29comprises 239 homes and 44 apartments, built on a former train factory in Crewe.
01:34Countryside Partnerships secured permission initially in 2018, and the
01:39scheme was then built out in accordance with that plan. However, consent was later
01:43made void for failure to deal with the condition relating to contaminated land.
01:47As a result of that, retrospective planning permission is now being sought
01:52for the development. Cheshire East Council had been expected to make a
01:57decision on those plans in March 2023. However, a decision was deferred at that
02:02meeting to allow more time to consider assessments from Environmental Protection
02:06in relation to the contaminated land. It was then deferred for a second time in
02:11November of that year, so the saga has kind of gone on and on. The plans will
02:17come back to the Planning Committee next week, 26th of March, and there is a
02:21recommendation from officers that approval is granted. So, hopefully that
02:25will then give some much-needed peace of mind to the residents of the development.
02:29Definitely, hopefully we'll see a conclusion to what's been, you know, a
02:32long-running thing. We're moving into the retail sector now, with the expansion
02:38of a beauty retail giant, which has actually signed up for its largest store
02:43outside of London. It's going to open a store in Birmingham's iconic Bull Ring
02:49shopping centre. The company in question is Space NK, which is signed with
02:54Hammerson for a 5,500 square foot unit on the upper level of the Bull Ring, and
02:59it's located adjacent to existing stores like All Saints and Dog Mines. Set to
03:05open this summer, Space NK's new store will operate as its regional flagship, so
03:11it's a significant move for the company. The store actually adds to Bull Ring's
03:15existing beauty offering, which is quite extensive. Last year we reported on
03:20Sephora, a giant as well, opening its flagship in the region last year.
03:27The Bull Ring also welcomed K-beauty retailer Pure Soul, which made its debut
03:33in the West Midlands in 2024 as well. Great stuff. Well, sticking with property
03:39in Wales, we've got the news that one of Cardiff City Centre's trophy buildings
03:43has been acquired in a multi-million pound deal. Number 2 Callan Square is a
03:47five-storey building located adjacent to the train station. It comprises
03:51about 44,000 square feet of space. The current tenants include
03:55Handles, Banken, Macdonald, Clarke-Wilmot, Darneton B3 and Church in Wales. It has
04:02been acquired by a joint venture between August Capital Partners and Magwitch UK.
04:06The new owners have said they've got plans for various improvement works that
04:10they said will improve the experience for existing tenants and new tenants and
04:14those are expected to come forward later on this year. Night Frank, the property
04:19consultancy which advised the buyers, said the deal came at
04:24a really exciting time for Cardiff's office market with record rents
04:29reported last year. So, great deal for Wales there. Yeah, definitely notable.
04:32Well, for more on those stories visit insidermedia.com. You can also sign up to
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04:40Thanks.