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- Clegg Construction Completes Maltby Grammar School
Contractor Clegg Construction has completed an exciting £5.9m renovation scheme to transform Maltby Grammar School near Rotherham into a community resource and education centre. During the course of the project, Clegg invested more than £3m into the local economy by using local labour and materials wherever possible. The company’s commitment to South Yorkshire provided local employment opportunities for those living in the area which also enabled reduced travel-to-work times and distances – helping the environment too. Nine former Maltby Grammar School students, as well as a number of people from the Maltby area, were part of the workforce. Pre-construction director at Clegg Construction Ross Crowcroft said: “We are delighted to have handed over the repurposed and renovated Maltby Grammar School to Maltby Learning Trust." “The building has had a distinguished past and now has a bright future as a superb community resource, providing local services and learning facilities." “Clegg Construction takes pride in supporting local communities wherever we work, which has been aptly demonstrated by our commitment to the local economy in the Maltby and South Yorkshire area and the people who live there." “We wish Maltby Learning Trust all the best as Maltby Grammar School once again comes to life to provide facilities for the local community.” During the course of the renovation, Clegg worked with clock repair and dial restoration specialists, Smith of Derby Ltd, to repair the iconic clock tower at Maltby Grammar School – getting it working again for the first time in ten years. The renovated Maltby Grammar School will accommodate local services, support wellbeing, employment and enterprise, and provide substantial learning opportunities. The building will also extend Maltby Learning Trust’s post-16 specialist facilities and create an incubator space for training, apprenticeships and start-up support in the leisure and hospitality sectors. Maltby Learning Trust CEO, David Sutton, said: “We are thrilled with the work that Clegg Construction has done to renovate and refurbish the former Maltby Grammar School Building. The Trust will now be working to fit out the interior of the multi-purpose building to make it suitable for our sixth form, business, and community audiences." “This project will make a huge difference to the area by offering a space for people to learn, reskill, work, and thrive. We are looking forward to opening the building later in the year with a series of events.” Built in the early 1930s, the school closed in 2012 and had fallen into a state of disrepair after being mothballed. The redevelopment project was part of a winning bid to the Government’s Levelling Up Fund secured by Rotherham Council, which focused on boosting the leisure and hospitality sectors in the area. The Levelling Up Fund provided £4.5m towards the project. During the renovation, Clegg supported careers events at Maltby Academy, sponsored Maltby Learning Trust’s 2023 annual staff conference and awards, and also delivered 212.5kg of food, nappies and other donated items to Maltby Foodbank for distribution to local families as part of its commitment to the area. Other members of the team involved in the scheme included Self Architects, engineer GCA Ltd and employer’s agent and project manager Cube. Clegg Construction is a Midlands, East Anglia, and Yorkshire-based construction firm specialising in the delivery of public and private sector projects. The company works with organisations of all sizes and specialities across a range of different sectors. For more information visit he re.
- Luxury Bedmaker Announces Partnership With BBC Sewing Bee Judge
Luxury bedmaker Harrison Spinks has teamed up with designer and BBC’s The Great British Sewing Bee judge Patrick Grant to champion quality British craftmanship and highlight the company’s innovative manufacturing processes. Patrick has visited the 300-acre Harrison Spinks farm in Yorkshire where it grows its own natural fillings, and the nearby factory where award-winning recyclable spring systems and FR chemical-free mattress fabrics are made in-house. It marks a return to Leeds for the owner of Savile Row tailors, Norton & Sons, who studied at the University of Leeds. Patrick is also the founder of Community Clothing which champions affordable, quality clothes made in the UK from the finest materials. Fifth-generation family-owned business Harrison Spinks is one of the UK’s largest growers of hemp and the only bedmaker in the UK to weave its own mattress ticking and upholstery fabrics, which, due to their high wool content are naturally fire-retardant. It also currently grows flax, which is a more sustainable alternative to cotton. Patrick said: “Harrison Spinks and I share many core values, from working with natural, quality, British materials to championing sustainability and innovation, making it a perfect fit." “I’m so pleased to be working with this 180-year-old British company, as not only are the beds amazing, but its dedication to doing things the right way for customers, staff, and the planet, is a fantastic example to other businesses." “Harrison Spinks is an industry leader, and I am particularly impressed with their in-house weaving and artisan bedmaking, keeping traditional manufacturing techniques alive." “Their approach to sustainable innovation and using homegrown materials and fabrics is inspiring, as is their unique approach to luxury bedmaking.” Nick Booth, Managing Director at Harrison Spinks, said: “Patrick shares our passion for celebrating the very best of great British craftmanship and creating exceptional quality products made with locally sourced, natural materials, handcrafted here in the UK using traditional techniques." “He is a true champion of British manufacturing and British textiles – something close to our heart – and will be helping us to spread the word on how we’re cut from a different cloth. Our shared ethos is a key driving force behind this partnership." “Patrick has spearheaded initiatives to revive flax growing and linen textile production across the UK – and we grow some of the finest natural fibres, including hemp and flax, right here in Yorkshire to create luxurious filling pads that are layered into our mattresses." “We’re looking forward to welcoming Patrick back to the farm and factory so he can see the incredible process for himself, and explore how we can support each other and work together further in the future.” For more information about Harrison Spinks, visit here.
- Former John Lewis Distribution Centre In Sussex Acquired
A large, modern, high specification warehouse distribution centre in East Sussex, formerly occupied by John Lewis Partnership, has been let. Unit 4, Ashdown Business Park is a high spec 50,664 sq ft (4,707 sq m) warehouse premises on a 3.3-acre securely fenced site located at Maresfield, near Uckfield. Property consultancy and agents Vail Williams acted for John Lewis Partnership (JLP) on the letting. The property was deemed surplus to requirements and closed in 2022 and Vail Williams worked with landlord, property company LondonMetric Property plc, to market and assign JLP’s lease. However, following significant interest, a deal was concluded on basis of a lease surrender by JLP and grant of a brand new 15 year lease on an improved market rent of just under £10 per sq ft with CPI reviews. The occupier is unnamed. Designed and built for JLP in 2016 as a regional distributional hub in 2016, the detached, self-contained distribution warehouse has 21 loading doors, a large servicing yard, high quality office accommodation and parking for 93 vehicles. Steve Berrett, Vail Williams Gatwick region Partner, said: “We are thrilled to have completed this transaction, not only for John Lewis but also for the landlord. We received a great deal of interest in the unit and it was a complex transaction." “It was very much a successful result for all parties – JLP were able to relinquish the liability and LondonMetric achieved a new lease on improved terms.” Vail Williams, based in Crawley and Brighton and covering West & East Sussex, has been advising public and private sector organisations on their property needs throughout the Gatwick region for more than 25 years. The firm’s full-service property advice includes commercial agency, investment and development advice, building consultancy, property valuation, planning, lease advisory, property asset management, business rates and occupier consultancy.
- Lord Coe Joins JCB's Charity Challenge
A team of JCB cyclists today crossed the finish line of an epic charity fundraising effort to ride around the world in 80 days - four days early. The 42-strong group began the 42,000-kilometre challenge last month to raise money for Hannah’s Hope charity, a fundraiser set up by JCB welding apprentice Hannah Roberts, 20, who was diagnosed with brain cancer just months after joining the company. The aim was to complete the ride on Tuesday, April 30th - Hannah’s 21st birthday - but the team put so much pedal power into the initiative, that they finished four days early, completing the last 500 kilometres today at JCB’s World HQ in Rocester. So far, the challenge has raised around £34,000 for Hannah’s Hope charity. And there to join them in a sprint to the finish was 1500 metre Olympic Gold Medallist Lord Coe, who congratulated the team on their efforts. Lord Coe said: “This has been a tremendous effort by everyone involved and for such a wonderful cause. It just shows what can be achieved through teamwork.” Hannah was given just 15 months to live in September 2022 when she was diagnosed with glioblastoma. Although she has undergone surgery to remove the cancer, followed by radiotherapy and chemotherapy, a trait of the condition means it keeps re-growing. With the support of JCB, her family has already reached a £250,000 fundraising target for treatment in the USA when she needs it. Now, Hannah is aiming to raise £200,000 to buy and equip a luxury holiday lodge just five minutes from her home at Mercia Marina, in Willington, Derbyshire. The lodge will be offered free of charge to families of teenagers and young adults who are under the care of the Teenage Cancer Trust to spend valuable time together. Hannah and mum Gail Iredale visited the JCB World Headquarters at Rocester on Friday to watch the conclusion of the JCB Around the World in 80 Days cycle challenge. Gail said: “We are so overwhelmed by what the JCB cyclists have done for Hannah’s Hope and their efforts have given the appeal a tremendous shot in the arm. We really are truly grateful.” JCB Principal Engineer Aaron Turner, event organiser and a founding member of the JCB Cycling Club, said: “It’s been a tough challenge and we are delighted to have completed it earlier than anticipated and give Hannah an earlier than expected 21st birthday. I’d like to say a huge thank you to everyone who has supported us along the way, and most importantly, to everyone who has donated money to the appeal. It really will make a big difference to the lives of children and young people with cancer.” Over the ten-week challenge the cyclists clocked up the miles with individual road rides and group outings, including a route to Mercia Marina, where Hannah’s lodge will be sited. The total was also topped during spinning classes at the JCB World Headquarters each Monday, Wednesday, Thursday, and Friday.
- Olympic Silver Medallist To Retire From Track Cycling
Ryan Owens has announced his retirement from the Great Britain Cycling Team, after a stellar career in track sprinting that has seen him amass Olympic, world, European and Commonwealth medals over almost a decade. Owens will be stepping away from competitive cycling to move into a full-time role in strategy consultancy, having recently completed a Masters in Business Administration (MBA) alongside his training. Following in the footsteps of his father and grandfather, who both competed themselves, Owens picked up the sport at the age of 11 and enjoyed consistent success at a national level. His performances attracted the attention of the Great Britain Cycling Team who handed him a trial with the sprint squad in September 2015, before swiftly progressing on to the then Senior Academy to train full-time and follow his Olympic dream. Impressive progress saw Owens take back-to-back gold medals in the team sprint at UCI Track Cycling World Cup rounds in 2016, as well as a silver medal in the same event at the UEC Under-23 Track European Championships and a selection as reserve for the Rio 2016 Olympic Games. These performances earned Owens his first world championships selection, in 2017 in Hong Kong, where he finished fourth in the individual sprint. The following year brought another opportunity where Owens went on to win his first world championship medal, a silver as part of a five-man team sprint squad alongside Sir Jason Kenny, Phil Hindes, Jack Carlin and Joe Truman, just losing out in the final to the home Dutch team. The following month, Owens added a first Commonwealth Games medal to his growing collection - teaming up with Hindes and Truman for Team England to win team sprint silver in Australia. More success followed in 2019, with three team sprint silver medals across the European Championships and two world cups, followed by another team sprint silver at the 2020 UCI Track Cycling World Championships. Having delivered consistent medal success since joining the GBCT sprint programme, Owens was selected alongside Kenny and Carlin as the sprint squad for the delayed Tokyo 2020 Olympic Games. After strong qualifying rounds, the trio faced long-standing rivals the Netherlands in the gold medal ride off and having kicked off with a blistering pace on the first lap, Owens was rewarded with a silver medal. Owens began pursuing a Masters in Business Administration (MBA) qualification at the London Business School. Having balanced this with track and gym training throughout, Owens has now decided that the time is right to hang up his wheels, before taking up a strategy consultancy role later in the year, after working full-time during the summer for Team GB. On his retirement and time on the GBCT programme, Owens said: “Over the past eight years with the Great Britian Cycling Team, I’ve truly been able to live out my childhood dream and I’ll look back at my time as an athlete with immense pride." “I will savour the memories of the friends I’ve made, the places I’ve travelled, the people I’ve worked with, and the opportunities I’ve had to represent my country, all through my love of riding my bike.” Stephen Park CBE, Performance Director for the Great Britain Cycling Team said: “Ryan has been a valuable and well-liked member of the Great Britian Cycling Team for almost 10 years now, and in that time has delivered a number of impressive results as part of our men’s sprint squad. Specifically, he has seen great success playing a key role in the team sprint squad, where he won his silver Olympic medal in Tokyo – a moment which I'm sure will stay with him for life." “As a team, we put a lot of work into making sure our riders are encouraged to pursue their interests outside of cycling, and to develop skills that will stand them in good stead when their cycling career does come to a close. Ryan is a fantastic example of this, and it’s been great to see him complete his MBA qualification which has given him with the skills and confidence to move into what I’m sure will be an incredibly successful career now he has decided to hang up his wheels, and the whole team wishes him all the best.” Photo credit SWPix.
- Retailer Insolvencies Decrease 17% In March
The latest insolvency figures for England and Wales show a 17% decrease in all company insolvencies in March 2024 compared with the month prior, yet figures remain much higher than seen during the COVID-19 pandemic. Oliver Collinge, Director at restructuring and insolvency firm, PKF Littlejohn, says that despite the fall in numbers the corporate failure rate remains unusually high. These statistics and the recent failure of some high-profile businesses like Body Shop and Ted Baker are a reminder that there is still significant uncertainty in the UK economy and many businesses remain vulnerable. “Although the latest figures show a fall overall, corporate insolvencies remain at a very high level and, whilst high profile casualties tend to grab the headlines, it is worth considering how the climate of economic uncertainty affects SMEs, which make up 99% of all UK businesses. Ongoing supply chain challenges, weak consumer confidence and a consistently high cost of doing business all present real challenges. “It's critical that businesses act early and seek advice if they are struggling, or if they expect their cash flow to be limited in the coming months. The earlier they act, the more options they will have to secure the long-term survival of their business. This is crucial to enable SMEs, which are at the core of the UK economy, to survive and thrive.”
- Over 55s Are Being Overlooked And Locked Out Of The Workplace
One in three UK employees in the UK are over the age of 50*, but a large proportion of this generation are being overlooked for workplace skills training opportunities and are being locked out of opportunities to upskill and re-skill in today’s rapidly evolving workplaces. Over half of over 55s haven’t received any management or leadership training in their current role. Employees in the 23 - 38 age bracket were most likely to have participated in management and leadership training in their current role, with two thirds (67%) having received training to support the development of their management or leadership skills in their current job. Over half of over 55s (55%) haven’t received any technical skills training on how to use digital tools and technologies, such as ChatGPT, from their employer in the past twelve months. This is over twice the number of younger adults aged 18 - 25 (27%) who haven’t received training in these critical areas in the past year. The findings are from Corndel’s Workplace Training Report 2024, based on research conducted with 1,000 UK employees and 250 HR decision makers at large organisations**. Furthermore, employees aged over 55 are also least likely to have received workplace training around ‘human’ management skills, such as empathy, mental health awareness and emotional intelligence, with only 25% who have received training in these areas in comparison to an average 39% across all age groups. Over 55s value professional development and aren’t confident in their current skills set Over half of over 55s (54%) say professional development is an important factor in their decision to stay with an organisation, suggesting employers need to shift their thinking around offering training and development for employees who are in their fifties and over. Worryingly, one in five over 55s (19%) don’t feel confident enough in their current skill set to find new employment or pivot their career if they were to lose their current job. In contrast, less than one in ten (8%) under 55s didn’t feel confident in their ability to find a new job or pivot their career with their current skill set. James Kelly, co-founder and CEO of Corndel, said: “Skills power people and power organisations. Without providing access to adequate training opportunities, we are not allowing this group of the workforce to thrive. And businesses are potentially losing out on the huge value that this experienced group of the workforce can add if they have equal access to ongoing technical and management skills training.” “Continuous learning and upskilling needs to be embedded into the UK’s workplace culture. In an era of the great ‘unretirement’, with thousands more over 55s working longer than ever before, alongside a time where both technology and working practices are evolving at lightning speed, people in all roles, at all levels of seniority and across all age groups should have the opportunity to enhance their skills and learn new skills to prosper in today’s workplace.” Over 55s case study: Robin Razzell, Data Analyst at Mitie Energy Robin Razzell is a highly experienced commercial project manager with a 24-year career spanning engineering, retail, and IT systems development and is currently a Data Analyst at Mitie Energy. Robin is currently enrolled on the Corndel and Imperial College London Data Analyst programme. Robin says: “I'm a believer in lifelong learning. Twenty or thirty years ago, career progression by the time I got to my level often plateaued. However, now, unless you are staying ahead of the curve, you essentially become redundant, because the environment in which we work is moving forward so quickly." "If you want to remain relevant to the workplace, you must upskill, it doesn't matter what age you are. Without that upskilling, you will shortly find yourself sidelined and of no more use if you're not educated about the current trends in the workplace environment.” AI Fundamentals training a core part of all Corndel workplace training programmes To help employees at all stages of their career upskill in the latest technology tools in the workplace, Corndel, the strategic workplace training provider, has recently introduced its ‘AI Fundamentals’ learning modules across all of its leadership, data and tech programmes at all levels of learning. The course is designed to be accessible to all employees, no matter where they are in their career, and is designed to empower and elevate professionals in an evolving and complex AI landscape. The course modules provide foundational knowledge of AI, its mechanisms and its potential, as well as ethical considerations and practical applications of AI tailored to each professional sector, ensuring learners can navigate the AI-powered future with confidence and responsibility. Notes * Restless **Opinium Research conducted an online poll on behalf of Corndel with 250 HR decision makers in organisations with 250+ employees and an online poll with 1,000 UK employees on 7th to 11th December 2023.
- St Austell Brewery And Rick Stein Group Partner Up
St Austell Brewery has signed a three-year deal with the prestigious Rick Stein Restaurant Group to supply its beer in its venues. The two Cornish-born businesses have had close working relationships for many years, with the Stein family having run The Cornish Arms in St Merryn for 15 years, which is a St Austell Brewery owned pub. korev, St Austell Brewery’s flagship lager, is now on draught at eight of the 11 Stein’s sites across the UK, including in Padstow, London and Winchester. Bottled Tribute will also be available as well as Harbour Brewing beers, Arctic Sky and Daymer Bay - both to be supplied on draught in six of the Stein’s sites. St Austell Brewery took a minority share in Harbour in 2022, to help grow the company’s South West beer distribution. Lee Tinn-Stephens, St Austell Brewery’s Sales Development and Export Manager, said: “It’s fantastic to have solidified this Cornish-born partnership that extends beyond the South West." “It’s a hugely rewarding partnership that the whole team and I have been looking forward to. That’s because of what the Steins represent in Cornwall and beyond, in terms of quality food and establishments." “It’s great to be associated with Stein’s and have our beers, as well as Harbour beers, in their sites.” Jack Stein, Chef Director for The Rick Stein Group, added: “It's great to be working and forming closer ties with another longstanding Cornish business. I'm looking forward to an ice-cold pint of korev or two in our restaurants this summer.”
- Nearly Half Of Brits Want To Start Or Grow A Side Hustle
New research released shows that 45% of people are looking to increase their income by starting or growing a side hustle this year. NatWest is the official banking partner of Team GB and has joined forces with top British Olympians to deliver a Team Talk to inspire the nation to reach their personal and financial goals. As part of the partnership, the bank commissioned a survey* of 2,000 British adults to identify these goals and understand the motivations behind them. The research found that 64% of Brits are looking for ways to increase their income in 2024, from working longer hours (33%), to getting a new job (26%) and asking for a pay rise (15%). However, nearly half of those asked responded by saying they were interested in starting or growing a side hustle. As the UK’s leading bank for businesses, NatWest provides entrepreneurs and small and medium-sized enterprises (SMEs) with the services and expertise they need to get their business off the ground and succeed. James Holian, Head of Business Banking, NatWest, said: “These figures show we are an ambitious nation with great entrepreneurial spirit, and NatWest has all the tools needed to help business owners start, run and scale their businesses." “With over one million SME customers, we have a long track record of offering the right personalised support to help businesses across the economy.” Through the NatWest Accelerator programme, over 1,000 entrepreneurs have already benefited from access to a range of comprehensive support designed to grow their businesses, including one-to-one coaching, access to like-minded peers and expert advice. NatWest has fourteen accelerator hubs across the UK and online, making it easier than ever for entrepreneurs to access genuine expertise that is relevant to their business. This is helping to remove barriers to entrepreneurship, providing more opportunities for those wanting to start or grow a business this year to make it a reality and reach their goals. Notes *The survey of 2,000 Brits was conducted by Onepoll in February 2024 on behalf of NatWest The Team Talk is available on YouTube featuring Olympians Sir Chris Hoy, Max Whitlock, Helen Glover, Duncan Scott, Bethany Shriever and Emily Campbell.
- Scottish Bowls Manufacturer Secures New Funding
Thomas Taylor Bowls has secured a Virgin Money funding package backed by government department UK Export Finance (UKEF) to help the family business continue its international growth. Glasgow-based Thomas Taylor Bowls is the oldest bowls manufacturer in the world, with over 200 years of experience. They export to over 70 countries around the world and are the preferred supplier to a number of national teams including Scotland, England, Wales, Ireland, Canada, New Zealand, Australia plus many more. Their bowls, known for their expert craftmanship, have found favour with players across the world, from seasoned pros to enthusiastic newcomers. This widespread appeal speaks to the business’s commitment to quality and innovation. Following a recommendation by an existing Virgin Money customer, Thomas Taylor Bowls contacted the bank whose Business Direct, Trade Finance and Treasury teams worked closely with UKEF to structure a deal providing the specialised support the business needed to continue to grow internationally. Virgin Money has provided a tailored funding package including foreign exchange services, international payments and a UKEF guarantee offered under its General Export Facility (GEF), which were all vital elements given the importance of international exports to Thomas Taylor Bowls’ strategy. The GEF product is a flexible, government-supported scheme that helps UK export businesses – especially SMEs – to access working capital facilities, helping to improve cashflow or speed up international trade growth. Grant Heron, Managing Director, Thomas Taylor Bowls Ltd said: “The breadth of experience with the team at Virgin Money was exceptional. They understood our needs and put a great package together with UKEF to help us meet our full international aspirations and requirements.” Craig Wilson, head of FX sales & trade finance at Virgin Money said: “I’m delighted that we were able to support Thomas Taylor Bowls with a range of tailored products designed to help them continue their impressive record of international growth." "At Virgin Money we aim to ensure businesses have access to key specialists that can add value at the right time, and by bringing together the skills of our Trade Finance team, who are available to support internationally trading businesses, our Business Direct colleagues and UK Export Finance, we have delivered a winning package for the customer." Carol Harvey, UKEF Export Finance Manager for Fife and Central Belt including Edinburgh and Scottish Borders, added: “Thomas Taylor has shown that there is global demand for quality Scottish exports." "Our support is now helping this family business to take the next step in their exporting journey. Most of UKEF’s deals support smaller businesses like Thomas Taylor’s, ensuring that entrepreneurs and owners from all over the country can benefit from international trade.”
- Intergenerational Initiative Brings Green Fingers Together
To mark Intergenerational Week (April 24th – 30th April), not-for-profit care provider, Harrogate Neighbours teamed up with RHS Garden Harlow Carr and Richard Taylor Primary School for an interactive gardening event at The Cuttings. Bringing keen gardeners from different generations together, Andrew Willocks, Horticultural Specialist at RHS Garden Harlow Carr delivered an engaging and interactive gardening activity for six pupils and residents to enjoy together at The Cuttings. Tapping into the theme ‘knowledge is flower’, which will run next week during RHS National Gardening Week at RHS Garden Harlow Carr, the children and residents worked together to plant seasonal seeds which in time will produce flowers and vegetables. 11-year-old Katie from Richard Taylor Primary School said, “The event was amazing – I loved it. My favourite part was meeting everybody, they were so kind – and I loved the garden.” 10-year-old James added, “My favourite part was planting the lettuce – I would definitely come back again to help with the gardening!” Speaking on behalf of Harrogate Neighbours, CEO, Sue Cawthray said, “We know how engaged our residents are whenever we have visitors – especially the younger generation who share similar interests." “Residents in the gardening club at The Cuttings really enjoyed picking up some top tips from Andrew." "They find gardening really therapeutic and they loved the extra help from the children.” Horticultural Specialist at RHS Garden Harlow Carr, Andrew Willocks added, “We were delighted to support such a wonderful event. It’s so important this day in age to have an outdoor area as can all enjoy – whether that’s to sit and relax in, or grow fresh fruit and vegetables.”
- Grade A Shortage Driving Up Oxford Rents
Oxford continues to see good demand for offices and laboratories, reflecting the diversity of the city’s science and tech cluster, but a lack of supply of Grade A space could send rents spiralling, says a regional property specialist. Mike Watson, Partner at property consultancy Vail Williams, believes the city has only around a year’s office and lab space supply left to support demand from the life sciences and biotech sectors. He said: “A lot of the growth in the Oxford office market has been driven by the lack of supply of Grade A office or laboratory stock, which has always been under-served here." “Given last year’s take-up figures, which were around 420,000 sq ft of lab space, there remains approximately 12 months’ worth of supply left.” Mike, who has 25 years’ commercial property experience in the city, added “This is driving rents up from the early £30s per square foot (psf) for traditional office space, to the mid-£60s psf – rising as high as £85 psf for lab space on some business parks." “The lack of availability of Grade A and super prime space could push rents on even further this year.” Mike, who works out of Vail Williams’ new Oxford office, added that last year life sciences accounted for around two thirds of overall office and lab take-up in the city." In 2023, Oxford University celebrated its 300th company creation, supported by its research commercialisation arm Oxford University Innovation (OUI), with 97 of its spinouts staying in or close to Oxford – the highest concentration anywhere in the UK. Mike added: “With a healthy pipeline of university spinouts seeking more than 10,000 sq ft of office or lab space, we will continue to see a fall in vacancy rates throughout 2024." “This lack or availability also represents an opportunity for landlords of Grade B stock to take up the slack and deliver more newly refurbished stock to market.” He said that although availability to meet client needs was sparse in central Oxford, despite the newly completed 65,000 sq ft Inventa laboratory and office building, there was better supply situated on out of town business parks. These include Begbroke Science Park, Harwell Science & Innovation Campus, Howbery Business Park, Milton Park, ARC Oxford (formerly Oxford Business Park), Oxford North (for completion), Oxford Science Park and Oxford Technology Park. “It is an exciting time for the Oxford property market, and we are looking ahead to the rest of the year with a sense of excitement and anticipation – both with office and laboratory market in mind as well as the retail property market, for which we are cautiously optimistic." Vail Williams opened its new office in Oxford in February to meet growing business demand. Forming an extension of the firm’s Thames Valley region, it is headed by Richard Dawtrey, Partner and Head of Investment.











