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Top story
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Controversial Ashton Gate plan gets go-ahead
Sainsbury’s has defied council officers by getting planning permission for its controversial Ashton Gate development. Planners had recommended the scheme for refusal because of the negative impact it would have on local traders. But last night councillors deliberated for three-and-a-half hours before going against their advice and giving the scheme the nod.
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Property
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Cubex buys West Gate
Bristol-based commercial property developer Cubex has bought West Gate, a vacant city centre office building, from Aviva Investors. The commercial property developer usually builds offices from scratch but said West Gate was viewed as a “new opportunity” to refurbish an existing property.
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Lovell to refurbish Cheltenham homes
Lovell has been awarded a one-year contract to refurbish 80 council-owned homes managed by Cheltenham Borough Homes (CBH).
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Plunkett Yates launches in Exeter
Accountancy firm Plunkett Yates has been launched in Exeter by Richard Plunkett and Brian Yates. Both are ex-partners of Milsted Langdon, which has offices in Bristol, Taunton and Yeovil.
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Business
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Orders rise to £1.8bn at Cobham
Dorset-based aerospace and defence group Cobham, has revealed a rise in orders and revenue for the year to 31 December 2010. The business said its underlying profit has gone from £295m in 2009 to £306m in 2010.
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Unite reduces debt by selling assets
Bristol-based Unite, the student accommodation provider, has reduced net debt by £55m. The company said the cut in debt, confirmed in its end-of-year filing, was made possible largely by selling £146m of assets to UNITE UK Student Accommodation Fund (USAF), its multi-investor fund. Much of the remaining money raised was reinvested in development projects. With the cut in debt, the company’s net debts stood at £335m at the close of 2010.
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Ashfords advises on £48m PFI project
Exeter-based Ashfords has advised Balfour Beatty Capital on its £48m North West Fire and Rescue Services PFI project. This project is the largest fire and rescue services PFI to date.
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Bruton Knowles makes commercial team appointment
The Gloucester office of property consultant Bruton Knowles has appointed Angus Jackson to its commercial team. Jackson joins Bruton Knowles as senior commercial valuer from chartered surveyor Sidney Phillips where he worked for seven years.
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Construction hits eight-month high
The construction industry jumped to an eight-month high in February, according to the latest Markit/CIPS Purchasing Managers' Index (PMI). The figures have boosted hopes that the UK economy will return to growth.
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Oil rises will hit airline profits, warns Iata
Airlines will experience a 50 per cent drop in combined profits because political unrest in the Middle East has caused oil prices to rise. The warning has come from trade body International Air Transport Association (Iata).
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