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New hotel man backs city
Corporate demand for hotels in Sheffield is strong, the chief executive of the latest hotel chain to invest in a city has claimed. Speaking about Jury’s Inn’s £19m 259-room hotel, which is expected to open in January, chief executive John Brennan told Insider: “We look for markets with strong corporate demand and where there’s a good leisure and family market as well.” He said the new business district outlined in Creative Sheffield’s masterplan was a key factor in the mix, and he wasn’t unduly concerned about its slow progress in getting off the ground. “We want to be in Sheffield as a first choice,” he said. “All these things in the current environment are moving slower than normal, and I’m sure the plan will come to pass as it was envisaged.”
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Union cafe sold
Sheffield University Students' Union has sold its Coffee Revolution café on Ecclesall Road to new owner-operators. The Union will continue to run its Western Bank branch and new owners Helen and Emily West will continue to license the Coffee Revolution name from the Union, which was advised by DLA Piper. 
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SIG to cut 900 jobs
SIG is cutting 900 jobs to reduce costs and closing 65 trading locations after the downturn in construction reduced its second-half turnover by 2.2 per cent. The company warned profits were likely to be at the lower end of market expectations as it had seen even less activity in new residential construction in the UK and Ireland in the past four months than in the first half of 2008. But its core markets of non-residential construction and non-construction industrial insulation – about two thirds of turnover – have shown more resilience. The restructuring is expected to save the group £25m in 2009.
Meadowhall drops in value
British Land has seen Meadowhall fall 7.4 per cent in value to £1.4bn, despite visitor numbers increasing by more than 3 per cent. The company said in its interim management statement for the six months to 30 September 2008 that its shopping centres, accounting for 16.5 per cent of its portfolio, fell 8 per cent in value. The company’s entire portfolio showed a drop of 10.8 per cent in value, which has caused it to report a £1.33bn pre-tax loss. Chairman Chris Gibson-Smith said: “While values have been marked down reflecting further softening in prime yields, our high occupancy levels and long leases, plus a diversity of tenants and industries, ensure cash flow security.”
Rensburg Sheppards keeps head high
Wealth management firm Rensburg Sheppards claims it is well placed to ride out the downturn in the markets despite its funds under management dropping by 11.6 per cent, or £1.5bn, in the six months to the end of September. The group says this fall compares with a 15.1 per cent drop in the FTSE All Share indices over the same period, and a 9.5 per cent drop in the FTSE APCIMS private investor’s index. Pre-tax profits in the same period rose by £1.4m to £16.4m. But adjusted profits actually dropped by £400,000 to £19.7m, once exceptional charges are taken into account. These included charges relating to the Employee Benefit Trust of Carr Shephards Crosthwaite, which Rensburg merged with to form the company in 2005.
Capita to deliver business services
The Capita Group has been selected as preferred bidder by Sheffield City Council to deliver a partnership to drive business transformation. Capita will deliver a range of services including ICT, revenue, benefits and cashiering, HR and payroll, and financial business transactions in the contract, expected to be worth £200m over seven years with the option to extend by three further two-year periods. The strategic partnership will involve 50 staff from the council and 450 from the previous provider to Capita.
Yorkshire Forward defends arena plan
Yorkshire Forward is defending its decision to help fund the new Leeds arena despite objections from the region’s only other major concert venue. Steve Brailey, chief executive of Sheffield International Ventures (SIV), says the proposed 12,500-seater arena could seriously jeopardise the 13,000-seater Sheffield Arena, which Live Nation runs on SIV’s behalf. Brailey said: “Yorkshire Forward should not be funding an investment in one part of our region that will seriously damage the business of an existing venue.” Yorkshire Forward could not say how much support it would give the arena, whose design is still to be decided. But a spokesman said the Leeds arena would have a different focus from the sports-dominated Sheffield Arena. “It will support the growth of Leeds and complement the city and the region’s cultural offering,” he said.
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GVA sells Carter office
GVA Grimley has sold Carter & Carter’s Sheffield office in a £1.53m deal. Earlier this year the training provider and its trading subsidiaries filed for administration and GVA Grimley was appointed by administrator Deloitte to market the 10,000 sq ft property located on the Quayside.
Browns appointed on Gateway
Landmark Development Projects and Quest Property have appointed Browns Construction to build the 110-bedroom Premier Inn hotel and associated bar and restaurant within the £70m Gateway Plaza scheme in Barnsley. Browns will be starting work in the new year. The five-storey hotel is scheduled to be open in late 2009.
Neuro offices in Sheffield
Neuro Partners, which supports people with brain injuries, has opened its third office in Sheffield’s The Quadrant, bringing 70 jobs to the city in the first year. The company has offices in the Tees Valley and Cumbria, and has opened in Sheffield since getting referrals in Yorkshire. Managing director Jonathan Wade said Neuro Partners aims to expand by one region per year for the next ten years and each new region will account for £750,000 turnover in the first year.
TLB gets flexible
With flexibility said to be the key in doing deals in the downturn, Doncaster-based TLB Properties is marketing serviced offices at the refurbished grade-II listed No 1 Cavendish Court on South Parade from £100 a week. The first tenant is already in place. Chief executive Nadeem Shah said: “In addition to the office suites we’re also offering serviced meeting rooms for as little as £30 per half-day and what we believe will rapidly become Doncaster’s premier small conference venue.”
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3i face for SYIF
South Yorkshire Investment Fund (SYIF) has appointed new portfolio manager Debbie Sorby from 3i. Sorby worked as a portfolio executive at the private equity firm for more than ten years.
AMS expands property team
Ashton Morton Slack has appointed Bryony Shaw to its commercial property team.
Shaw has worked for Irwin Mitchell and Nabarro in Sheffield.
u-xplore expands
Rotherham-based educational software company u-xplore has appointed Simon Calderbank as national sales manager. Calderbank has more than 12 years’ sales experience in the education sector with companies such as Lego and Netmedia Education.
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