Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Comments
Bookmark
Share
Add to Playlist
Report
Watch: Insider's Business Briefing - 21st January 2025
Insider Media
Follow
21/01/2025
Laurence and Stephen discuss successful results for a prominent law year, a first tenant for a landmark redevelopment and investment plans at Belfast Harbour.
Category
🗞
News
Transcript
Display full video transcript
00:00
A successful year for a prominent law firm, a first tenant at a landmark redevelopment
00:06
and investment plans for Belfast Harbour.
00:09
That's all coming up in today's Business Briefing, sponsored by Shawbrooke.
00:18
My name is Lawrence Kilgannon.
00:19
I'm Stephen Favreau.
00:20
Right.
00:21
Morning, Stephen.
00:22
Morning.
00:23
So Belfast Harbour, a huge part of the city.
00:26
Perhaps you can tell us what's lined up there.
00:28
So yeah, they've revealed some really exciting investment plans, planning to invest more
00:34
than 300 million in capital projects over the next five years.
00:38
That's including the port itself and the wider estate.
00:43
Within that, that's 208 million going into the port itself and 105 million into the harbour
00:49
estate and waterfront.
00:51
What is the nature of the plans?
00:53
Well, they actually include the biggest investment project ever undertaken by Belfast Harbour,
00:58
which is a 90 million investment in a new deepwater quay that would be able to accommodate
01:04
some of the world's largest cruise vessels and would also help it boost its capacity
01:10
with the manufacture of offshore wind turbines.
01:13
All right.
01:14
OK.
01:15
So currently, they accept cruise ships, but this will allow them to track the bigger ones.
01:20
Because, I mean, they are like floating cities now, aren't they?
01:23
It's a big, massive hotel on the water.
01:26
And that's phase one of the project now, is the works to allow the large cruise vessels.
01:33
I mean, cruise tourism is already a big area for the harbour worth up to 25 million a year.
01:41
Then phase two of that project would then be for the offshore wind turbines.
01:45
Right.
01:46
I see.
01:47
So you mean that that will allow them to be constructed there and taken out?
01:50
Because, of course, it's well located.
01:52
That's the idea.
01:53
Yeah.
01:54
Obviously, the offshore wind is an ever-growing area.
01:55
So it makes sense to invest in that and support the construction of the new farms.
02:01
Excellent.
02:02
And Belfast, have you been to the city?
02:04
I can't say that I have now.
02:05
No, I haven't.
02:06
It's certainly something that's on my agenda.
02:07
And actually, talking of cruise ships, I think they also take ferry ships from the northwest.
02:14
Stena has a connection there.
02:16
So one day, I'm sure I'll get there.
02:19
Anyway, we've also got news on law firm results.
02:21
Very popular stories with our readers.
02:23
And Shakespeare Martineau has filed some results where their revenue has gone over £100 million.
02:30
So a successful year in terms of revenue.
02:33
The firm's posted results for the year to April 2024, with revenue rising to £104.2
02:39
million, alongside an increase in profits there.
02:43
That was all for a year when the firm's average workforce went up from 920-ish to more than
02:50
1,000.
02:51
So exciting times at Shakespeare Martineau, who we're involved in across a wide range
02:58
of specialisms, but also deals, which we deal with.
03:02
Obviously, you're familiar with them from our advisors that we like to cover.
03:06
Exactly.
03:07
And talking of deals, you've got news of a Yorkshire deal.
03:11
Yes, that's right.
03:12
We've got a management buyout completed at an electrical wholesaler, AA Jones Electric.
03:16
So the company was founded in 2009, supplies equipment for domestic and commercial use,
03:23
as well as industrial automation and controls.
03:25
The company currently employs about 20 staff and stocks more than 12,000 product lines.
03:32
Following the buyout, control of the business has gone to co-founder Andy Moulds, who's
03:36
the sales director, and a longstanding employee, Sam Lomax, who has now become the managing
03:41
director.
03:42
Right.
03:43
Another founder, Ian Weyman, has retired, while Tony Moore, the third of the founders,
03:48
will remain as the finance director.
03:49
And where's the funding come from for the deal?
03:52
So that's come from Mercia.
03:53
Mercia has provided half the funding through its SME loan funds, and that's supported
03:56
the MBO itself.
03:58
The remainder is coming from the Northern Powerhouse Investment Fund too, and that is
04:02
going to support the business growth plans, targeting expansion of its range and is hoping
04:08
to create jobs as well.
04:09
Excellent.
04:10
Well, they've been very active recently.
04:12
I'm sure we get peaks and troughs, but NPIF too, certainly responsible for lots of deals
04:16
both in Yorkshire and the Northwest and up in the Northeast too.
04:22
We've also got news of a first tenant signing up for a landmark redevelopment in Wigan,
04:27
which is great news.
04:28
It's the redevelopment of the Civic Centre in the town.
04:34
As you know, it's one thing getting these plans in, doing the work, but then of course
04:39
getting the tenants to commit to it is a sign that it's working.
04:42
And these plans are being brought forward by Capital and Centric.
04:46
The building is now Civic, sustainability to the fore.
04:52
It's kind of like a brutalist building, so a bit of a landmark, but it'll be disused.
04:56
So this is giving it a new lease of life, which is very much in line with what Capital
05:01
and Centric do.
05:03
And they're delighted that IT business Agilisys has signed a deal for more than 4,000 square
05:09
foot.
05:10
And they've taken, I think, a large part of the second floor.
05:12
So great news for Capital and Centric that their vision is being bought into by occupiers
05:18
now.
05:19
Anyhow, to find out more for the stories we've been discussing today, go to insidermedia.com.
05:24
There, you can sign up to our newsletters, you can sign up to our magazines, and you
05:29
can also find out about upcoming events.
05:32
That's everything from us.
05:33
See you next time.
Recommended
2:11
|
Up next
Brian Lakin of Sigma 3 Kitchens
Insider Media
24/06/2025
0:30
Disney On Ice presents Find Your Hero - coming to Utilita Arena Sheffield
National World - Sponsored Content
04/06/2025
7:50
Watch: Insider's Business Briefing 19th February 2025
Insider Media
19/02/2025
5:45
Watch: Insider's Business Briefing - 3rd April 2025
Insider Media
03/04/2025
4:27
Watch: Insider's Business Briefing - 29th January 2025
Insider Media
29/01/2025
5:10
Watch: Insider's Business Briefing - 24th January 2025
Insider Media
24/01/2025
5:21
Watch: Insider's Business Briefing - 19th December
Insider Media
19/12/2024
5:43
Watch: Insider's Business Briefing - 18th February 2025
Insider Media
18/02/2025
1:20
'Single biggest investment project in Belfast Harbour’s history': Northern Ireland construction firm to begin landmark £90m marine project to power cruise tourism and offshore wind
News Letter
28/04/2025
5:22
Watch: Insider's Business Briefing - 5th March 2025
Insider Media
05/03/2025
3:46
Watch: Insider's Business Briefing - 14th February 2025
Insider Media
14/02/2025
4:38
Watch: Insider's Business Briefing 31st March 2025
Insider Media
31/03/2025
3:25
Watch: Insider Business Briefing - 17th July
Insider Media
16/07/2024
4:46
Watch: Insider's Business Briefing - 25th October
Insider Media
24/10/2024
4:33
Watch: Insider's Business Briefing - 28th January 2025
Insider Media
28/01/2025
4:05
Watch: Insider's Business Briefing - 20th February 2025
Insider Media
20/02/2025
4:08
Watch: Insider's Business Briefing - 6th March 2025
Insider Media
06/03/2025
4:51
Watch: Insider's Business Briefing - 21st May 2025
Insider Media
21/05/2025
1:40
Take a look around: Ballymena construction firm completes £6.5million restoration of a 200-year-old Northern Ireland Courthouse building
News Letter
10/10/2024
6:18
Watch: Insider's Business Briefing - 11th September
Insider Media
10/09/2024
5:15
Watch: Insider's Business Briefing - 13th August
Insider Media
13/08/2024
10:56
Jack Roper and Nick Jones: Rathbones, incorporating Investec Wealth & Investment (UK)
Insider Media
09/01/2025
1:06
Tughans invests in future with new headquarters in the Ewart
National World - Other Local Sites
12/12/2022
4:32
Watch: Insider's Business Briefing - 28th March 2025
Insider Media
28/03/2025
4:33
Watch: Insider's Business Briefing - 25th April 2025
Insider Media
25/04/2025