In Brief: Taylor & Emmet; Insolvency Service; Grants scheme to revive the high street; Welcome Break and Waitrose; Humber ports
TAYLOR & Emmet’s corporate team has advised LMB Hillcrest Home on its acquisition of Hillcrest Residential Home in Leeds.
The advice was provided by Peter Crawford and Caroline Thomas. Max Marrison dealt with the commercial property aspects of the deal.
Hillcrest Residential Home provides residential care for elderly residents. Lisa Bolger, a director of LMB Hillcrest Home, said: “Hillcrest Residential Home provides a great example of how residential care should be provided. I am looking forward to building on the home’s already first class reputation.”
Corporate finance advice was provided by Rob Hanney of Knowles Warwick. The transaction was funded by HSBC Bank.
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ANTHONY Kellett, a bankrupt, has been sentenced to two years imprisonment for failing to disclose cash and payments.
Kellett, from South Yorkshire, failed to disclose cash of more than £33,000 in his estate at the time of the bankruptcy and failed to account for payments totalling more than £97,000 out of personal bank accounts in the 12 months before he became bankrupt.
He was sentenced by HHJ Kelson Q.C. at Sheffield Crown Court and the sentence follows an initial investigation by the Insolvency Service and a further investigation and prosecution by the Department for Business, Innovation and Skills.
Deputy chief investigating officer, Mike Williams, with the Department for Business, Innovation and Skills, said: “This sentence is a reminder to other potential offenders that in bankruptcy, there are severe penalties for failing to provide a full and honest disclosure to the Official Receiver.”
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A NEW grants scheme to help revive the high street has been proposed in East Yorkshire.
East Riding Council leader coun Stephen Parnaby plans to set up the scheme. He said: “During visits to several towns/areas that benefited from what became known as Portas grants, I have seen some real improvements from a relatively small amount of grant money. Communities have become involved and benefited. I am now seeking to introduce a similar grant scheme across the East Riding with some form of matched funding to benefit local economies.
“I have asked council officers to look at a scheme and how it could be funded and am confident this can be a good way of giving further support to local enterprises and communities.”
A second proposal has also been announced by coun Parnaby to establish a regeneration fund to give added impetus to economic development in the area and put the East Riding in a strong position to benefit from national or European funding opportunities where matched funding from the council would be expected or required.
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WELCOME Break and Waitrose are creating up to 20 jobs with the opening of a retail store at Hartshead Moor westbound services.
Rod Mckie, CEO of Welcome Break, said: “The relationship between Welcome Break and Waitrose continues to go from strength to strength, and this new store at our Hartshead Moor services on the westbound carriageway of the M62 is just the latest in our ongoing expansion plan, creating a total of 20 jobs for the local community. The Waitrose stores we have opened at our other sites in the north have proved incredibly popular, and we believe this new store will also become a real customer favourite.”
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A NEW report on UK shipping has revealed that eastern Channel routes are likely to build on their dominance in serving European trade, despite the Humber’s continued prominent role.
The UK Short Sea Freight RoRo and LoLo Capacity Analysis and Report for 2013/2014, from PRB Associates, shows that Channel services, including Channel Tunnel services now represent 44% of the total UK short sea market capacity for roll-on, roll-off (RoRo) and lift-on, lift-off (LoLo) services.
Peter Baker, managing director of the Grimsby-based consultancy, said: “There are clear indications that capacity handled and market share will increase still further at ports such as Dover, and at EuroTunnel, especially when the impact of low sulphur fuel legislation kicks in from 2015 in the North Sea and Channel.
This trend could also take critical mass away from future ‘PortCentric’ development at other UK ports.”
There were some bright spots for the Humber ports, including Immingham, which has strengthened its position handling short sea capacity in the Scandinavian and Baltic market. The Humber Sea Terminal at Killingholme, meanwhile, has retained its premier position for ferry capacity serving the Near Continental market, which it gained from Harwich in 2012.
Overall, the report reveals the combined Humber ports of Hull, Immingham and Killingholme hold 13.4% of the total UK capacity market share for RoRo and LoLo. This places the Humber just ahead of EuroTunnel, but lagging Dover, which tops the table for 2014 with 26.5% of the short sea market capacity.
