Laurence and Ben discuss a luxury redevelopment project in Wales, the management buyout of a historic firm and some major property schemes.
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00:00The redevelopment of a South Wales wedding venue, a management buyout of a
00:05historic marketing business in Cumbria, and some major property developments
00:09from across the UK. That's all coming up in today's business briefing.
00:18My name is Lawrence Corganan. My name is Ben Butler. Morning Ben. Morning. So we get
00:24some interesting sounding news coming out from Wales about this wedding venue.
00:28Perhaps you can tell us more? Yes, so we've got a specialist wedding group.
00:31It's revealed that one of its South Wales venues will be redeveloped into a
00:35five-star tourism destination. That'll be from 2026. So the Old
00:40Walls Collection said that one of its Gower venues, Old Walls Gower, will no
00:45longer perform weddings. And instead it will re-emerge as a luxury
00:49tourism destination. So that will satisfy the staycation market. And it
00:55would also serve as overspill accommodation for wedding guests of
00:59Ferry Hill, as well as other venues in the wedding destination area. And the
01:05group said the change will allow it to focus on its two flagship wedding venues.
01:09So Ferry Hill being one of them. And St. Fride House. Well the Old Walls Gower
01:14will be redeveloped to appeal to the new staycation market. And until 2026 it'll
01:21be business as usual. Right. And Old Walls Gower have vowed also to deliver
01:26all its 2025 weddings. So they've got all going ahead. And Gower is South West Wales?
01:31Yes, Gower is South West Wales, Swansea. So a place for you to stay when you go
01:35visiting the old family area? Yes, absolutely. I've got some family in Pembrokeshire, so not too far away from there.
01:41Fantastic. It's a nice luxury venue, yes. Yeah, well actually the talk of hotels
01:47put me in mind of our new US President, Donald Trump. Was that something you anticipated, Ben?
01:53I wasn't sure really, because it was neck-and-neck, like 50-50. Could have gone either way.
02:00But in the end, Trump won quite comfortably, didn't he? He did. And you know, we'll wait and see how
02:06that pans out for not just the UK economy, but globally. So it's going to make for an interesting ride if his previous presidency is anything to go by.
02:15It'll certainly be an interesting four years, yeah.
02:17Yeah, and actually, I mean, lots of people have discussed how it will impact deal-making, because we've seen lots of US firms and US private equity firms
02:27coming in and acquiring UK businesses. It'll be interesting to see if that trend continues.
02:31Definitely.
02:32We do have a story from the deal-making sector. It's all English. It relates to the management buyout of H&H Reeds.
02:43Right, OK.
02:44Now, they're a historic business based up in Penrith and with an outpost in Carlisle.
02:49When do they date back from?
02:51Well, they're 1878, would you believe?
02:53From nearly 150 years.
02:54Yeah, no, outstanding sort of business in terms of longevity. And H&H Group, the wider business, has sold H&H Reeds to management.
03:06They provide print signage and digital marketing services, and they've been part of the wider group since 2010.
03:14So I think this deal is a chance for management to put their own stamp on it and take things forward.
03:19Sounds like great news there.
03:20Yeah, interesting one. And actually, staying in the North West, we've got a really interesting job-creating property scheme.
03:28Oh, it's good to hear.
03:29Yeah, no, Firham. They've lodged plans for...
03:33Very active, they are.
03:34They are very active, yes, and they've lodged plans for a 1.3 million square foot logistic facility.
03:39That's huge, that is, yeah.
03:40Yeah, near Chorley, where they've already got investments in that area.
03:43Quite a lot going on in Lancashire then.
03:45Yeah, and this scheme, which is located near off Junction 3 of the M65, it apparently has the capacity to generate 1,300 jobs.
03:56So great to see that investment for Lancashire.
04:00Yeah, yeah.
04:01Fantastic. And sticking with property, you've got some news coming from Cardiff.
04:06Yeah, there's some quite big planning items on the Cardiff Council Planning Committee agenda, the meetings later today.
04:13Right.
04:14And the first application concerns a former college site.
04:18It's the old Michelston College within the Ely district of the city.
04:24Okay.
04:25The application site's around 22 acres of land, and essentially the plans are for a residential development and a well-being village that would include, like, a GP surgery and things such as that.
04:39There'd also be 107 community living units and 128 open market homes and apartments.
04:47So, yes, those plans have been recommended to be granted...
04:50Great use of the space, it sounds like.
04:53And, yep, great use of the space, like you say.
04:56Good stuff.
04:57There's always a need for housing and health provision.
05:00Yeah, and it's great to see Cardiff and Swansea similar, isn't it?
05:04Lots going on in both those major cities.
05:06Absolutely. And there's also another item on the agenda, outline plans for up to 650 homes on a huge 96-acre site.
05:17They, again, could soon secure approval.
05:20So, Castle Irmanic Estate seeking outline planning permission from the Development on Land at Clague.
05:26Right.
05:27And proposed, as I've said, is up to 650 homes, and there'd be public open space as well.
05:32So, that would include gardens, green corridors, and amenity green space.
05:37There'd also be four play areas, semi-natural and natural open space, and woodland as well.
05:42So, a recommendation has been made to grant planning permission subject to conditions for that one as well.
05:49Fantastic. Well, actually, Cardiff's one of the places where we're suggesting to my daughter to way up university.
05:54Right.
05:55It's a great city.
05:56It is. I've been a couple of times for rugby, actually.
06:00Yes, I've been to the Millennium Stadium to watch Wales.
06:02Fantastic.
06:03In Scotland, the Six Nations.
06:05Excellent, excellent.
06:06Well, to find out more about the stories we've been talking about, go to insidermedia.com.
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06:18That's everything from us. See you next time.