Business in East Anglia

Keen appetite for warehouse space keeps industrial property sector ahead

Firms’ appetite for new industrial units has stayed ‘keen’ in the region during the lockdown with a steady take-up of warehouse units by both manufacturers and retailers involved in internet shopping. The Peterborough office of agent Barker Storey Matthews has seen a constant take-up of smaller warehouse units in the past two months particularly at two newly-built speculative developments, Heron Court in Yaxley and at Merlin Court in Market Deeping, due for completion in June. Demand has also come from ‘green’ businesses such as electrical contractors and component suppliers ...

Business activity plummets but hopes surface for recovery

Private sector business activity in the East plunged in April according to a key survey of purchasing managers although sentiment in the region actually improved as hopes for a recovery rose when the virus crisis measures are relaxed. The East of England was one of five UK regions where optimism on future output improved during April, alongside Wales, the West Midlands, the South West and the South East. But as the demand for goods and services in the region collapsed at the start of the second quarter, the NatWest East of England business activity index fell at the fastest rate since ...

Profit warnings jump but East fares better than other regions

Seven profit warnings were issued by East of England publicly quoted businesses in the first quarter, more than double the number recorded in the period last year (three) and the highest since 2005 but still the joint-fewest number of any UK region.

Stuart Wilkinson, office managing partner at EY in the East of England, said: "The sectors issuing the highest number of profit warnings were those most exposed to the impact of national lockdowns and in many cases were already showing signs of stress. COVID-19 has created new problems, but it has also accelerated existing structu...

£10m package launched to help Norfolk and Suffolk businesses

A new business resilience and recovery funding scheme has been launched as part of a £10 million package from New Anglia LEP to support Norfolk and Suffolk businesses through the pandemic and into recovery. The new £3.5 million resilience and recovery scheme will provide grants to support short-term projects and longer-term recovery and diversification projects.

The package also includes a new ‘growth through innovation fund’ to support firms investing in R &D with grants from £1-25,000 and a growing business fund which will provide capital grants from £25-500,000. Meanwhile a fun...

Planning sought for 2.3 m sq ft business park at Stowmarket

A development manager has been appointed and a planning application is set to be submitted later this year for Gateway 14, a major mixed-use business park scheme near the A14 at Stowmarket in Suffolk . Jaynic has been appointed development manager for the scheme and has signed a 15 year development agreement with Gateway 14 Ltd., a subsidiary of Mid-Suffolk District Council, to enable a phased development on the project. It will involve 2.3 million sq ft of business, logistics and commercial space being built on a 156 site with the first buildings being available in 2021/2. Gateway 14,...