Water deregulation provides a fantastic opportunity for 1.2 million businesses in England to trim their overheads and save around 10% or more on their water bills.
Utilitywise estimate savings of over £200m are available on a national scale.
However, recently published statistics by MOSL (the Market operator) show that the much heralded ‘#Openwatermarket’ is failing small businesses especially and switching is actually decelerating.
a. Only 2% (61k) of the 2.6m water meters have switched in the first 6 months
b. This equates to less than 1% of businesses, as focus has been on larger corporate businesses with hundreds/thousands of meters in their estates.
c. The number of meter switches fell 31% in the second quarter to just 25,010
d. At this rate it will take until 2039 for all businesses in England to switch water supplier
Utilitywise would like Ofwat to be empowered by DEFRA to make the necessary changes that the water market needs.
WHAT POLICIES DO WE WANT FROM GOVERNMENT?
Utilitywise’s four-point plan to make the water market truly open, honest and competitive calls for:
1. Enforced standardised and simplified pricing that is published in the public domain, giving businesses the chance to easily compare like-for-like water contracts and ensure all retailers are making prices available to out of region customers.
2. Ensure that customers receive clear offers and tariffs from retailers no matter their location, by standardising the use of customer data held in MOSL, the central customer database used by the industry.
3. Improved levels of understanding amongst businesses, encouraging them to review their current water contracts, and how to assess different options available.
4. A review and assessment of the Scottish Water market conditions, to deliver comparable margins available to retailers to make competition come to life
To get a better deal for your business water, click here.
Research finds 64% anticipate economic downturn, but 60% confident employers will adapt
UK workers are showing significant resilience in the face of Brexit uncertainty, according to research commissioned by international law firm Pinsent Masons.
According to the survey of workers in large businesses, conducted by Yugo on behalf of the firm:
• Almost two thirds of workers (64%) believe there is a realistic prospect of an economic downturn within the next three years as a result of Brexit.
• Around 1 in 3 workers (36%) felt it likely they could lose their job as a result, while 2 in 3 (65%) thought it likely people they knew could lose their jobs.
• While 37% thought it likely their employer will increase pay to offset inflationary impact over the next 12 months, the majority (57%) expected their real pay to fall this year even though economic growth is tipped to accelerate.
• Despite that, almost 60% of workers surveyed were confident that their employer is well-placed to react to economic difficulties arising from Brexit, compared to just 14% who did not feel confident.
Scottish workers surveyed were more pessimistic compared to their UK counterparts the survey revealed.
North of the Border 76% believe an economic downturn as a result of Brexit is likely or very likely, while 60% of Scots workers think it unlikely they will receive a pay rise within the next 12 months to offset the impact of inflation.
Scottish based workers shared the same view as Londoners in thinking there was a realistic possibility of losing their jobs if there was an economic downturn (41%) but those in the Midlands were more upbeat with only 30% taking that view.
Regardless of economic factors, the survey revealed UK workers seem determined to tough it out, with 92% of workers saying they were unlikely to leave the UK in the next 12 months as a result of Brexit.
EU citizens (15%) were less assured and appeared to be twice as likely relocate abroad as UK nationals (8%).
However, the likelihood of workers leaving the UK after 2-3 years was somewhat higher – suggesting that some workers may await the outcome of Brexit negotiations before making a final decision about relocation.
Guy Lougher, Head of the Brexit Advisory Team at Pinsent Masons, said: “On the whole the UK workforce is demonstrating resilience, anticipating a downturn but retaining a level of confidence in their employers.
“What is particularly interesting is that, those workers who felt their businesses were not open about the impact of Brexit on the business were more likely to be fearful about the prospects for the future. Of those who described employer communications around the referendum as poor, 1 in 10 said they would be likely to leave the UK within the next twelve months.
“Conversely, those who rated the communications of their business highly were notably more confident about the ability of the business to react to the challenges and opportunities afforded by Brexit.
“There is a clear message to UK Plc that they need to plan ahead for the business, despite the attendant difficulties in doing so, and communicate openly about those plans with their people to engage and retain talent.”
Since the Brexit referendum last June Pinsent Masons has worked with a former military intelligence analyst to help several blue-chip companies anticipate and plan for different scenarios during and after Brexit negotiations. The firm has also launched a corporate ‘crowd funded’ advisory platform called BASe, developed an AI-enabled contracts review system and launched a Public Policy unit to support businesses in engaging with government on Brexit issues.
Global chain MGM Muthu Hotels, which already has a strong foothold in the UK, has moved into the Scottish market, with the acquisition of five prominent hotels, in a deal facilitated by property firm Colliers International.
The largest deal sees Ian Cleaver’s Highland Heritage Limited sold, from the asking price of offers in excess of £4.5m, to Singapore-headquartered MGM Muthu Group. A former merchant seaman and well-known North West businessman, Mr Cleaver started Highland Heritage in the mid-1970s, and built it into a £8m turnover company, which uses its own fleet of 16 liveried coaches to shuttle tourists to the hotels in Tyndrum, Dalmally and Oban.
The deal, in which Colliers International acted for the seller, comes shortly after the commercial property firm successfully sold another iconic Highland hotel to The MGM Muthu Group, the 63-bedroom Newton Hotel in Nairn. The Newton was once popular with Charlie Chaplin, who took numerous holidays there with his family. It was sold by Colliers on behalf of a London-based corporate owner which was seeking to rationalise its portfolio, and carried an asking price of around £4.0m plus VAT.
Alistair Letham, the Scottish Director in the UK Hotels Agency team at Colliers International, said: “These two sales to a rapidly expanding international operator are a great outcome for everyone involved. Muthu is an ambitious luxury chain which will be well positioned to further develop the potential of these excellent properties in a way that will be welcomed by the local economy. We are pleased to have used our market expertise and international connections to bring about these deals, which see businesses that have invested and grown in the Highlands reap their rewards, and properties move on to the next stage of their history and growth.”
The Highland Heritage Limited sale includes the Volvo coaches and four hotels: the 96-room Royal Hotel, which is a magnet for wildlife, with a masterful touch of stunning views, and the 132-room purpose-built Ben Doran Hotel, nestled in its own sheltered seven-acre garden in the mountain village, on the northern edge of the Loch Lomond National Park, both in Tyndrum. The Dalmally Hotel is a true haven with 99 rooms, commanding breath-taking views in the heart of Strathorchy, perfectly situated to make the most of the historical, cultural and natural delights of Argyll and Bute. The 66-bedroom Alexandra Hotel in Oban, with 26 more rooms in planning, offers gorgeous views across the Oban Bay.
Julian Troup, Head of UK Hotels Agency at Colliers International, commented: “Considerable interest was expressed for the business and assets, which follows a pattern of increasing demand for U.K. provincial hotels. We are seeing an emerging trend of increased demand for quality provincial hotel opportunities from a diverse buyer set, including international investors, who have been attracted by weaker sterling and improving trading prospects; private buyers attracted to the benefits of a lifestyle opportunity to corporate investors attracted to favourable returns and real estate alternatives. Since the beginning of 2016, over 15 per cent of U.K. hotel sales completed by Colliers were to international buyers.”
The MGM Muthu Hotels Group is known for its selection of carefully handpicked spectacular hotels, reflecting the unique character of their destinations, varying from Spain, Portugal, France, Cuba, Canary Islands, Madeira and the UK. MGM Muthu Hotels currently has 27 hotels in their flourishing portfolio, promising excellent service and a touch of home, with a holiday ambience.
Monicca Maran, Corporate Director of MGM Muthu Group and K.Ranjan, CEO of Highgate Asset Management Ltd, who assisted with the acquisitions, said “We are extremely thrilled about the five properties that spell a surreal scenery magically enveloped in the enchanting views of Scotland! Our premium service, excellent standards and charismatic hospitality entwined with the deep appreciation of the historical and cultural landscapes of the hotels will embellish our need to diversify our portfolio, to extend to the community and provide the best holiday experience to all travellers.”
The Highland Heritage sale did not include Kilchurn Castle, the 15th century redoubt of the Clan Cambell on the banks of Loch Awe, which is owned by Mr Cleaver and had been offered for sale alongside his hospitality business. It is currently managed by Historic Scotland.
Commercial law firm Maclay Murray & Spens LLP has strengthened its financial services capabilities with the appointment of Carolyn Bell, as director of its financial services group in Edinburgh.
The former in-house managing legal counsel with Lloyds Banking Group and Aberdeen Asset Management joins the firm’s financial services group, comprising over 20 lawyers, including six partners, operating across the UK-wide practice.
Carolyn Bell has over ten years’ experience in the UK and overseas investment funds sector, including the merging of asset management businesses and providing advice on regulated and unregulated investment structures. Her main areas of practice are collective investment schemes, pooled investments and financial services regulatory work. She handles onshore schemes, including authorised and unauthorised unit trusts and limited partnerships and offshore schemes, such as trusts, open-ended companies and closed-ended funds. Carolyn also has broad experience of operational matters and outsourcing arrangements in the asset management industry.
Carolyn also undertakes general financial services work, including regulatory advice, structuring and marketing investment schemes.
Guy Norfolk, partner and head of MMS’ Financial Services Group, said: “Carolyn is a highly regarded investment funds lawyer and her appointment is in line with our strategy to further strengthen our financial services offering, at a time when we are advising on a number of major transactions in the asset management space. Her significant and broad experience covering the UK and overseas asset management sectors, coupled with her specialist expertise across insurance, pensions, private equity and wealth, will be a valuable addition to the our corporate division as a whole.”
Carolyn Bell added: “I am very excited by this opportunity to join the firm’s financial services group, which has established an impressive track record in the asset management and financial services sector.”
A member of the Law Society of England & Wales, Carolyn has 16 years of experience working within the highly regulated financial and asset management services sector in both private practice and in-house counsel roles. This includes ten years in London working in mergers and acquisitions with city law firm Hammonds, before moving to Scotland in 2008, eventually going in-house, first with Lloyds Banking Group and latterly as managing legal counsel with Aberdeen Asset Management.
Carolyn Bell is a non-executive director of Queen Margaret University, Edinburgh.
Barclays has supported leading bar and club operator Attraction Inns Limited with a £1.05m funding package. The deal will consolidate the company’s position in the marketplace and provide capital expenditure to support acquisitions and future growth.
Attraction Inns owns some of the best known bars and clubs in east and central Scotland, including Movement, Opium, Pilgrim and Silk in Edinburgh and Dusk in Stirling, many of which it has operated for more than 20 years. Run by husband and wife team Robert and Michelle Orr, the company employs 150 staff across five venues.
The deal team at Barclays was led by Corporate Development Directors Malcolm Crawford supported by Lesley Barnwell and Relationship Director Gillian Lambert.
Robert Orr, Managing Director of Attraction Inns, commented: “The hospitality and leisure industry has undergone a dramatic change in the past decade but there are lots of opportunities for forward looking businesses and the banks willing to support them. We were aware of Barclays’ proactiveness in the sector and attracted by their positive approach.
“I’ve been in the business for 27 years and what has been key to this long term success is evolving with our consumers. We are moving away from the more traditional night club format to chameleon venues – those which work just as well as an eatery during the day then an after work drinks spot and a pre-club bar. Barclays shared our progressive vision.”
Jamie Grant, Head of Corporate Banking for Barclays in Scotland, said: “We have an appetite to lend to the hospitality and leisure industry which is evidenced by our strong track record of funding deals in recent years. The sector is operating in a challenging market at the moment but Scotland has a diverse H&L landscape and a burgeoning tourism industry helping drive long term success.
“Attraction Inns is a well-established business and the management team has a clear plan for continued growth which we were keen to support. We took time to understand their individual needs so that we could provide a flexible solution that worked for them and their ambitions.”
Barclays’ Scottish SME fund was launched in June 2016 to address gaps in the supply of finance for businesses in Scotland. It provides access to funding for companies across all sectors with turnover up to £25m.
A Glasgow man has won a five-star holiday to Dubai after entering a ScotRail competition earlier this year as part of its launch of the Smartcard Benefits scheme.
University of Strathclyde employee, Aidan Johnston (38) from Giffnock, was among the thousands of ScotRail Smartcard holders who entered the prize draw.
He will be jetting off with a friend from Glasgow to Dubai, where they’ll spend seven nights in a five-star hotel this June, courtesy of the ScotRail Alliance.
Aidan, a ScotRail Smartcard season ticket holder, said: “I’ve never been to Dubai but can see why so many people love the place – it seems to have everything. I’m really looking forward to soaking up the sun and just relaxing for seven days.
“I hate using paper tickets for anything and don’t like queuing so a Smartcard is perfect for me. It’s really easy to use and every month I just log in online to renew my Season Ticket.”
Cathy Craig, the ScotRail Alliance’s commercial director, said: “We launched the Smartcard Benefits scheme and this prize draw as we wanted to reward our most loyal customers, our season ticket holders, and raise awareness of the advantages of using a ScotRail Smartcard.
“Thanks to Barrhead Travel, who are a key partner in our Smartcard Benefits scheme, we’re able to send one lucky winner on the holiday of a lifetime.
“We hope Aidan has a tremendous time on this wonderful holiday and enjoys every minute of it.”
Smart ticketing technology is available across the ScotRail Alliance’s network with every route enabled for Single, Return and Season Tickets. Other products coming soon include the popular Flexipass.
Tickets for other travel providers – such as Glasgow Subway – can also be uploaded onto Smartcards, with bus companies and ferry operators scheduled to start providing integrated travel options soon.
With the support of leading brand partners, Smartcard holders who have registered through their MyScotRail account, can claim rewards from discounts on coffee and travel, to car hire and clothing.
Pictured above: ScotRail Alliance commercial director Cathy Craig and competition winner Aidan Johnston (both centre) in Glasgow Queen Street station, with ScotRail Alliance representatives.
Edinburgh-based charity the Sick Kids Friends Foundation has announced it is rebranding under the new name Edinburgh Children’s Hospital Charity (ECHC).
Although the charity – a much-loved Edinburgh institution – is to change its name, its mission to continue to raise money to buy vital equipment and services remains as important as ever.
Roslyn Neely, CEO of the ECHC, said: “Through the amazing support and fundraising of many, many people, we’ve supported the work of the Edinburgh Children’s Hospital for 25 years. But with the hospital changing to a new name, we felt this would be a positive opportunity to also update our own name.
“Aside from our name, nothing will change in terms of the work that we do. We continue to be a grant giving organisation which exists to transform the experiences of children and young people in hospital so that they can be a child first and a patient second.
“The clinical work of the hospital is world class and often ground-breaking. However, we rely completely on the public for all our donations and we still need support to help us provide the magical extras to benefit the hundreds of thousands of babies, children and young people who will be patients over future decades.”
For more information on Edinburgh Children’s Hospital Charity, please visit: www.echccharity.org
Widely-experienced valuation professional Roy Hudghton has returned in a full-time role to DM Hall, one of Scotland’s leading firms of Chartered Surveyors, as the firm’s rapid growth continues apace.
The former head of the RICS Valuation Professional Group in Scotland has been appointed as Director in the highly-regarded commercial team as the firm’s East Coast-based operation undergoes a period of unprecedented expansion.
As Head of the four-strong Edinburgh Commercial Valuation team, Roy will work closely with Michael Court, Partner and Head of East Commercial and recently-appointed Ross Wilson, Head of Agency (East of Scotland).
Roy, who qualified in 1982 and specialises in trade-related valuations, particularly in the leisure sector and the licensed trade, was a partner in DM Hall until 2008, when he left to establish his own successful consultancy business.
He re-established links with the firm in 2013 and in 2015 was appointed as head of the Valuation team in a consultant capacity.
He said: “Since the appointment of Michael Court, the firm has been going from strength to strength in the East of Scotland and I am delighted to once again be able to devote all my energies to its continuing success.
“The team has met and exceeded all its targets since 2015 and new and very ambitious targets have been set in terms of client development and margin enhancement.
“We have established much better relationships with banks, lenders and pension funds and we are now in a position where we can promote the commercial department’s undoubted expertise much more rewardingly.”
Michael Court said: “Roy has been a tremendous asset to the team in recent years and we are very pleased now to be able to call on his services on a full-time basis. His contribution as a director will be invaluable.”
Alan Gordon, Principal Commercial Partner of DM Hall based in the Glasgow office, said: “Roy Hudghton has a long and illustrious track record in professional valuation and, of course, was a valued partner in the firm for many years.
“I am sure everyone in the firm will join me in welcoming him back to a full-time role. His expertise, integrity and dedication to the profession is unrivalled and the East team will benefit hugely from his experience.”
DM Hall’s East commercial department, based in Corstorphine Road, has a staff of more than 30, covering Edinburgh, Dundee, Falkirk, Kirkcaldy and Dunfermline and including the Property Management Division in Livingston.
For further information, contact DM Hall Chartered Surveyors, 17 Corstorphine Road, Edinburgh EH12 6DD. T: 0131 477 6000. E: edinburghresidential@dmhall.co.uk. W: www.dmhall.co.uk. T: http://twitter.com/dmhallLLP.
For further information about DM Hall’s Scotland-wide network of offices, please contact Neil McKenzie, Marketing Manager, DM Hall, Unit 3, Cadzow Park, 82 Muir Street, Hamilton, ML3 6BJ. T: 01698 284939. M: 07786 362517. E: neil.mckenzie@dmhall.co.uk. W: www.dmhall.co.uk.
