Latest news with #Colliers
Scottish Sun
31 minutes ago
- Business
- Scottish Sun
Scots factory up for sale after manufacturing firm went bust with 50 jobs axed
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A SCOTS factory has been put up for sale after a firm collapsed with 50 jobs lost. Angus blinds manufacturer Stevens Scotland Ltd, which operated out of Brechin, ceased production last year. 4 Angus blinds manufacturer Stevens Scotland Ltd ceased production last year Credit: Colliers 4 The firm's 70,379 sq ft factory on Denburn Way is now on the market Credit: Colliers 4 It features meeting rooms, a canteen area, a main open plan office and a car park Credit: Colliers 4 Stevens was established in 1968 and was bought over by Hunter Douglas Credit: Colliers The facility closed on December 31, 2024. Former bosses said cost-of-living pressures and reduced consumer spending led to the decision. The firm's 70,379 sq ft factory on Denburn Way is now on the market for an unspecified price. It features meeting rooms, a canteen area, a main open plan office and a car park. Commercial property agents Colliers said: "The premises comprise a standalone steel portal frame warehouse with insulated profile wall and roof cladding. "Denburn Way is a street located in Brechin, a historic town in Angus, Scotland. "Brechin is situated approximately 15 miles north of Dundee and 35 miles south of Aberdeen. "The town is known for its rich history, including the Brechin Cathedral and the nearby Den Burn Works, a former linen mill complex established in 1864. "The area around Denburn Way features a mix of residential properties, a Lidl supermarket immediately to the west and a range of commercial businesses to the north of Commerce Street and to the east of the unit." Company documents signed last year read: "In recent years, the company has seen a decline in sales volumes attributed to the downturn in the UK economy with cost of living pressures reducing consumers' spending on their homes. Scottish firm goes bust after plunging into administration 'During 2024 the company objectives have been focused on stabilising operations, identifying core strengths and creating a road map for future profitable growth. 'This includes continuing to seek operational efficiencies within sourcing, manufacturing and central support services in order to streamline business processes and improve customer service. 'Following a review of the UK group's made-to-measure operations, Hunter Douglas, the company's parent undertaking, announced the intention to transfer the Stevens made to measure sales and manufacturing volume into another of the group's UK businesses. 'This will result in the company ceasing to trade on December 31 2024.' Stevens was established in 1968 and was bought over by Hunter Douglas, an industry giant, in 2015. The Rotterdam-based business mogul purchased Stevens after it had a turnover of £18million.
Time of India
5 hours ago
- Business
- Time of India
Real estate players eye edge data centres; infra-ready tier 2 Cities gains traction
New Delhi: The emergence of edge data centres has attracted real estate players due to the need for lower latency, real-time analysis, enhanced app performance, and business agility. By definition, edge data Centers are small, localised data processing facilities situated close to devices and end users. These centers help in enhancing performance and efficiency for real-time applications. Executives of real estate firms say that emerging hubs like Faridabad among many tier 2 cities are gaining attention for their strategic connectivity and infrastructure readiness. At the same time, tier 2 cities with abundant and affordable land are being eyed for new developments, particularly for edge data centres where proximity to local users is critical, executives say. "The growing investment in data centres--projected at $20-25 billion by 2030--is a clear sign of how digital infrastructure is becoming more central to India's growth story. This shift is gradually reshaping real estate priorities as well," Uddhav Poddar, CMD of Bhumika Group, said. "Emerging hubs like Faridabad are gaining attention for their strategic connectivity and infrastructure readiness," he added. He further elaborates that developers must now focus on "power availability, connectivity, and compliance with technical requirements that go beyond traditional commercial or industrial spaces". This means that real estate development for data centres requires a unique blend of technical expertise and strategic location planning. According to a report by real estate and investment firm Colliers, while hyperscale data centres have dominated the narrative so far, the evolution of edge data centres is on the rise. A hyperscale data center is a very large facility designed to handle massive amounts of data, compute, and storage needs, typically used by large internet companies and cloud service providers. "Interestingly, the market is expanding beyond large-scale colocation facilities and hyperscalers to edge data centres driven by increasing need for lower latency, real-time analysis, enhanced app performance, and business agility," said Jatin Shah, Chief Operating Officer, Colliers India . India's DC capacity has grown over 4X times in the last 6-7 years and stands at 1,263 MW as of April 2025 and is expected to cross 4,500 MW by 2030 with USD 20-25 billion, the Colliers report added. On the supply front, India has witnessed 859 MW of capacity addition across the top seven primary DC markets since the beginning of 2020. In terms of geographical spread, 44 per cent of the new supply since 2020 was concentrated in Mumbai. This was followed by Chennai and Delhi NCR, which together accounted for 42 per cent of the capacity addition since 2020.
India Gazette
21 hours ago
- Business
- India Gazette
Real estate players eye Edge Data Centres; infra-ready Tier 2 Cities gain traction
New Delhi [India], June 1 (ANI): The emergence of edge data centres has attracted real estate players due to the need for lower latency, real-time analysis, enhanced app performance, and business agility. By definition, Edge Data Centers are small, localised data processing facilities situated close to devices and end users. These centers help in enhancing performance and efficiency for real-time applications. Executives of real estate firms say that emerging hubs like Faridabad among many tier 2 cities are gaining attention for their strategic connectivity and infrastructure readiness. At the same time, Tier 2 cities with abundant and affordable land are being eyed for new developments, particularly for edge data centres where proximity to local users is critical, executives say. 'The growing investment in data centres--projected at USD 20-25 billion by 2030--is a clear sign of how digital infrastructure is becoming more central to India's growth story. This shift is gradually reshaping real estate priorities as well,' Uddhav Poddar, CMD of Bhumika Group, said.'Emerging hubs like Faridabad are gaining attention for their strategic connectivity and infrastructure readiness,' he added. He further elaborates that developers must now focus on 'power availability, connectivity, and compliance with technical requirements that go beyond traditional commercial or industrial spaces'. This means that real estate development for data centres requires a unique blend of technical expertise and strategic location planning. According to a report by real estate and investment firm Colliers, while hyperscale data centres have dominated the narrative so far, the evolution of edge data centres is on the rise. A hyperscale data center is a very large facility designed to handle massive amounts of data, compute, and storage needs, typically used by large internet companies and cloud service providers. 'Interestingly, the market is expanding beyond large-scale colocation facilities and hyperscalers to edge data centres driven by increasing need for lower latency, real-time analysis, enhanced app performance, and business agility,' said Jatin Shah, Chief Operating Officer, Colliers India. India's DC capacity has grown over 4X times in the last 6-7 years and stands at 1,263 MW as of April 2025 and is expected to cross 4,500 MW by 2030 with USD 20-25 billion, the Colliers report added. On the supply front, India has witnessed 859 MW of capacity addition across the top seven primary DC markets since the beginning of 2020. In terms of geographical spread, 44 per cent of the new supply since 2020 was concentrated in Mumbai. This was followed by Chennai and Delhi NCR, which together accounted for 42 per cent of the capacity addition since 2020. (ANI)
India Gazette
21 hours ago
- Business
- India Gazette
Real estate players eye Edge Data centres; infra-ready Tier 2 Cities gains traction
New Delhi [India], June 1 (ANI): The emergence of edge data centres has attracted real estate players due to the need for lower latency, real-time analysis, enhanced app performance, and business agility. By definition, Edge Data Centers are small, localised data processing facilities situated close to devices and end users. These centers help in enhancing performance and efficiency for real-time applications. Executives of real estate firms say that emerging hubs like Faridabad among many tier 2 cities are gaining attention for their strategic connectivity and infrastructure readiness. At the same time, Tier 2 cities with abundant and affordable land are being eyed for new developments, particularly for edge data centres where proximity to local users is critical, executives say. 'The growing investment in data centres--projected at USD 20-25 billion by 2030--is a clear sign of how digital infrastructure is becoming more central to India's growth story. This shift is gradually reshaping real estate priorities as well,' Uddhav Poddar, CMD of Bhumika Group, said.'Emerging hubs like Faridabad are gaining attention for their strategic connectivity and infrastructure readiness,' he added. He further elaborates that developers must now focus on 'power availability, connectivity, and compliance with technical requirements that go beyond traditional commercial or industrial spaces'. This means that real estate development for data centres requires a unique blend of technical expertise and strategic location planning. According to a report by real estate and investment firm Colliers, while hyperscale data centres have dominated the narrative so far, the evolution of edge data centres is on the rise. A hyperscale data center is a very large facility designed to handle massive amounts of data, compute, and storage needs, typically used by large internet companies and cloud service providers. 'Interestingly, the market is expanding beyond large-scale colocation facilities and hyperscalers to edge data centres driven by increasing need for lower latency, real-time analysis, enhanced app performance, and business agility,' said Jatin Shah, Chief Operating Officer, Colliers India. India's DC capacity has grown over 4X times in the last 6-7 years and stands at 1,263 MW as of April 2025 and is expected to cross 4,500 MW by 2030 with USD 20-25 billion, the Colliers report added. On the supply front, India has witnessed 859 MW of capacity addition across the top seven primary DC markets since the beginning of 2020. In terms of geographical spread, 44 per cent of the new supply since 2020 was concentrated in Mumbai. This was followed by Chennai and Delhi NCR, which together accounted for 42 per cent of the capacity addition since 2020. (ANI)
Daily Mail
21 hours ago
- Business
- Daily Mail
The double council tax loophole that will cost councils £334million - as locals in second home hotspots 'pay the price'
Second home owners dodging the double council tax bill is set to cost local authorities £334million. Since April 1, local authorities have been able to charge a 100 per cent premium on second homes under new powers introduced in the 2023 Levelling Up and Regeneration Act. In Wales, they can charge premiums of up to 300 per cent. However, crafty property barons found a loophole which allows them to dodge paying their taxes by classifying their second homes as holiday lets and renting them out for 70 nights of the year. The tax dodging move means the properties qualify for business rates relief and also makes owners exempt from paying any council tax at all. In the past year, the sum of lost council tax revenue has doubled from £170m, according to research by property firm Colliers. Now, politicians and experts say the soaring figures prove the 100 per cent premium tax raid is doing more harm than good. Shadow housing minister Kevin Hollinrake critiscied the Government for their backfiring tax raid. 'Labour couldn't even be bothered to carry out any impact assessment, nor have they asked councils to restrict the policy to where there are localised problems in the housing market,' he said. John Webber, of Colliers, said it's 'making the situation even worse' and pointed out that 'less money will be collected locally' which will result in less spending on things locals actually need, such as public services or affordable housing. He added: 'The problem is not second home owners; it is politicians failing to understand the issues and having the courage to do something about it.' A whopping 230 out of 296 councils in England, and 20 out of 22 in Wales took the Government up on their offer and imposed the inflated levy. To be considered a holiday let, owners must make their property available for at least 140 nights and actually let it out to visitors for 70 nights in one year. In order to work out the business rates bill an owner pays, the council uses the property's rateable value which is based on its type, size, location and how much money they would make renting it out to holidaymakers. If they only let one property then they may qualify for small business rates relief which could see them offered up to 100 per cent relief. Properties with a rateable value of £12,001 to £15,000, will see the rate of relief go down gradually from 100 per cent to 0 per cent. For example, if the rateable value is £13,500, the owner will get 50 per cent off their bill. There are an estimated 73,838 holiday let properties that qualify for business rates relief in England and Wales. This is down from 80,000 last year thanks to tougher restrictions but Colliers expects numbers to shoot up again due to the double tax raid. Before 2023, property owners just had to declare an intention to use their home as a holiday let to meet the business rates relief qualifications.
