BUSINESS REVIEW OF THE YEAR
THE YEAR THAT WAS 2022
2022 has undoubtedly been one of the most tumultuous years in living memory . From an economy still reeling from the pandemic , to pressures exacerbated by Russia ’ s invasion of Ukraine , three different Prime Ministers and a new monarch – there ’ s never been a year quite like it .
Political instability , intertwined with international pressures leading to a cost-of-living crisis , on the back of two years of economic turmoil , has made this an extremely challenging time . Yet despite the turbulent times and an uncertain future , there is still plenty for our business community to celebrate and be optimistic about . The Business Exchange has selected some positive updates , inspirational stories and encouraging developments from 2022 as we look ahead to a hopefully more stable , prosperous 2023 .
Property and development
From bringing Bath Quays back into use to overcoming legal hurdles regarding redevelopment at The Rec , 2022 has seen positive changes in Bath city centre .
Newark Works and No 1 Bath Quays are setting the standard for new , purpose-built office space in the city centre . The demand for Grade A office space in a prime location has lead to much interest in this highly anticipated redevelopment , which welcomed its first tenants this autumn .
Regeneration specialist TCN is the company behind Newark Works and a partner of B & NES Council for the overall project .
Richard Pearce , Founder and Director , said , “ 2022 has been a year of getting the development works over the line in conjunction with B & NES Council finishing their Grade A office building next door , known as No 1 Bath Quays . At the same time the public realm works have been key to completing Bath Quays South as a whole and connecting it with the centre of Bath via the new bridge .
“ Newark Works opened its doors on 14th November after 10 years in the making , a truly momentous occasion for TCN as owners , but most importantly for Bath , bringing this prominent site back into life .
“ On opening we welcomed over 100 members from 10 different companies who have already taken space in the building .
“ Whilst the key focus for us is providing a permanent workspace for the creative and digital businesses of the region , we are also filling up the TCN Flex space which offers desk rental for smaller companies . This mix is providing a dynamic cluster of businesses which together create a community atmosphere enabling businesses to thrive and staff to fulfil their potential in an inspiring environment .
“ 2023 will see the community gain momentum with more companies lined up to join from January . Current projections are for the building to be full by March with over 50 small and medium sized companies enjoying the spectacular Crane Hall breakout areas , communal kitchens , meeting rooms , our own bakery and café provided my Mokoko and regular events unique to our members .
“ Our mission is to enable business growth and positive change , and we are excited to see that come to fruition in Newark Works .
“ TCN is very proud to have produced a scheme which celebrates the rich industrial heritage of this site , whilst harnessing that history to inspire the next generation of innovators and makers .”
Meanwhile , take a short trip along the River Avon and the spiritual home of Bath Rugby , The Rec , is now ready to embark on an important stage in its journey .
In October , the Supreme Court refused an application seeking to appeal the ruling of the Court of Appeal of 4th February 2022 , allowing Bath Rugby to proceed with its planned redevelopment of facilities at The Rec .
This brings to an end the long-running legal case relating to the 1922 covenants and paves the way for Bath Rugby to bring forward proposals for a new stadium .
Bath Rugby Chief Executive , Tarquin McDonald , said , “ Now that the Supreme Court has ruled , we finally have the certainty we need as a club to bring forward comprehensive proposals for a new stadium at our spiritual home , The Rec , located in the heart of Bath .
“ The Club will be re-engaging with stakeholders across the city regarding the development project and intends to bring forward and share its plans with the city in due course . This will regenerate the riverside and provide outstanding facilities for rugby and the wider community which everyone in the city can be proud of .
“ We would very much like to thank our supporters and the wider city for all their support and patience throughout this complex and lengthy legal process .”
For more info : www . newarkworks . co . uk
6 www . tbebathandsomerset . co . uk