Tourism businesses face cloudy outlook after ‘resilient’ summer
Tourism, leisure and hospitality businesses across East Anglia had a mixed but resilient summer although rising costs, cautious consumer spending and late bookings cloud the outlook for next year. Larking Gowen’s Summer 2026 Tourism Survey found that 43 per cent of respondents saw increased turnover and profitability. But visitor numbers were broadly flat, suggesting businesses were generating more income from existing demand through pricing, improved sales conversion or additional customer spending. Expectations for the full year were more cautious, with 39 pc anticipating a moderate increase in profitability but 37 pc expecting profits to fall. Half described their outlook as neutral, while almost a third were positive. Operating costs were the main concern, including vat, national insurance, PAYE, food inflation, minimum wage increases and business rates. Businesses also reported weaker discretionary spending, recruitment difficulties and uncertainty caused by late bookings. Road closures, parking restrictions and infrastructure works added to pressures in some destinations. Firms in the sector have responded through diversification, more active marketing and tighter staffing, although maintaining service quality while controlling costs remains a challenge. In 2027, the survey points to a cautiously balanced outlook rather than strong growth. Larking Gowen is urging businesses to protect margins, encourage repeat visits and start marketing campaigns earlier to secure advance bookings. Collaboration between local operators could also help strengthen destination’s appeal. See the Summer 2026 Tourism Business Survey here.
Work set to start on £9 million Lowestoft windfarm base project
ScottishPower Renewables has appointed East Anglian contractor R G Carter to design and build a new £9m operations base in Lowestoft. Ahead of construction starting early next year, demolition work (photo, right) is beginning at the former RJ Pryce site on Trinity Road, by Ipswich-based Tru Demolition. The new 6,000 sq m facility will include a three-storey office building, control room, marine coordination centre and warehouse, with capacity for around 100 people. It will operate near ScottishPower’s existing East Anglia ONE operations facility and takes its investment in the regional supply chain beyond £100m. The group’s supply chain now includes more than 100 local and regional firms. Jess Asato, MP for Lowestoft, said: “This is fantastic news for Lowestoft and another vote of confidence in our town’s growing role in Britain’s clean energy future. This investment by ScottishPower Renewables will bring skilled jobs, training opportunities and more people working in the heart of Lowestoft, helping to support our town centre shops, cafés and other local businesses.” Norwich-based RG Carter has offices across the region and operates nationally and supports around 60 apprentices.
Private equity-backed group acquires Norwich-based insolvency company
Norwich-based insolvency and business recovery specialist Parker Andrews has been acquired by Leonard Curtis, a private equity-backed professional services group operating nationally. The deal adds 30 staff – including six insolvency practitioners – to Leonard Curtis, which has more than 350 professionals. Founded in 2010, Parker Andrews provides corporate and personal insolvency, business advisory and creditor advisory services. The business will continue to be led by its existing senior management team of Antony Antorkas, Grace Jones and David Perkins. Its practitioners are also based in Cambridge, Ipswich, Stanmore, Tunbridge Wells, Plymouth and Truro. The acquisition increases Leonard Curtis’ network to 37 locations and forms part of its expansion strategy following investment from Pollen Street Capital, which acquired a majority stake in 2025. Logan Mantle, head of corporate development at Leonard Curtis, said: “Parker Andrews is the perfect fit for us. A well-run reputable insolvency and business recovery practice in an area of the UK where we have no current presence, with an experienced group of work winners and support teams who back our values and approach to business delivery and development.” Leonard Curtis said it has a strong pipeline of M&A opportunities with more acquisitions expected to follow in the next 6-12 months.
Separately, Affinia, an accounting services platform for SMEs and owner-managed businesses, has recruited ten tax specialists in an expansion of its East Anglia tax business, adding senior corporate and personal tax expertise to its growing Ipswich office. Andy Buchanan rejoins Affinia after 12 years at BDO.
Photo: Antony Antorkas (left) from Parker Andrews with Leonard Curtis CEO Dan Booth
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Cambridge serviced office desk prices ‘highest’ outside central London
Cambridge has the highest average serviced office desk costs outside central London with businesses paying £588 a month per desk in the university city, according to a new study. The UK Office Rental Report 2026, from FreeOfficeFinder, looked at 19 towns and cities and puts Cambridge ahead of London as a whole, where the average is £483, while Bristol averages £372 and Oxford £362. Even Shoreditch and Canary Wharf are cheaper, at £581 and £568 respectively, although central London commands £634. The difference means a business requiring five desks would face an annual bill of £35,280 in Cambridge, £6,300 more than the equivalent cost across London. The findings come as demand for workspace in the city is influenced by its growing life sciences sector, with GSK planning a 300,000 sq ft research centre for more than 1,000 scientists. Nick Riesel, managing director of FreeOfficeFinder, said: “Where you base your business, and even which part of the city, can make a difference of hundreds of pounds a month. It pays to compare before you sign.”
Meanwhile, a proposed new three-storey R &D office or lab facility of just over 2,000 sq m at The Oaks Business Park in Newmarket is being marketed as a more affordable alternative to Cambridge for life sciences, laboratory and medical businesses. Agent BTG Eddisons says comparable facilities in Cambridge and its surrounding science parks could cost up to 50 per cent more to lease.
Separately, Cambridge continues to attract substantial venture capital investment, with life sciences, biotech and deep tech businesses securing some of the UK’s largest funding rounds over the past two years, according to an analysis by Savills. Among the companies attracting significant backing are CellCentric, which raised £256 million across two deals, Apollo Therapeutics (£205 million), Tenpoint Therapeutics (£189 million), T-Therapeutics (£170 million) and CMR Surgical (£155 million). Mark Taylor, head of Cambridge commercial agency, said: “What is particularly encouraging is the diversity of companies attracting funding, from AI-driven drug discovery and cell engineering through to medical devices and quantum technologies. Combined with the continued concentration of businesses across Cambridge’s leading science parks and research campuses, this creates a highly collaborative environment that supports innovation from early-stage development through to global commercial success.”
Firms face mounting late payment pressures
East Anglian businesses faced mounting cashflow pressures in the third quarter although insolvency activity fell in the region. R3’s latest Business Health report, based on Creditsafe data, showed more than 1.6 million overdue invoices recorded across the region in the third quarter, up six per cent on a year earlier and 56 per cent higher than the previous three months.But insolvency-related activity in East Anglia fell by 10pc year-on-year to 882 cases, the largest regional decline across the UK. Hayley Watson, R3 Eastern chair and director at FRP Advisory, said: “The rise in overdue invoices is a real concern and shows the scale of the challenge facing businesses when it comes to getting paid on time.” She warned that late payments were affecting companies’ ability to meet wages, supplier bills and other commitments, amid high operating costs, expensive borrowing and cautious consumer demand.
Housebuilder acquires site for 80 homes to ‘continue presence’ in Cambs
Housebuilder Taylor Wimpey East Anglia has acquired a 12-acre site for an 80-home development in Soham in Cambs. The scheme involves a mix of one to five bedroom homes, with a fifth affordable housing. The firm will also make a ‘community contribution’ of around £2 million to local education & library provision and infrastructure improvements. Subject to planning approval, groundworks are expected to begin next June with the first homes forecast to go on sale at the end of the year. Tom Wheeler, land director at Taylor Wimpey East Anglia, said: “With our popular Lantern Croft development in Ely coming to an end, this site is a significant acquisition for Taylor Wimpey to continue their presence in Cambridgeshire.”
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