Strategic review brings about stronger commercial direction
Following an in-depth business review instigated by CEO Michael Pemberton, Britain’s Energy Coast (BEC) announces its new, clear focus for the future.
The company will expand and develop its property assets and expertise to bring direct benefit for Allerdale and Copeland.
BEC will own, operate, develop and regenerate high quality property assets – creating a sustainable and commercial business. It will use its profits to facilitate programmes that improve the locality, especially those that support low carbon goals.
The company will bring about positive change in property projects by using strategic property interventions, often where market failure has occurred. It will also strive to support both Allerdale and Copeland Borough Council’s overarching property strategies.
The direction change follows a strategic review implemented by Michael, who came on board last year, and coincides with the company completing its move from a part-funded organisation to a fully commercial enterprise.
“BEC has a proud thirty year history of regeneration along the Cumbrian coastline. In this next chapter we will be building this legacy into a robust commercial operation,” commented Michael. “We will be working to further improve the quality of our property assets, including those at Westlakes Science and Technology Park, and continue our intervention into important property regeneration projects such as the old bus station site at Whitehaven Harbour.”
“We have faced up to the challenges of becoming a wholly commercial company head on. At times difficult decisions have had to be made,” Michael added. “In line with the new focus we will no longer be running wide reaching business support projects in all sectors. We have been working hard to safeguard these services in our region and facilitate continuation in organisations where it is more financially viable.”
Michael concluded: “This is one of the biggest changes BEC has faced in its history – but it is a change that will safeguard its future and the positive projects it supports.”
The new direction and potential impacts were communicated to staff on Monday 25th April.