Investments
8Partners & Customers
2About Adderstone Group
Adderstone Group is a dynamic and passionate property development and investment business founded in Newcastle upon Tyne, delivering development strategies for our own projects and institutional investor partners.

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Latest Adderstone Group News
Apr 21, 2022
Shop workers fear losing their jobs over changes to payment system at Hexham car park The developer has said there were "teething problems" when the new system was brought in but these have now been addressed Sign up to FREE email alerts from our Money Saving Club Newsletter Something went wrong, please try again later.Invalid Email Subscribe We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Thank you for subscribing!We have more newsletters Show me See our privacy notice Shop workers in Hexham fear they could lose their jobs after controversial changes to a car parking payment system saw customers boycott two businesses. That's the word of the Northumberland town's mayor, Coun Derek Kennedy, who said he and fellow councillors had been contacted by concerned staff at the town's Marks and Spencer and B&M Bargains stores at Maiden's Walk. The owners of the adjoining car park - Newcastle-based development company Adderstone Group - recently changed from a cash machine system to a cashless payment process. However, on the first weekend the new system was brought in, technical issues meant that all customers who used the car park were issued fines. Adderstone have said the issues have now been addressed and work has been done to educate users. Coun Kennedy, who also represents Hexham West on Northumberland County Council, said: "What they have done is made it so there is no cash and the disabled bays, which used to be free, you now have to pay. "They haven't done the education and told people what's changing. The fines system for the first two days sent everybody a fine. That's bad, it's not how it should work. "People are saying they're never going to shop there again which is terrible. It's all confusing - people keep getting it wrong. What they should have done is say they were introducing it but disabled the fine system for a month to get a smooth transition. "We're having lots of stories from staff members who are worried about their jobs because less people are turning up. We're really fond of both M&S and B&M and we want them to be part of our future family in Hexham. "We don't want a ridiculous thing over a car park charging problem to bring two blue-chip companies out of Hexham. It is not good enough what has happened." Hexham MP Guy Opperman has also waded into the row and voiced his own concerns. In a statement, he said: "I am seriously concerned by the changes at Maiden’s Walk car park in Hexham. "Cash payments have been stopped and blue badge holders are having to pay when they previously didn’t. "This new system is making life very difficult for local residents, and those who travel into Hexham to use this car park. "I'm particularly concerned that the changes are disproportionately impacting elderly and disabled people. Guy Opperman (Image: Newcastle Chronicle) "The changes have also had a significant impact on M&S and B&M – as some of their customers have not been able to park and shop in the way they are used to. "My team and I are assisting, processing complaints against any unfair fines issued to local people." Adderstone Group has since explained why the changes were made and insisted the system is easy to use. An estates surveyor from the group said: "A cashless payment system has been implemented. Most car parks around the country operate in this way. There were teething problems for the first weekend but these were immediately resolved and Hozah has put a great deal of effort into educating users. "Cash machines not only pose a security risk but are also more labour intensive, costly to manage and prone to breakage; ultimately resulting in higher parking charges. "We have a duty of care to ensure our private estates are safe, well managed and maintained. Unfortunately, we will not have council tax funds to tap into when this particular car park needs resurfacing. "60p per hour is a very low tariff and M&S reimburses shoppers anyhow. For those shopping elsewhere in Hexham in need of a well maintained and centrally located car park, the cashless payment system really is very easy to use.” Read More
Adderstone Group Investments
8 Investments
Adderstone Group has made 8 investments. Their latest investment was in OpenWorks Engineering as part of their Corporate Minority on May 5, 2019.

Adderstone Group Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/13/2019 | Corporate Minority | OpenWorks Engineering | Yes | 1 | ||
Other Investors | ||||||
Other Investors | ||||||
Other Investors | ||||||
Other Investors |
Date | 5/13/2019 | ||||
---|---|---|---|---|---|
Round | Corporate Minority | Other Investors | Other Investors | Other Investors | Other Investors |
Company | OpenWorks Engineering | ||||
Amount | |||||
New? | Yes | ||||
Co-Investors | |||||
Sources | 1 |
Adderstone Group Acquisitions
1 Acquisition
Adderstone Group acquired 1 company. Their latest acquisition was Turbo Power Systems on March 31, 2017.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
3/31/2017 | Management Buyout | 1 |
Date | 3/31/2017 |
---|---|
Investment Stage | |
Companies | |
Valuation | |
Total Funding | |
Note | Management Buyout |
Sources | 1 |
Adderstone Group Partners & Customers
2 Partners and customers
Adderstone Group has 2 strategic partners and customers. Adderstone Group recently partnered with Bartoline on May 5, 2022.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
5/10/2022 | Partner | United Kingdom | Adderstone Group signs deal with Bartoline Limited - Adderstone Group Adderstone Group signs deal with Bartoline Limited . | 1 | |
1/16/2017 | Client |
Date | 5/10/2022 | 1/16/2017 |
---|---|---|
Type | Partner | Client |
Business Partner | ||
Country | United Kingdom | |
News Snippet | Adderstone Group signs deal with Bartoline Limited - Adderstone Group Adderstone Group signs deal with Bartoline Limited . | |
Sources | 1 |
Adderstone Group Team
1 Team Member
Adderstone Group has 1 team member, including current Founder, Chief Executive Officer, Ian Baggett.
Name | Work History | Title | Status |
---|---|---|---|
Ian Baggett | Founder, Chief Executive Officer | Current |
Name | Ian Baggett |
---|---|
Work History | |
Title | Founder, Chief Executive Officer |
Status | Current |
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