Outside it is the bleak midwinter. We are smack bang in the middle of some of the country’s best agricultural land.
But inside the cavernous warehouse where we’ve come, you wouldn’t have a clue about any of that: there is no daylight; it feels like it could be any time of the day, any season of the year.
We are at Fischer Farms – Europe’s biggest vertical farm.
The whole point of a vertical farm is to create an environment where you can grow plants, stacked on top of each other (hence: vertical) in high density. The idea being that you can grow your salads or peas somewhere close to the cities where they’re consumed rather than hundreds of miles away. Location is not supposed to matter.
Image: Farm 2 of Fischer Farms
So the fact that this particular one is to be found amid the fields a few miles outside Norwich is somewhat irrelevant. It could be anywhere. Indeed, unlike most farms, which are sometimes named after the family that owns them or a local landmark, this one is simply called “Farm 2”. “Farm 1” is to be found in Staffordshire, in case you were wondering.
Farm boss’s dizzying ambition
These futuristic farm units are the brainwave of Tristan Fischer, a serial entrepreneur who has spent much of his career working on renewable energy in its various guises. His ambition now is dizzying: to be able to grow not just basil and chives in a farm like this but to grow other, trickier and more competitive crops too – from strawberries to wheat and rice.
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Only then, he says, can vertical farming stand a chance of truly changing the world.
The idea behind vertical farming itself is more than a century old. Back in 1915, American geologist Gilbert Ellis Bailey described how it could be done in theory. In theory, one should be able to grow plants hydroponically – in other words with a mineral substrate instead of soil – in a controlled environment and thereby increase the yield dramatically.
In one sense this is what’s already being done in greenhouses across much of Northern Europe and the US, where tomatoes and other warm-weather-loving vegetables are grown in temperature-controlled environments. However, while most of these greenhouses still depend on natural light (if sometimes bolstered by electric bulbs) the point behind vertical farming was that by controlling the amount of light, one could grow more or less everything, any time of the year. And by stacking the crops together one could yield even more crops in each acre of land one was using.
Image: The tunnels are 12 levels high and bathed in bright LED lights
Look at a long-term chart of agricultural yields in this country and you start to see why this might matter. The quantity of crops we grow in each acre of land jumped dramatically in the second half of the 20th century – a consequence in part of liberal use of artificial fertiliser and in part of new technologies and systems. But that productivity rate started to tail off towards the end of the century.
‘Changing the equation’
Vertical farming promises, if it can make the numbers add up, to change the equation, dramatically increasing agricultural productivity in the coming decades. The question is whether the technology is there yet.
And when it comes to the technology, one thing has certainly changed. Those early vertical farms (the first attempts actually date back to the 1950s) all had a big problem: the bulbs. Incandescent bulbs were both too hot and too energy intensive to work in these environments. But the latest generation of LED bulbs are both cool and cheap, and it’s these bulbs you need (in vast numbers) if you’re going to make vertical farming work.
Image: The farm is growing basil but the ambition is to grow much more than simple herbs
Here at Farm 2, you encounter row after row of trays, each stacked on top of each other, each carrying increasingly leafy basil plants. They sit under thousands of little LED bulbs which are tuned to precisely the right spectral frequency to encourage the plant to grow rapidly.
Mr Fischer says: “We’re on this downward cost curve on LEDs. And then when you think about other main inputs, energy – renewable energy – is constantly coming down as well.
“So you think about all the big drivers of vertical farming, they’re going down, whereas compared to full-grown crops, everything’s going up – the fertilisers, rents, water is becoming more expensive too.”
Image: Just over a month after the basil was seeded, it is now fully grown and trays of the crop are moved to the harvesting machine
This farm – which currently sells to restaurant chains rather than direct to consumers – is now cost-competitive with the basil shipped (or more often flown) in from the Mediterranean and North Africa. The carbon footprint is considerably lower too.
“And our long-term goal is that we can get a lot cheaper,” says Mr Fischer. “If you look at Farm 1, we spent about £2.5m on lights in 2018. Fast forward to Farm 2; it’s seven and a half times bigger and in those three years the lights were effectively half the price. We’re also probably using 60 to 70 percent less power.”
Image: Farm boss Tristan Fischer speaks to Sky’s Ed Conway
It might seem odd to hear a farmer talk so much about energy and comparatively less about the kinds of things one associates with farmers – the soil or tractors or the weather – but vertical farming is in large part an energy business. If energy prices are low enough, it makes the crops here considerably cheaper.
But here in the UK, with power costs higher than anywhere else in the developed world, the prospects for this business are more challenged than elsewhere. Still, Mr Fischer’s objective is to prove the business case here before building bigger units elsewhere, in countries with much cheaper power.
In much the same way as Dutch growers came to dominate those greenhouses, he thinks the UK has a chance of dominating this new agricultural sector.
Harrods is preparing to take legal action against the estate of its former owner, Mohamed al-Fayed, as the multimillion-pound legal bill for compensating his sexual abuse victims continues to escalate.
Sky News has learnt that the Knightsbridge department store, which has been owned by a Qatari sovereign wealth fund since 2010, plans to file a so-called passing-over application in the High Court as early as next week.
The intention of the application is to secure the removal of Mr al-Fayed‘s estate’s current executors, and replace them with professional executors to administer it instead.
Professional executors would be expected to investigate the assets and liabilities of the estate, while Harrods insiders claimed that the current executors – thought to be close family members of the deceased billionaire – had “ignored” correspondence from its lawyers.
Sources close to Harrods said the passing-over application paved the way for it to potentially seek to recover substantial sums from the estate of the Egyptian tycoon as it contends with a compensation bill likely to run to tens of millions of pounds.
In a statement issued to Sky News on Saturday, a Harrods spokesperson said: “We are considering legal options that would ensure that no doors are closed on any future action and that a route to compensation and accountability from the Fayed estate remains open to all.”
Mr al-Fayed is believed to have raped or sexually abused hundreds of women during his 25-year tenure as the owner of Harrods.
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He died in 2023, since when a torrent of details of his abuse have been made public by many of his victims.
Earlier this year, Sky News revealed details of the compensation scheme designed by Harrods to award six-figure sums to women he abused.
In a form outlining the details of the Harrods redress scheme overseen by MPL Legal, which is advising the department store, it referred to the potential “for Harrods to recover compensation paid out under this Scheme from Mohamed Fayed’s estate”.
“You are not obliged to assist with any such claim for recovery,” the form told potential claimants.
“However, if you would be willing to assist Harrods including potentially by giving evidence against Fayed’s estate, please indicate below.”
This weekend, there appeared to be confusion about the legal representation of Mr al-Fayed’s estate.
In March, the BBC reported that Fladgate, a UK-based law firm, was representing it in an article which said that women who worked for him as nannies and private air stewards were preparing to file legal claims against the estate.
This weekend, however, a spokesman for Fladgate declined to comment on whether it was acting for Mr al-Fayed’s estate, citing confidentiality restrictions.
A source close to the law firm, meanwhile, insisted that it was not acting for the estate.
KP Law, another law firm acting for some al-Fayed abuse survivors, has criticised the Harrods-orchestrated process, but has itself faced questions over proposals to take up to 25% of compensation awards in exchange for handling their cases.
Harrods insiders said there was a growing risk that Mr al-Fayed’s estate would not be responsibly administered given that the second anniversary of his death was now approaching.
They added that as well as Harrods itself seeking contribution for compensation paid out for Mr al-Fayed’s abuse, its legal action would also potentially open way for survivors to claim directly against the estate.
Victims with no direct connection to Harrods are not eligible for any compensation through the store’s own redress scheme.
Even if Harrods’ passing-over application was approved by the High Court, any financial recovery for the department store would be subject to a number of additional legal steps, sources said.
“The passing-over action would achieve the goals of acknowledgement and accountability from the estate for survivors who don’t have the resource to undertake a passing-over application themselves,” an insider said this weekend.
The high street lender Metro Bank has been approached about a private equity-backed takeover in a move that could lead to the disappearance of another company from the London Stock Exchange.
Sky News has learnt that Metro Bank was approached in the last fortnight about an offer to take it private spearheaded by the financial services-focused buyout firm Pollen Street Capital.
Pollen Street is one of the major shareholders in Shawbrook, the mid-sized bank which in the past has approached Metro Bank about a merger of the two companies.
In recent months, Shawbrook’s owners have stepped up efforts to identify a prospective corporate combination, holding tentative talks with Starling Bank about a £5bn tie-up, while also drawing up plans for a stock market listing.
The takeover approach to Metro Bank comes as it puts a traumatic period in which it came close to insolvency firmly behind it.
In November 2023, the lender was rescued through a £925m deal comprising £325m of equity – a third of which was contributed by Jaime Gilinski Bacal, a Colombian billionaire – and £600m of new debt.
Mr Gilinski now holds a near-53% stake through his investment vehicle, Spaldy Investments, and sits on the company’s board.
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Since the bailout deal, Metro Bank has cut hundreds of jobs and sold portfolios of loan assets, at the same time as chief executive Daniel Frumkin has improved its operating performance.
Shares in Metro Bank have more than trebled in the last year as its recovery has gathered pace.
On Friday, the stock closed at 112.2p, giving it a market capitalisation of just over £750m.
At one point in 2018, the lender – which promised to revolutionise retail banking when it opened its first branch in London in 2010 – had a market capitalisation of £3.5bn.
Metro Bank became the first new lender to open on Britain’s high streets in over 100 years when it launched in the wake of the 2008 financial crisis.
Its branch-based model, which included gimmicks such as offering dog biscuits, proved costly, however, at a time when many rivals have been shifting to digital banking.
Reporting first-quarter results last month, Mr Frumkin said: “During the first quarter of 2025, we have continued to deliver the strategic repositioning of Metro Bank’s business, maintaining strong cost control while driving higher net interest margin by changing the mix of assets and remaining disciplined about deposits.”
“We have seen further growth in our corporate and commercial lending, with Metro Bank’s relationship banking and breadth of services creating differentiation for us in the market.”
Metro Bank operates from about 75 branches across the country, and saw roughly 30,000 new personal and business current accounts opened during the last quarter.
In 2019, customers formed sizeable queues at some of its branches after suggestions circulated on social media that it was in financial distress.
Days later, it unveiled a £350m share placing in a move designed to allay such concerns.
The company has had a chequered history with City regulators, despite its relatively brief existence.
In 2022, it was fined £10m by the Financial Conduct Authority for publishing incorrect information to investors, while the PRA slapped it with a £5.4m penalty for similar infringements a year earlier.
The lender was founded in 2009 by Anthony Thompson, a financial services entrepreneur, and Vernon Hill, an American who eventually left in controversial circumstances in 2019.
Last month, it sailed through a shareholder vote unscathed after drawing opposition to a proposal which could see top executives paid up to £60m apiece.
Metro Bank and Pollen Street both declined to comment on Saturday
Rachel Reeves is a “gnat’s whisker” away from having to raise taxes in the autumn budget, a leading economist has warned – despite the chancellor insisting her plans are “fully funded”.
Paul Johnson, director of the Institute for Fiscal Studies (IFS), said “any move in the wrong direction” for the economy before the next fiscal event would “almost certainly spark more tax rises”.
Speaking the morning after she delivered her spending review, which sets government budgets until 2029, Ms Reeves told Wilfred Frosthiking taxes wasn’t inevitable.
“Everything I set out yesterday was fully costed and fully funded,” she told Sky News Breakfast.
That budget, her first as chancellor, included controversial tax hikes on employers and increased borrowing to help public services.
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3:43
Spending review explained
Chancellor won’t rule out tax rises
The Labour government has long vowed not to raise taxes on “working people” – specifically income tax, national insurance for employees, and VAT.
Ms Reeves refused to completely rule out tax rises in her next budget, saying the world is “very uncertain”.
The Conservatives have claimed she will almost certainly have to put taxes up, with shadow chancellor Mel Stride accusing her of mismanaging the economy.
Taxes on businesses had “destroyed growth” and increased spending had been “inflationary”, he told Sky News.
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7:57
Tories accuse Reeves over economy
‘Sting in the tail’
She is hoping Labour’s plans will provide more jobs and boost growth, with major infrastructure projects “spread” across the country – from the Sizewell C nuclear plant in Suffolk, to a rail line connecting Liverpool and Manchester.
But the IFS said further contractions in the economy, and poor forecasts from the Office for Budget Responsibility, would likely require the chancellor to increase the national tax take once again.